Creditors and payables are non-interest bearing and are normally settled in the following month. Therefore, the carrying value of creditors and other payables approximates their fair value. Note 11: Provision for repayment of surplus to the Actual Actual Unaudited forecast 2014 2015 2016 $000 $000 $000 1,058 Net surplus/(deficit) before other expenses (605) – Add: Revaluation gains/(losses) not recognised in the net surplus – – Surplus/(deficit) of memorandum accounts 1,190 235 Total operating surplus/(deficit) 2,248 (370) 2,248 Total operating surplus to be returned to Crown – – Note 12: Provisions Actual Actual Unaudited forecast 2014 2015 2016 $000 $000 $000 Current provisions are represented by: Restructuring – – – Performance incentive 184 184 236 Taxation 30 39 – Assets to be written off 548 372 476 Redecoration 100 – – Redundancies 115 239 306 NRL building demolition 300 300 384 ACC Partnership Programme 8 7 10 Lease exit makegood 1,831 – – current portion 3,086 1,132 1,451 Non-current provisions are represented by: Lease exit makegood 967 2,720 3,484 ACC Partnership Programme 33 30 38 Total non-current portion 1,000 2,750 3,522 4,086 Total provisions 3,882 4,973 Movements in provisions during the year Performance Taxation Lease exit NRL Assets Redecoration Redundancies ACC Total incentive makegood building to be Partnership demolition written off Programme $000 $000 $000 $000 $000 Opening balance 184 2,798 300 548 100 115 41 4,086 – 1 July 2014 Additional 184 30 698 372 239 1,523 – – provision made Amounts applied (184) (354) (548) (100) (115) (4) (1,305) – – Unused amounts (422) (422) – – – – – – – reversed
Creditors and payables are non-interest bearing and are normally settled in the following month. Therefore, the carrying value of creditors and other payables approximates their fair value. Note 11: Provision for repayment of surplus to the Actual 2014 $000 Actual 2015 $000 Unaudited forecast 2016 $000 1,058 Net surplus/(deficit) before other expenses (605) – Add: – Revaluation gains/(losses) not recognised in the net surplus – 1,190 Surplus/(deficit) of memorandum accounts 235 2,248 Total operating surplus/(deficit) (370) 2,248 Total operating surplus to be returned to Crown – – Note 12: Provisions Actual 2014 $000 Actual 2015 $000 Unaudited forecast 2016 $000 Current provisions are represented by: – Restructuring – – 184 Performance incentive 184 236 – Taxation 30 39 548 Assets to be written off 372 476 100 Redecoration – – 115 Redundancies 239 306 300 NRL building demolition 300 384 8 ACC Partnership Programme 7 10 1,831 Lease exit makegood – – 3,086 current portion 1,132 1,451 Non-current provisions are represented by: 967 Lease exit makegood 2,720 3,484 33 ACC Partnership Programme 30 38 1,000 Total non-current portion 2,750 3,522 4,086 Total provisions 3,882 4,973 Movements in provisions during the year Performance incentive $000 Taxation $000 Lease exit makegood NRL building demolition $000 Assets to be written off Redecoration Redundancies ACC Partnership Programme $000 Total $000 Opening balance 1 July 2014 184 – 2,798 300 548 100 115 41 4,086 Additional provision made 184 30 698 372 – 239 – 1,523 Amounts applied (184) – (354) – (548) (100) (115) (4) (1,305) Unused amounts reversed – – (422) – – – – – (422)
annual-report-year-ended-30-june-2015-ministry-of-health-oct15.docx