Financial performance
The economic downturn and the need for the NHS in North West London to reduce its costs by £1 billion over the next three years means that we have to make significant cost savings while at the same time achieving a surplus to reinvest in improvements to patient care.
Our financial targets 2011/12
The Trust Board of Directors has agreed a plan for the 2011/12 financial year which includes the following:
| Cost savings target | Surplus target |
|---|---|
| £19.7 million (9% of controllable costs) | £8.5 million |
Current performance—delivery of surplus to reinvest in improvements
| Month | Surplus target for month | Actual surplus for month |
|---|---|---|
| Feb 2012 | -£0.4 million | £0.4 million |
Historical performance—highlights of 2010/11 financial year
The full Annual Accounts for 2010/11, which detail the Trust's financial performance, are available on this page.
These 3 tables provide detail of income for 2010/11 compared with 2009/10—these tables are also included in the Annual Accounts.
Statement of comprehensive income (download CSV)
| 2010/11 £000 | 2009/10 £000 |
|
|---|---|---|
| Operating income Operating income from operations Operating expenses from operations |
331,807 (308,701) |
308,519 (292,483) |
| Operating surplus | 23,106 | 16,036 |
| Finance costs Finance income Finance expense—financial liabilities Public dividend capital dividends payable |
112 (462) (8,951) |
95 (613) (8,557) |
| Net finance costs | (9,301) | (9,075) |
| Surplus for the year | 13,805 | 6,961 |
| Other comprehensive income Revaluation gain/(loss) property, plant and equipment Receipt of donated assets Other reserve movements |
40,278 50 (186) |
(38,246) 155 (240) |
| Total comprehensive income/(expense) for the year | 53,947 | (31,370) |
Operating income (download CSV)
| Income from activities | 2010/11 £000 | 2009/10 £000 |
|---|---|---|
| Elective income Non elective income Outpatient income Accident & Emergency income Other NHS clinical income Private patient income Other non-protected clinical income |
43,869 80,761 62,209 10,631 80,616 10,788 2,274 |
42,007 75,876 54,414 10,380 72,792 8,184 1,604 |
| Total income from activities | 291,148 | 265,257 |
Private patient income (download CSV)
| Base year restated £000 | 2010/11 £000 | 2009/10 £000 |
|
|---|---|---|---|
| Private patient income Total patient related income Proportion (as percentage) |
5,824 157,015 3.7% |
10,788 291,148 3.7% |
8,184 265,257 3.1% |
In following the guidance of Private Patient Income Cap Revised Rules (Monitor February 2010) the Trust carried out a review of all income stream categories to determine what private income/charges to include in the Private Patient Income Cap. The identified change comprised the inclusion of Overseas Non Reciprocal income and exclusion of top up charges to NHS patients for private facilities used. This resulted in a restatement of the base year Private Patient Income Cap.
Historical performance—previous financial years
Annual Accounts for previous financial years, which detail the Trust's financial performance, are available on this page.
