Statement of changes in taxpayers’ equity for the year ended 31 March 2024
| Note | Total £000 | Public Dividend Capital £000 | Revaluation reserve £000 | Income and expenditure reserve £000 | |
| Taxpayers’ and others’ equity at 1 April 2023 - brought forward | 112,611 | 52,359 | 22,627 | 37,625 | |
| Surplus for the year | 8,908 | - | - | 8,908 | |
| Impairment losses on property, plant and equipment and donated assets | 14.1 | (528) | - | (528) | - |
| Revaluations on property, plant and equipment and donated assets | 14.1 | 2,711 | - | 2,711 | - |
|
Revaluations - right of use assets |
14.1 | 5 | 5 | ||
| Public dividend capital received | 8,150 | 8,150 | - | - | |
|
Transfer of the excess of current cost depreciation over historical cost depreciation to the income and expenditure reserve |
14.1 | - | - | (504) | 504 |
| Taxpayers’ and others’ equity at 31 March 2024 | 131,858 | 60,509 | 24,311 | 47,038 | |
| Taxpayers’ and others’ equity at 1 April 2022 - as previously stated | 94,444 | 44,641 | 20,078 | 29,725 | |
| Implementation of IFRS 16 on 1 April 2022 | 7,873 | - | - | 7,873 | |
| Deficit for the year | (390) | - | - | (390) | |
| Impairment losses on property, plant and equipment and donated assets | 14.1 | (5) | - | (5) | - |
| Revaluation gains on property, plant and equipment and donated assets | 14.1 | 2,754 | - | 2,754 | - |
| Revaluations - right of use assets | 14.1 | 217 | - | 217 | - |
| Public dividend capital repaid | 7,718 | 7,718 | - | - | |
| Transfer of the excess of current cost depreciation over historical cost depreciation to the income and expenditure reserve | - | - | (417) | 417 | |
| Taxpayers’ and others’ equity at 31 March 2023 | 112,611 | 52,359 | 22,627 | 37,625 |
Public Dividend Capital (PDC)
PDC is a type of public sector equity finance based on the excess of assets over liabilities at the time of establishment of the predecessor NHS organisation. Additional PDC may also be issued to trusts by the Department of Health and Social Care. A charge, reflecting the cost of capital utilised by the trust, is payable to the Department of Health and Social Care as the public dividend capital dividend.
Revaluation reserve
Increases in asset values arising from revaluations are recognised in the revaluation reserve, except where, and to the extent that, they reverse impairments previously recognised in operating expenses, in which case they are recognised in operating income. Subsequent downward movements in asset valuations are charged to the revaluation reserve to the extent that a previous gain was recognised unless the downward movement represents a clear consumption of economic benefit or a reduction in service potential.
Income and expenditure reserve
The balance of this reserve is the accumulated surpluses and deficits of the Trust.
