STATEMENT OF ACCOUNTS 2013/14 Statement of Accounts 2013/14 Contents Page Explanatory Foreword………………………………………………… 2 Statement of Responsibilities………………………………………………………… 6 Financial Statements …………………………………. 7 …………………………………………………………………………….. 8 ……………………………………………………… 9 …………………………………………………………………… 12 Accounting Policies…………………………………………………………………… 13 Notes to Financial Statements…………………………………………………………. 21 Supplementary Statements and Notes ……………………………………………….. 56 Statement……………………………… 57 Balance…………… 57 ………………………………………………… 58 Statement……………………………………………………………….. 62 Statement………………………………………………… 63 Glossary of Terms…………...…………………………………………………………… 68
1,371 Vehicles, Plant & Equipment 8 1,047 176 Infrastructure Assets 8 104 3,543 Community Assets 8 3,543 63 Assets Under Construction 8 54 68 Surplus Assets Not Held for Sale 8 68 213,590 Property, Plant and Equipment Total 224,996 229 Heritage Assets 11 229 2,624 Investment Property 9 2,708 300 Intangible Assets 10 271 10 Long-Term Debtors 12 5 216,753 Long-Term Assets (Sub-total) 228,209 15,838 Short-Term Investments 12 14,000 6 Surplus Assets held for Sale 16 6 87 Inventories 13 81 12,866 Short-Term Debtors 14 10,233 (2,266) Provision for Bad/Doubtful Debts 14 (2,535) 8,283 Cash and Cash Equivalents 15 6,347 34,814 Current Assets (Sub-Total) 28,132 (6,000) Cash and Cash Equivalents 15 0 (1,300) Bank Overdraft 15 (460) (391) Provisions 18 (1,049) (13,296) Short-Term Creditors 17 (10,530) (20,987) Current Liabilities (Sub-Total) (12,039) (228) Long term Creditors – Deferred Pension Capital Costs 0 (81,190) Long-Term Borrowing, over 12 Months 12 (81,190) (47,750) Defined Benefit Pension Scheme Asset/(Liability) 33 (62,239) (1,045) Capital Grants Receipts in Advance 28 (1,238) (130,213) Long-Term Liabilities Total (144,667) 100,367 Net Assets Total 99,635 Balance Sheet as at 31st March 2014 Restated 31st March 2013 Note 31st March 2014 31st March 2014 £'000 £'000 £'000 (3,501) Capital Receipts Reserve 19 (4,294) (358) Major Repairs Reserve 6 (1) (550) Revenue Reserves 6 (4,665) (1,350) Reinvestment Reserve 6 (1,058) (560) Capital Grants Unapplied 19 (570) (4,620) General Fund Balance (4,970) (1,685) HRA Fund Balance (1,344)
At 31st March 2013 170,660 37,919 8,743 1,461 3,543 68 63 222,457 Accumulated Depreciation and impairment At 1st April 2012 (16) (25) (7,112) (1,586) 0 0 0 (8,739) Depreciation charge (5,245) (913) (482) (72) (28) 0 0 (6,740) Depreciation written out to the Revaluation Reserve 90 509 0 0 28 0 0 627 Depreciation written out to the Surplus/Deficit on the Provision of Services 5,137 248 0 0 0 0 0 5,385 Derecognition – other 0 5 222 373 0 0 0 600 At 31st March 2013 (34) (176) (7,372) (1,285) 0 0 0 (8,867) Net Book Value at 31st March 2013 170,626 37,743 1,371 176 3,543 68 63 213,590 Net Book Value at 31st March 2012 174,065 38,881 1,644 480 3,541 79 16 218,706 Impairment Losses The code requires disclosure by class of assets of the amounts for impairment losses and impairment reversals charged to the surplus or deficit on the provision of services and to other Comprehensive Income & Expenditure. These disclosures are consolidated in notes 8 and 10 reconciling movement over the year in the Property, Plant and Equipment and Intangible Asset Balances. Capital Commitments At 31st March 2014, the Council had entered into a number of contracts for the construction or enhancement of Property, Plant and Equipment in 2014/15 and future years budgeted to cost £13,427k. Similar commitments at 31st March 2013 were £16,166k. The current major commitments are: 31st March 2014 £'000 Public Realm and Art Improvements 115 Loughborough Youth and Adult Recreation Facilities Improvements 178 Community Facilities Grants 180 Rural Broadband 100 Car Park Improvements and Refurbishments 146 Loughborough University Science & Enterprise Park 500 Fuel Poverty and Green Deal Schemes 331 Private Sector Housing and Disabled Facilities Grants 733
Total Number of Employees 2012/13 Remuneration Band Total Number of Employees 2013/14 5 £50,000 - £54,999 6 4 £55,000 - £59,999 3 0 £60,000 - £64,999 0 1 £65,000 - £69,999* 2 3 £70,000 - £74,999 3 0 £75,000 - £79,999 0 0 £80,000 - £84,999 0 0 £85,000 - £89,999 0 0 £90,000 - £94,999 0 0 £95,000 - £99,999 0 0 £100,000 - £104,999 0 0 £105,000 - £109,999 0 0 £110,000 - £114,999 0 1 £115,000 - £119,999 1 Details of Remuneration The Chief Executive and the Directors are shown below and their remuneration is also included in the previous table for completeness. There are no exit packages relating to senior officers in 2013/14. Total Remuneration including Pension Contribution 2012/13 Post Holder Information (Post Title) Salary, Fees and Expense Allowances Total Remuneration excluding Pension Contribution 2013/14 Employers Pension Contribution Total Remuneration including Pension Contribution 2013/14 £ £ £ £ £ £ 140,580 Chief Executive 115,638 0 115,638 27,014 142,652 90,318 Director of Neighbourhoods & Community Wellbeing 74,455 17 74,472 16,820 91,292 90,093 Director of Housing, Planning & Regeneration & Regulatory Services 74,370 0 74,370 16,820 91,190 90,139 Director of Corporate Services 74,399 0 74,399 16,820 91,219 411,130 Total 338,862 17 338,879 77,474 416,353 Note 28 Grant Income The Council credited the following grants, contributions and donations to the Comprehensive Income and Expenditure Statement.
2012/13 Notes 2013/14 £’000 £’000 Expenditure 5,868 Supervision and Management 4,780 4,726 Repairs and Maintenance 4,845 30 Rents, Rates, Taxes and other charges 49 3 Rent Rebates 3 2 20,320 Depreciation/Revaluation increase/Impairment of non-current assets 4 (79) 15 Debt management costs 16 150 Movement in the allowance for bad debts (not specified by the Code) 279 31,112 Total Expenditure 9,892 Income (19,834) Dwellings 1 (21,005) (337) Non-dwelling rents (337) (999) Charges for Services and Facilities (1,079) (83) Contributions towards expenditure (84) (46) Other Income (174) (19) Negative Housing Revenue Account Subsidy 2 (0) (21,318) Total Income (22,679) 9,794 Net cost of HRA Services as included in the Comprehensive Income and Expenditure Statement (12,787) 70 HRA services’ share of Corporate and Democratic Core 101 9,864 Net Cost for HRA Services (12,686) HRA share of the operating income and expenditure included in the Comprehensive Income and Expenditure Statement (9,473) Capital grants and contributions receivable (112) 2,639 Loss on disposal of HRA non-current assets 1,087 (47) Interest and investment income (15) 2,726 Interest Payable 2,749 5,709 Net cost/(income) of HRA Services (8,977) Movement on the HRA Statement 2012/13 Notes 2013/14 £’000 £’000 (1,758) Balance on the HRA at the end of the previous year (1,685) 5,709 (Surplus) or Deficit for the year on the HRA Income and Expenditure Statement (8,977) (5,253) Adjustments between accounting basis and funding basis under statute 9,614