Archived decisions

Notes to the statement of total movements in reserves

Usable

capital

receipts

£'000

1

Movement in realised capital resources

Amount receivable in 2004/05

18,469

Amounts applied to finance new capital investment in 2004/05

-18,469

Change in realised capital resources in 2004/05

-

Balance bought forward at 1 April 2004

-

Balance carried forward at 31 March 2005

-

The Usable Capital Receipts Reserve is cash-backed, so it was available to help

finance capital expenditure in 2004/05. The receipts arise from the sale of fixed

capital assets.

Fixed asset

restatement

account

£'000

2

Movements in unrealised value of fixed assets

Gains/losses on revaluations of fixed assets in 2004/05

114,345

Impairment losses on fixed assets arising from revaluations in 2004/05

-

Total increase in unrealised capital resources in 2004/05

114,345

3

Value of assets sold, disposed of or decommissioned

Amounts written off fixed asset balances for disposals in 2004/05

-16,869

Total movements on reserve in 2004/05

97,476

Balance brought forward at 1 April 2004

1,535,918

Balance carried forward at 31 March 2005

1,633,394

The Fixed Asset Restatement Account was created in order to allow assets to be

maintained in the accounts at current value. The reserve is not cash backed as it

relates to unrealised assets

58

Capital

Government

Total

financing

grants and

reserve

contributions

deferred

£'000

£'000

£'000

4

Movement in amounts set aside to

finance capital investment

Capital receipts received and set aside in 2004/05

18,469

18,469

Revenue resources set aside in 2004/05

- Capital expenditure financed from revenue

24,245

- reconciling amount for provision for loan

-36,072

repayment

Total revenue resources set aside

-11,827

-11,827

Grants and contributions applied to capital investment

83,365

Amounts credited to asset management

revenue account in 2004/05

-13,114

Movement in Government grants and

70,251

70,251

contributions deferred

Total increase in amount set aside

to finance capital investment

Total movement on reserve in 2004/05

6,642

70,251

76,893

Balance brought forward on 1 April 2004

265,778

209,753

Balance carried forward on 31 March 2005

272,420

280,004

Both the Capital Financing Account and the Government Grants and Contributions

Deferred Account represent amounts applied to finance capital expenditure.

Therefore neither is a cash-backed reserve.

5

Net actuarial gain/(loss) on pensions (note 5)

Difference between the expected and actual return on assets

(3.4% of scheme assets)

27,240

Difference between actuarial assumption about liabilities and actual experience

(4.7% of scheme liabilities)

65,530

Changes in assumptions underlying the present value of pension liabilities

(18.1% of scheme liabilities)

-252,180

-159,410

59