Merseyside Integrated Transport Authority Statement Of Responsibilities For The Statement Of Accounts


The gains and losses recognised in the Income & Expenditure Account and Statement of Recognised Gains and Losses, in relation to financial instruments, are made up as follows:-

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The gains and losses recognised in the Income & Expenditure Account and Statement of Recognised Gains and Losses, in relation to financial instruments, are made up as follows:-




2007/08




2008/09

MITA

Group




MITA

Group

£000

£000




£000

£000






















Financial Liabilities













Liabilities Measured at Amortised Cost







18,665

18,665

Interest Expense


17,889

17,889

-

-

Losses on Derecognition

-

-

-

-

Impairment Losses

-

-

18,665

18,665

Interest Payable & Similar Charges

17,889

17,889
















-

-

Interest Income

-

-

-

-

Gains on Derecognition

-

-

-

-

Interest & Investment Income

-

-
















-

-

Gains on Revaluation (pensions)*

(12,491)

(46,012)

6,513

20,439

Losses on Revaluation(pensions)*

12,071

46,780

-

-

Amounts Recycled to the I & E a/c after impairment

-

-

6,513

20,439

Surplus Arising on Revaluation of Financial Assets

(420)

768
















25,178

39,104

Net Gain/Loss for the Year


17,469

18,657






















Financial Assets













Liabilities Measured at Amortised Cost







-

-

Interest Expense

-

-

-

-

Losses on Derecognition

-

-

5

178

Impairment Losses (Debtors)

3

170

5

178

Interest Payable & Similar Charges

3

170














(3,316)

(3,318)

Interest Income (Cashflow interest)

(3,129)

(3,130)

-

-

Gains on Derecognition

-

-

(3,316)

(3,318)

Interest & Investment Income

(3,129)

(3,130)
















-

-

Gains on Revaluation

-

-

-

-

Losses on Revaluation

-

-

-

-

Amounts Recycled to the I & E a/c after impairment


-

-

-

-

Surplus Arising on Revaluation of Financial Assets

-

-
















(3,311)

(3,140)

Net Gain/Loss for the Year

(3,129)

(3,130)






















Liabilities Measured at Amortised Cost







-

-

Interest Expense

-

-

-

-

Losses on Derecognition

-

-

-

-

Impairment Losses


-

-

-

-

Interest Payable & Similar Charges

-

-
















-

-

Interest Income

-

-

-

-

Gains on Derecognition

-

-

-

-

Interest & Investment Income

-

-
















-

-

Gains on Revaluation

-

-

-

-

Losses on Revaluation

-

-

-

-

Amounts Recycled to the I & E a/c after impairment


-

-

-

-

Surplus Arising on Revaluation of Financial Assets

-

-
















-

-

Net Gain/Loss for the Year

-

-














































*Re-stated as for 2007/08
Merseyside Integrated Transport Authority
Notes To The Financial Statements (Cont’d)

39. Cashflow Statement

(a) Reconciliation of net revenue deficit, (which resulted in a drawing from reserve funds), to the net inflow from operating activities. Pensions net liabilities are excluded from the following table as they are non-cash.



2007/08




2008/09

MITA

Group




MITA

Group

£000

£000




£000

£000
















703

997

Net Revenue Surplus/(Deficit) after adjustments for movements on the General Fund balance

279

491







Add back:







30870

30870

Debt Charges/Depreciation


30049

30189

32

32

Additional charge in respect of MRP

553

553

250

1250

Contributions to/(from) Reserves

4477

8304

(3316)

(3318)

Cash Flow Interest

(3129)

(3130)

2016

2016

Revenue Contributions to Capital Outlay

1705

1705

4000

6500

Contributions to Capital Reserve

3000

4000


(13)

(13)

Premiums/Discounts Write Off

(13)

(13)

(1)

1

Roundings

2

-

_____

_____




_____

_____
















34541

38335




36923

42099






















Increase/Decrease in:






(212)


(3451)

Debtors

(5328)

(1964)

(78)

(153)

Stock

(56)

(166)

2

2

Rechargeable Accounts

(12)

(12)

(8126)

1972

Creditors

(688)

(7623)

(41)

491

Provisions/Revenue Grants

4293

2244

9101

1043

Less debtors/creditors that do not relate to operating activities

3417

13108


_____

_____




_____

_____
















35187

38239

Net Cash Inflow from Operating Activities

38549

47686

­­­­­ _____

­­­­­ _____




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­­­­­ _____


















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