Corporate report
DFID Annual Accounts 2011-2012 - Provisions
Updated 2 June 2013
Download CSV 5.68 KB
| Department for International Development | Accounts 2011-12 | |||||
|---|---|---|---|---|---|---|
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| 19. Provisions | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | IFFIm | AMC | ATP Agreements | Early Retirement Costs | Other | Total |
| Not set | £000 | £000 | £000 | £000 | £000 | £000 |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Balance at 1 April 2010 | 695,602 | - | 11,018 | 7,938 | 24,674 | 739,232 |
| Provided in the year | 278,678 | 89,088 | 97 | 2,516 | 4,870 | 375,249 |
| Release of provision | - | (1,984) | (104) | - | (209) | (2,297) |
| Provision utilised in the year | (34,558) | (13,932) | (3,318) | (3,174) | (9,970) | (64,952) |
| Borrowing costs | (54,196) | - | - | - | - | (54,196) |
| Balance at 31 March 2011 | 885,526 | 73,172 | 7,693 | 7,280 | 19,365 | 993,036 |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Provided in the year | 17,186 | 58,467 | - | 3,765 | 1,309 | 80,727 |
| Release of provision | - | - | (6) | - | (89) | (95) |
| Provision utilised in the year | (43,944) | (33,804) | (2,717) | (5,645) | (7,064) | (93,174) |
| Borrowing costs | 42,528 | (5,101) | - | - | - | 37,427 |
| Balance at 31 March 2012 | 901,296 | 92,734 | 4,970 | 5,400 | 13,521 | 1,017,921 |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Analysis of expected timing of discounted flows 1 | IFFIm | AMC | ATP Agreements | Early Retirement Costs | Other | Total |
| Not set | £000 | £000 | £000 | £000 | £000 | £000 |
| No later than one year | 54,548 | 11,500 | 2,084 | 1,343 | 10,044 | 79,519 |
| Between 1 April 2013 and 31 March 2018 | 284,151 | 81,234 | 2,886 | 3,504 | 3,477 | 375,252 |
| Between 1 April 2018 and 31 March 2023 | 562,597 | - | - | 553 | - | 563,150 |
| Thereafter | - | - | - | - | - | - |
| Balance at 31 March 2012 | 901,296 | 92,734 | 4,970 | 5,400 | 13,521 | 1,017,921 |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| 1 Only the provision for IFFIm and AMC have been discounted on the basis that the impact of discounting would not be material on any of the other provisions. | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Department for International Development | Not set | Not set | Not set | Not set | Not set | Accounts 2011-12 |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| 19. Provisions (continued) | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Provision for the International Finance Facility for Immunisations (IFFIm) represents the net present value of committed payments to cover the UK share of currently issued bonds. The discount rate used to generate the net present value is the real discount rate set by HM Treasury. IFFIm is an international development financing institution that is supported by sovereign donors. IFFIm will borrow operating funds in the international capital markets over the 10 years from 2006-07 backed by these pledges. The UK has pledged a total of £1,315m through to 2026 with a further £250m through to 2030, representing 44.14% of the total amounts pledged at 31 March 2012. Twenty one bond issues have now been made, giving a total liability including interest of £1,294m. The UK is therefore liable for £901m in net present value terms at 31 March 2012 (after deducting payments made), which will be covered by payment obligations through to 2023. | Not set | Not set | Not set | Not set | Not set | Not set |
| Provision for Advance Market Commitments (AMC) represents the net present value of the UK share of supplier agreements signed. The discount rate used to generate the net present value is the real discount rate adjusted for inflation, set by HM Treasury. The UK has pledged a total of $485 million, through to 2021. At 31st March 2012 this represented 32% of commitments made. Supplier agreements to facilitate vaccine demands have been signed with a value of $720 million, the UK share of this is $230 million. The net present value of this is £92 million, which will be covered by payment obligations up to 2015. | Not set | Not set | Not set | Not set | Not set | Not set |
| Provisions for Aid & Trade Provision (ATP) agreements represent sums which DFID is committed to pay to the Export Credit Guarantees Department (ECGD) for interest make-up and insurance premiums under former mixed credit agreements (Aid and Trade Provision) projects. The ATP scheme is effectively closed and will not significantly affect the amount of the provision. | Not set | Not set | Not set | Not set | Not set | Not set |
| Provisions for early retirement represent the full estimated cost of payments to be made by DFID to early retirees up to the normal retirement age. The timing of calls on the provision can be forecast with reasonable accuracy. The amount provided is uncertain only to the extent that adjustments may need to be made for up-rating of benefits and for unexpected changes in the number of beneficiaries. Amounts provided are likely to be used within at most 10 years. | Not set | Not set | Not set | Not set | Not set | Not set |
| Other provisions represent: | Not set | Not set | Not set | Not set | Not set | Not set |
| (a) sums for rents payable by the University of Greenwich for property occupied by a former Executive Agency of the Department, when the work of the Agency was taken over by the University. The main lease by the Department is treated as a finance lease. The rent received is lower than the finance charges incurred by the Department under the main lease. The provision covers the shortfall of rents receivable against finance charges payable over the main lease period to 2014. | Not set | Not set | Not set | Not set | Not set | Not set |
| (b) certain non-statutory pension obligations (most pension obligations for which DFID is responsible are included in the separate overseas superannuation account). | Not set | Not set | Not set | Not set | Not set | Not set |
| (c) estimated liabilities at the 31st March 2012 of overseas offices in respect of terminal benefit payments to staff appointed in country. | Not set | Not set | Not set | Not set | Not set | Not set |
| (d) redundancy liabilities for redundancies where decision had been reached at 31st March 2012 but terms had not been agreed between both parties. | Not set | Not set | Not set | Not set | Not set | Not set |
| The above relates to liabilities held by DFID. CSC and ICAI do not hold any liabilities requiring disclosure. | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |
| Not set | Not set | Not set | Not set | Not set | Not set | Not set |