Statement of Revenue and Expenditure
for the 10 years ended 31 March 2019
| Note | 2018 - 19 £ bln | 2017 - 18 £ bln | 2016 - 17 £ bln | 2015 - 16 £ bln | 2014 - 15 £ bln | 2013 - 14 £ bln | 2012 - 13 £ bln | 2011 - 12 £ bln | 2010 - 11 £ bln | 2009 - 10 £ bln | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Taxation revenue from direct taxes | 4 | (685.7) | (661.6) | (628.1) | (592.6) | (312.8) | (308.9) | (289.1) | (291.4) | (296.4) | (285.2) |
| Taxation revenue from indirect taxes | - | - | - | (200.0) | (194.1) | (179.4) | (177.5) | (165.2) | (148.0) | ||
| Taxation revenue from local taxes | - | - | - | (53.9) | (52.8) | (55.9) | (54.8) | (53.8) | (52.1) | ||
| Revenue from sales of goods and services | - | - | - | (33.4) | (39.0) | (42.7) | (41.8) | (49.8) | (51.0) | ||
| Other revenue | 5 | (109.9) | (99.3) | (92.7) | (101.3) | (59.2) | (58.1) | (53.6) | (51.1) | (48.8) | (47.1) |
| Total public services revenue | (795.6) | (760.9) | (720.8) | (693.9) | (659.3) | (652.9) | (620.7) | (616.6) | (614.0) | (583.4) | |
| Social security benefits | 6 | 230.3 | 225.9 | 223.7 | 222.5 | 217.7 | 213.4 | 215.0 | 209.7 | 204.0 | 197.1 |
| Staff costs | 7 | 255.7 | 215.8 | 191.1 | 193.3 | 193.8 | 187.8 | 183.3 | 183.2 | 193.1 | 179.7 |
| Pension past service costs and indexation adjustment | - | - | - | - | - | 0.3 | 1.0 | (126.0) | 0.7 | ||
| Purchase of goods, services and other expenditure | 8 | 206.5 | 212.2 | 194.8 | 192.1 | 191.7 | 190.6 | 163.0 | 153.8 | 159.2 | 160.9 |
| Grants and subsidies | 9 | 58.8 | 51.2 | 53.6 | 54.1 | 57.4 | 56.0 | 56.3 | 61.6 | 68.4 | 66.2 |
| Depreciation and impairment | 10 | 47.9 | 57.7 | 47.1 | 42.7 | 45.4 | 51.1 | 51.1 | 64.4 | 80.4 | 51.6 |
| Interest costs on government borrowing | 11 | 31.6 | 36.8 | 31.8 | 28.3 | - | - | 19.3 | 24.0 | 18.3 | (17.0) |
| Increase in provisions | 22 | 21.0 | 15.2 | 18.6 | 9.2 | 27.9 | 19.5 | 29.0 | 17.4 | 27.5 | 28.0 |
| Total expenditure on public services | 851.8 | 814.8 | 760.7 | 742.2 | 733.9 | 718.4 | 717.3 | 715.1 | 624.9 | 667.2 | |
| Net expenditure before financing costs | 56.2 | 53.9 | 39.9 | 48.3 | 74.6 | 65.5 | 96.6 | 98.5 | 10.9 | 83.8 | |
| Investment revenue | - | - | - | (7.2) | (7.5) | (4.8) | (5.2) | (5.1) | (4.4) | ||
| Financing costs of long-term liabilities, including discounting | 11 | (56.6) | 153.7 | 68.3 | 187.4 | 34.2 | 38.3 | 36.3 | 42.3 | 40.5 | 33.1 |
| Net interest on pension scheme liabilities | - | - | - | 56.6 | 49.1 | 59.0 | 64.8 | 60.8 | 58.9 | ||
| Expected return on funding pension schemes’ assets | - | - | - | - | - | (11.1) | (13.8) | (13.0) | (9.0) | ||
| Net financing costs | 207.6 | 108.2 | 235.7 | 83.6 | 79.9 | 79.4 | 88.1 | 83.2 | 78.6 | ||
| Revaluation of financial assets and liabilities | (1.1) | 4.8 | (10.4) | 8.1 | (4.5) | 4.6 | (0.6) | (1.6) | (3.3) | (0.9) | |
| Net (profit)/loss on disposal of assets | - | - | - | (1.7) | (4.3) | 3.3 | 0.3 | 3.6 | 1.2 | ||
| Net expenditure for the year | (1.5) | 212.4 | 97.8 | 243.8 | 152.0 | 145.7 | 178.7 | 185.3 | 94.4 | 162.7 |
References
Whole of Government Financial Statements 31 March 2020 (not yet available)
Whole of Government Financial Statements 31 March 2019 page 77
Whole of Government Financial Statements 31 March 2018 page 95
Whole of Government Financial Statements 31 March 2017 page 73
Whole of Government Financial Statements 31 March 2016 page 49
`Whole of Government Financial Statements 31 March 2015 page 35
Whole of Government Financial Statements 31 March 2014 page 51
Whole of Government Financial Statements 31 March 2013 page 49
Whole of Government Financial Statements 31 March 2012 page 37
Whole of Government Financial Statements 31 March 2011 page 91
Whole of Government Financial Statements 31 March 2010 page 71
Statement of Comprehensive Income and Expenditure
for the 10 years ended 31 March 2019
| Note | 2018 - 19 £ bln | 2017 - 18 £ bln | 2016 - 17 £ bln | 2015 - 16 £ bln | 2014 - 15 £ bln | 2013 - 14 £ bln | 2012 - 13 £ bln | 2011 - 12 £ bln | 2010 - 11 £ bln | 2009 - 10 £ bln | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net expenditure for the year | (1.5) | 212.4 | 97.8 | 243.8 | 152.0 | 145.7 | 178.7 | 185.3 | 94.4 | 162.7 | |
| Other comprehensive income and expenditure: | |||||||||||
| Net (gain)/loss on: | |||||||||||
| Revaluation of property, plant and equipment | (49.8) | (37.4) | (37.7) | (31.0) | (22.2) | (13.0) | (7.1) | (19.8) | (21.2) | (7.0) | |
| Revaluation of intangible assets | (0.1) | (0.7) | (1.3) | (0.3) | (0.6) | 2.2 | |||||
| Revaluation of other assets | 3.3 | (1.0) | (1.4) | 0.4 | (3.9) | (8.7) | (5.6) | 2.5 | 2.1 | (11.3) | |
| Revaluation of pension scheme liabilities | (71.1) | (38.6) | 361.4 | (123.0) | 134.7 | 83.5 | 97.4 | (1.4) | (99.9) | 286.8 | |
| Other comprehensive income and expenditure | (117.7) | (77.7) | 321.0 | (153.9) | 108.0 | 64.0 | 84.7 | (18.7) | (119.0) | 268.5 | |
| Total comprehensive expenditure for the year | (119.2) | 134.7 | 418.8 | 89.9 | 260.0 | 209.7 | 263.4 | 166.6 | (24.6) | 431.2 |
Statement of Changes in Taxpayers' Equity
for the 10 years ended 31 March 2019
| Note | 2018-19 £bn | 2017-18 £bn (restated) | 2016-17 £bn (restated) | 2015-16 £bn | 2014-15 £bn (restated) | 2013-14 £bn (restated) | 2012-13 £bn | 2011-12 £bn | 2010-11 £bn | 2009-10 £bn |
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at 1 April | (2565.2) | (2420.7) | (1986.0) | (1875.2) | (1840.6) | (1627.9) | (1346.9) | (1185.7) | (1227.9) | (781.3) | |
| Net expenditure for the year ended 31 March | 1.5 | (212.4) | (97.8) | (243.8) | (152.0) | (148.6) | (178.7) | (185.3) | (94.4) | (164.5) | |
| Net gain/(loss) on: | |||||||||||
| Revaluation of property, plant and equipment | 49.8 | 37.4 | 37.7 | 31.0 | 22.2 | 10.8 | 7.1 | 19.8 | 21.2 | 7.0 | |
| Revaluation of intangible assets | 0.1 | 0.7 | 1.3 | 0.3 | 0.6 | - | - | - | - | - | |
| Revaluation of other assets | (3.3) | 1.0 | 1.4 | (0.4) | 3.9 | 8.7 | 5.6 | (2.5) | (2.1) | 11.3 | |
| Revaluation of pension scheme liabilities | 71.1 | 38.6 | (361.4) | 123.0 | (134.7) | (83.5) | (97.4) | 1.4 | 99.9 | (286.8) | |
| Receipt of donated/government granted assets | - | - | - | - | (1.8) | - | (0.1) | 0.9 | 1.4 | ||
| Other reserves movements including transfers | (9.8) | (10.0) | (15.9) | (20.9) | (2.6) | (9.5) | (19.3) | 5.4 | 9.0 | 1.1 | |
| Balance at 31 March | (2455.8) | (2565.4) | (2420.7) | (1986.0) | (2103.2) | (1851.8) | (1629.6) | (1347.0) | (1193.4) | (1211.8) | |
| Restatements | 0.2 | - | - | 228.0 | 11.2 | 1.7 | 0.1 | 7.7 | (16.1) | ||
| Balance at 1 April | (2565.2) | (2420.7) | (1986.0) | (1875.2) | (1840.6) | (1627.9) | (1346.9) | (1185.7) | (1227.9) |
Statement of Financial Position (Part 1)
for the 10 years ended 31 March 2019
| Note | 2018-19 £bn | 2017-18 £bn (restated) | 2016-17 £bn (restated) | 2015-16 £bn | 2014-15 £bn (restated) | 2013-14 £bn (restated) | 2012-13 £bn | 2011-12 £bn | 2010-11 £bn | 2009-10 £bn |
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-current assets | |||||||||||
| Property, plant and equipment | 12 | 1268.0 | 1208.4 | 1167.6 | 1120.2 | 1075.8 | 812.3 | 746.8 | 744.5 | 714.0 | 712.8 |
| Investment property | 13 | 22.9 | 20.0 | 18.2 | 15.8 | 14.9 | 13.9 | 12.4 | 12.6 | 12.4 | 12.0 |
| Intangible assets | 14 | 37.4 | 36.0 | 34.5 | 33.0 | 32.4 | 31.9 | 34.5 | 35.2 | 34.8 | 36.3 |
| Trade and other receivables | 15 | 17.9 | 19.1 | 15.2 | 14.4 | 12.7 | 17.7 | 16.6 | 15.9 | 15.1 | 14.4 |
| Equity investment in the public sector banks | - | - | - | - | 43.0 | 40.0 | 40.8 | 59.5 | 61.1 | ||
| Other financial assets | 16 | 320.6 | 323.3 | 260.8 | 208.8 | 216.6 | 164.6 | 158.6 | 125.0 | 120.4 | 119.2 |
| Total non-current assets | 1666.8 | 1606.8 | 1496.3 | 1392.2 | 1352.4 | 1083.4 | 1008.9 | 974.0 | 956.2 | 955.8 | |
| Current assets | |||||||||||
| Inventories | 17 | 9.7 | 9.9 | 9.2 | 9.6 | 11.3 | 11.8 | 12.1 | 11.4 | 12.0 | 12.0 |
| Trade and other receivables | 15 | 172.4 | 160.8 | 158.0 | 140.3 | 133.2 | 131.9 | 122.3 | 126.0 | 130.0 | 125.0 |
| Other financial assets | 16 | 194.3 | 184.3 | 198.1 | 164.2 | 148.9 | 26.9 | 117.6 | 125.5 | 102.7 | 128.0 |
| Cash and cash equivalents | 18 | 44.2 | 34.3 | 28.3 | 25.8 | 26.8 | 7.7 | 24.5 | 21.2 | 22.5 | 19.7 |
| Gold holdings | 9.9 | 9.4 | 9.9 | 8.6 | 8.0 | 1.7 | 10.5 | 10.4 | 9.0 | 7.3 | |
| Assets held for sale | 1.5 | 8.3 | 3.2 | 1.7 | 2.7 | 151.5 | 1.6 | 2.1 | 1.9 | 1.7 | |
| Total current assets | 432.0 | 407.0 | 406.7 | 350.2 | 330.9 | 331.5 | 288.6 | 296.6 | 278.1 | 293.7 | |
| Total assets | 2098.8 | 2013.8 | 1903.0 | 1742.4 | 1683.3 | 1414.9 | 1297.5 | 1270.6 | 1234.3 | 1249.5 |
Statement of Financial Position (continued)
for the 10 years ended 31 March 2019
Note 2018-19 £bn 2017-18 £bn
(restated)2016-17 £bn
(restated)2015-16
£bn 2014-15
£bn (restated)2013-14
£bn (restated)2012-13
£bn 2011-12
£bn 2010-11
£bn 2009-10
£bn
Total current assets 432.0 407.0 406.7 350.2 330.9 331.5 288.6 296.6 278.1 293.7
Total assets 2098.8 2013.8 1903.0 1742.4 1683.3 1414.9 1297.5 1270.6 1234.3 1249.5
Current liabilities
Trade and other payables 19 (133.3) (126.8) (122.5) (114.7) (108.8) (107.0) (98.3) (103.7) (98.6) (103.1)
Government borrowings 20 (307.2) (275.6) (275.5) (274.2) (235.2) (212.4) (214.3) (224.2) (217.0) (200.9)
Other financial liabilities 21 (652.1) (654.0) (584.9) (452.5) (444.2) (17.1) (408.4) (13.6) (11.6) (15.7)
Provisions 22 (17.7) (16.4) (15.6) (14.7) (14.9) (432.8) (13.4) (341.1) (259.4) (270.1)
Total current liabilities (1110.3) (1072.8) (998.5) (856.1) (803.1) (769.3) (734.4) (682.6) (586.6) (589.8)
Net current liabilities (678.3) (665.8) (591.8) (505.9) (472.2) (437.8) (445.8) (386.0) (308.5) (296.1)
Total assets less current liabilities 1420.5 941.0 904.5 886.3 880.2 645.6 563.1 588.0 647.7 659.7
Non-current liabilities
Trade and other payables 19 (58.6) (64.4) (63.1) (65.5) (64.1) (66.0) (55.2) (55.2) (49.8) (74.0)
Government borrowings 20 (1100.0) (1071.8) (1013.5) (986.4) (939.3) (883.7) (781.9) (741.3) (691.2) (580.9)
Other financial liabilities 21 (98.1) (98.8) (107.3) (104.9) (98.3) (137.5) (117.6) (99.4) (95.4) (86.5)
Provisions 22 (293.7) (406.1) (306.6) (290.8) (160.4) (1303.1) (1171.9) (1005.8) (961.0) (1134.7)
Net public sector pension liability 24 (1893.9) (1865.3) (1834.7) (1424.7) (1493.3) (95.9) (64.4) (33.2) (36.0) (11.5)
Total non-current liabilities (3444.3) (3506.4) (3325.2) (2872.3) (2755.4) (2486.2) (2191.0) (1934.9) (1833.4) (1887.6)
Total liabilities (4554.6) (4579.2) (4323.7) (3728.4) (3558.5) (3255.5) (2925.4) (2617.5) (2420.0) (2477.4)
Net liabilities (2455.8) (2565.4) (2420.7) (1986.0) (1875.2) (1840.6) (1627.9) (1346.9) (1185.7) (1227.9)
Financed by taxpayers’ equity:
General reserve (3018.6) (3131.5) (2948.1) (2504.4) (2379.7) 2099.7 1876.6 1588.9 1422.7 1426.9
Revaluation reserve 558.6 562.0 482.4 514.5 501.0 (255.9) (245.0) (238.8) (231.4) (214.9)
Other reserves 4.2 4.1 45.0 3.9 3.5 (3.2) (3.7) (3.2) (5.6) 15.9
Total liabilities to be funded by future revenues (2455.8) (2565.4) (2420.7) (1986.0) (1875.2) (1840.6) (1627.9) (1346.9) (1185.7) (1227.9)