Contents
- Draft Narrative Report
- Draft Responsibilities for the Statement of Accounts
- Draft Comprehensive Income and Expenditure Statement
- Draft Movement in Reserves Statement
- Draft Balance Sheet
- Draft Cash Flow Statement
- Draft Notes to the Accounts 1 to 10
- Draft Notes to the Accounts 11 to 20
- Draft Notes to the Accounts 21 to 30
- Draft Notes to the Accounts 31 to 42
- Draft Collection Fund
- Draft Group Accounts
- Draft Pension Fund Accounts 2022 to 2023
- Draft Annual Governance Statement 2022 to 2023
- Draft Glossary
Draft Collection Fund
Collection Fund
This account reflects the statutory requirement to maintain a separate Collection Fund, which shows the transactions of the Council as a billing authority in relation to National Non-Domestic Rates (NNDR) and Council Tax. It illustrates the way in which these have been distributed to precepting authorities and the Council's own General Fund. The introduction to the Business Rate Retention Scheme requires Local Authorities to maintain separate Collection Fund Accounts for Business Rates and Council Tax as follows. The levy of £0.02 on NNDR properties over £70k relating to Business Rate Supplement (BRS) collected in respect of Crossrail in London and the levy due is also reflected in this statement:
| Business Rates NNDR3 in thousands of pounds |
Business Rate Supplement in thousands of pounds |
Council Tax in thousands of pounds |
Totals in thousands of pounds |
|
|---|---|---|---|---|
| Income: Council Tax receivable |
none | none | (161,750) | (161,750) |
| Business Rates receivable | (67,609) | none | none | (67,609) |
| Business Rate Supplement (BRS) receivable | none | (2,177) | none | (2,177) |
| Total Income | (67,609) | (2,177) | (161,750) | (231,536) |
| Less Write offs of uncollectable amounts | (131) | none | (3) | (134) |
| Less (incr)/decrease in provision for bad debts | (2,260) | none | 3,170 | 910 |
| Less (incr)/decrease in provision for appeals | (423) | none | none | (423) |
| Less Disregarded amounts | 18 | none | none | 18 |
| Distribution of previous years Surplus - Central Gov | (6,820) | none | none | (6,820) |
| Distribution of previous years Surplus - Bexley | (6,200) | none | (2,376) | (8,576) |
| Distribution of previous years Surplus - GLA | (7,647) | none | (556) | (8,203) |
| Total Charges to the Collection Fund | (23,463) | none | 235 | (23,228) |
| Collectable Rates | (91,072) | (2,177) | (161,515) | (254,764) |
| Less Other Charges: Transitional Protection sums due to/(from) Central Gov |
90 | none | none | 90 |
| BRS Due to/from GLA | none | (118) | none | (118) |
| Cost of Collection Allowance | 238 | 6 | none | 244 |
| Sub-Total council tax and NNDR income 2022/23 | (90,744) | (2,289) | (161,515) | (254,548) |
| Demands, Precepts and Proportionate Shares and Levies: MHCLG/Central Government |
22,992 | none | none | 22,992 |
| London Borough of Bexley | 20,902 | none | 125,346 | 146,248 |
| Greater London Authority | 25,779 | none | 32,464 | 58,243 |
| Business Rate Supplement: Business Rate Supplement (BRS) Levy due |
none | 1,886 | none | 1,886 |
| BRS Admin Costs | none | 79 | none | 79 |
| Totals | 69,673 | 1,965 | 157,810 | 229,448 |
| Less NNDR 1 and NNDR 3 Reconciliation amounts | none | none | none | none |
| (Surplus)/Deficit arising during the year | (21,071) | (324) | (3,705) | (25,100) |
| (Surplus)/Deficit brought forward 1 April 2022 | 18,968 | (649) | 2,080 | 20,399 |
| Estimated (Surplus)/Deficit payable in 2022/23: (Surplus)/Deficit arising during the year including paid in year per NNDR3 |
(2,103) | (973) | (1,625) | (4,701) |
| Collection Fund Surplus/(Deficit) | Business Rates NNDR3 in thousands of pounds |
Business Rate Supplement in thousands of pounds |
Council Tax in thousands of pounds |
Totals in thousands of pounds |
|---|---|---|---|---|
| MHCLG /Central Government | (694) | none | none | (694) |
| London Borough of Bexley | (631) | none | (1,244) | (1,875) |
| Greater London Authority | (778) | (973) | (382) | (2,133) |
| (Surplus)/Deficit carried forward 31 March 2023 | (2,103) | (973) | (1,626) | (4,702) |
| Debtors and Prepayments | Business Rates in thousands of pounds |
Business Rate Supplement in thousands of pounds |
Council Tax in thousands of pounds |
2022/23 in thousands of pounds |
|---|---|---|---|---|
| Sums outstanding from Ratepayers (Arrears/Debtors) | 5,328 | 46 | 39,879 | 45,253 |
| Prepayments and Overpayments | (3,267) | none | (4,136) | (7,403) |
Collection Fund - Comparative Information
This account reflects the statutory requirement to maintain a separate Collection Fund, which shows the transactions of the Council as a billing authority in relation to National Non-Domestic Rates (NNDR) and Council Tax. It illustrates the way in which these have been distributed to precepting authorities and the Council's own General Fund. The introduction to the Business Rate Retention Scheme requires Local Authorities to maintain separate Collection Fund Accounts for Business Rates and Council Tax as follows. The levy of £0.02 on NNDR properties over £70k relating to Business Rate Supplement (BRS) collected in respect of Crossrail in London and the levy due is also reflected in this statement:
| Business Rates NNDR3 in thousands of pounds |
Business Rate Supplement in thousands of pounds |
Council Tax in thousands of pounds |
Totals in thousands of pounds |
|
|---|---|---|---|---|
| Income: Council Tax receivable |
none | none | (154,173) | (154,173) |
| Business Rates receivable | (65,881) | none | none | (65,881) |
| Business Rate Supplement (BRS) receivable | none | (2,036) | none | (2,036) |
| Total Income | (65,881) | (2,036) | (154,173) | (222,090) |
| Less Write offs of uncollectable amounts | none | none | none | none |
| Less (incr)/decrease in provision for bad debts | (1,447) | none | 3,492 | 2,045 |
| Less (incr)/decrease in provision for appeals | 390 | none | none | 390 |
| Less Disregarded amounts | none | none | none | none |
| Distribution of previous years Surplus - Central Gov | (9,914) | none | none | (9,914) |
| Distribution of previous years Surplus - Bexley | (8,631) | none | (968) | (9,599) |
| Distribution of previous years Surplus - GLA | (11,131) | none | (227) | (11,358) |
| Total Charges to the Collection Fund | (30,733) | none | 2,297 | (28,436) |
| Collectable Rates | (96,614) | (2,036) | (151,876) | (250,526) |
| Less Other Charges: Transitional Protection sums due to/(from) Central Gov |
353 | none | none | 353 |
| BRS Due to/(from) GLA | none | 359 | none | 359 |
| Cost of Collection Allowance | 241 | 6 | none | 247 |
| Sub-Total council tax and NNDR income 2021/22 | (96,020) | (1,671) | (151,876) | (249,567) |
| Demands, Precepts and Proportionate Shares and Levies: MHCLG/Central Government |
25,823 | none | none | 25,823 |
| London Borough of Bexley | 23,475 | none | 121,228 | 144,703 |
| Greater London Authority | 28,953 | none | 29,726 | 58,679 |
| Business Rate Supplement: Business Rate Supplement (BRS) Levy due |
none | 1,823 | none | 1,823 |
| BRS Admin Costs | none | 79 | none | 79 |
| Totals | 78,251 | 1,902 | 150,954 | 231,107 |
| Less NNDR 1 and NNDR 3 Reconciliation amounts | none | none | none | none |
| (Surplus)/Deficit arising during the year | (17,769) | 231 | (922) | (18,460) |
| (Surplus)/Deficit brought forward 1 April 2021 | 36,737 | (880) | 3,002 | 38,859 |
| Estimated Surplus/Deficit payable in 2021/22: (Surplus)/Deficit arising during the year including paid in year per NNDR3 |
18,968 | (649) | 2,080 | 20,399 |
| Collection Fund (Surplus)/Deficit | Business Rates NNDR3 in thousands of pounds |
Business Rate Supplement in thousands of pounds |
Council Tax in thousands of pounds |
Totals in thousands of pounds |
|---|---|---|---|---|
| MHCLG /Central Government | 6,260 | none | none | 6,260 |
| London Borough of Bexley | 5,691 | none | 1,748 | 7,439 |
| Greater London Authority | 7,018 | (649) | 331 | 6,700 |
| (Surplus)/Deficit carried forward 31 March 2022 | 18,969 | (649) | 2,079 | 20,399 |
| Debtors and Prepayments | Business Rates in thousands of pounds |
Business Rate Supplement in thousands of pounds |
Council Tax in thousands of pounds |
2021/22 in thousands of pounds |
|---|---|---|---|---|
| Sums outstanding from Ratepayers (Arrears/Debtors) | 7,359 | 85 | 35,160 | 42,604 |
| Prepayments and Overpayments | (2,918) | none | (3,046) | (5,964) |
Notes to the Collection Fund
Note 1 - Council Tax
Council Tax income derives from charges raised according to the value of residential properties, which have been classified into 8 Valuation Bands. Individual charges are calculated by estimating the amount of income required to be taken from the Collection Fund in the forthcoming year by the Council and its preceptors (Authorities we collect Council Tax for).
The Council's preceptors are between the London Borough of Bexley and the Greater London Authority. The total Council Tax requirement is then divided by the Council Tax Base.
The Council Tax Base is calculated before the start of the new year by estimating the number of dwellings in each valuation band (adjusted for discounts, where applicable) and converting this into an equivalent number of Band D dwellings.
| Bands and value ranges | Estimated number of properties | Multiplier | 2021/22 Band D equivalent in thousands of pounds |
2022/23 Band D equivalent in thousands of pounds |
|---|---|---|---|---|
| A - Reduced Band A | 5 none |
5/9 | 2 | 3 |
| A - up to £40,000 | 2,536 | 6/9 | 1,708 | 1,691 |
| B - from £40,001 to £52,000 | 6,958 | 7/9 | 5,398 | 5,412 |
| C - from £52,001 to £68,000 | 23,737 | 8/9 | 20,973 | 21,099 |
| D - from £68,001 to £88,000 | 24,191 | 9/9 | 24,183 | 24,191 |
| E - from £88,001 to £120,000 | 17,546 | 11/9 | 21,341 | 21,445 |
| F - from £120,001 to £160,000 | 4,676 | 13/9 | 6,657 | 6,754 |
| G - from £160,001 to £352,000 | 1,588 | 15/9 | 2,653 | 2,647 |
| H - from £40,001 to £52,006 | 36 | 18/9 | 72 | 73 |
| Subtotal | 82,987 | 83,315 | ||
| Less Allowance for non-collection | (1,245) | (1,250) | ||
| Council Tax Base | 81,273 | 81,742 | 82,065 |
Note 2 - Preceptors Council Tax
| Preceptors | 2021/22 in thousands of pounds |
2022/23 in thousands of pounds |
|---|---|---|
| Greater London Authority | 29,726 | 32,464 |
| London Borough of Bexley | 121,228 | 125,346 |
| Total demand on Collection Fund | 150,954 | 157,810 |
Note 3 - NNDR Rateable Values
| Values | 2021/22 in thousands of pounds |
2022/23 in thousands of pounds |
|---|---|---|
| Non-Domestic Rateable Value Gross | 189.96m | 190.25m |
| Standard Business Rate | 51.2p | 51.2p |
| Small Business Rate | 49.9p | 49.9p |
| Business Rates Receivable after reliefs and transition | 65.88m | 67.61m |
Note 4 - Business Rate Supplement (BRS) - Crossrail
The Mayor of London introduced a levy of 2p on non-domestic properties with a rateable value of over £70k in London from 1 April 2010, to help pay for Crossrail. Powers were granted to the Greater London Council (GLA) to introduce this under the Business Rates Supplements Act 2009. The Crossrail Business Rate Supplement (BRS) is being collected on behalf of the GLA by the Council along with general business rates (NNDR). Income collected and payments made to the GLA are included in the Collection Fund.