46Spire Healthcare Annual Review 2010Spire Healthcare Limited PartnershipConsolidated balance sheetAs at 31 December 2010Notes2010£0002009 £000ASSETSNon-current assetsIntangible assets9514,889511,150Property, plant and equipment101,483,6911,449,885Investments1199Deferred tax asset173,9689,2152,002,5571,970,259Current assetsInventories1221,66820,444Trade and other receivables1374,77677,967Cash and cash equivalents1459,60539,078156,049137,489Total assets2,158,6062,107,748EQUITY AND LIABILITIESEquityCapital accounts2030,20030,176Hedging reserve(153,749)(123,028)Retained earnings(233,359)(181,085)Equity attributable to owners of the parent(356,908)(273,937)Non-controlling interests282-Total equity(356,626)(273,937)Non-current liabilitiesBorrowings151,936,7181,831,842Derivative financial instruments18157,467124,144Deferred tax17244,067258,6712,338,2522,214,657Current liabilitiesProvisions161,1421,790Borrowings1532,80727,381Derivative financial instruments1852,06351,218Trade and other payables1990,96886,639176,980167,028Total liabilities2,515,2322,381,685Total equity and liabilities2,158,6062,107,748These financial statements were approved and authorised for issue by the General Partner on 28 April 2011 and were signed on its behalf by:For and on behalf of the General PartnerDirectorSpire Healthcare (GP1) LimitedThe accounting policies and notes form part of these financial statements.

47Spire Healthcare Limited PartnershipConsolidated statement of cash flowsFor the year ended 31 December 2010 2010 2009£000£000£000£000Cash flows from operating activitiesLoss before taxation(51,304)(64,203)Adjustments for: depreciation45,80041,031 share-based payments261- loss on disposal of property, plant and equipment16360 finance income(93)(25) finance costs174,085168,233168,765145,396Movements in working capital: decrease/(increase) in trade and other receivables2,7913,577 (increase)/decrease in inventories(952)(1,970) increase/(decrease) in trade and other payables620(4,024) increase/(decrease) in provisions(961)524Cash generated from operations170,263143,503Income taxes received343,293Net cash from operating activities170,297146,796Cash flows from investing activitiesAcquisition of Group undertakings(6,100)-Purchase of property, plant and equipment(44,548)(66,988)Proceeds from disposal of property, plant and equipment8-Interest received93213Net cash used in investing activities(50,547)(66,775)Cash flows from financing activitiesInterest paid(98,685)(92,118)Debt issue costs(1,801)(6,777)Repayments of borrowings(23,066)(26,584)Proceeds from issue of equity24-Proceeds from long-term borrowing24,30539,335Net cash used in financing activities(99,223)(86,144)Net increase/(decrease) in cash and cash equivalents20,527(6,123)Cash and cash equivalents at beginning of year39,07845,201Cash and cash equivalents at end of year59,60539,078Note During the year the Group also revised its lease arrangements, as a result £32,829,000 of assets were capitalised as finance leases (see note 15).