Finance bosses at Barnet and Chase Farm Hospitals NHS Trust are predicting it could be almost £6million in the red at the end of the next financial year.

Papers for the trust board meeting on Thursday last week, prepared by finance director Alan Levett, said it had not yet identified funding to cover the shortfall.

"Given the challenging financial position facing all NHS bodies this represents a significant risk at this stage," he wrote.

The predicted £5.93million shortfall is made up of money required to maintain existing services, "unavoidable cost pressures" including the need to support trust diagnostic services, and investment needed to meet government waiting time targets.

The trust has applied to Barnet Primary Care Trust (PCT) and the NHS Regional Office for funding to help make up the shortfall and is expecting a response later this month.

Mr Levett went on: "The package, if implemented, would enable the trust to make much needed investment in medical staffing, diagnostic services and bed capacity which would enable it to move forward against the NHS plan targets."

A trust spokeswoman said: "The trust is confident that it will meet its financial targets for next year.

"Like every NHS trust in the country it is always challenging to balance the books."