The Christie Foundation Trust Annual Report and Accounts 2021-22

Consolidated Accounts of The Christie NHS Foundation Trust 2021-2022

10. Property, Plant and Equipment

The majority of Property, Plant and Equipment of The Christie NHS Foundation Trust Group are owned by The Christie NHS Foundation Trust. The Christie Charitable Fund owns an investment property comprising land and buildings (note 11.4). The investment property is reclassified in the Group accounts as Property, Plant and Equipment (note 10.1). The Christie Pharmacy Limited does not hold any Property, Plant and Equipment Assets.

10.1 Property, Plant and Equipment 2021-2022

Group

Assets under construction and payments on account

Buildings excluding dwellings

Plant and Machinery

Information Technology

Land

Total

£000

£000

£000

£000

£000

£000

Cost or Valuation at 1 April 2021

6,725

239,028

63,720

101,959

15,438

426,870

Transfer by Absorption Additions - purchased

0 0

0

0

11

1,321

1,332

2,484

67,077

3,829

801

74,191

Additions - purchased from The Christie Charitable Fund contributions

0

0

10,700

13,845

670

25,215

Impairments charged to Operating Expenses

0

(5,123) 12,527 32,624

0 0

0 0

0 0

(5,123) 13,039

Reversal of impairments credited to operating expenses

512

Reclassification

0

(43,019)

7,691

2,704

0

Revaluation

543

1,929

0 0

0

0 0

2,472

Disposals

0

0

(1,497) 125,838

(1,497) 536,499

Gross cost at 31 March 2022

7,780

283,469

98,478

20,934

Accumulated Depreciation Accumulated depreciation at 1 April 2021

0 0 0 0 0

0

0 0 0 0 0

47,435

9,599 1,929

57,034 16,931 (7,841) (1,428) 64,696

Charged during the year

7,841

7,161

Revaluation

(7,841)

0

0 0

Disposals

0 0

(1,428) 53,168

Accumulated depreciation at 31 March 2022

11,528

Net book value at 31 March 2022

7,780

283,469

98,478

72,670

9,406

471,803

NBV - purchased at 31 March 2022

7,539

189,546 12,023 27,976 53,924 283,469

98,472

56,080

8,609

360,246 12,023 27,976 71,558 471,803

NBV -purchased finance lease at 31 March 2022 NBV- Charity Funded Finance Lease at 31 March 2022

0 0

0 0

0 0

0 0

NBV - Purchased from the Christie Charitable Fund 31 March 2022

241

6

16,590 72,670

797

Net book value at 31 March 2022

7,780

98,478

9,406

* The Christie Charitable Fund owns an investment property which is leased by The Christie NHS Foundation Trust. Applying IAS16, the property is regarded as owner-occupied from the group perspective. The property has been valued as an owned asset and then reclassified as Property, Plant and Equipment.

Land and buildings were revalued as at 31 March 2022 (previously revalued at 31 March 2021). The valuation exercise was carried out by an independent professional valuer. Independent valuations have not been undertaken for the remaining classes of Property, Plant and Equipment as their carrying amount is deemed to be the fair value.

The Christie Charitable Fund has provided funding to purchase assets. There are no restrictions placed on the use of these assets as part of the offer of funding and as such the Trust has full ownership of these assets.

In 2020-21, the Trust received medical equipment from the DHSC under its programme to assist trusts in their response to Covid during the year. These items of equipment are accounted for as donated assets in accordance with guidance issued.

Purchased finance leases are comprised of the Salford satellite centre £8,099k (2020-21 £7,565k), the Macclesfield satellite centre £2,599k (brought into use in 2021-22) and the Manchester Cancer Research Centre (MCRC) of £1,326k (2020-21 £1,238k).

Finance leases funded from The Christie Charitable Fund contributions are comprised of the Oldham satellite centre £11,273k (2020-21 £10,527k), the Macclesfield satellite centre £15,962k (brought into use in 2021-22) and the Manchester Cancer Research Centre (MCRC) of £743k (2020-21 £694k).

The Trust holds a 40 year lease for the Oldham satellite centre for use of part of the building located on land owned by Pennine Acute NHS Trust which was paid for up front and in full in March 2010. For the Salford satellite centre the Trust holds a 60 year lease with Salford Royal NHS Foundation Trust which was similarly paid for up front and in full in June 2011. The MCRC building located on the Withington site was paid for by the University of Manchester. The Trust holds a 125 year sublease for part occupancy of this building, which has been paid for upfront. The new Macclesfield satellite centre, which was completed and brought into use in 2021-22 was also paid for up front and in full in 2021-22. The Trust has entered into a 50 year lease with East Cheshire NHS Trust to occupy and operate the facility on its site.

10.2 Property, Plant and Equipment 2020-2021

Group

Assets under construction and payments on account

Buildings excluding dwellings

Plant and Machinery

Information Technology

Land

Total

£000

£000

£000

£000

£000

£000

Cost or Valuation at 1 April 2020

6,725

246,509

24,686 41,295

98,579

13,913

390,412 49,123

Additions - purchased

0

3,052

3,251

1,525

Additions - purchased from The Christie Charitable Fund contributions

0 0 0 0 0 0 0

0 0

6,134

0

0 0 0 0 0 0 0

6,134

0 0 0

186

186

Impairments charged to Operating Expenses

Reversal of impairments credited to operating expenses

(10,299)

0 0

(10,299)

Reclassification of investment property

572

572

Reclassifications

0 0

Revaluation

8,395

(8,395)

0 0

Disposals

(9,201)

0 0

(9,201)

Gross cost at 31 March 2021

0

(57)

(57)

6,725

239,028

63,720

101,959

15,438

426,870

Accumulated Depreciation Accumulated depreciation at 1 April 2020

0 0 0 0 0

0

0 0 0 0 0

40,287

7,989 1,610

48,276 16,606 (7,797)

Charged during the year

7,797

7,199

Revaluation

(7,797)

0

0 0

Disposals

0 0

(51)

(51)

Accumulated depreciation at 31 March 2021

47,435

9,599

57,034

Net book value at 31 March 2021

6,725

239,028

63,720

54,524

5,839

369,836

NBV - purchased at 31 March 2021

6,518

168,221

57,580

50,912

5,625

288,856

NBV -purchased finance lease at 31 March 2021 NBV- Charity Funded Finance Lease at 31 March 2021 NBV - Purchased from the Christie Charitable Fund 1 April 2021

0 0

8,803

0 0

0 0

0 0

8,803

11,220 50,784 239,028

11,220 60,957 369,836

207

6,140

3,612

214

Net book value at 1 April 2021

6,725

63,720

54,524

5,839

1 18 6