The Christie Foundation Trust Annual Report and Accounts 2021-22
Consolidated Accounts of The Christie NHS Foundation Trust 2021-2022
11. Investments
11.1 Investment in joint ventures
All investments in joint ventures by The Christie NHS Foundation Trust Group have been entered into by The Christie NHS Foundation Trust.
2021-2022
TCPC
CPP £000
CPPFAC
Total £000
£000
£000
Carrying value at 1 April 2021
16,351
753
692
17,796
Share of profit
4,150
0
746
4,896
Carrying value at 31 March 2022
20,501
753
1,438
22,692
2020-2021
CPP £000
CPPFAC
TCPC
Total £000
£000
£000
Carrying value at 1 April 2020
19,506
753
488
20,747
Acquisitions in year
2,562 4,311
0 0 0
0
2,562 4,515
Share of profit
204
Less distributions
(10,028)
0
(10,028)
Carrying value at 31 March 2021
16,351
753
692
17,796
On 15 September 2010 the Trust entered into an LLP agreement with HCA International Limited to establish The Christie Clinic LLP - trading as The Christie Private Care (TCPC). The carrying value and profits represent the contractual arrangements of The Christie Clinic LLP.
In December 2020, The Christie Private Care opened two dedicated operating theatres for private oncology treatments. The Trust invested £2.5m reflecting The Christie Clinic LLP contractual requirements.
On 1st July 2012, TCPC entered into an agreement with practicing consultants to establish LOC@The Christie LLP. LOC is an abbreviation for Leaders in Oncology Care. The partnership provides outpatient chemotherapy services. The TCPC figures above include LOC@The Christie LLP.
On 1 June 2014 the Trust entered into an LLP agreement with Synlab UK Limited to establish The Christie Pathology Partnership LLP (CPP). The carrying value represents the value of non-current assets transferred from The Christie NHS Foundation Trust Group to The Christie Pathology Partnership LLP as part of the initial setup with Synlab investing working capital equal to the value of the non-current assets and the profits.
On 1 June 2016 the Trust entered into an LLP agreement with Synlab UK Limited to establish CPP Facilities LLP (CPPFAC). The carrying value represents the value and profits represent the contractual arrangements of CPP Facilities LLP.
11.2 Disclosure of aggregate amounts for assets of joint ventures
All investments in joint ventures by The Christie NHS Foundation Trust Group have been entered into by The Christie NHS Foundation Trust.
TCPC
CPP
CPP Facilities
Proportion of ownership interests held by The Christie NHS Foundation Trust
49.0%
49.9%
49.9%
Proportion of voting rights held by The Christie NHS Foundation Trust
50.0%
50.0%
50.0%
For The Christie Clinic LLP the residual proportions of ownership interests and voting rights are held by HCA International Limited and for The Christie Pathology Partnership LLP and CPP Facilities LLP by Synlab UK Limited.
For The Christie Clinic LLP, The Christie Pathology Partnership LLP and CPP Facilities LLP the figures in the note below are based on the draft accounts to the end of December 2021 and the Quarter 1 management accounts to the end of March 2022 but are not adjusted for share of profits attributable but not distributed to The Christie NHS Foundation Trust.
2021-2022
Gross Assets
Net Assets
Total Profit
As at 31 March 2022
As at 31 March 2022
2021-2022
£000
£000
£000
The Christie Clinic LLP (TCPC)
24,222
30,948
9,187
The Christie Pathology Partnership LLP (CPP)
3,957 4,621
2,618 1,840
913 579
CPP Facilities LLP (CPPFAC)
Total
32,800
35,406
10,679
2020-2021
Gross Assets
Total Profit
Net Assets
As at 31 March 2021
As at 31 March 2021
2020-2021
£000
£000
£000
The Christie Clinic LLP (TCPC)
22,684
20,020
10,164
The Christie Pathology Partnership LLP (CPP)
2,505 3,495
1,705 1,265
230 291
CPP Facilities LLP (CPPFAC)
Total
28,684
22,990
10,685
1 18 8
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