The Christie NHS FT Annual Report & Accounts 2019-20
Consolidated Accounts of The Christie NHS Foundation Trust 2019-2020
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.
2019-2020
TCPC
CPP £000
CPPFAC
Total £000
£000
£000
Carrying value at 1 April 2019
24,673
469
220
25,362
Acquisitions in year Share of profit/ (loss)
0
0
0
0
5,443
284
268
5,995
Impairments Disposals
0 0
0 0 0
0 0 0
0 0
Less distributions
(10,610)
(10,610)
Carrying value at 31 March 2020
19,506
753
488
20,747
2018-2019
CPP £000
CPPFAC
TCPC £000
Total £000
£000
Carrying value at 1 April 2018
26,080
442
119
26,641
Acquisitions in year Share of profit/ (loss)
0
0
0
0
5,743
27
101
5,871
Impairments Disposals
0 0
0 0 0
0 0 0
0 0
Less distributions
(7,150)
(7,150)
Carrying value at 31 March 2019
24,673
469
220
25,362
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. 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 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 2019 and the Quarter 1 management accounts to the end of March 2020 but are not adjusted for share of profits attributable but not distributed to The Christie NHS Foundation Trust. 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.
2019-2020
Gross Assets
Net Assets Total Profit/(Loss)
As at 31 March 2020
As at 31 March 2020
2019-2020
£000
£000
£000
The Christie Clinic LLP (TCPC)
33,207 2,654 2,364
31,413 1,482
13,328
The Christie Pathology Partnership LLP (CPP)
575 536
CPP Facilities LLP (CPPFAC)
981
Total
38,225
33,876
14,439
2018-2019
Net Assets Total Profit/(Loss)
Gross Assets
As at 31 March 2019
As at 31 March 2019
2018-2019
£000
£000
£000
The Christie Clinic LLP (TCPC)
37,442 1,531 1,788
35,813
12,941
The Christie Pathology Partnership LLP (CPP)
914 457
182 219
CPP Facilities LLP (CPPFAC)
Total
40,761
37,184
13,342
30 192
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