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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