The Christie NHS FT Annual Report & Accounts 2019-20

Consolidated Accounts of The Christie NHS Foundation Trust 2019-2020

16. Borrowings

All Borrowings of The Christie NHS Foundation Trust Group are by The Christie NHS Foundation Trust. The Christie Charitable Fund does not have any Borrowings. The Christie Pharmacy Limited has a £2m interest bearing loan from The Christie NHS Foundation Trust which is repayable over 5 years.

16.1 Borrowings

Group

Current

Non-current

2018-2019

2018-2019

2019-2020

2019-2020

£000

£000

£000

£000

Loan from ITFF

936

12,797 46,689

933

11,886 45,430

Loan from ITFF - Proton Beam Therapy Unit

2,804

2,876

3,741

59,486

Total

3,809

57,316

Loans from Independent Trust Financing Facility (ITFF)

16.1.1 The Trust had an application for a £21m loan to support its investment in new buildings to improve patient access to services approved by the Foundation Trust Financing Facility. Repayment of the loan principle commenced from 15 September 2011 on a bi-annual basis. The loan is charged at a fixed interest rate of 4.2% per annum. The final repayment date is 15 March 2034. 16.1.2 The Trust had an application for a £52.5m loan to support its investment in the Proton Beam Therapy Unit approved by the Independent Trust Financing Facility. The Trust had drawn down £51.401m of the loan as at 31 March 2020. Repayment of the loan commenced in November 2018 and is on a bi-annual basis. The loan is charged at a fixed interest rate of 2.14% per annum.

16.2 Reconciliation of liabilities arising from financing activities

Group DHSC Loans £000

63,226

Carrying value at 1 April 2019

Cash movements: Financing cash flows - receipts of principal Financing cash flows - payments of principal Financing cash flows - payments of interest

1,250 (3,359) (1,580)

Non-cash movements: Interest charge arising in year

1,588

Carrying value at 31 March 2020

61,125

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