The Christie NHS FT Annual Report & Accounts 2019-20

The Christie NHS Foundation Trust Annual Report & Accounts 2019-20

Pathology Partnership LLP will allow the Trust to develop further its pathology services drawing on the European expertise of Synlab UK combined with the established cancer expertise at The Christie. The joint venture profit share in 2019-20 is £0.3m, as per the terms of the LLP membership agreement. Subsidiary companies On 11 th December 2017, The Christie Pharmacy Limited (Company Number: 11027496) was formed, to provide pharmacy dispensing services to the Trust. The company is a wholly owned subsidiary of the Trust and its financial performance is included in the consolidated group accounts. For 2019-20 the principal impact for the group has been a financial surplus of £0.5m, which is in line with the Trust’s expectation. Charitable funding We are fortunate to be supported in our activities by The Christie charity. These funds are administered by a separate charity for which the Board of Directors acts as corporate trustees. The charity is considered a subsidiary and therefore there is a requirement to consolidate its accounts with that of the Foundation Trust. The charity accounts will also continue to be reported in its separate annual report. Over the past 12 months, we spent £0.9m on capital projects from charitable grants and we received a charitable revenue contribution of £6.5m to enable us to enhance our services. Value of our buildings and land All property, plant and equipment are measured initially by cost. Our land and building assets are subsequently measured at fair value in line with our accounting policies. As part of this, the Trust’s land value is based on an alternative site methodology. To ensure an independent and fair

England must be greater than its income from the provision of goods and services for any other purposes; The Christie NHS Foundation Trust has met this requirement. Any surplus derived from the limited diversification of income has helped support the Trust in delivering high quality healthcare services for our patients. Value for money and improved efficiency Our total operating expenses for the Trust, excluding depreciation, amortisation and impairment, increased during the year to £317.9m. Of this, £148.3m was spent on staffing, ensuring we continued to attract and retain over 253 doctors, 697 nurses, 588 scientific, technical and therapeutic staff and 315 health care assistants and support staff. Over 28% of our total operating expenses were spent on chemotherapy and other cancer treatment drugs and has helped ensure our patients continue to have access to the latest and most effective treatments. The surplus was achieved by delivering £6.5m of efficiency savings. These have been achieved through a combination of quality led service change, improved productivity, procurement and a reduction in wastage. Joint ventures The Christie Clinic LLP was formed on 15 th September 2010 and is a joint venture partnership with HCA (HCA International Limited) for the provision of private oncology activity. In 2017-18 the LLP was renamed The Christie Private Clinic LLP. The joint venture profit share in 2019-20 is £5.4m, as per the terms of the LLP membership agreement. In June 2014 we entered into a joint venture partnership with Synlab UK, the UK division of one of the largest European independent providers of pathology services. The Christie

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