The Christie NHS FT Annual Report & Accounts 2019-20

Our financial performance

Cash flow and balance sheet We ended the year with cash and investments balance of £145.9m (£207.4m for the group). This is an increase on the previous year and reflects the balances generated through operational performance. Public sector payment policy – better payments practice code In accordance with the Better Payments Practice Code and government accounting rules, the Trust’s payment policy is to pay creditors within 30 days of the receipt of the goods or a valid invoice, whichever is the later, unless other terms have been agreed. The Trust paid 96% of non NHS trade invoices by value within 30 days. Trading environment and financial risks Whilst we have continued to maintain a healthy financial position during 2019-20, there have continued to be significant changes in the external economic and political environment which will impact on our operational and strategic plans for the future. Our financial strategy for 2020-21 is to continue to focus on delivering productivity and efficiency improvements and to reduce costs. Being a financially sustainable organisation is critical to support the delivery of safe services and deliver the investment required to fulfil our ambitious capital and programme. The Covid-19 pandemic has had, and continues to have a significant impact on the UK and worldwide. It will impact on all of the Trust group operations and investments in 2020-21, however the extent and impact will vary across the group and investments and cannot yet be determined. Going concern After making enquiries, the directors have a reasonable expectation that the Trust has adequate resources to continue in operation for

value of our estate we engage with the District Valuer, who reviews our asset values. Together with a decrease in building value indices, there was a net revaluation upwards of our assets of £3.8m in 2019-20. Capital investment The Trust has continued to invest in its estate and equipment assets with another comprehensive capital investment programme for 2019-20. The development of an ambitious integrated research facility on the site of the fire damaged Paterson research building is progressing at pace. The Trust is working in partnership with the University of Manchester and Cancer Research UK to ensure Manchester remains at the forefront of research to support better outcomes for patients. Demolition of the previous site is underway, and plans are being finalised for the new development, which will be completed in 2022-23. The Trust has continued to invest in information technology and the estate maintenance programme that ensures our infrastructure continues to support effective patient care.

Investment

NHS Funded £m

Donate £m

Total £m

Land and Buildings

1.2

0.9

2.1

Assets under Construction Plant and Machinery Information Technology

15.8

0

15.8

0.9

0

0.9

1.4

0

1.4

Total

19.3

0.9

20.2

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