The Christie Foundation Trust Annual Report and Accounts 2021-22

Our financial performance

Performance for the financial year ended 31 st March 2022

Group 2020 21 actual

Trust 2020 21 actual

Year on Year change

Year on Year change

2021 22 actual

2021 22 actual

£m

£m

£m

£m

£m

£m

Total income

403.1

364.9

38.2

411.6

365.9

45.7

Total operating expenditure (excluding depreciation and net impairments) EBITDA* Gain on revaluation and disposal of investment assets (Loss) on disposal of assets Depreciation and amortisation

(368.4) (333.4) (35.0) (370.3) (333.8) (36.5)

33.7

31.5

41.3

32.1

3.2

9.2 0.0

0.0

0.1 0.0

(0.1) (0.1) (0.3) (0.6)

0.0

0.0 0.0

(0.1)

(0.1)

(0.1) (0.3) (0.6)

(16.9)

(16.6)

(16.9)

(16.6)

Dividend

(7.9) (1.2) (0.1)

(7.3) (1.5)

(7.9) (1.2) (0.1)

(7.3) (1.5)

Net finance charge Corporate tax expense

0.3

0.3

0.0 4.5

(0.1)

0.0 4.5

(0.1)

Share of Joint Venture (equity method)

4.9

0.4 2.6 1.3

4.9

0.4 8.7 1.3

Retained surplus

13.3

10.7

19.9

11.2

(before exceptional items) Gains from transfer by absorption

1.3 7.9

0.0

1.3 9.2

0.0

Exceptional items** Retained surplus

(9.7)

17.6 21.6

(9.7)

18.9 29.0

22.6

1.0

30.5

1.5

* EBITDA is earnings before interest, tax, depreciation and amortisation **Exceptional items represent building asset impairment and reversal of impairments

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 £368.4m. Of this £170.3m was spent on staffing, ensuring we continued to attract and retain over 3,200 staff. Over £101.5m 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 results represent the previously described impact of the pandemic on levels of activity and overall cost across all areas of the organisation. Activity and income As part of the COVID-19 pandemic response, transaction flows in 2020/21 were simplified in the NHS and providers and their commissioners moved to a financial framework built predominantly on block contracts and system partnership arrangements. These arrangements continued in 2021/22. Provision of goods and services Section 43(2A) of the NHS Act 2006 requires that the income from the provision of goods and services for the purposes of the health service in England must be greater than its income from the provision of goods and services for any other

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