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1.24 Standards, Amendments and
Exchange gains or losses on monetary items (arising on
settlement of the transaction or on re-translation at the Interpretations in Issue but Not Yet
Statement of Financial Position date) are recognised in Effective or Adopted
income or expense in the period in which they arise.
1.20 Third Party Assets IFRS 9 Financial Application required for
Instruments accounting periods beginning
Assets belonging to third parties (such as money on or after 1 January 2018, but
held on behalf of patients) are not recognised in the not yet adopted by the FReM;
accounts since the trust has no beneficial interest in early adoption is not therefore
them. The Trust has no third party assets at 31 March permitted.
2018.
IFRS 15 Revenue Application required for
1.21 Losses and Special Payments from Contracts accounting periods beginning
on or after 1 January 2018, but
with Customers
not yet adopted by the FReM;
Losses and special payments are items that Parliament
early adoption is not therefore
would not have contemplated when it agreed funds permitted.
for the health service or passed legislation. By their
nature they are items that ideally should not arise. They IFRS 16 Leases Application required for
are therefore subject to special control procedures accounting periods beginning
compared with the generality of payments. They are on or after 1 January 2019, but
divided into different categories, which govern the not yet adopted by the FReM;
way that individual cases are handled. Losses and early adoption is not therefore
permitted.
special payments are charged to the relevant functional
headings in expenditure on an accruals basis, including
IFRS 17 Application required for
losses which would have been made good through
Insurance accounting periods beginning
insurance cover had the trust not been bearing their Contracts on or after 1 January 2021, but
own risks (with insurance premiums then being not yet adopted by the FReM;
included as normal revenue expenditure). early adoption is not therefore
permitted.
However the losses and special payments note is
IFRIC 22 Foreign Application required for
compiled directly from the losses and compensations Currency accounting periods beginning on
ledger which reports on an accrual basis with the
Transactions or after 1 January 2018.
exception of provisions for future losses. and Advance
Consideration
1.22 Charitable Funds
IFRIC 23 Application required for
Alder Hey Children’s Charity is governed by Uncertainty over accounting periods beginning on
independent Trustees and has independent processes. Income Tax or after 1 January 2019.
The trust does not have power to govern the financial Treatments
and operating policies of the charitable fund and
therefore the charity is not consolidated.
1.23 Early Adoption of Standards, 2. OPERATING SEGMENTS
Amendments and Interpretations The Trust has considered segmental reporting and
the Chief Executive and the Board receive sufficient
No new accounting standards or revisions to existing and appropriate high level information to enable the
standards have been early adopted in 2017/18. business to be managed effectively and to monitor
and manage the strategic aims of the trust. Sufficiently
detailed information is used by middle and lower
management to ensure effective management at
an operational level. Neither of these are sufficiently
discrete to profile operating segments, as defined
by IFRS8, that would enable a user of these financial
statements to evaluate the nature and financial effects
of the business activities that the Trust undertakes.
Therefore the trust has decided that it has one
operating segment for healthcare.
Alder Hey Children’s NHS Foundation Trust 170 Annual Report & Accounts 2017/18
