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16. Donations of Property, Plant and approach assumes that the asset would be replaced
Equipment with a modern equivalent, not a building of identical
design, with the same service potential as the existing
The Trust has purchased medical equipment, asset. The modern equivalent may be smaller than
distraction equipment and incurred cost on the the existing asset for example, due to technological
research and education phase 2, funded by charity advances in plant and machinery.
donations.
The ultimate objective of the valuation is to place
17. Revaluations of Property, Plant and a value upon the asset, and in this the value of the
Equipment land in providing a modern equivalent facility must
be considered. The modern equivalent asset may be
located on a new site out of town, or be on a smaller
All Land and Buildings assets were revalued as at 31st
site due to changes in the way services are provided.
March 2018.
The site is valued based on the size of the modern
• the valuation was carried out by an independent equivalent, and not the actual site area occupied
valuer, Cushman & Wakefield. currently.
• the basis for the valuation is to use the Depreciated
Replacement Cost (DRC) approach. The DRC

18. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES

2017/18 2016/17
£000 £000

Carrying Value at 1 April - Brought Forward - -

Acquisitions in Year 450 -

Carrying Value at 31 March 450 -

The Trust has entered into a joint venture (50% share) with Alder Hey Children’s Charity for development of patient
experience.

19. INVENTORIES
31 March 31 March
2018 2017
£000 £000

Drugs 930 733

Work in Progress - -
Consumables 1,703 1,712
Energy 60 66

Other - -
Total Inventories 2,693 2,511

Of Which:
Held at Fair Value Less Costs to Sell - -

Inventories recognised in expenses for the year were £31,286K (2016/17: £27,485K). Write-down of inventories
recognised as expenses for the year were £0K (2016/17: £4K).

Alder Hey Children’s NHS Foundation Trust 183 Annual Report & Accounts 2017/18