Item 8 - Sheffield Health and Social Care

20.4 Financial assets by category31 March2013£00031 March2012£000Other financial liabilitiesNHS payables 533 135Other payables with related parties 1,161 1,250Trade payables – capital 212 52Other trade payables 931 778Accruals 3,439 2,691Provisions under contract - 60Total at 31 March 5,776 4,96625. Related party transactionsSheffield Health and Social Care NHS Foundation Trust is a body corporate established by order of theSecretary of State for Health.During the year the Trust has had transactions with a number of organisations with which key employees/directors of the Trust have some form of relationship. These are detailed below:Paymentsto RelatedParty£000Receiptsto RelatedParty£000Amountsowed toRelatedParty£000Amountsdue fromRelatedParty£000Sheffield Teaching Hospitals NHS FT 1,564 3,247 166 459University of Sheffield 528 152 83 14Royal College of Psychiatrists 23 97 - -Turning point 36 5 - 420.5 Fair valuesThe fair value of the Trust’s financial assets and financial liabilities at 31 March 2013 equates to thebook value.21. Third party assetsThe Trust held cash of £4,342,736 at bank and in hand at 31 March 2013 (31 March 2012 – £3,960,418)which relates to monies held by the Trust on behalf of patients. This has been excluded from the cash atbank and in hand amount reported in the accounts.22. Losses and special paymentsThere were 97 cases (the year ended 31 March 2012 – 72 cases) of losses and special payments totalling£50,417 (the year ended 31 March 2012 – £216,000) approved during the year ended 31 March 2013.23. Events after the reporting periodThe Trust expects to take on £583,330 worth of assets, mostly buildings and IT equipment, from NHSSheffield on the closure of the Primary Care Trust. These assets will transfer on the 1st April 2013 and relateto the transfer of Highgate Clinic and Albert Terrace Road.24. Capital commitmentsContracted capital commitments at 31 March not otherwise included in these financial statements are:31 March2013£00031 March2012£000Property, plant and equipment* 477 34*These relate to the Trust’s Intensive Support Service development and capital developments at the Longley CentreThe relationships are:• The wife of one of the Trust’s non executivedirectors is a non executive director at SheffieldTeaching Hospitals NHS Foundation Trust• The Executive Medical Director isDeputy Director of the Royal College ofPsychiatrists.• The Chair is Professor of Social Policy at theUniversity of Sheffield.• One of the non executive directors receives apension from Turning Point.• One of the non executive directors serves as acouncillor at Sheffield City Council.The Trust is required, under International AccountingStandard 24 ‘Related Party Disclosures’, to discloseany related party transactions. The objective of IASIncome£00024 is to draw attention to the possibility that thereported financial position and results may havebeen affected by the existence of related partiesand by material transactions with them. In the casesabove, all payments shown have been made by theTrust to the organisations concerned and not to theindividual officers.Amounts owed to related parties are unsecured,interest-free and have no fixed terms of repayment.The balances will be settled in cash. No guaranteeshave been given or received. No provisions fordoubtful debts have been raised against amountsoutstanding and no expense has been recognisedduring the period in respect of bad or doubtfuldebts due from related parties.The value of the Trust’s transactions with relatedparties during the year is given below:2012/13 2011/12Expenditure£000Income£000Expenditure£000Department of Health 123 - 106 -Other NHS bodies 105,010 3,664 97,252 3,227Charitable funds - - - -Other bodies (including WGA) 12,028 16,662 12,452 17,682117,161 20,326 109,810 20,909*2011/12 figures include minor reclassification for comparable data187188