AH ANNUAL REPORT 2018

Exchange gains or losses on monetary items (arising on
settlement of the transaction or on re-translation at the
Statement of Financial Position date) are recognised in
income or expense in the period in which they arise.
1.20 Third Party Assets
Assets belonging to third parties (such as money
held on behalf of patients) are not recognised in the
accounts since the trust has no beneficial interest in
them. The Trust has no third party assets at 31 March
2018.
1.21 Losses and Special Payments
Losses and special payments are items that Parliament
would not have contemplated when it agreed funds
for the health service or passed legislation. By their
nature they are items that ideally should not arise. They
are therefore subject to special control procedures
compared with the generality of payments. They are
divided into different categories, which govern the
way that individual cases are handled. Losses and
special payments are charged to the relevant functional
headings in expenditure on an accruals basis, including
losses which would have been made good through
insurance cover had the trust not been bearing their
own risks (with insurance premiums then being
included as normal revenue expenditure).
However the losses and special payments note is
compiled directly from the losses and compensations
ledger which reports on an accrual basis with the
exception of provisions for future losses.
1.22 Charitable Funds
Alder Hey Children’s Charity is governed by
independent Trustees and has independent processes.
The trust does not have power to govern the financial
and operating policies of the charitable fund and
therefore the charity is not consolidated.
1.23 Early Adoption of Standards,
Amendments and Interpretations
No new accounting standards or revisions to existing
standards have been early adopted in 2017/18.
1.24 Standards, Amendments and
Interpretations in Issue but Not Yet
Effective or Adopted
IFRS 9 Financial
Instruments
IFRS 15 Revenue
from Contracts
with Customers
IFRS 16 Leases
IFRS 17
Insurance
Contracts
IFRIC 22 Foreign
Currency
Transactions
and Advance
Consideration
IFRIC 23
Uncertainty over
Income Tax
Treatments
Application required for
accounting periods beginning
on or after 1 January 2018, but
not yet adopted by the FReM;
early adoption is not therefore
permitted.
Application required for
accounting periods beginning
on or after 1 January 2018, but
not yet adopted by the FReM;
early adoption is not therefore
permitted.
Application required for
accounting periods beginning
on or after 1 January 2019, but
not yet adopted by the FReM;
early adoption is not therefore
permitted.
Application required for
accounting periods beginning
on or after 1 January 2021, but
not yet adopted by the FReM;
early adoption is not therefore
permitted.
Application required for
accounting periods beginning on
or after 1 January 2018.
Application required for
accounting periods beginning on
or after 1 January 2019.
2. OPERATING SEGMENTS
The Trust has considered segmental reporting and
the Chief Executive and the Board receive sufficient
and appropriate high level information to enable the
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