Section 10
10.1 Trade and other receivables
| Amounts falling due within one year | 31 March 2024 £000 | 31 March 2023 £000 |
| Current | 3,202 | 2,604 |
| Contract receivables invoiced | 811 | 5,907 |
| Contract receivables not yet invoiced / non-invoiced1 | (1) | (1) |
| Allowance for impaired other receivables | 1,181 | 988 |
| Prepayments | 54 | 54 |
| Finance lease receivables | 559 | 464 |
| VAT receivable | 7 | 3 |
| Clinician pension tax provision reimbursement funding from NHSE2 | - | 7 |
| Other receivables | - | 7 |
| Total current trade and other receivables | 5,813 | 10,026 |
| Of which | ||
| Receivables from NHS and Department of Health and Social Care group bodies: | 971 | 5,741 |
| Receivables from other bodies: | 4,842 | 4,285 |
| Non-current | ||
| Prepayments | 69 | 28 |
| Finance lease receivables | 216 | 266 |
| Clinician pension tax provision reimbursement funding from NHSE2 | 161 | 232 |
| Total non-current trade and other receivables | 446 | 526 |
|
Of which |
||
| Receivables from NHS and Department of Health and Social Care group bodies: | 377 | 498 |
| Receivables from other bodies: | 69 | 28 |
1 Contract receivables have decreased due to the inclusion of £4,810,000 of central funding from NHS England for the Agenda for Change pay offer relating to 2022/23 pay in the 2022/23 comparative.
2 The Trust has accounted for a receivable of £168,005 (2022/23: £234,592) due from NHS England in respect of clinician’s pension tax. This is based on actual information provided by NHS England regarding the actual uptake of the scheme. Clinicians that have exceeded their annual pension allowance because of work undertaken during the year are able to have any related tax charge paid by NHS Pension Scheme if they have opted to. The Trust is contractually bound to pay this corresponding amount to the clinician on their retirement to ensure that they are fully compensated for any deduction from their income from NHS Pension Scheme on retirement. NHS England and the Government are committed to fund any payments to clinicians as and when they arise, this is shown in non-current receivables above. A corresponding provision relating to the Trust’s payment to clinicians is included in the provisions note of these accounts.
10.2 Allowances for credit losses
| 31 March 2024 | 31 March 2023 | |||
| Contract receivables and contract assets £000 | All other receivables £000 | Contract receivables and contract assets £000 | All other receivables £000 | |
| Allowances as at 1 April - brought forward | - | 1 | 7 | - |
| Changes in the calculation of existing allowances | - | - | (7) | 1 |
| Allowances as at 31 March | - | 1 | - | 1 |
Following the implementation of IFRS 9, the Trust is required to provide for expected credit losses. The Trust uses a five-step provision matrix to calculate this. This involves grouping receivables of similar risk profiles and calculating the expected credit losses based on historical loss rates for these risk profiles.
Any forward-looking macro-economic factors are also considered when calculating these losses. These are calculated on a quarterly basis.
The current credit loss allowance at the year-end is £492 (2022/23: £708). There are no macro-economic factors affecting these calculations.
10.3 Finance lease receivables
This note discloses future lease payments receivable from lease arrangements classified as finance leases where the Trust is the lessor.
| 2023/24 £000 | 2022/23 £000 | |
| Finance lease receivables at 1 April | 320 | - |
| IFRS 16 implementation - adjustments for existing subleases | - | 336 |
| Interest arising (unwinding of discount) | 16 | 20 |
| Lease receipts (cash payments received) | (65) | (36) |
| Finance lease receivables at 31 March | 271 | 320 |
Finance leases are in respect of the sub-leasing of car parking facilities at The Point, Sleaford to the Lincolnshire Integrated Care Board (formerly Lincolnshire Clinical Commissioning Group) and Lincolnshire Community Health Services. The Trust also subleases Welton House in Lincoln to Lincolnshire Integrated Care Board.
10.4 Finance lease receivables maturity analysis
| Total 31 March 2024 £000 | Of which leased to DHSC group bodies: 31 March 2024 £000 | Total 31 March 2023 £000 | Of which leased to DHSC group bodies: 31 March 2023 £000 | |
| Undiscounted future lease receipts receivable in: | ||||
| Not later than one year | 61 | 61 | 73 | 73 |
| Later than one year and not later than two years | 34 | 34 | 53 | 53 |
| Later than two years and not later than three years | 34 | 34 | 34 | 34 |
| Later than three years and not later than four years | 34 | 34 | 34 | 34 |
| Later than four years and not later than five years | 34 | 34 | 34 | 34 |
| Later than five years. | 88 | 88 | 122 | 122 |
| Total future finance lease payments to be received | 285 | 285 | 350 | 350 |
| Unearned interest income | (14) | (14) | (30) | (30) |
| Net investment in lease (net lease receivable) | 271 | 271 | 320 | 320 |
| Of which | ||||
| Leased to other NHS providers | 7 | 20 | ||
| Leased to other DHSC group bodies | 264 | 300 |
