Section 17
17.1 Related party transactions
Lincolnshire Partnership NHS Foundation Trust is a public benefit corporation which was established under granting of authority by Monitor. Foundation Trusts are now regulated by NHS England who have licenced the Trust to operate as a Foundation Trust.
Details of personal compensation, where applicable, for key management personnel can be seen in the Remuneration Report accompanying these Financial Statements.
During the year the Trust had several material transactions with the Department of Health and Social Care or with other entities for which the Department is regarded as the ultimate parent and controlling party.
The Trust has opted to apply the exemption under paragraph 25 of IAS 24 in respect of disclosure requirements for Government-related entities. The following list details the main public entities that the Trust has had material transactions with (over £10 million) during the year ranked by amount (highest first):
- NHS Lincolnshire ICB – income in respect of Commissioner requested services;
- Lincolnshire County Council - income in respect of Commissioner requested services;
- NHS England – income in respect of Commissioner requested services;
- NHS Pension Scheme – expenditure in relation to employer pension contributions; and
- H M Revenue and Customs – taxation.
| Value of transactions with other related parties in 2023/24 | Revenue £000 | Expenditure £000 |
| Other bodies or persons outside of the whole of government accounting boundary | 1 | 531 |
| Total value of transactions with related parties | 1 | 531 |
| Value of transactions with other related parties in 2022/23 | ||
| Other bodies or persons outside of the whole of government accounting boundary | 73 | 580 |
| Total value of transactions with related parties | 73 | 580 |
17.2 Related party balances
| Value of balances with other related parties at 31 March 2024: | Receivables £000 | Payables £000 |
| Other bodies or persons outside of the whole of government accounting boundary | - | 15 |
| Total balances with related parties at 31 March 2024 | - | 15 |
| Value of balances with other related parties at 31 March 2023: | ||
| Other bodies or persons outside of the whole of government accounting boundary | 6 | 44 |
| Total balances with related parties at 31 March 2023 | 6 | 44 |
Charitable Trust funds are held and managed by Lincolnshire Community Healthcare Services NHS Trust. Audited accounts of the funds held on Trust can be obtained on request from October 2024, where they will also be published on the Charity Commission website.
In respect of these funds, draft figures relating to relating to Lincolnshire Partnership NHS Foundation Trust have been received. Expenditure of £7,000 (2022/23: £2,000) has been incurred and income received into the funds of £6,000 (2022/23: £3,000). The fund balance at 31st March 2024 was £69,000 (2022/23: £70,000).
