South West London CCG Annual Report and Accounts 2020/21

8. Net gain/(loss) on transfer by absorption NHS Croydon CCG, NHS Kingston CCG, NHS Merton CCG, NHS Richmond CCG, NHS Sutton CCG and NHS Wandsworth CCG merged from 1st April 2020 to form NHS South West London CCG Transfers as part of a reorganisation fall to be accounted for by use of absorption accounting in line with the Government Financial Reporting Manual, issued by HM Treasury. The Government Financial Reporting Manual does not require retrospective adoption, so prior year transactions have not been restated. Absorption accounting requires that entities account for their transactions in the period in Total NHS Croydon CCG 1st April 2020 1st April 2020 £'000 £'000 Transfer of property plant and equipment 1,232 131 Transfer of intangibles 141 0 Transfer of inventories 0 0 Transfer of cash and cash equivalents 687 109 Transfer of receivables 31,788 4,916 Transfer of payables (174,997) (37,655) Transfer of provisions (1,774) 0 Net Gain (Loss) on Transfer by Absorption (142,923) (32,499) 194 | NHS South West London Clinical Commissioning Group