Page 51 - Pharmacy Appeals 1/4/04 to 31/3/05

NHS Resolution Annual report and accounts 2021/22 27

Going concern

The Board has reviewed the financial position of the
organisation and discussed future funding arrangements
with DHSC, given that NHS Resolution reports
significant net liabilities. The indemnity schemes that
NHS Resolution operates are funded on a pay-as-you-
go basis. Members and funders of schemes contribute
sufficient funds to meet the liabilities required on a
yearly basis rather than holding reserves for future
settlements. There is a reasonable expectation that
the Government, via DHSC and the NHS, will continue
to fund future liabilities, and therefore the Board is
assured that it will be able to meet all liabilities falling
due during the going concern assessment period.
Therefore, the Board has concluded that it is appropriate
to apply the going concern basis of accounting to
the financial statements of 31 March 2022.