2023-03-31-accounts - Pembrokeshire Association Of Voluntary Services

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

TRUSTEES	C Carter
	HD Murray
	BAPriest
	SWhitbread
	C Crichton
	A ESangster
	CFIncledon (appointed 26.5.22)
	JDM Tucker (appointed 26.5.22)
COMPANY SECRETARY	SJLeonard
REGISTERED OFFICE	36-38High Street
	Haverfordwest
	Pembrokeshire
	SA61 2DA
REGISTERED COMPANY	03343059(England	and Wales)
NUMBER
REGISTERED CHARITY	1063289
NUMBER
AUDITORS	Clay Shaw Butler Limited
	Statutory Auditors	and Chartered	Accountants
	24 Lammas Street
	Carm arnhem
	Carmarthenshire
	SA31 3AL
	Unity Bank
	Unity Trust Bank pic
	Four Brindleyplace
	Brimingham
	Bl 2JB
SOLICITORS	Hains &Lewis
	Penffynnon
	Hawthorn Rise
	Haverfordwest
	Pembrokeshire SA612'

					31.3.23	31.3.22
			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
		Notes		f,
INCOME AND ENDOWMENTS FROM
Donations and legacies			700	791	1,491	32
Charitable activities
Third Sector Support			227,585	97,267	324,852	451,016
Connected Communities				498,680	498,680	314,783
Policy Sr Engagement				364,811	364,811	243,285
Grants for Distribution				936,074	936,074	895,324
Other trading activities		3	40,106	5,645	45,751	43,884
Investment income		4	2,262		2,262
Total			~270 653	1,903,268	2,173,921	~1,948324
EXPENDITURE ON
Raising funds		6	(505)		(505)
Charitable activities
Third Sector Support			193,598	104,506	298,104	305,685
Connected Communities			88,728	523,624	612,352	272,775
Policy k Engagement			81,030	391,240	472,270	243,072
Grants for Distribution				1,255,924	1455,924	782,361
Other			~68000		68000	67,000
Total			~430851	~2275 294	~2706 145	~1670893
NET INCOME/(EXPENDITURE)			(160,198)	(372,026)	(532,224)	277,431
Transfers between funds		19	128,809	(128,809)
Other recognised gains/Uosses)
Actuarial gains on defined benefit schemes			~1351,000		~1351000	268 000
Net movement in funds			1,319,611	(500,835)	818,776	545,431
RECONCILIATION	OF FUNDS
Total funds brought forward			(524,531)	1,078,742	554,211	8,780
TOTAL FUNDS CARRIED FORWARD			795,080	~577 907	~1372987	~554 211

				31.3.23	31.3.22
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	I
FIXEDASSETS
Tangible assets	14	710	2,174	2,884	15,718
CURRENT ASSETS
Stocks	15	73		73	7
Debtors	16	16,779	453,942	470,721	471,670
Cash at bank and in hand		440,270	361,051	801,321	~1160365
		457,122	814,993	1,272, 1 15	1,632,042
CREDITORS
Amounts falling due within one year	17	(48,752)	(239,260)	(288,012)	(196,549)
NET CURRENT ASSETS		~408 370	575 733	~984 103	143S493
TOTAL ASSETSLESSCURRENT
LIABILITIES		409,080	577,907	986,987	1,451,211
PENSION ASSET/(LIABILITY)	20	386,000		386,000	(897,000)
NET ASSETS		~795080	~577 907	~1372987	554,211
FUNDS	19
Unrestricted funds				795,080	(524,531)
Restricted funds				577907	1 078 742
TOTAL FUNDS				~1372987	~554 211

RECONCILIATION OF	NET (EXPENDITURE)/INCOME	NET (EXPENDITURE)/INCOME	TONET CASH	FLOW FROM
OPERATING ACTIVITIES
				31.3.23	31.3.22
Net (expenditure)/income	for the reporting	period (asper the
Statement ofFinancial Activities)				(532,224)	277,431
Adjustments for:
Depreciation charges				12,834	12,834
Interest received				(2,262)
(increase)/decrease in stocks				(66)	380
Decrease in debtors				949	206,854
Increase/(decrease) in creditors Difference between pension charge and cash		contributions		91,463 68 000	(57,417) ~67 000
Net cash (used in)/provided	by operations			361306	507,082
ANALYSIS OF CHANGES IN NET FUNDS
			At 1.4.22	Cash flow	At 31.3.23
Net cash
Cash at bank and in hand			1,160,365	359,044	801,321
			1,160,365	359,044	801,321
Total			~1160365	~339,944	891,321

NEST independently managed scheme. Contributions p Statement ofFinancial Activities in the period to which they	NEST independently managed scheme. Contributions p Statement ofFinancial Activities in the period to which they	ayable to the NEST scheme are relate.	charged to t
DONATIONS AND LEGACIES
		31.3.23	31.3.22
Donations		~1491	32
OTHER TRADING ACTIVITIES
		31.3.23	31.3.22
			I
Membership	income	3,480	3,955
Service contracts and training		9,640	18,225
Premises room hire		21,503	18,985
Salary related	payments	5,483	2,719
County show	income	5,645
		45,751	43,884

INVKSTMKNT INCOME	INVKSTMKNT INCOME
					31.3.23	31.3.22
Deposit account interest					2,262
INCOME FROM CHARITABLE ACTIVITIES
					31.3.23	31.3.22
			Activity
Grants			Third Sector Support		201,526	366,844
SLA income			Third Sector Support		80,192	84,172
Carers online platform			Third Sector Support		43,134
Grants			Connected	Conununities	172,909	148,799
SLA income			Connected	Conununities	325,771	165,984
Grants			Policy &Engagement		174,513	31,479
SLA income			Policy &Engagement		190,298	211,806
Grants			Grants for Distribution			4,418
Grants for distribution			Grants for Distribution		936,074	890,906
					2,124,417	~1904 408
Grants received, included	in the above, are			as follows:
					31.3.23	31.3.22
						8
Core support (PCC)					16,244	16,245
Core Support (WCVA)					194,046	169,854
Catalysts for Care (LEADER)						25,676
Community Connectors	(PCC)				63,000	63,000
Various funders					150
Community Connectors	Digital		Equipment	(WWCP/PCC)		8,500
Volunteering Awards (South		Hook LNG)			2,350	2,653
Winter Pressures (WCVA)						29,500
Community Volunteering	Development Officer Funding (WG)					11,500
Social Care Worker Scheme (WG)						6,256
Connect Platform (PCC)						11,729
North Cluster Dementia	Support (HDUHB)					2,500
Above and Beyond Awards (WWCP/PCC)						6,000
UK Community Renewal	Fund		(UK Government)		(23,909)	166,062
Enhancing Pembrokeshire	Grant (PCC)				19,759	32,065
National Lottery Community		Fund			32,163
Keep Warm Keep Well (PCC)					167,350
Community Hubs/Spokes	(PCC)				58,000
Ukraine Community Events (PCC)					5,000
Kickstart Scheme (PCC)					7,196
RCP training grant (SCW)					3,599
Dementia Supportive Communities (PCC)					2,000
Together 4Change Evaluation			(HDUHB)		2,000
					548,948	551,540

Grants/funds for distribution:
		2023	2022
		g
PIVOT Service (WGRIF)		326,392	194,180
PIVOT Care &Repair Adaptations (WG DCP capital)		19,396
PIVOT Home From Hospital (HDUBB)		20,000	20,000
GwirVol Youth Led Grants (WCVA)		6,650	6,650
LD Innovation Fund (WG RIF)		50,000
Loneliness and Social Isolation Grant (WG/PCC)		22,727	22,727
Hubberston &Hakin Invest Local (National Lottery/BCT)		144,884
SCAF Grant Funding (WG RIF)		25,000
Keep Warm Keep Well Grant Funding (PCC)		150,000
Food Po arty Grant Funding (PCC)		5,973
Ukraine Community Support Grant (PCC)		10,000
Living Well and Community Spaces (PCC)		80,000
Small Grants for Carer Support Groups (PCC)		17,500	15,750
Outdoor Connections Capital Grant (WG DCP capital)		57,552	40,000
Community Fund (Bluestone Foundation)			1,216
Regional Carers Support Innovation Fund (WWCP/PCC)			77,868
Caring Communities Innovation Grants (ICF)			25,000
Regional LD Innovation Fund (WWCP/PCC)			100,000
Winter Pressure Grant Funding (WCVA)			34,000
UK Community Renewal Fund (UK Government)			341,315
Saundersfoot Participatory Budget (WG/Community	Council/Spar)		12229
		926 974	890,906

					31.3.23	31.3.22
					6	6
	Bad debts				~505
7.	CHARITABLE ACTIVITIES COSTS
				Grant
				funding of
				activities	Support
			Direct	(see note	costs (see
			Costs	8)	note 9) I	Totals 6
	Third Sector Support		208,488	21,367	68,249	298,104
	Connected	Communities	490,527	22,089	99,736	612,352
	Policy &Engagement Grants for Distribution		270,441 ~59 881	140,350 1 196,043	61,479	472,270 ~1255924
			~1029337	~1379849	~229 464	2,638,650
8.	GRANTS	PAYABLE
					31.3.23	31.3.22
	Third Sector Support				21,367	40,688
	Connected	Communities			22,089
	Policy &Engagement				140,350
	Grants for	Distribution			1,196,043	692,905
					1,379,849	~733 593

SUPPORT COSTS
		Governance
	Management f	costs	Totals
Third Sector Support	58,705	9,544	68,249
Connected Communities	84,043	15,693	99,736
Policy dt Engagement	51,937	9,542	61,479
	194,685	~34 779	~229 464

		31.3.23	31.322
Auditors'	remuneration	9,600	9,601
Depreciation - owned assets		12,834	12,834

		31.3.23	31.3.22
Wages	and salaries	674,158	526,185
Social	security costs	64,913	46,882
Other	pension costs	~67333	62,904
		806,404	635,971

The average monthly number ofemployees during the	year was as follows:
	31.3.23	31.3.22
Third Sector Support	7	8
Policy &Engagement	5	4
Connected Communities	10	6
Business Services	4	4
	26	22

, 6.3,Policy &Engagement 3.7,Connected Communities 6.0 and Business Services	, 6.3,Policy &Engagement 3.7,Connected Communities 6.0 and Business Services	3.5)
COMPARATIVES FORTHE STATEMENT OFFINANCIAL ACTIVITIES
	Unrestricted	Restricted	Total
	funds	funds	funds
			f,
INCOME AND ENDOWMENTS FROM
Donations and legacies	27		32
Charitable activities
Third Sector Support	214,515	236,501	451,016
Connected Communities		314,783	314,783
Policy &Engagement		243,285	243,285
Grants for Distribution		895,324	895,324
Other trading activities	43 884		~43 884
Total	258,426	1,689,898	1,948,324
EXPENDITURE ON
Charitable activities
Third Sector Support	170,783	134,902	305,685
Connected Communities	45,249	227,526	272,775
Policy &Engagement	75,533	167,539	243,072
Grants for Distribution	56,303	726,058	782,361
Core
Other	67,000		67,000
Total	414,868	1,256,025	1,670,893
NET INCOME/(EXPENDITURE)	(156,442)	433,873	277,431
Transfers between funds	102,300	(102,300)
Other recognised gains/(losses)

13.	COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES	COMPARATIVES FOR THE STATEMENT OFFINANCIAL ACTIVITIES	-continued
			Unrestricted	Restricted	Total
			funds	funds	funds
	Actuarial gains on defined benefit schemes		~268 000		~268 000
	Net movement in funds		213,858	331,573	545,431
	RECONCILIATION	OF FUNDS
	Total funds brought forward		(738,393)	747,173	8,780
	TOTAL FUNDS CARRIED FORWARD		~524 555	1678746	554211
14.	TANGIBLE FIXED	ASSETS
			Fixtures
			and	Computer
			fittings	equipment	Totals
				8	8
	COST
	At 1 April 2022 and 31 March 2023		28,074		70,120
	DEPRECIATION
	At 1 April 2022		28,074	26,328	54,402
	Charge for year			12,834	12,834
	At 31March 2023		28,074	39,162	67,236
	NET BOOKVALUE
	At 31March 2023			2,884	2 884
	At 31March 2022			15,718	15,718
15.	STOCKS
				31.3.23	31.3.22
	Stacks			73	7

16.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.3.23	31.3.22
	Trade debtors	4,550	134,735
	Grant debtor	457,375	322,946
	Prepayments	8,796	13,989
		470,721	471,670
17.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.3.23	31.3.22
	Trade creditors	144,544	18,026
	Other creditors	1,315	1,689
	Deferred income	12,566	55,700
	Accrued expenses	129,587	121,134
		288,012	~196 549

Minimum lease payments under non-cancellable operatin	g leases MI due as follows:
	31.3.23	31.3.22
Within one year	35,413	35,413
Between one and tive years	115,587	139,079
In more than five years		11,337
	151,000	185,829

MOVEMENT IN FUN	DS
					Net	Transfers
					movement	between	At
				At 1.4.22	in funds	funds	31.3.23
Unrestricted funds
General fund				349,714	(91,628)	128,809	386,895
Designated fund - Regional		Entity	fund	17,255	(570)		16,685
Designated fund - Children		&Families
fund				5,500			5,500
Defined benefit pension				~897,000	1,283,000		386,000
				(524,531)	1,190,802	128,809	795,080
Restricted funds
Other Project Funds				8,634	(6,647)	18,986	20,973
Catalysts for Care				13,291	(11,967)	12,464	13,788
Community Connectors				42,896	20,696	(18,266)	45,326
Hes'th and Well-being Facilitator				4,360	6,530	(5,544)	5,346
Connect Pembrokeshire				37,409	4,874	(4,874)	37,409
Children &Families Connector				6,485	2,078	(4,872)	3,691
Invest Local Hubberston	&Hakin			84,118	32,934	(27,257)	89,795
Connector+				3,052		(3,052)
Dementia Supportive Communities				35,704	4,872	(4,872)	35,704
PIVOT/preventions				92,874	13,967	(12,681)	94,160
Regional Carers Support	Innovation		Fund	54,418	3,650	(3,650)	54,418
GwirVol Youth Led Grant					310	(310)
Local Action Hubs				1,890		(1,890)
Bluestone Foundation Conununity			Fund	1,216			1,216
Hubberston &Hakin Development			OQicer		(18,902)	18,902
Regional LD Innovation	Fund			140,910	(119,042)	(15,550)	6,318
Carers Online Portal					3,000	(3,000)
Digicoach (Healthier Pembrokeshire)				13,459	(6,786)		6,673
Connect IT				2,461	(1,749)		712
Supporting Community Action Fund				12,437	(70,097)	149,223	91,563
Investors in Carers promotion				6,534	(2,756)		3,778
Community Connectors	- Digital
Connections				18,929	(1,680)		17,249
Volunteering for Pembrokeshire				22,488	(2,240)		20)248
Capital expenditure				13,237	(11,063)		2,174
Employee Volunteering	Development
Oflicer					(2,717)	2,717
Enhancing Pembrokeshire		Grant-
Community Hub				23,996	(39,650)	41,891	26,237
UK Community Renewal	Fund			437,944	(362,236)	(75,708)
Outdoor Connections Fund					6,000	(4,500)	1,500
National Lottery Communty		Fund - Preseli
Cares					3,622	(3,993)	(371)
Keep Warm Keep Well					~182973	~182,973
				1078,742	~372,026	~128,809	577,907
TOTAL FUNDS				554,211	818,776		1~372987

MOVEMENT IN FUN	DS - contin	DS - contin	DS - contin	ued
Net movement in funds,	included in			the above	are as follows:
					Incoming	Resources	Gains and	Movement
					resources	expended	losses	in funds
								8
Unrestricted funds
General fund					270,653	(362,281)		(91,628)
Designated fund - Regional		Entity fund				(570)		(570)
Defined benefit pension						(68,000)	~1351000	1 283 000
					270,653	(430,851)	1,351,000	1,190,802
Restricted funds
Other Project Funds					77,996	(84,643)		(6,647)
Catalysts for Care					65,357	(77,324)		(11,967)
Community Connectors					280,358	(259,662)		20,696
Health and Well-being Facilitator					61,955	(55,425)		6,530
Connect Pembrokeshire					35,799	(30,925)		4,874
Children &Families Connector					38,001	(35,923)		2,078
Invest Local Hubberston	&Hakin				144,884	(111,950)		32,934
Dementia Supportive Communities					46,543	(41,671)		4,872
PIVOT/preventions					365,788	(351,821)		13,967
Regional Carers Support	Innovation			Fund		3,650		3,650
GwirVol Youth Led Grant					6,650	(6,340)		310
Hubberston &Hakin Development			Officer			(18,902)		(18,902)
Regional LD Innovation	Fund				50,000	(169,042)		(119,042)
Carers Online Portal					43,134	(40,134)		3,000
Digicoach (Healthier Pembrokeshire)						(6,786)		(6,786)
Connect IT					71	(1,820)		(1,749)
Supporting Community Action Fund					155,227	(225,324)		(70,097)
Investors in Carers promotion						(2,756)		(2,756)
Community Connectors	-Digital
Connections						(1,680)		(1,680)
Volunteering for Pembrokeshire						(2,240)		(2,240)
Capital expenditure						(11,063)		(11,063)
Employee Volunteering	Development
Officer					8,335	(11,052)		(2,717)
Enhancing Pembrokeshire		Grant-
Community Hub					134,042	(173,692)		(39,650)
UK Community Renewal	Fund				(23,910)	(338,326)		(362,236)
Outdoor Connections Fund					57,552	(51,552)		6,000
National Lottery Communty		Fund -		Preseli
Cares					32,163	(28,541)		3,622
Keep Warm Keep Well					~323 323	~140,350)		182,973
					3,993,269	~2,273,294		(372,026)
TOTAL FUNDS					2,173,921	(2,706,145)	1,351,000	~818 776

MOVEMKNT IN FUNDS - c	MOVEMKNT IN FUNDS - c	ontinued	ontinued
Comparatives for movement		in funds
					Net	Transfers
					movement	between	At
				At 1.4.21	in funds	funds	31.3.22
Unrestricted funds
General fund				335,982	(88,568)	102,300	349,714
Designated fund - Regional Entity			fund	18,125	(870)		17,255
Designated fund - Children &Families
fund				5,500			5,500
Defined benefit pension				(1,098,000)	201,000		~897,000
				(738,393)	111,562	102,300	(524,531)
Restricted funds
Other Project Funds				6,875	1,759		8,634
Catalysts for Care				15,914	1,794	(4,417)	13,291
Community Connectors Health and Well-being Facilitator				8,524 5,906	53,200 3,090	(18,828) (4,636)	42,896 4,360
Connect Pembrokeshire				15,741	24,986	(3,318)	37,409
Children &Families Connector				8,107	4,235	(5,857)	6,485
Invest Local Hubberston	&Hakin			167,454	(64,003)	(19,333)	84,118
Community Volunteering	Development
Officer				1,526	2,460	(3,986)
Connector+				3,066	636	(650)	3,052
Dementia Supportive Communities				8,510	31,551	(4,357)	35,704
PIVOT/preventions				86,337	25,969	(19,432)	92,874
Regional Carers Support	Innovation		Fund	150,284	(71,079)	(24,787)	54,418
GwirVol Youth Led Grant					310	(310)
Local Action Hubs				4,843	(2,828)	(125)	1,890
Bluestone Foundation Community			Fund		1,216		1,216
Hubberston &Hakin Development			Officer		(14,090)	14,090
Regional LD Innovation	Fund			145,000	10,410	(14,500)	140,910
Digicoach (Healthier Pembrokeshire)				10,921	2,538		13,459
Connect IT				5,557	(3,096)		2,461
Supporting Coinmunity Action		Fund		31,120	(16,542)	(2,141)	12,437
Investors in Carers promotion				6,534			6,534
Community Connectors	—Digital
Connections				18,929			18,929
Volunteering for Pembrokeshire				28,248	(5,760)		22,488
Capital expenditure				17,777	(11)063)	6,523	13,237
Employee Volunteering Development
Officer					(1,045)	1,045
Enhancing Pembrokeshire	Grant-
Community Hub					7,492	16,504	23,996
UK Community Renewal Fund Outdoor Connections Fund					458,161 ~6,432)	(20,217) 6,432	437,944
				747,173	433,869	102,300	1,078,742
TOTAL FUNDS				8,780	545,431		554,211

				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
				8	8
Unrestricted funds
General fund				258,425	(346,993)		(88,568)
Designated fund - Regional Defined benefit pension		Entity	fund		(870) ~67,000)	~268 000	(870) 201 000
				258,425	(414,863)	268,000	111,562
Restricted funds
Other Project Funds				14,152	(12,393)		1,759
Catalysts for Care				70,102	(68,308)		1,794
Community Connectors				233,044	(179,844)		53,200
H.,alth and Well-being Facilitator				37,000	(33,910)		3,090
Connect Pembrokeshire				76,274	(51,288)		24,986
Children &Families Connector				36,550	(32,315)		4,235
Invest Local Hubberston	&Hakin			I	(64,004)		(64,003)
Community Volunteering	Development
Officer				25,768	(23,308)		2,460
Connectorr				2,914	(2,278)		636
Dementia Supportive Conununities				67,500	(35,949)		31,551
PIVOT/preventions				214,180	(188,211)		25,969
Regional Carers Support	Innovation		Fund	77,868	(148,947)		(71,079)
GwirVol Youth Led Grant				6,650	(6,340)		310
Local Action Hubs					(2,828)		(2,828)
Bluestone Foundation Community			Fund	1,216			1,216
Hubberston &Hakin Development			Officer		(14,090)		(14,090)
Regional LD Innovation	Fund			100,000	(89,590)		10,410
Carers Online Portal				1,800	(1,800)
Digicoach (Healthier Pembrokeshire)				8,500	(5,962)		2,538
Connect IT				940	(4,036)		(3,096)
Supporting Community Action Fund				97,477	(114,019)		(16,542)
Volunteering for Pembrokeshire					(5,760)		(5,760)
Capital expenditure					(11,063)		(11,063)
Employee Volunteering	Development
Officer				10,001	(11,046)		(1,045)
Enhancing Pembrokeshire		Gmnt-
Community Hub				38,385	(30,893)		7,492
UK Community Renewal	Fund			507,377	(49,216)		458,161
HomeShare UKpilot Fund				10,000	(10,000)
Outdoor Connections Fund Saundersfoot Participatory		budget		40,000 ~12200	(46,432) ~12200		(6,432)
				1,689,899	(1,256 030		~433 869
TOTALFUNDS				~1948324	~3670 893	268000	341 431

RESERVES	2022	Movement	2022
Restricted funds	1,078,742	(500,835)	577,907
General fund	349.714	37,181	386,895
Designated funds (Regional Entity and Children 80Families)	22,755	~5707	22,185
Total reserves before pension deficit	1,451,211	(464,224)	986,987
Defined benefit pension fund	~807 DDD	1,283,D011	386,000
Total reserves	554,211	818,776	1,372,987

fund as a contribution t	o	wards ove	rhe	ad costs:
						I
Catalyst for Care						7,582
Conununity Connectors						18,266
Health and Well-being	Facilitator					5,544
Timebanking						4,874
Children &Families Connector						4,872
Invest Local Hubberston		&Hakin				5,598
Dementia Supportive Communities						4,872
PIVOT/preventions						9,000
GwriVol Youth Led Grant						310
Hubberston &,Hakin Development			Officer			2,757
Regional LD Innovation		Fund				15,550
Supporting Community	Action Fund					19,023
Employee Volunteering		Development		Officer		1,487
Enhancing Pembrokeshire		Grant -	Community		Hub	10,495
UK Community Renewal		Fund				3,276
Outdoor Connections						4,500
National Lottery Community Fund			-	Preseli Cares		3,993
Carers Online Platform						3,000
Other Project Funds						8,014
Total						133013

The main assumptions u	sed in t	he actuarial valuations are	as follows:
				2023		2022
Rate ofCPI inflation				270%		3.30%
Rate ofincrease in salaries				4.20%		4.80%
Rate ofincrease in pensions				2.80%		3.40%
Discount rate				4.80%		2.80%
The major categories of	scheme	assets are as follows:
			2023	2023	2022	2022
Equities			2,489,000	74.4% 2,486,000		72.3%
Government bonds			17,000	0.5% 45,000		1.3%
Other bonds			237,000	7.1% 272,000		7.9%
Property			451,000	13.5% 450,000		13.1%
Cash/liquidity			23,000	0.7% 58,000		1.7%
Other			127,000	3.8% 127,000		3.7%
			3,344,000	3438 000
The movement in deficit	during	the year is as follows:
				2023		2022
Total present value ofbenefit obligations Fair value ofplan assets				2,958,000 4,335,000 ~3,344 DOD ~3438 DOtl
(Surplus)/Deficit				~386,0tlO		897,00tl
The change in benefit obligation		during period the year is	as follows:
				2023 I		2022
Benefit obligation at the	beginning ofthe year			4,335,000	4,327,000
Current service costs				93,000		93,000
Interest on pension liabilities				121,000		89,000
Members contributions				14,000		14,000
Past service costs (gain)
Actuarial (gains)/losses	on liabilities			(1,541,000)	(106,000)
Curtailments
Settlements
Benefits/transfers paid				(64,000)		(82,000)
Business combinations
Benefit obligation at end ofperi		od		2,958,000	4	335 000

EMPLOYEE BENEFI	EMPLOYEE BENEFI	T OBLI	GATIONS - continued
Past service costs (gain)
Actuarial (gains)/losses		on liabilities		(1,541,000)	(106,000)
Curtailments
Settlements
Benefits/transfers paid				(64,000)	(82,000)
Business combinations
Benefit obligation at end ofperiod				2 958 000	4335,tlOtl
The change in the plan	assets during the year is as follows:
				2023	2022
Fair value ofplan assets		at the beginning ofthe year		3,438&000	3,229,000
Interest on plan assets				96,000	68,000
Actuarial gains/(losses)		on assets		(190,000)	162,000
Administration expenses				(1,000)	(1,000)
Business combinations
Settlements
Employer contributions				51,000	48,000
Member contributions Benefits/transfers paid				14,000 14,000 ~64 0003~82 00tl
Fair value ofplan assets		at end ofperiod		3,344,000	3,438,000
Actual Return on plan assets = ($111,000). Experience loss - pension increases =I246,000.
Experience loss - Post September known inflation = f75,000 Experience gain - Other = II5,000
Analysis ofamounts recognised			in the Statement ofFinancial Activities:
				2023	2022
Current service costs				93,000	93,000
Past service costs
Administration expenses				1,000	1,000
Net finance (interest)/costs				25,000	21,000
				119000	115000
Total costs recognised	in SOFA
Statement ofactuarial	gains and		losses:
				2023	2022
					f.
Actuarial gains/(losses)		on liabilities		1,541,000	106,000
Actuarial gains/(losses)		on assets		~390000	162XO
Total actuarial gain/(losses) on defined benefit scheme				1351000	268 000

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