| The financial results were |
as fol | lows: | |||||
|---|---|---|---|---|---|---|---|
| 2022 | 202/ | Change | |||||
| Total revenue | 7,282,051 | 4,875,105 | 2,406,946 | ||||
| Less expenditure, but excluding |
depreciation | for which | |||||
| capital grant reserves exist | (6,050,683) | (5,579,757) | ~470,926) | ||||
| Underlying net operational |
surplus/(loss) | for | the year | 1,231,368 | (704,652) | 1,936,020 |
| Telel unrestri ctedfunds | Telel unrestri ctedfunds | ||||
|---|---|---|---|---|---|
| 2022 | 202/ | ||||
| Notes | |||||
| Income from: | |||||
| Donations and legacies |
11,720 | 186,924 | |||
| Government Grants |
735,721 | 1,024,713 | |||
| Charitable activities |
|||||
| Admissions and education |
income | 1,608,636 | 585,613 | ||
| Gilt Aid membership fees |
2,501,149 | 1,433,598 | |||
| Other trading activities | |||||
| Retail | 1,001,359 | 544,067 | |||
| Catering | 619,566 | 314,962 | |||
| Other corporate income | 235,397 | 195,312 | |||
| Rental income and related | services | 566,912 | 584,386 | ||
| Finance activities | |||||
| Bank interest earned | 1,591 | 5,530 | |||
| Total income | 7,282,051 | 4,875,105 | |||
| Expenditure on: |
|||||
| Cost ofraising funds | |||||
| Commercial trading operations |
~2,095,000 ~1,500,704 | ||||
| Finance activities | |||||
| Net expense on pension scheme | (90,000) | (23,000) | |||
| Bank interest paid | (15,342) | ||||
| Expenditure on charitable |
activities | ||||
| Cost ofoperating visitor attraction |
(2,494,169) | (2,502,557) | |||
| Depreciation | 8 | (2,578,774) | (2,603,235 | ||
| Marketing, publicity and events |
(113,073) | (289,253) | |||
| Management and administration Governance costs |
5 | (h360,163) ~63,748) |
(1,135,035) (49,118) |
||
| Total expenditure | (8,811,069) | (8,182,992) | |||
| Exceptional Item |
|||||
| Revaluation offixed assets | 8 | 4,464,284 | |||
| Trading subsidiary corporation |
tax reclaimable/(due) | 7( ) | 181612 | 32 851 | |
| Net profit/floss) for the year |
3,116,878 | (3,275,036) | |||
| All amounts relate to continuing |
activities |
| 2022 | 202I | |||||
|---|---|---|---|---|---|---|
| Net profit/(loss) for the |
year | 3,116,878 | (3,275,036) | |||
| Actuarial income/(expense) |
recognised | in the pension | scheme | 2,360,000 | (2,984,000) | |
| Deferred tax thereon | (34~8,560 | 587,760 | ||||
| Total comprehensive | sutpius/(toss) | for the year | 5,1211.310 | ~5.571,276) |
| Ca/led up | Profit &loss | ||||
|---|---|---|---|---|---|
| share capital | account | Tota!equity | |||
| Notes | |||||
| At 31 January 2020 | 28,569,176 | 28,569,176 | |||
| Loss for the financial Other comprehensive Total comprehensive |
year loss loss for the year |
(3,275,036) (3,275,036) (2,396,~240 (2,396,240) 5,671,276 5,671,276 ~J.M |
|||
| At 31January 2021 | 22,897,900 | 22,897,900 | |||
| Profit for the financial | year | 3,116,878 | 3,116,878 | ||
| Other comprehensive | income | 2011440 | 2011,440 | ||
| Total comprehensive | income for the year | 5,128,318 | 5,128,318 | ||
| At 31 January 2022 | 28,026,218 | 28,026,218 |
| Called up | Profit k loss | ||||
|---|---|---|---|---|---|
| share capital | account | Total equity | |||
| Notes | |||||
| At 3 1 January 2020 | 28,356,686 | 28,356,686 | |||
| Loss for the financial | year | (2,359,849) | (2,359,849) | ||
| Other comprehensive | loss | ||||
| Total comprehensive | loss for the year | (2,359,849) | (2,359,849) | ||
| At 3 1 January 2021 | 25,996,837 | 25,996,837 | |||
| Profit for the financial | year | 2,711,778 | 2,711,778 | ||
| Other comprehensive | profit | ||||
| Total comprehensive | profit for the year | 2,711,778 | 2,711&778 | ||
| At 31 January 2022 | 28,708,615 | 28,708,615 |
| 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|
| flores | ||||||||
| Fixed assets | ||||||||
| Tangible assets | 8 | 27,130,317 | 25,216,841 | |||||
| Investments | 9 | |||||||
| 27,130,317 | 25,216,841 | |||||||
| Current assets | ||||||||
| Stocks | 10 | 148,685 | 188,495 | |||||
| Debtors | 11 | 1,021,519 | 1,097,294 | |||||
| Cash at bank and in | hand | 3,860,188 | 2,088,305 | |||||
| 5,030,392 | 3,374,094 | |||||||
| Creditors: amounts | falling due | within one year | 12 | ~41,367,493 | 7918,0333 | |||
| Netcurrentassets | 3,862,901 | 2,456,059 | ||||||
| Total assets less current liabilities | 30,993,218 | 27,672,900 | ||||||
| Creditors: amounts |
falling due | in | more than one year | |||||
| Coronavirus Business |
Interruption | Loan | 13 | (52~5000 | ~665,000 | |||
| Provisions forliabilities | ||||||||
| Deferred taxation | 7(d) | |||||||
| Net Assets before pension | asseV(liability) | 30,468,218 | 27,007,900 | |||||
| Pension Liability | (2,442,000) | (4,110,000) | ||||||
| Net Assetsincluding | pension | liability | 28,026,218 | 22,897,900 | ||||
| Funds assets | ||||||||
| Unrestricted income |
funda | 16 | 28,026218 | 22,897,90D | ||||
| Non-ertuity members' |
funds | 28,026,218 | 22,89790D |
| 2022 | 2027 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| Fixed assets | ||||||
| Tangible assets | 8 | 27,047,121 | 25,069,834 | |||
| Investments | 9 | 4 | 4 | |||
| 27,047,125 | 25,069,838 | |||||
| Current assets | ||||||
| Stocks | 10 | |||||
| Debtors | 11 | 3,118,680 | 3,780,904 | |||
| Cash at bank and in | hand | 1,345,255 | 1,237,969 | |||
| 4,463,935 | 5,018,873 | |||||
| Creditors: amounts | falling | due within one year | 12 | (2,802,445) | (4,091,874) | |
| Net current assets | 1,661,490 | 926,999 | ||||
| Total assets less current | liabilities | 28,708,615 | 25,996,837 | |||
| Provisions for liabilities |
||||||
| Deferred taxation | 7(d) | |||||
| Net Assets before pension asset | 28,708,615 | 25,996,837 | ||||
| Pension asset | ||||||
| Net Assets including | pension asset | 28,708,615 | 25,996,837 | |||
| Funds assets | ||||||
| Unrestricted income |
funds | 16 | 28,708,615 | 25,996,837 | ||
| Non-equity members' |
funds | 28,708,615 | 25,996,837 | |||
| P/Br~l | .t' | / I |
||||
| D W Gemmelt OBE | ||||||
| Director | ||||||
| 23 September 2022 |
| 2022 | 202I | ||||
|---|---|---|---|---|---|
| Notes | |||||
| Net cash inflowi(oufflow) from |
operating activities | 14(a) | 1,848,599 | (336,044) | |
| Investing activities |
|||||
| Purchase oftangible | fixed assets | (27,965) | (277,401) | ||
| Interest received | 1,591 | 5,530 | |||
| Financing activities |
|||||
| Coronavirus Business |
Interruption | Loan | 13 | (35,000) | 700,000 |
| Interest paid | +1~5342 | ||||
| Increaset(Decrease) | in cash | 14(b) | 1,771,883 | 92,085 | |
| Total cash and cash | equivalents | at 1February | 2.088.303 | 3 996 220 | |
| Total cash and cash | equivalents | at31January | 14(b) | 3,860,188 | 2,088,305 |
| This is the in | come an | d | expenditure ofthe charity, the parent a |
nd main entity within the group. |
|
|---|---|---|---|---|---|
| 2022 | 202/ | ||||
| Government | Grants | 269,614 | 16,500 | ||
| Gift aid membership | fees | 2,510,743 | 1,463,118 | ||
| Gift aid from | subsidiary | company | 573,452 | 1,322,542 | |
| Grant income | &donations | 4,244 | 80,707 | ||
| Other trading | activities | ||||
| Rental income | 10,000 | 10,000 | |||
| Interest | 603 | 2,652 | |||
| Total income | 3,368,656 | 2,895,519 | |||
| Cost ofoperating visitor attraction |
(2,593,081) | (2,706,605) | |||
| Depreciation | (2,500,013) | (2,528,395) | |||
| Administration | (28,068) | (20,372) | |||
| Exceptional item —revaluation |
4,464,284 | ||||
| Net profit/(loss) | 2,733,778 | ~2339,8733 | |||
| Charity funds | brought | forward —unrestricted | 25,996,837 | 28,356,690 | |
| Charity funds |
carried | forward —unrestricted | 28,708,615 | 25,996,837 |
| Summary profi/ and /oss accoun | /: | ||||
|---|---|---|---|---|---|
| 2022 | 202/ | ||||
| Turnover | 7,089,853 | 6,133,294 | |||
| Cost ofsales | (819,356 | (471,425) | |||
| Gross Profit | 6,270,497 | 5,661,869 | |||
| Administrative expenses &depreciation |
(5,386,737) | (5,265,047) | |||
| Bank interest receivable | 988 | 2,878 | |||
| Other finance (expense)/income | (90,000) | 23,000) | |||
| Profit on ordinary activities before taxation |
794,758 | 376,700 | |||
| Tax —reclaimable/(due) | 181,612 | 32,851 | |||
| Profit for the financial year |
976,360 | 409,551 | |||
| Profit for the financial year | 976,360 | 409,551 | |||
| Remeasurement loss recognised |
on defined benefit pension scheme | 2,360,000 | (2,984,000) | ||
| Movement on deferred tax relating to pension |
scheme | (348,560) | 587,760 | ||
| Total comprehensive (expense)/income |
in the | year | 2,987,800 | (1,986,689) | |
| Turnover includes donations of |
82,593,994(2021 —82,798,025) from the Charity EMIH Limited for | ||||
| services provided to the Charity. | In addition, | 8573,452 (2021 —81,322,542) was Gift aided to the Charity | |||
| during the year. |
| services provided to the Charity. In addition, 857 during the year. The assets and liabilities ofthe subsidiary were: |
3,452 (2021 —81,322 | ,542) w | as Gift aided to | the Charity |
|---|---|---|---|---|
| 2022 | 202/ | |||
| Tangible fixed assets | 83,196 | 147,007 | ||
| Current assets | 6,212,837 | 6,142,727 | ||
| Creditors: amounts falling due within one year |
(4,011,428) | (4,611,477) | ||
| Provisions for liabilities & charges - Coronavirus |
Business Interruption | Loan | )525,000) | ~665,000) |
| Net Assets before pension asset/(liability) | 1,759,605 | 1,013,257 | ||
| Pension liability Net Assets including pension liability Aggregate share capital and reserves |
(2,442,000) ~682,395 ~682,395) |
(4,110,000) ~3.096.743) 43,096.743) |
| Charitable exp |
endi | ture in |
clude | s | |||
|---|---|---|---|---|---|---|---|
| 2022 | 2027 | ||||||
| Governance costs: |
|||||||
| Legal, professional | and | administrative | costs | 17,848 | 4,598 | ||
| Auditors' remuneration |
— | audit | services | 36,000 | 33,000 | ||
| Auditors' remuneration |
— | other | assurance | services | |||
| taxation services | 9,900 | 11,520 | |||||
| 63,748 | 49,118 | ||||||
| Depreciation | 2,578,774 | 2,603,235 | |||||
| Directors remuneration | |||||||
| Staffcosts | 2,737,094 | 3,005,569 |
| 2022 | 202/ | ||||
|---|---|---|---|---|---|
| Salaries | 2,281,718 | 2,468,623 | |||
| Employer | national | insurance | contributions | 173,522 | 170,226 |
| Employer | pension | contributions | 281,854 | 366,720 | |
| 2,737,094 | 3,005,569 |
(2021 —860,000) in the year was as follo |
ws: | |||
|---|---|---|---|---|
| 2022 | 202/ | |||
| No. | No. | |||
| f60,001 —870,000 | ||||
| f70,001 —f80,000 | ||||
| 880,001 —f90,000 | ||||
| 890,001 —K100,000 | ||||
| f100,001 —X 1 10,000 | ||||
| 8110,001 —8120,000 | ||||
| f.120,001 —f130,000 | ||||
| 8130,001 —f140,000 | ||||
| The average number ofpeople employed | by the company | was as foBows: | ||
| 2022 | 202/ | |||
| No. | No. | |||
| Management | 5 | 6 | ||
| Administration | 127 | 138 | ||
| 132 | 144 |
| Tax (a) Tax on profit on ordinary activities The tax charge/(credit) is made up as follows: |
|||
|---|---|---|---|
| 2022 | 202/ | ||
| Current tax: | |||
| UK corporation tax for the year |
|||
| Total current tax | |||
| Deferred taxi | |||
| Origination and reversal oftiming differences EfFect ofchanges in tax rates Total deferred tax: Tax credit on ordinary activities |
(136724) ~(44,888 ~181,612 ~5381,612 |
(36078) 3 223 ~32,851) ~432,853 |
|
| Taxincluded in the statement ofother comprehensive | income | ||
| Actuarial loss on pension scheme |
348,560 | L587,~760 | |
| Total deferred tax |
| 2022 | 202/ | |||||
|---|---|---|---|---|---|---|
| Trading profit on ordinary activities before tax |
794,748 | 376,700 | ||||
| Profit on ordinary activities multiplied by standard |
rate ofcorporation | tax in | ||||
| the UK of19%(2021 —19%) | 151,002 | 71,573 | ||||
| Effects of: | ||||||
| Expenses not deductible for tax purposes |
1,024 | 1,305 | ||||
| Tax rate changes | (44,888) | 3,227 | ||||
| Qualifying Donations Total tax credit for the year |
)288 750) 181,612 |
(108,956) ~32,85)) |
||||
| (c) Deferred tax |
||||||
| The deferred tax included in the |
balance sheet | is as follows: | ||||
| 2022 | 202/ | |||||
| Capital allowances in advance ofdepreciation |
14,075 | 19,830 | ||||
| Other timing differences Included in (debtors)/provisions |
for liabilities | and charges | ~617,109 ~603.034 |
(789,812) )769.982) |
||
| At 1 February 2021 |
(769,982) | |||||
| Profit and loss account movement | for the year | (181,612) | ||||
| Amount charged to statement of |
comprehensive | income | 348,560 | |||
| At 31 January 2022 —included in debtors |
603,034 |
| Visitor | |||
|---|---|---|---|
| atiracuon, | |||
| business | |||
| centre and | |||
| Group | Equiptnent | warehouse | Total |
| Cost or valuation: | |||
| At I February 2021 | 248,362 | 32,222,104 | 32,470,466 |
| Additions | 14,950 | 13,015 | 27,965 |
| Revaluation | (4,250,000) | (4,250,000) | |
| Disposals | |||
| At 31 January 2021 | 263,312 | 27,985,119 | 28,248,431 |
| Depreciation; | |||
| At I February 2021 | (101,356) | (7,152,269) | (7,253,625) |
| Provided in the year |
(78,760) | (2,500,013) | (2,578,773) |
| Revaluation | 8,714,284 | 8,714,284 | |
| Disposals | |||
| At 31 January 2022 | (180,116) | (937,998)) | (1,118,114) |
| Net book value: | |||
| At I February 2021 | 147,006 | 25,069,835 | 25,216,841 |
| At 31 January 2022 | 83,196 | 27,047,121 | 27,130,317 |
| Tangible fixed assets (continued) | ||
|---|---|---|
| Visitor | ||
| attraction, | ||
| business | ||
| centre and | ||
| Charity((Company) | warehouse | Total |
| Cost or valuation: | ||
| At I February 2021 | 32,222,104 | 32,222,104 |
| Additions | 13,015 | 13,015 |
| Revaluation | (4,250,000) | (4,250,000) |
| Disposals | ||
| At31 January 2022 | 27,985,119 | 27,985,119 |
| Depreciation: | ||
| At I February 2021 | (7,152,269) | (7,152,269) |
| Provided in the year |
(2,500,013) | (2,500,013) |
| Revaluation | 8,714,284 | 8.714.284 |
| Disposals | ||
| At 31 January 2022 | (937,998) | (937,998) |
| Net book value: | ||
| At I February 2021 | 25,069,835 | 25,069,835 |
| At31 January 2022 | 27,047,121 | 27,047,121 |
| Ifthese assets had not been revalued they would b |
e held in the balance sheet at: | |
|---|---|---|
| Group | Charity | |
| Cost: | ||
| At I February 2021 | 48,368,647 | 48,120,284 |
| Additions | 27,965 | 13,015 |
| Disposals | ||
| At 31 January 2022 | 48,396,612 | 48,133,299 |
| Depreciation; | ||
| At I February 2021 | (34,440,956) | (34,151,451) |
| Charge | (2,578,774) | (2,500,013) |
| Disposals | ||
| At 31 January 20221 | (37,019,730) | (36,651,464) |
| Net book value: | ||
| At I February 2021 |
16,253,525 | 16,379,807 |
| At 31 January 2022 | 11,376,882 | 11,481,835 |
| Investmen | ts compr |
ise the wholly owned subsidiary | undertakings: | ||||
|---|---|---|---|---|---|---|---|
| Proportion of | |||||||
| voting rights | |||||||
| and shares | Nature of | ||||||
| Name ofcompany | Shares held | held | business | ||||
| Subsidiary undertakings |
|||||||
| Running | Deep Limited (Registered No. 03606689) | Ordinary | 100% | Tourism | |||
| Deep Developments | Limited (Registered No. 03606659) | Ordinary | 100% | Dormant | |||
| 10. | Stocks | ||||||
| Group | Charity | ||||||
| 2022 | 2021 | 2022 | 202l | ||||
| Finished | goods | 148,685 | 188,495 | ||||
| 11. | Debtors | ||||||
| Group | Charity | ||||||
| 2022 | 2021 | 2022 | 202l | ||||
| Trade debtors | 76,318 | 48,726 | |||||
| Other debtors | 14,985 | 30,035 | |||||
| Prepayments and accrued income |
327,182 | 248,551 | 213,748 | 10,467 | |||
| Amounts | owed by | group undertakings | 2,904,932 | 3,770,437 | |||
| Deferred | taxation | 603,034 | 769,982 | ||||
| 1,021,519 | 1,097,294 | 3,118,680 | 3,780,904 |
| Group | Charily | |||||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 202/ | 2022 | 202/ | |||||
| Coronavirus | business | interruption | loan | 140,000 | 35,000 | |||
| Trade creditors | 242,659 | 298,353 | ||||||
| Accruals | & | deferred | income | 92,055 | 134,673 | 41,417 | 79,467 | |
| Other creditors | 560,218 | 397,455 | 19,580 | 16,600 | ||||
| VAT | 132,559 | 52,554 | ||||||
| Amounts | owed to group undertakings | 2,741.448 | 3,995,807 | |||||
| 1,167,491 | 918035 | 2,802,445 | 4,091,874 |
| Creditors | amounts | due in | more than | one year | ||||
| Group | Charity | |||||||
| 2022 | 202/ | 2022 | 202/ | |||||
| Coronavirus | business | interruption | loan | 525,000 | 665,000 | |||
| 525,000 | 665,000 |
| (a) Reconciliatio |
n ofoperating loss to |
net cash inflow from operating | activities | |
|---|---|---|---|---|
| 2022 | 202/ | |||
| Net profit/(loss) for |
the year | 3,116,878 | (3,275,036) | |
| Trading subsidiary | taxation | (181,612) | (32,851) | |
| Interest received | (1,591) | (5,530) | ||
| Interest paid | 15,342 | |||
| Decrease/(Increase) | in stocks | 39,810 | 55 | |
| (Increase)/decrease | in debtors, excluding | deferred tax | (91,173) | 32,700 |
| Increase/(Decrease) | in creditors | 109,455 | 71,383 | |
| Depreciation | 2,578,774 | 2,603,235 | ||
| Revaluation offixed assets |
(4,464,284) | |||
| Movement in pension asset arising out of |
operations | 637,000 | 247,000 | |
| Movement in pension asset arising out of |
nther finance expense | 90,000 | 23,000 | |
| Net cash (outflow)/inflow from operating |
activities | 1,848,599 | 363,956 |
| (b) Cash and cash equivalents |
|||
|---|---|---|---|
| At | At | ||
| I February | 31January | ||
| Group | 2021 | Cashflow | 2022 |
| Net cash —cash at bank | 2,088,305 | 1,771.883 | 3,860,188 |
| At | At | ||
| IFebruary | 31January | ||
| Charity/Company | 2021 | Cash flow | 2022 |
| Net cash —cash at bank | 1,237,969 | 107,286 | 1,345,255 |
| Unrest | ricted fun |
ds ofthe | charity | ||||
|---|---|---|---|---|---|---|---|
| Group | Charity | ||||||
| 2022 | 2021 | 2022 | 2021 | ||||
| f | |||||||
| At 1 February |
22,897,900 | 28,569,176 | 25,996,837 | 28,356,690 | |||
| Net loss | for the year | 3,116,878 | (3,275,036) | 2,711,778 | (2,359,853) | ||
| Actuarial | profit/(loss) | recognised | in the | ||||
| pension | scheme | 2,360,000 | (2,984,000) | ||||
| Deferred | tax thereon | (348,560) | 587,760 | ||||
| At 31 January | 28,026,218 | 22,897 900 | 28,708,613 | 23,996,837 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| 0/ | ||||
| Main assumptions: | ||||
| Rate ofincrease in |
salaries | 4.05 | 3.70 | |
| Rate ofincrease in |
pensions | in payment | 3.15 | 2.80 |
| Discount rate | 2.75 | 2.05 | ||
| Post retirement mortality |
Years | Years | ||
| Current pensioners |
at 65 —male | 20.8 | 21.0 | |
| Current pensioners |
at 65 —female | 23.5 | 23.7 | |
| Future pensioners | at 65 —male | 22.0 | 22.2 | |
| Future pensioners | at 65 —female | 25.3 | 25.5 |
| The assets an | d liabilities ofthe scheme included in the b |
alance sheet are as follows; | |
|---|---|---|---|
| 2022 | 2021 | ||
| Value | Value | ||
| $000 | $000 | ||
| Equities | 9,190 | 7,692 | |
| Bonds | 1,915 | 2,067 | |
| Properties | 1,532 | 1,378 | |
| Others | 128 | 344 | |
| Fair value ofscheme assets | 12,765 | 11,481 | |
| Present value Net pension |
ofscheme liabilities liability |
(15,207) ~2,442 |
(15,591) ~4!10 |
| Scheme assets are stated at | their mar | their mar | ket value | at the respective balance sheet |
at the respective balance sheet |
dates. | |
|---|---|---|---|---|---|---|---|
| The amounts recognised in |
the profit | and loss | account and in the statement of | other comprehensive | income | ||
| for the year are analysed as |
follows: | ||||||
| Recognised in profit and loss account | 2022 | 202/ | |||||
| OOOO | $000 | ||||||
| Current service cost | 891 | 522 | |||||
| Past service costs | 53 | ||||||
| Total operating costs |
891 | 575 | |||||
| Other finance income: interest on pension scheme liabilities | (90) | (23) | |||||
| Total other finance (cost)/income | (90) | (23) | |||||
| Recognised in other comprehensive | income | 2022 | 2021 | ||||
| 5000 | $000 | ||||||
| Return on assets excluding | amounts | included | in net interest | 772 | 1,462 | ||
| Changes in demographic assumptions |
79 | (206) | |||||
| Other experience changes Changes in fmancial assumptions Re-measurement gains and losses recognised |
in other comprehensive | income | (34) 95 1,343~4,333 2,360~2,9343 |
||||
| Changes in the present value ofthe |
defined benefit obligation: | ||||||
| 2022 | 202/ | ||||||
| OOOO | $000 | ||||||
| At I April | 15,591 | 10,330 | |||||
| Current service cost | 891 | 575 | |||||
| Interest cost | 328 | 244 | |||||
| Contributions by members |
119 | 113 | |||||
| Actuarial (gains) and losses Benefits paid |
(1,588) 4,446 ~7734~777 |
||||||
| At 31 March | 15,207 | 15,591 |
| Changes in th |
e fair value ofplan assets: | ||
|---|---|---|---|
| 2022 | 2027 | ||
| $000 | $000 | ||
| At 1 April |
11,481 | 9,474 | |
| Actual return | on plan assets | 1,010 | 1,683 |
| Contributions | by members | 119 | 113 |
| Contributions | by employer | 289 | 328 |
| Benefits paid | (134) | (117) | |
| At 31 March | l2.765 | 11481 |
| The sensitivitie below: |
s regarding |
the principal assumptions used to |
measure the scheme liabilities are |
set out |
|---|---|---|---|---|
| Approximate | Approximate | |||
| %increase | monetary | |||
| to employer | amount | |||
| Changes in assumption at |
31March 2022 | liability | (t."000) | |
| 0.1%decrease | in real discount rate | 3% | 418 | |
| 1 year increase | in member | life expectancy | 4% | 608 |
| 0.1%increase | in the salary | increase rate | 0% | 53 |
| 0.1%increase | in the pension increase rate |
2% | 362 |