## 

## 

||||Page|Page||
|---|---|---|---|---|---|
|Reference and Administrative<br>Details||||||
|Report ofthe Trustees|||2|Io|5|
|Report ofthe Independent|Auditors||6|to|7|
|Consolidated<br>Statement of Financial||Activities|8|to|9|
|Balance Sheet —Company|and Consolidated|||10||
|Consolidated<br>Cash Flow Statement||||||
|Notes to the Consolidated|Statement|of Cash Flows||12||
|Notes to the Consolidated|Financial|Stateents|13|to|27|





## 

## 

|TRUSTEES||A R Roberts MBE|A R Roberts MBE|JP|- Chairman|- Chairman|(resigned|(resigned|(resigned|31352020)|
|---|---|---|---|---|---|---|---|---|---|---|
|||R Hazell|||||||||
|||C Mangle<br>M J Gutowski<br>- Chairman<br>(appointed||||||1.08||2020)|
|||M W A Warde-Norbury|||||||||
|||J Taylor<br>Mrs S M Dumican||(appointed||18,2.2020)|||||
|COMPANY SECRETARY||J D Weston|||||||||
|REGISTERED OFFICE||Doncaster Deaf|Trust||||||||
|||Leger Way|||||||||
|||Doncaster|||||||||
|||DN2 6AY|||||||||
|REGISTERED COMPANY|NUMBER|04105045 (England|||and Wales)||||||
|REGISTERED CHARITY|NUMBER|1088060|||||||||
|AUDITORS||Allotts Business|Services Ltd,|||Statutory|||Auditor||
|||Chartered<br>Accountants|||||||||
|||Sidings Court|||||||||
|||Lakeside|||||||||
|||Doncaster|||||||||
|||South Yorkshire|||||||||
|||DN4 5NU|||||||||
|BANKERS||HSBC|||||||||
|||1 High Street|||||||||
|||Doncaster|||||||||
|||South Yorkshire|||||||||
|||DN1 1EE|||||||||
|SOLICITORS||Veale Wasbrough||Vizards|||||||
|||Orchard<br>Court|||||||||
|||Orchard<br>Lane|||||||||
|||Bristol|||||||||
|||BS15WS|||||||||
|SENIOR MANAGEMENT|TEAM|A L Johnson<br>-|Executive Principal||||||||
|||Ms T Greaves|-|Chief Finance|||Officer||||
|||P Carter - HR Manager|||||||||





## 



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## 

||||For Th|e Year Ended 31|Au<br>ust 2020|||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Designated|Restricted|
||||||funds|funds|fund|
|||||Notes|E'000|L'000|E'000|
|INCOME AND ENDOWMENTS||FROM||||||
|Donations<br>and legacies|||||30||41|
|Charitable<br>activities||||||||
|Charity's<br>educational|operations||||7,999||162|
|Other trading<br>activities|||||106|||
|Investment<br>income|||||30|||
|Other income|||||78|||
|Total|||||8,243||203|
|EXPENDITURE ON||||||||
|Charitable<br>activities||||||||
|Charity's<br>educational<br>operations|||||8,346|59|102|
|Net gains/(losses)<br>on|investments||||~39)|||
|NET INCOME/(EXPENDITURE)|||||(142)|(59)|101|
|Other recognised<br>gains/(losses)||||||||
|Actuarial<br>gains/(losses)|on defined||benefit|||||
|schemes|||||(1,012)|||
|Net movement<br>in funds|||||(1,154)|(59)|101|
|RECONCILIATION<br>OF FUNDS||||||||
|Total funds brought|forward||||(5,372)|3,601|225|
|TOTAL FUNDS CARRIED FORWARD|||||~6526)|3,542|326|





## 

|||Consolidated|Consolidated|Consolidated|Statement|of Financial|of Financial|Activities|Activities|||
|---|---|---|---|---|---|---|---|---|---|---|---|
||Incor||oratln|an Income and Ex|||enditure||Account|||
||||For|The Year Ended||31 Au|ust|2020||||
|||||||||||2020|2019|
|||||||||Endowment||Total|Total|
||||||||||fund|funds|funds|
||||||Notes||||F'000|6'000|F'000|
|INCOME AND ENDOWMENTS||FROM||||||||||
|Donations<br>and legacies||||||||||71|40|
|Charitable<br>activities||||||||||||
|Chanty's<br>educational<br>operations||||||||||8,161|8,117|
|Other trading<br>activities||||||||||106|253|
|Investment<br>income||||||||||30|31|
|Otherincome||||||||||78|319|
|Total||||||||||8,446|8,760|
|EXPENDI1URE ON||||||||||||
|Charitable<br>activities||||||||||||
|Charity's<br>educational<br>operations|||||||||3|8,510|9,062|
|Net gains/(losses)<br>on|investments|||||||||~39)||
|NET INCOME/(EXPENDITURE)|||||||||(3)|(103)|(283)|
|Other recognised<br>gains/(losses)||||||||||||
|Actuarial gains/(losses)<br>schemes|on defined||benefit|||||||(1,012)|(2,361)|
|Net movement<br>In funds|||||||||(3)|(1,115)|(2,644)|
|RECONCILIATION<br>OF FUNDS||||||||||||
|Total funds brought|forward||||||||593|(953)|1,691|
|TOTAL FUNDS CARRIED FORWARD|||||||||590|(2,068)|~953)|





## 

|||Doncaster Deaf Tru|Doncaster Deaf Tru|st||||
|---|---|---|---|---|---|---|---|
|||Balance Sheet||||||
|||~31 A|12223|||||
|||||Group|Group|Charity|Charity|
|||||2020|2019|2020|2019|
||||Notes|6'000|E'000|6'000|F'000|
|FIXEDASSETS||||||||
|Tangible assets|||15|2,808|2,839|2,218|2,246|
|CURRENT ASSETS||||||||
|Debtors|||16|396|249|396|249|
|Investments|||17|1,265|1,318|1,265|1,318|
|Cash at bank and|in hand|||832|719|832|719|
|||||2,493|2,286|2,493|2,286|
|CREDITORS||||||||
|Amounts<br>falling due within one year|||18|(559)|(598)|(559)|(598)|
|NET CURRENT ASSETS||||1 934|1 688|1 934|1 688|
|TOTAL ASSETS|LESSCURRENT|LIABILITIES||4,742|4,527|4,152|3,934|
|PENSION LIABILITY|||22|(6,810)|(5,480)|(6,810)|(5,480)|
|NET ASSETS/(LIABILITIES)||||||||
|FUNDS|||21|||||
|Unrestricted<br>funds||||(2,984)|(1,771)|(2,984)|(1,771)|
|Restricted funds||||326|225|326|225|
|Endowment<br>funds||||590|593|||



## 



## 

|||Consolidated|Consolidated|Consolidated|Statement|of|Cash Flows||
|---|---|---|---|---|---|---|---|---|
|||For||The Year Ended 31||Au|ust 2020||
||||||||2020|2019|
|||||Notes|||6'000|6'000|
|Cash flows from operating|activities||||||||
|Cash generated<br>from operations|||||||105|25|
|Net cash provided<br>by operating<br>activities|||||||105|25|
|Cash flows from investing|activities||||||||
|Purchase<br>of tangible<br>fixed assets<br>Purchase<br>offixed asset investments<br>Sale of tangible<br>fixed assets|||||||(36)<br>(170)|(65)<br>(198)<br>131|
|Sale of fixed asset investments|||||||184|212|
|Interest received|||||||30|31|
|Net cash prowded<br>by investing<br>activities|||||||||
|Change<br>in cash and cash|equivalents||in||||||
|the reporting<br>period|||||||113|136|
|Cash and cash equivalents|at the||||||||
|beginning<br>ofthe reporting|period||||||719|583|
|Cash and cash equivalents|at the|end|of||||||
|the reporting<br>period|||||||832|719|





## 

## 

## 

## 

|||||2020|2019|
|---|---|---|---|---|---|
|||||F'000|D000|
|Net expenditure<br>for the reporting|period (as per the Statement|of||||
|Financial Activities)<br>Adjustments<br>for:||||(103)|(283)|
|Depreciation<br>charges||||67|76|
|Losses/(gain)<br>on investments<br>Profit on disposal offixed assets<br>Interest received<br>(Increase)/decrease<br>in debtors<br>Decrease<br>in creditors<br>Difference between<br>pension charge|and cash contributions|||39<br>(30)<br>(147)<br>(39)<br>318|(20)<br>(91)<br>(31)<br>135<br>(79)<br>318|
|Net cash provided<br>by operations||||105|25|
|ANALYSIS OF CHANGES<br>IN NET|FUNDS|||||
|||At|1.9.19|Cash flow|At 31.8.20|
||||6'000|E'000|6'000|
|Net cash||||||
|Cash at bank and<br>in hand|||719|113|832|
||||719|113|832|
|Liquid resources||||||
|Deposits included<br>in cash<br>Current asset investments|||~1318|~53)|~1265|
||||1,318|~53)||
|Total|||2,037|60|2,097|





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## 

## 

## 

|||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|---|
|||||||||E'000|E'000|
|Donations||||||||71|27|
|Legacies|||||||||13|
|||||||||71|40|
|OTHER TRADING ACTIVITIES||||||||||
|||||||||2020|2019|
|||||||||F'000|E'000|
|Room hire||||||||94|233|
|Sports hall hire||||||||9|19|
|Car parking||||||||3|1|
|||||||||106|253|
|INVESTMENT||INCOME||||||||
|||||||||2020|2019|
|||||||||E'000|E'000|
|interest on cash|||deposits|||||2|1|
|Listed investments||||||||28|30|
|||||||||30|31|
|INCOME FROM|||CHARITABLE||ACTIVITIES|||||
|||||||||2020|2019|
||||||Activity|||F'000|E'000|
|Fees and grants|||from funding|||||||
|authorities|||||Charity's|educational|operations|7,844|7,891|
|Training<br>for Work|||student|||||||
|outcomes|||||Chanty's|educational|operations|317|226|
|||||||||~8161|8,117|
|OTHER INCOME||||||||||
|||||||||2020|2019|
|||||||||F'000|E'000|
|Gain on sale of||tangible||fixed assets|||||91|
|Sundry income|||||||||107|
|Rentai income|||||||||121|
|Coronavirus|support grants|||||||71||
|||||||||78|319|





## 

## 

## 

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## 

## 

|||||Direct|
|---|---|---|---|---|
|||||Costs (see|
|||||note 9)|
|||||L'000|
|Charity's<br>educational<br>operations||||8,510|
|DIRECT COSTS OF CHARITABLE ACTIVITIES|||||
||||2020|2019|
||||6'000|6'000|
|Teaching salaries and|related expenses||5,344|5,125|
|Books and apparatus|||66|77|
|Food and allowances|||213|326|
|Clothing<br>and laundry|||7|7|
|Transport<br>and travel expenses|||46|187|
|Traimng|||32|60|
|Exam and tuition fees|||89|166|
|Miscellaneous<br>teaching|expenses||3|5|
|Other salaries<br>and related expenses|||1,419|1,392|
|Light, heat and power|||197|273|
|Maintenance<br>and repairs|||124|447|
|Insurance|||114|96|
|Printing,<br>postage and stationery|||18|23|
|Furniture<br>and equipment|||24|47|
|Cleaning|||18|20|
|Computer<br>running<br>costs|||30|41|
|Telephone|||11|13|
|Legal and professional|fees||84|68|
|Marketing<br>and advertising|||21|51|
|Miscellaneous<br>running|expenses||197|174|
|Defined benefit contribution||costs|318|318|
|Governance<br>costs|||68|70|
|Depreciation|||67|76|
||||8,510|9,062|
|NET INCOME/(EXPENDITURE)|||||
|Net income/(expenditure)|is|stated after charging/(crediting):|||
||||2020|2019|
||||6'000|f.'000|
|Depreciation<br>-owned assets|||67|76|
|Surplus on disposal of fixed||assets||(91)|
|Auditors'<br>remuneration|||8|8|
|Operating<br>leases|||40|42|



## 

## 



## 

## 

## 

## 

## 

## 

## 

|STAFF|COSTS||||||
|---|---|---|---|---|---|---|
||||||2020|2019|
||||||E'000|E'000|
|Wages and salaries|||||5,522|5,418|
|Social security costs|||||475|461|
|Pension|costs||||802|673|
||||||6,799|6,552|
|The average<br>monthly||number of employees|during|the year was as follows|||
||||||2020|2019|
|Teaching|and care of|students|||186|179|
|Non educational|||||54|48|
||||||240|227|



|The num|ber of employees<br>whose employee<br>benefits|(excluding<br>employer<br>pension costs) exceeded|E60,000|
|---|---|---|---|
|||2020|2019|
|E60,001|- E70,000|2|3|
|E70,001|- E80,000|2|3|
|E90,001|- E100,000|1||



## 



## 

||||Doncas|Doncas|Doncas|ter Deaf|ter Deaf|Trust|Trust||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Notes||to the Consolidated|||Financial||Statements||- continued|||
|||||For The Year||End|1|Au|ust 2020||||
|13.|COMPARATIVES<br>FOR THE|||STATEMENT OF||FINANCIAL||ACTIVITIES|||||
|||||Unrestricted|||Designated||Restricted||Endowment|Total|
||||||funds||funds|||fund|fund|funds|
||||||6'000||6'000|||6'000|6'000|6'000|
||INCOME AND||||||||||||
||ENDOWMENTS<br>FROM||||||||||||
||Donations<br>and legacies||||40|||||||40|
||Charitable<br>activities||||||||||||
||Charity's<br>educational||||||||||||
||operations||||7,991|||||126||8,117|
||Other trading<br>activities||||253|||||||253|
||Investment<br>income||||31|||||||31|
||Other income||||319|||||||319|
||Total||||8,634|||||126||8,760|
||EXPENDITURE ON||||||||||||
||Charitable<br>activities||||||||||||
||Charity's<br>educational||||||||||||
||operations||||8,891|||68||100||9,062|
||Net gains on investments||||19|||||||19|
||NET||||||||||||
||INCOME/(EXPENDITURE)||||(238)||(68)|||26|(3)|(283)|
||Transfers<br>between|funds|||||||||||
||Other recognised||||||||||||
||gains/(losses)||||||||||||
||Actuarial gains/(losses)||on||||||||||
||defined<br>benefit schemes||||(2,361)|||||||(2,361)|
||Net movement<br>in funds||||(2,600)||(68)|||27|(3)|(2,644)|
||RECONCILIATION<br>OF||||||||||||
||FUNDS||||||||||||
||Total funds brought||||||||||||
||forward||||(2,772)||3,669|||198|596|1,691|
||TOTAL FUNDS CARRIED||||||||||||
||FORWARD||||(5,372)||~3601|||225|593|~953)|
|14.|DEFINED BENEFIT CONTRIBUTION||||COSTS||||||||
||||||||||||2020|2019|
||||||||||||6'000|6'000|
||Current service cost||||||||||599|459|
||Past service cost||||||||||11|167|
||Employer<br>contributions||||||||||(395)|(387)|
||Administration<br>expenses||||||||||8|6|
||Net interest/return<br>on|assets|||||||||95|73|
||||||||||||318|318|





## 

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## 

## 

|TANGIBLE FIXEDAS|SETS|||||
|---|---|---|---|---|---|
||||Furniture,|||
||Freehold|Freehold|plant and|Motor||
|Group|land|buildings|equipment|vehicles|Totals|
||F'000|8'000|6'000|L"000|f'000|
|COST||||||
|At 1 September 2019|800|2,060|1,107|53|4,020|
|Additions|||36||36|
|At 31 August 2020|800|2 060|1,143 '|53|4,056|
|DEPRECIATION||||||
|At 1 September 2019||316|816|49|1,181|
|Charge for year||20|45|2|67|
|At 31 August 2020||336|861|51|1,248|
|NET BOOK VALUE||||||
|At 31 August 2020|800|1,724|282||2,808|
|At 31 August 2019|800|~1744|291||2,839|
|Charity|||Furniture,|||
||Freehold|Freehold|plant and|Motor|Charity|
||land|buildings|equipment|vehicles|total|
||6'000|6'000|6'000|E'000|6'000|
|COST||||||
|At 1 September 2019|600|1,610|1,107|53|3,370|
|Additions|||36||36|
|At 31 August 2020|600|1,610|1,143|53|3,406|
|DEPRECIATION||||||
|At 1 September 2019||259|816|49|1,124|
|Charge for year||17|45|2|64|
|At 31 August 2020||276|161|51|1,188|
|NET BOOK VALUE||||||
|At 31August 2020|600|1,334|282|2|~2218|
|At 31 August 2019|600|1,351|291|4|2,246|
|DEBTORS: AMOUNTS|FALLING DUE WITHIN|ONE YEAR||||
|||Group|Group|Charity|Charity|
|||2020|2019|2020|2019|
|||E'000|f.'000|6'000|6'000|
|Other debtors||393|133|393|133|
|Prepaymsnts||3|50|3|50|
|Accrued income|||66||66|
|||396|249|396|249|





## 

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## 

|CURRENT ASSET INVESTMENTS||||||
|---|---|---|---|---|---|
|||Group|Group|Charity|Charity|
|||2020|2019|2020|2019|
|||f'000|f'000|E'000|f'000|
|Market value at 1 September 2019||1,318|1,312|1,318|1,312|
|Add: Acquisitions<br>at cost||170|198|170|198|
|Less: Disposals at market<br>value<br>Net (loss)/gain<br>on revaluation<br>at 31 August 2020||(196)<br>~27)|(210)<br>18|(196)<br>~27)|(210)<br>18|
|||1,265|1,318|1,265|~1318|
|Cost as at 31 August 2020||~1075|1,055|1,075|1,055|
|The gain on investment<br>assets included|in the|||||
|Statement<br>of Financial<br>Activities comprises:-||||||
|Unrealised<br>(loss)/gain<br>on revaluation||(27)|17|(27)||
|(Loss)/profit<br>on disposal<br>from previous<br>value|market||2|~12)||
|||~39)|19|~39)|19|



|August 20|19are:-||||||
|---|---|---|---|---|---|---|
||||||Market|Market|
||||||value|value|
||||||2020|2019|
||||||f'000|f'000|
|Threadneedle<br>Inv UK Equity|||Income||59|68|
|Jupiter UT|Managers<br>UK Special Situations||||48|61|
|Artemis<br>Fund Managers<br>Ltd|||Income|Inc||63|
|JP Morgan|Funds<br>Ltd US|Equity Inc||K Net Inc|62|68|
|M&G Securities<br>Ltd Optimal|||Income|J|63|64|
|Liontrust<br>Fund Par Special||Situations||Ins Inc|86||
|Altianz Global Investment||Gilt|||84|83|
|JP Morgan|Am UK Ltd UK|Equity Core E Net Inc|||86|102|
|Vanguard|Funds Pic||||81|74|
||||||569|583|
|Investments|are represented||by:||||
|Listed UK|Securities||||493|535|
|Listed Overseas Secunties|||||750|757|
|Cash held|pending<br>investment||||22|26|
||||||1,265|1,318|





## 

## 

## 

## 

|||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|
|||||2020|2019|2020|2019|
|||||F'000|F'000|F.'000|F'000|
|Trade creditors||||130|162|130|162|
|Other taxes and social||security||110|125|110|125|
|Accruals||||129|91|129|91|
|Deferred|income|||190|220|190|220|
|||||559|598|559|598|
|Deferred|income|||||||
|Balance|as at 1 September 2019|||220|217|220|217|
|Fees received||||7,638|7,672|7,638|7,672|
|Released|to Statement|of Finanaal|Activities|~7668)|(7,669)|(7,668)|(7,669)|
|Balance|as at 31 August 2020|||190|220|190|220|



## 

## 

## 

|Minimum<br>l|ease payments<br>under non-cancella|ble<br>operating<br>leases|fall due as foll|ows:||
|---|---|---|---|---|---|
|||Group|Group|Charity|Charity|
|||2020|2019|2020|2019|
|||6'000|6'000|L'000|F'000|
|Within one|year|35|34|35|34|
|Between one and five years||51|68|51|68|
|||86|102|86|102|
|NET ASSETS OF THE GROUP'6 FUNDS||||||
|The group's|net assets belong to the various|funds as follows:||||
|||||Net current||
||||Fixed|assets/|Fund|
||||assets|(liabilities)|balances|
||||L'000|F.'000|F'000|
|Unrestricted|funds||2,103|(5,087)|(2,984)|
|Restricted|funds||115|211|326|
|Endowment|funds||590||590|
||||2,808|(4,876)|(2,068)|



|The charity'|s<br>net assets belong to the various|funds as follows|||
|---|---|---|---|---|
||||Net current||
|||Fixed|assets/|Fund|
|||assets|(liabilities)|balances|
|||F'000|6'000|6'000|
|Unrestricted|funds|2,103|(5,087)|(2,984)|
|Restricted|funds|115|211|326|
|||2,218|(4,876)|(2,658)|





## 

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## 


## 

## 

|Restric|ted funds|: movement|in the year - Grou|p and Comp|any||||
|---|---|---|---|---|---|---|---|---|
||||Balance at|||Transfers|and|Balance at|
||||1 September|||investment||31 August|
||||2019|Income|Expended|gains/(losses)||2020|
||||E'000|E'000|E'000||E'000|E'000|
|Nursery|Building|Fund|113||(3)|||110|
|Student|Bursary|Fund|55|25|(16)|||64|
|Smart|Boards Fund||2||(1)|||1|
|Forest|School Fund||3||(1)|||2|
|New Care Home||Fund|9|||||10|
|Technology<br>Fund|||2|||||2|
|Cycle Fund|||9|||||9|
|Chapel|Fund||2|||||2|
|Youth Club Fund|||13|||||13|
|Energy|Fund|||70|(66)|||4|
|Community<br>Fund|||17|44|(4)|||57|
|IT Equipment<br>Fund||||25|(11)|||14|
|Barista|Fund|||5||||5|
|Blades|for Our Heroes Fund|||1||||1|
|Residences<br>Fund||||32||||32|
||||225|203|~102)|||326|






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## 

||||||||||Defined|benefit|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||pension|plans|
||||||||||2020|2019|
||||||||||E'000|E'000|
|Present value||of funded||obligations|||||(20,054)|(19,072)|
|Fair value of plan assets|||||||||13244|~13 592|
||||||||||(6,810)|(5,480)|
|Present value||of unfunded|||obligations||||||
|Deficit|||||||||~6,810)|~5,480)|
|Net liabihty|||||||||~6,810)|~5,480)|
|The amounts||recognised||in|the Statement|of Financial|Activities are as follows:||||
||||||||||Defined|benefit|
||||||||||pension|plans|
||||||||||2020|2019|
||||||||||E'000|E.'000|
|Current service|||cost||||||599|459|
|Net interest|from net defined<br>benefit||||||||||
|asset/liability|||||||||339|426|
|Past service|cost||||||||11|167|
||||||||||949|1,052|
|Actual return|on plan assets||||||||~23)|951|
|Changes<br>in the|||present value ofthe defined|||benefit obligation||are as follows:|||
||||||||||Defined|benefit|
||||||||||pension|plans|
||||||||||2020|2019|
||||||||||E.'000|E'000|
|Opening<br>at 1 september|||||||||19,072|15,403|
|Current service|||cost||||||599|459|
|Past service|cost||||||||11|167|
|Employee<br>contributions|||||||||101|104|
|Interest cost|||||||||339|426|
|Actuarial<br>gains<br>Benefits paid|||||||||447<br>~515)|2,959<br>~446)|
||||||||||20,054|19,072|





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||||||||Defined|benefit|
|---|---|---|---|---|---|---|---|---|
||||||||pension|plans|
||||||||2020|2019|
||||||||L'000|6'000|
|Opening|at 1||september||||13,592|12,602|
|Expected|return|||on assets|||244|353|
|Employer|contributions||||||395|387|
|Employee||contributions|||||101|104|
|Administration||||expenses|||(8)|(6)|
|Actuarial<br>(losses)/gains<br>Benefits paid|||||||(565)<br>~515)|598<br>~446)|
||||||||13,244|13592|
|The amounts|||recognised||in other recognised|gains|and losses are as follows:||
||||||||Defined|benefit|
||||||||pension|plans|
||||||||2020|2019|
||||||||6'000|E'000|
|Actuarial|(losses)/gains||||||(1,012)|~2361)|
||||||||~1,012)|~2,361)|
|The major||categones of|||scheme assets as amounts||oftotal scheme assets are as follows:||
||||||||Defined|benefit|
||||||||pension|plans|
||||||||2020|2019|
||||||||67000|6'000|
|Equities|||||||6,278|7,108|
|Government||Bonds|||||1,947|1,944|
|Other Bonds|||||||1,165<br>'|992|
|Other|||||||2,265|1,930|
|Cash/liquidity|||||||477|435|
|Property|||||||1,112|1,183|
||||||||13,244|13,592|



|Principal|actuarial<br>assumptions|at the Balance Sheet date (expressed as weighted|averages):||
|---|---|---|---|---|
||||2020|2019|
|Discount|rate for scheme<br>liabilities||1,70%|1 60'/|
|Rate of|salary increases||3 65%|335%|
|Increase|in pensions<br>in payment||2 50%|2.20%|
|Inflation|assumption<br>(CPI)||2 40%|2.10%|





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|||Central|Sensitivity|1|Sensitivity|2|Sensitivity|3|Sensitivity|4|
|---|---|---|---|---|---|---|---|---|---|---|
||||+0.1%p.a.||+0 1%p.a.||+0.1%p.a.||1 year<br>increase||
||||discount<br>rate||inflation||pay growth||in life||
|||E'000|E'000||E'000||E'000||expectancy<br>E'000||
|Liabilities||20,054|19,726||20,387||20,088||20,663||
|Assets||(13,244)|(13,244)||(13,244)||(13,244)||(13,244)||
|Deficit||6,810|6,482||7,143||6,844||7,419||
|Prolected|service cost for next year|625|610||640||625||645||
|Projected|net interest cost for next||||||||||
|year||112|113||118||113||123||



|assumed|life expectation|s<br>on retireme|nt<br>age 65are:|||
|---|---|---|---|---|---|
|||||2020|2019|
|Retiring|today|||||
|Males||||224|23.1|
|Females||||25.2|25 9|
|Retiring|in 20 years|||||
|Males||||23.9|253|
|Females||||271|28 3|
|Amounts|for the current|and previous|period are as follows:|||
|||||2020|2019|
|||||E'000|E'000|
|Defined|benefit pension|plans||||
|Present|value of benefit|obligations||20,054|19,072|
|Fair value of plan assets||||(13,244)|(13,592)|
|Deficit||||6,810|5,480|





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