2020-12-31-accounts - Halo Leisure Services Limited

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				Page
Report ofthe Trustees Incorporating		strategic report		1-10
Reference and administrative details		ofthe	Charity,	1-2
Its Trustees and advisors
Structure, governance and management				2-3
Objectives and activities				3-4
Strategic report				5-9
-Achievements and performance				5-6
-Fundralsing
- Financial review				7-8
- Principal risks and uncertainties
-Future plans
-Disabled persons
Statement ofTrustees' Responsibilities				10
Report ofthe Independent	Auditors			11-13
Consolidated Statement	of Financial	Activities		14
(Incorporating an Income	and Expenditure		Account &
Statement ot Other Comprehensive		Income)
Consolidated Balance Sheet				15
Company Balance Sheet				16
Consolidated Cash Flow	Statement			17
Notes to the Consolidated	Cash Flow Statement			18
Notes to the Consolidated	Financial	Statements		19-46

	ALO LEISURE SERVICES LIMITED	ALO LEISURE SERVICES LIMITED	ALO LEISURE SERVICES LIMITED	ALO LEISURE SERVICES LIMITED	ALO LEISURE SERVICES LIMITED	ALO LEISURE SERVICES LIMITED
	CONSOLIDATED STATEMENT OF FINANCIAL						ACTI			ITIES
Incor		oratin	a consolidated Income and Ex			endlt		re	Acco		t	and
		S	tement of Other Com		rehenslve	Income
			for	e Year Ended 31 December		2020
				Unrestricted	Restrkted	FRS		102		s.28		Total Funds	TotalFunds
				Funds	Funds		Unrestrlded					Year to	Year to
									Funds			31.12,2020	31.12.2019
		NOTE		E						6		6	f
INCOME
Donations and legacies					2,488,821							2,488,821	223,332
Income from charilsbie actfvffies:
OpereUon ofLeisure sites			4	7,817,943	59,717							7,877,660	14,059,287
Income from other trading	sctivilies:
Commercial trading operations			5	204,279								204,279	235,317
Investment Income				610								610	4,110
TOTAL INCOME				8,022,832	2,548,538							10,571,370	14,522,046
EXPENDITURE
Costs ofraising funds:
Commercial trading operations			5	113,784								113,784	144,866
Expenditure on charitable	scliviiies:
Leisure adivitles			11	9,268,927	2,446,131			904,000				12,609,058	15,292,390
TOTAL EXPENDITURE				9,372,711	2,446,131			904,000				12,722,842	16,437,256
NET (EXPENDITURE) IINCOME
BEFORETAXATION AND				(1,349,879)	102,407		(904,000)					(2,151,472)	(915,210)
TRANSFERS
TAXATION
Taxation on Irading prohl
GROSS TRANSFERS BETWEEN
FUNDS
NET INCOME BEFOREACTUARIAL (LOSSES)/GAINS UNDER FRS102				(1,349,879)	102,407		(904,000)					(2,151,472)	(915,210)
OTHER RECOGNISED GAINS		AND
LOSSES
Remessuremenls on defined benefit
pension schemes			26				(5,666,000)					(5,666,000)	(1,977,000)
NET INCOME I(EXPENDITURE)				(1,349,879)	102,407		(6,670,000)					(7,817,472)	(2,892,210)
FUNDS BROUGHT FORWARD				337,710	2,332,534		(8,712,000)					(6,041,756)	(3,149,546)
FUNDS CARRIED FORWARD				(1,012,169)	2,434,941	(15,282,000)						(13,859,228)	(6,041,756)

HALO LEISURE SERVICES LIMITED	HALO LEISURE SERVICES LIMITED	HALO LEISURE SERVICES LIMITED
CONSOLIDATED CASH			FLOW STATEMENT
	for	the Year Ended 31 December 2020
				Year to	Year to
				31.12.20	31.12.19
		Notes		2	2
Cash flows from operating activities
Cash generated from operations		1		297,548	1,609,700
Interest paid Interest received				~610	~4110
Net cash from operating activities				~296 938	1~605590
Cash flows from investing activities
Purchase of Intangible fixed assets				(17,730)	(26,833)
Purchase of tangible fixed assets				(88,225)	(1.79,211)
Cash donated to group on business	combination
Proceeds from fixed asset disposal
Interest received				610	4 110
Net cash from investing activities				105345	201 934
Cash flows from financing activities New finance lease agreements In year				19,430
New bank loan				750,000
Hire purchase repayments In year				(221,695)	(298,755)
Interest element of hire purchase and lease payments				~780,704	~580,747
Net cash from financing activities				387 031	879502
Change in cash and cash equivalents		in the reporting	period	578,624	524 154
Cash and cash equivalents at the
beginning ofthe reporting period				1,355,344	831 180
Cash and cash equivalents at the
end ofthe reporting period				1~933968	1 355344

					Year to	Year to
					31.12.20	31.12.19
Net movement In funds					(7,81 7,472)	(2,892,210)
Actuarial (gains)/losses	on defined	benefit	pension schemes		5,666,000	1,977,000
Interest element of hire	purchase/finance		lease payments		543,103	580,747
Depreciation/amortisatlon	charges				771,964	834,959
(Profit)/loss on disposal
Decrease In stocks						6,066
Decrease/(Increase) in	debtors				(170,586)	89,496
Increase/(Decrease) in	creditors				399,540	211,097
Release of deferred capital grants					(22,789)	(25,386)
Newly deferred capital	grants				23,788	22,930
Difference between pension charge, including				finance costs, and cash
contributions					904 000	905 000
Net cash inflow from	operating	activities			297,548	1,609,700
ANALYSIS OF CASH	AND CASH EQUIVALENTS
					Year to	Year to
					31.12.20	31.12.19
					2	2
Cash In hand and at bank					1,933,968	1,355,344
Total cash and cash equivalents					1,933,968	1,355,344

		31.12.2019	Cash	Non-Cash	Changes	31.12.2020
			Flows
				New Finance	Other
				Leases / Bank	non-cash
				Loans	changes
Cash in hand	&	1,355,344	578,624			1,933,968
bank
Debt due within		(378,693)	35,086	(25,000)	(17,055)	(385,662)
one year
Debt due greater		(11,680,647)	347,313	(744,430)	(526,048)	(12,603,812)
than one year		10703996	961,023	~769430	~543.703	~41 055 506

Trust Ltd.
A summary	of the financial	activities undertaken	by the Charitable	Company Is set out	below:
				Year to	Year to
				31.12.20	31.12.19
				2	2
				10,252,523	14,078,682
				))~2345 ~61	~75007 604
				(2,093,138)	(928,922)
				~5666 OOD	)7 077 ODO)
				(7,759,138)	(2,905,922)
Distribution	from subsidiary			80,495	804~1
				~7070 043)	~2.825 471)

DONATIO	NS	AND	LEGAC	IES
					Unrestricted	Restricted	Total funds	Total funds
					funds	funds	Year to	Year to
					31	31	31	31
					December	December	December	December
					2020	2020	2020	2019
						2		2
National	Exercise		Referral	Scheme	(see	173,547	173,547	189,327
note 24)
Coronavlrus		Job Retention		Scheme		2,315,274	2,315,274
Halo Foundation Donations								31,705 ~2300
Total						~2,488 821	~2488 821	223332
INCOME	FROM CHARITABLE ACTIVITIES
					Unrestricted	Restricted	Total funds	Total funds
					funds	funds	Year to	Year to
					31	31	31	31
					December	December	December	December
					2020	2020	2020	2019
					2			2
Operation	of	leisure	centres		5,307,926		5,307,926	12,547,645
Management		fee			1,427,059		1,427,059	1,486,256
Government		grants			22,789	59,717	82,506	25,386
Government		Grants	—COVID 19relief		~1060169		~1060169
Total					7,817,943	~59717	~7,877660	1~4059287

NOTES TO THE	CONSOLIDATED FINANCIAL STATE for the Ye r Ended 31 December 20	CONSOLIDATED FINANCIAL STATE for the Ye r Ended 31 December 20	CONSOLIDATED FINANCIAL STATE for the Ye r Ended 31 December 20	MENTS - continued 0
INCOME FROIIII OTHER	TRADING ACTIVITIES
A summary of the trading	results	of the wholly	owned subsidiary	Halo Leisure Enterprises		Limited ls
shown below:
				Year to		Year to
				31.12.20		31.12.19
				2		2
Turnover Cost ofsales and administration		costs (including	intra-group)	204,279 ~125,7844	235,317 ~1548664
Net profit				80,405		80 451

INVEST	I!IIENT INCOME
		Unrestricted	Restricted	Total funds	Total funds
		funds	funds	Year to	Year to
		31	31	31	31
		December	December	December	December
		2019	2019	2020	2019
			2	2	2
Interest	received	610		610	4110
Total		610		610	~4110

KEY MANAGEMENT PERS	ONNEL
		Year to	Year to
		31.12.20	31,12,19
		6	2
Wages and salaries		6,212,833	6,959,463
Social security costs		435,269	418,053
Other pension costs Redundancy and severance	payments	1,209,238 147986	1,154,903 ~1614
		~8005326	~8,534033

					Year to	Year to
					31.12.20	31.12.19
					2
Equipment repairs, maintenance			and	lease	72,458	187,773
Depreciation -	owned assets				319,865	328,981
Depreciation -	assets on	hire purchase		contracts or finance leases	432,891	496,325
Computer software amortlsation					19,208	9,654
Auditors remuneration					22,673	17,000
Audit of trading	subsidiary				4,738	4,600
Non audit work	—statutory	accounts preparation			~4120	4,000

INTERE	ST P	AYA	BLE	AND SIM	ILAR CHARGES
						Year to	Year to
						31.12.20	31.12.19
Finance	lease	and	hire	purchase	interest	~543 103	580,747
						~543 103	580,747

RESOURCE	S EXPE	NDED ON CH	ARI	TABL	E ACTIV	I'TIES
							Support Total	for	Total for
				Direct	costs	Staff costs	costs Year	to	Year to
							31.12.20		31.12.19
					2				F
Leisure centres				1 614154		7~9 I 793	3023 111 ~1260	06~	~92390
Major components		ofSupport Costs
							Year to		Year to
							31.12.20		31.12.19
									2
Premises Costs							508,689		1,173,722
Advertising	& Promotions						35,708		76,657
Office Administration							204,838		214,639
Finance and	Compliance						624,634		738,217
Other Finance Costs re FRS102							672,000		190,000
Irrecoverable	VAT						329,585		663,181
Equipment Repairs,		Maintenance	and	I ease			72,458		187,773
Other Costs							548,406		654,940
Governance	Costs						26793		21 000
							3,023,111		3,921,743

				Unrestricted	Restricted	Total funds
				fund	funds
				2	2
INCOME FROM
Donations and legacies				34,005	189,327	223,332
Income from charitable activities
Operation of leisure	and recreation sites			14,059,287		14,059,287
Income from other	trading	activities
Commercial trading	operations			235,317		235,317
Investment Income				4,110		4,110
Total Income				14,332,719	189,327	14,522,046
EXPENDITURE ON
Cost ofraising funds
Commercial trading	operations			144,866		144,866
Expenditure on charitable activities Operation of leisure and recreation sites				1~521I 541	~80849	1~5292390
Total expenditure				15,356,407	80,849	15,437,256
NET INCOME				(1,023,688)	108,478	(915.210)
Transfers between	funds
Other recognised	gains/(losses)
Actuarial gains/losses on defined			benefit schemes	~1977000)		1 977000
Net movement In funds				(3,000,688)	108,478	(2,892,210)
RECONCILIATION	OF FUNDS
Total funds brought	forward			(5,373,602)	2,224,056	(3,149,546)
TOTAL FUNDS CARRIED		FORWARD		~8374 290)	~2332,534	~6,041,756)

INTANGIBL	E FIXED ASSETS
Group
		Computer
		software
COST
At 1 January	2020	96,493
Additions		~17730
At 31 Decembe'r 2020		t~t4 223
AIIIIORTISATION
At 1 January	2020	64,984
Amortisation	for year	~19208
At 31 December 2020		~84 192
NET BOOK	VALUE
At 31 December 2020		~30 031
At 31 December 2019		31,509
Company
		Computer
		software
		2
COST
At 1 January	2020	9,633
Additions		17,730
At 31 December 2020		27,363
AlillORTISATION
At 1 January	2020	1,070
Amortisatlon	for year	9,121
At 31 December 2020		~10191
NET BOOK	VALUE
At 31 December 2020		~17 172
At 31 December 2019		8563

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	Class of shares				holding
	Ordinary				100,00
						31.12.20		31.12.19
						2
	Aggregate capital and reserves					1		1
	Subsidiary
	Severn Centre Trust Ltd
	Nature ofbusiness: Provision	of leisure	facilities
	Class ofshares:				holding
	Ordinary				100.00
						31.12.20		31.12.19
						2
	Aggregate funds					2 440 604	2	462,244
16.	STOCKS
			Group 31.12.20 31.12.19			Company 31.1220		31.12.19
	Stocks		~34 583		~34 583	34,583		~34 583
17.	DEBTORS:AMOUNTS FALLING DUE		WITHIN	ONE YEAR
					Group	Company
			31.12.20		31.12.19	31.12.20		31.12.19
				2	p
	Trade debtors			105,172	457,763	52,590		419,250
	Amounts owed by group undertakings					181,057		248,789
	Other debtors			1,444	5,788	1,444		5,788
	Prepayments and accrued income			6~27 065	~99544	612,886		~99544
				733,681	563,095	847,977		773371

										Group	Group	Company	Company
									31.12.20		31,12.19	31.12.20	31.12.19
												8	2
Finance	leases	8 hire purchase					(note 20)		360,662		378,693	360,662	378,693
Trade creditors									477,120		385,069	463,458	371,008
Other creditors									159,357		106,150	158,808	105,602
Other Taxes and			PAYE						506,662		187,088	468,712	165,557
Accruals									888,702		615,818	870,120	595,185
Deferred income Bankloans									500,680 ~25 000		838,855	491,155 ~25 000	830,423
									~2,918183		~2,511 673	~2837915	~2446,468
										Group		Company
Deferred	income		(excluding		capital			grants)	31.12.20		31.12.19	31.12.20	31.12.19
											2	2	2
Deferred	income		at	1 January		2020			838,855		643,858	830,423	633,580
Resources deferred 6 t I N f				In the p	year I		p	I&	500,680 ~838,855		838,855 ~643,858	491,155 ~830,423	830,423 ~633580
D 13 &	I		t3t ~			0	2020		50tl68	~	838855	491155	830423

					Group		Company	Company
				31.12.20		31.12.19	31,12.20	31.12.19
				2		2		2
Finance leases & hire purchase			(note 20)	11,878,812		11,680,647	11,878,812	11,680,647
Bank loans				~725 000			725,000
				12,603,812		11,680,647	1~2603812	1~1,680647
FINANCE LEASES AND		HIRE	PURCHASE
An analysis	of the maturity	offinance lease		and hire purchase		agreements	is given below:
					Group		Company
				31.12.20		31.12.19	31.12.20	31.12.19
						2		2
Due in less than 1 year				360,662		378,693	360,662	378,693
Due between	1-2years			382,919		360,326	382,919	360,326
Due between	2-5 years			1,043,022		1,114,760	1,043,022	1,114,760
Due in more	than 5years			10,452,871	10,205,561		10,452,871	10,205,561
				'12239474	12059340		12239474	12059 34tl

Total future minimum lease payme	nts under non-cancellable	operating lea	ses are as follows	:
Group and company			Other
	Land and		operating
	buildings		leases
	31.12.20	31.12.19	31.12.20	31.12.19
	2
Payments falling due:
Within one year
DEFERRED INCOME
	Group		Company
	31.12.20	31.12.19	31.12.20	31.12.19
		8	2
Deferred capital grants	155,466	154467	1~55466	1~54467

RECONCI	LIATION OF M	OVEMENTS IN FUNDS
Group
			Unrestricted	Restricted
			Funds	Funds	Totals
					2
At 1 January 2020			(8,374,290)	2,332,534	(6,041,756)
Incoming	resources		8,022,832	2,548,538	10,571,370
Outgoing	resources		(10,276,71'I)	(2,446,131)	(12,722,842)
Actuarial	gains on defined	benefit schemes	(5,666,000)		(5,666,000)
At 31 December 2020			((~5294,(59	243494'I	(I~I3859 228
Company
			Unrestricted	Restricted
			Funds	Funds	Totals
			2	2
At 1 January 2020			(8,378,020)	167,324	(8,210,696)
Incoming	resources		7,757,250	2,548,538	10,305,788
Outgoing	resources		(10,011,640)	(2,387,286)	(12,398,926)
Actuarial	gains on defined	benefit schemes	(5,666,000)		(5,666,000)
At 31 December 2020			((~8298416	328516	((~5969834

Restricted	Funds	—Group
							At 31
			At1 January	Incoming	Outgoing		December
			2020	Resources	Resources	Transfers	2020
					F	f	f
NERB scheme			167,324	173,547	(12,295)		328,576
Sevem Centre Building		Fund	2,165,210		(58,845)		2,106,365
Job retention	scheme			2,315,274	(2,315,274)
Employment	allowance			4,000	(4,000)
SMP reclaimed				55,717	(55,717
Total			2,332,534	2,548,538	2,446,131		2,434,941
estricted	Funds —Company
							At 31
			At1 January	Incoming	Outgoing		December
			2020	Resources	Resources	Transfers	2020
			f	f	f	f	f
NERS scheme			167,324	173,547	(12,295)		328,576
Job retention	scheme			2,315,274	(2,315,274)
Employment	allowance			4,000	(4,000)
SMP redaimed				55,717	(55,717)
Total			167,324	2,548,538	2,387,286		328,576

							At 31
		At 1 January		Incoming	Outgoing	Gains, losses,	December
			2020	Resources	Resources	&transfers	2020
			f	f	f	f
Designated	funds:
Bddgend County BC			595,744		(103,271)	(492,473)
Brldgend County BC- ulilibes			15,043			15,043
Total designated			610,787		(103,271)	(507,516)
Unrestricted	pension	(8,712,000)			904,000	(5,666,000)	(15,282,000)
Unrestricted	general	(273,077)		8,022,832	(9,269,440)	507,516	(1,012,169)
Total unrestricted		(8,374,290)		8,022,832	(10,276,711)	(5,666,000)	(16,294,169)

Unrestricte	d Funds —Com	pany
						At 31
		A(1 January	Incoming	Outgoing	Gains, bases,	December
		2020	Resources	Resources	&transfers	2020
		f	f	f	f	f
Designefed	funds:
Bridgsnd County BC		595,744		(103,271)	(492,473)
Bridgend County BC - uUliUes		15,043			15,043
Total designated		610,787		(103,271)	(507,516)
Unrestricted	pension	(8,712,000)		(904,000)	(5,866,000)	(15,282,000)
Unrestricted	general	(276,807)	7,757,250	(9,M4,369)	507,516	(1,016,410)
Total unrestricted		8,378,020)	7,757,250	(10,011,640	(5,666,000	(16,298,410)

CO8IIPAR	ATIVE YEAR M	OVEMENTS IN FUNDS
Group
			Unrestricted	Restricted
			Funds	Funds	Totals
At 1 January 2019			(5,373,602)	2,224,056	(3,149,546)
Incoming	resources		14,332,719	189,327	14,522,046
Outgoing	resources		(15,356,407	(80,849)	(15,437,256)
Actuarial	gains on defined	benefit schemes	(1,977,000)		(1,977,000)
At 31 December 2019			~8374290	2332534	6 041 756
Company
			Unrestricted	Restricted
			Funds	Funds	Totals
					F
At 1 January 2019			(5,385,225)		(5,385,225)
Incoming	resources		13,969,806	189,327	14,159,133
Outgoing	resources		(14,985,601)	(22,003)	(15,007,604)
Actuadal	gains on defined	benefit schemes	(1,977,000)		(1,977,000)
At 31 December 2019			~8378 020	167,324	~8210696
Restricted Funds —Group

Restricted Funds —Group
					At 31
	At 1 January	Incoming	Outgcbtg		December
	2019	Resources	Resources	Transfers	2019
	E	E	E
NERS scheme		189,327	(22,003)		167,324
Bevsm Centre Building Fund	2,224,056		58,846)		2,165,210
Total	2,224,056	189,327	(80,849		2,332,534
Restricted Funds —Company
					At 31
	At 1 January	Incoming	Outgoing		December
	2019	Resources	Resources	Transfers	2019
	E	E	E	E	E
NERS scheme		189,327	(22,003)		167,324
Total		189,327	22,003)		167,324

						At 31
		At 1 January	Incoming	Outgoing	Gains, losses,	December
		2019	Resources	Resources	&transfers	2019
		f	f	f		f
Designated funds:
Halo Foundation			31,705	(38,551)	6,846
Brklgnorth Endowed	School	(85,207)	57,052		28,155
Brldgend County BC		699,015		(103,271)		595,744
Bridgend County BC	- utiliTies	15,043				15043
Total designated		628,851	88,757	(141,822)	35,001	610,787
Unresbicted pension		(5,930,000)		(805,000)	(1,977,000)	(8,712,000)
Unrestricted general		72,453	14,243,962	(14,409,585)	(35,001)	(273,078)
Total unrestricted		5,373,602	14,332,719	(15,356,407	1,977,000	8,374,290)
nrestricted Funds —Company
						At 31
		At 1 January	Incoming	Outgoing	Gains, losses,	December
		2019	Resources	Resources	&lransfers	2019
		f	f	f	f	f
Dssignsled funds:
Halo Foundation			31,705	(38,551)	8,846
Bridgnorth Endowed	School	(85,207)	57,052		28,155
Bridgsnd County BC		699,015		(103,271)		595,744
Brldgsnd County BC	- uglllies	I5,043				15,043
Total designated		628,851	88,757	(141,822)	35,001	610,787
Unrestricted pension		(5,930,000)		(805,000)	(1,977,000)	(8,712,000)
Unrestricted general		(84,076)	13,881,049	(14,038,779)	(35,001)	(276,807)
Total unrestricted		5,385,225	13,969,806	14,985,601	1,977,000	8,378,020

			Defined	benefit
			pension	plans
			31,12.20	31.12.19
Present value offunded	obligations		(41,627,000)	(32,768,000)
Fair value of plan assets			2~6345 000	2~4056 000
			(15,282,000)	(8,712,000)
Present value of unfunded		obligations
Deficit			(7~6202 110tl	~8772 00tl

The amounts recognised in t	he Statement of Financial Activiti	es are as follows:
		Defined	benefit
		pension	plans
		31.12.20	31.12.19
Current service cost		877,000	700,000
Past service cost		189,000	292,000
Net Interest from net defined	benefit asset/liability	177,000	184,000
Administration expenses		6,000	6,000
Effect of curtailments
		~1249000	~tf 82 000
Actual return on plan assets		2~135,000	~3024 000

Changes	ln t	he p	resent	value of the defined benefit ob	ligation are as follows:
					Defined	benefit
					pension	plans
					31.12.20	31,12.19
					2	2
Opening	defined		benefit	obligation	32,768,000	26,414,000
Current	service cost				877,000	700,000
Past service		cost			189,000	292,000
Contributions		by	scheme	participants	139,000	156,000
Interest	cost				672,000	791,000
Remeasurement			(gains)	/ losses	7,306,000	4,744,000
Curtailments
Benefits	paid				~324,000	~323,000
					41.627 000	32 768 Doo

Changes in the	fair value	of scheme assets are	as follows:
				Defined	benefit
				pension	plans
				31.12.20	31.12.19
				2	2
Opening fair value of scheme assets				24,056,000	20,484,000
Interest on plan	assets			495,000	607,000
Contributions by employer				345,000	377,000
Contributions by scheme		participants		139,000	156,000
Remeasurement	gains / (losses)			1,640,000	2,767,000
Administration Benefits paid	expenses			(6,000) (6,000) ~324000 ~323000
				26345000	24056000
The amounts recognised		in other comprehensive	income are as follows:
				31.12.20	31,12.19
Remeasurement	gains/(losses)			(5~666,000	~1977,000)
Cumulative amount of actuarial
remeasurement	losses			(~9936,000)	~4270 000)

The maj	or ca	tegori	es of schem	e assets as a percentage of total	scheme assets are as f	scheme assets are as f	ollows:
					Defined		benefit
					pension		plans
					31.12.20		31.12.19
Equities					64.27%		63.40%
Government		bonds			5.53%		12.80%
CasMiquidity					060%		073%
Otherbonds					13.34%		6.43%
Property					5.63%		6.00%
Other					10.63%		10.64%
					10000%		10000%
Principal	actuarial		assumptions	at the balance sheet date:
					31.12.20		31.12.19
Discount	rate				1.40 —1.50%	2.00 —2.10%
Rate of	Inflation				2.30%		2.10%
Future salary		Increases			3.55 —3.80%	3.35 - 3.60%
Future pension increases					2.30 —2.40%	2.10 - 2.20%

Worcestershire County	Cou	n	cil Pension F	und	:	:
			Central		+0.1%discount		+0.1%inflation		1 yearincrease
						rate			in life
									expectancy
									2
Liabilities			22,671,000			22,132,000		23,223,000	23,352,000
Assets		(11,098,000)			(11,098,000)			(11,098,000)	(11,098,000)
Deficit/(surplus)			11,573,000			11,034,000		12,125,000	11,461,000
Projected service			498,000			485,000		512,000	498,000
costfor next year
Projected interest			171,000			174,000		180,000	181,000
cost for next year
'The following table sets	out	the sensitivity		analysis		produced by the actuary reporting			in respect ofthe
Rhondda Cynon Taf County			Borough Council		Pension Fund:
						+0.1%p.a.		Base figure	-0.1%p.a.
Adjustment lo discount	rate
Present value of total obligation (2)						16,747,000		17,212,000	17,694,000
%change in present value			of total obligation				2 7%		2.8%
Projected service cost Approximate %change	(2) In	projected service			cost	552,000 -3.4%		571,000	591,000 3.5%
Adjustment lo salary increase rate
Present value oftotal obligation (2)						17,264,000		17,212,000	17,160,000
%change in present value			of total obligation				0.3%		-0,3%
ProJected service cost Approximate% change	(2) In	projected service			cost	571,000 0 0'/		571,000	571,000 0.0%
Adjustment iopension	increase rale
Present value of total obligation (2)						17,642,000		17,212,000	16,799,000
%change in present value			of total obligation				25%		-2.4%
Projected service cost Approximate %change	(f) ln	projected service			cost	591,000 3,5%		571,000	552,000 -3.4%
						-1	year	Base figure	+1 year
Adjustment lo morrallly	age		rating assumption
Present value of total obligation (2) %change in present value of total obligation						17,849,000 3.7%		17,212,000	16,575,000 -3.7%
ProJected service oost Approximate %change	(2) in	projected service			cost	594,000 4.1%		571,000	548,000 -4 Oo/
The following table sets	out	the sensitivity		analysis		produced by the		actuary reporting	in respect of the
Shropshire County Pension		Fund:
			Central		+0.1%discount		+0.1%inflation		1 year increase
						rate			in life
									expectancy
						2			2
Liabilities			1,744,000			1,712,000		1,778,000	1,796,000
Assets			(1,074,000)			(1,074,000)		(1,074,000)	( L074,000)
Deficit/(surplus)			670,000			638,000		678,000	722,000
Projected service			59,000			58,000		61,000	61,000
costfor next year
Projected Interest			9,000			9,000		10,000	10,000
cost for next year