## |||||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|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| |||||||N
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Ql0|| ## ## ## ## ## ||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|||||||||| ## ## ## ## ## ## ## ## ## ##