2021-12-31-accounts - Halo Leisure Services Limited

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			Page
Report ofthe Trustees incorporatirig	strategic report		1-8
'Reference and administrative details ofthe		Chaiity,
ite Trusteee and advisOrs
Structure, gOVernanCe and management
Objectives and activities
Strategic report			4-7
-Achievements and performance
-Fundraising
- Finan'cial review			4-6
-Principal risks and uncertainties
-Future plans
-. Disabled persons
Statement ofTrustees' Responsibilities
Report ofthe Independent Auditors			9-1'I
'Consolidated Statement of Financial	Activities		12
(incorporating an Income and Expenditure		Account 8
Statement ofOther Comprehensive	income)
Consolidated Balance Sheet			13
Company Balance Sheet			14
Consolidated Cash Flaw Statement
Notes to the Consolidated Cash Flow Statement			16
Notes to the Consolidated Financial	Statements		17-43

HALO	HALO	HALO	LEISURE SERV	ICES LIMITED	ICES LIMITED	ICES LIMITED
CONSOLIDATED			STATEMENT	OF FINANCIAL ACTIVITIES
Incor oratin	a consolidated Income and Ex enditure					Account	and
Statement ofOther'Com		rehenslve Income		for the Year Ended 31December 2021
			Unrestricted	Restricted	FRS 102s.28		Total Funds	Total Funds
			Funds	Funds	Unrestricted		Year to	Year to
						Funds	31.12,2021	31.12.2020
	NOTE
INCOME
Donations and legacies				2,348,327			2,348,327	2,488,821
'
Income from charitable activities.
Operation of Leisure sites			9,243,420				9,243,420	7,877,660
Income from other trading activities. '
Commercial trading operations,	5		180,773				180,773	204,279
Investment income								610
Other income			1,176,039				1,176,039
TOTAL INCOME			10,600,232	2,348,327			12,948,559	10,571,370
EXPENDITURE
Costs ofraising funds.
Commercial trading operations	5		49,447				49,447	113,784
Expenditure on charitable activities:
Leisure activities	12		10,518,348	1,704,039	882,000		13,104,387	12,609,058
TOTAL EXPENDITURE			10,567,795	1,704,039	882,000		13,153,834	12,722,842
NET (EXPENDITURE) IINCOME
BEFORETAXATION AND			32,437	644,288	(882,000)		(205,275}	(2,151,472)
TRANSFERS
TAXATION
Taxation on trading profit
GROSS TRANSFERS BETWEEN
FUNDS
NET INCOME BEFOREACTUARIAL (LOSSES)/GAINS UNDER FRS102			32,437	644,288	(882,000)		(205,275)	(2,151,472)
OTHER RECOGNISED GAINS AND
LOSSES
Remaasurements on defined benefit
pension schemes	27				3,458,000		3,458,000	(5,666,000)
NET INCOME / (EXPENDITURE)			32,437	644,288	2,576,000		3,252,725	i7,817,472i
FUNDS BROUGHT FORWARD			(1,012,169)	2,434,941	(15,282,000)		(13,859,228)	(6,041,756)
FUNDS CARRIED FORWARD			,(979,732)	3,079,229	(12,706,000)		(10,606,503)	(13,859,228)

HALO LEISURE SER	VICES LIIN TED	VICES LIIN TED	VICES LIIN TED	Registered	Registered	Charity number: 10915
	CONSOLIDATED			BALANCE SHEET
		31	December 2021
				31.12.21		31.12.20
		Notes			F
FIXEDASSETS
Intangible assets . Tangible assets		14 15		12,821 13702,661		30,031 14,367,970
				13„715,482		14,398,001
CURRFNT ASSETS
Stocks		17		34,368		347583
Debtors		18		503,479		733,681
Cash at bank and in hand			3,441,926		1	933,968
			3,979,773		2,702,232
CREDITORS
Amounts falling due within any year		19	2,921,923		2,918,183
NET CURRENT LIABILITIES				1,057,850		~215,951
TOTAL ASSETSLESSCURRENT
I IABILITIES				14,773,332		14,182,050
CREDITORS
Amounts falling due after more than
one year		20		(12,544,260)		(12,603,812)
DEFERRED INCOINE					(129,575)	(155,466)
NET ASSETS BEFORE PENSION		LIABILITY		2,099,497		1,422,772
PENSION LIABILITY				12,706,000		15,282,000
FUNDS
Unrestricted income funds		25	(13,685,732)		(16,294;169)
Unrestricted designated Restricted funds	funds	25 25	8	079 229	2,434 941
TOTAL FUNDS		25		(1~Q,606,503		: (1~3,859,228
				2,099,497		1,422,772
ON B HALF OF THE	BOARD'
J,Curtis - Chairma				N A	Sellar -Trustee
J8 Huxley - Company	Secreta@

HALO LEISURE	SER	VI	CES LIMIT	ED	ED	ED	R	R	egistere	d Charity number: 1091543
				COMPANY BALANCE			SHEET
				31	December	2021
						31.12.21				31.12.20
				Notes	E					F
FIXEDASSETS
Intangible assets				14					8,051	17,172
Tangible assets '				15			11,642,901			12,254,850
Investments				16					1	1
							11,650,953			12,272,023
CURRENT ASSETS
Stocks				17	34,368					34,583
Debtors				18	617,998					847,977
Cash at bank and	in hand				3,183,103					1,754,776
					3,835,469					2,637,336
CREDITORS
Amounts falling due within one year				19	2,826,079					2,837,916.
NET CURRENT LIABILITIES							1,009,390			~200,679
TOTAL ASSETS	LESS		CURRENT
LIABILITIES							12,660,343			12,071,444
CREDITORS
Amounts falling due after more than				20			(12,544,260)			(12,603,812)
one year
DEFERRED INCOME				24				(129,575)		(155,466)
NET ASSETSBEFORE			PENSION	LIABILITY				13,492		687,834
PENSION LIABILITY				27			12,706,000			15,282,000
FUNDS
Unrestricted income funds				25	(13,751,202)					(16,298,410)
Unrestricted designated			tunds	25
Restricted funds				25	1,031,710					328 576
TOTAL FUNDS				25			(1~2,719 492			(1~5,989,834
								13,492		~687,834
ON BEHAL OF THE		BOARD:
Urtls-	an						N A	Sellar - Trustee
J8 Huxley ompany		Secretary

HALO LEISURE SERVICES LIMITED	HALO LEISURE SERVICES LIMITED	HALO LEISURE SERVICES LIMITED
CONSOLIDATED CASH			FLOW STATEMENT
for'the		Year Ended 31December 2021
				Year to	Year to
				31.12.21	31.12.20
	Notes			E	E
Cash flows from operating activities Cash generated from operations				1,950,559	297,548
Interest paid Interest received					~610
Net cash from operatirig activities				1 950,559	296,938
Cash flows from investing activities Purchase of intangible fixed assets					(17,730)
Purchase oftangible fixed assets				(3'i,547)	(88,225)
Cash donated to group an business combination
Proceeds from fixed asset disposal Interest received					610
'Net cash from investing activities				31,647	105,345
Cash flows from financing activities New finance lease agreements in year New bank loan					19,430 750,000
Repayment of bank loans Hire purchase repayments in year Interest element of hire purchase and	lease payments			(25,000) (223,911) ~162,143	(221,695) ~160,704
Net cash from financing activities				411,054	387,031
Change in cash and cash equivalents'In		the reporting	period	1,607,958	578,624
Cash and cash equivalents at the beginning ofthe reporting period				1,933,968	1,355,344
Cash and cash equivalents at the end ofthe reporting period				3,441 926	1,933,968

						Year to	Year to
						31.12,21	31.12.20
						E	E
Net movement in funds						3;252,725	(7,817,472)
Actuarial (gains)/losses	on defined		benefit	pension schemes		(3,450,000)	5,666,000
Interest element of hire purchase/finance				lease payments		500,727	543,103
Depreciation/amortisation	charges					713,792	771,964
(Profit)/loss on disposal						274
Decrease in stocks						215
Decrease/(Increase) in	debtors					230„202	(170,586)
Increase/(Decrease) in	creditors					(145,485)	399,540
Movement in deferred	capital grants					(25,891)	(2,456)
Difference between pension charge,			including		finance costs, and cash
contributions						882 000	904 000
Net cash inflow from	operating	activities				1,950,559	297,548
ANALYSIS OF CASH	AND CASH		EQUIVALENTS
						Year to	Year to
						31..12.21	31.12.20
						E	F
Cash in hand and at bank						3,441,926	1,933,968
Total cash and cash equivalents						3,441,926	1,933,968

			31.12.2020	. Cash	Non-Cash	Changes	31.12.2021
				Flows
					New Finance	Other
					Leases / Bank	non-cash
					Loans	changes
Cash	in hand	&	1,933,968	1,507,958			3,441,926'
bank	,
Debt	due within		(385,662)	25,000		(174,225)	(534,887)
one year
Debt	due greater		(12,603,812)	386,054		(326,502)	(12,544,260)
than	one year
			11,055 506	1 919,012

Trust Ltd.	Trust Ltd.	Trust Ltd.
A summary ofthe financial			activities undertaken			by the Charitable		Company is set out below: Year, to Year to
									31,12.21 '		31.12.20
											P
Incoming resources excluding gift aid Expenditure on charitabie activities					from subsidiary			12,546,421 10,252,523 (12,881,165) (12.345,66'I)
Net (expenditure)/income Actuarial (losses)lgains on			defined benefit pension schemes					3	(334,744) 458,000		.(2,093,138) ~5,666 000)
								3,123,256			(7,759;138)
Distribution from subsidiary.									127,084		60495
								3	260,340		~7,678,643)
DONATIONS	AND	LEGACIES
					Unrestricted		Restricted			Total funds	Total funds
						funds		funds		Year to	Year to
						31		31		31	31
						December	December			December	Decembet
						2021		2021		2021	2020
						E					F
National Exercise		Referral		Scheme	(see		160,810			160,810	173,547
note 25) Coronavirus	Job Retention		Scheme				1,072,361			1,072,361	,2,315,274
National Leisure Recovery Asset improvement Grant Other project grants			Fund - Pencoed				560,741 129,860 424 565			560,741 129,850 424,565
Total							2 348;327			2348,327	2,488,821
INCOME FROM CHARITABLE ACTIVITIES
					Unrestricted		Restricted			Total funds	Total funds
						funds		funds		Year to	Year to
						31		31		31	31
						December	December			December	December
						2021		2021		2021	2020
						E		P.			E
Operation of leisure centres Management fee Government grants Local Authority Contracts -				COVID	19	6,747,436 1,278,952 52,987 1,164,045				6,747,436 1,278,952 52,987 1,164,045	5,307,926 1,427,059 82,506 1,060,169
relief
Total						9243,420				9,243420	7,877,660

A summary o shown below:	f the tradin	g results	of the wholly o	wned subsidi	ary Halo L	eisure Enterp	rises Limited i
						Year to	Year to
						31.12,21	31,12.20
						F	F
Turnover Cost ofsales	and administration		costs (including	intra-group)	186,533 ~69,447)		204,279 ~123,764)
Net profit						127,094	90496
The subsidiary	company	has gift	aided its profits	to the parent	Charitable	Company.

INVEST	MENT INCOME
		Unrestricted	Restricted	Total funds	Total funds
		funds	funds	Year to	Year to
		31	31	31	31
		December	December	December	December
		2021	2021	2021	2020
			F		F.
Interest	received				610
Total					610
OTHER INCOME
		Unrestricted	Restricted	Total funds	Total funds
		funds	funds	Year to	Year to
		31	31	31	31
		December	December	December	December
		2021	2021	2021	2020
		E	F	E
Insurance	claim	1 176,039		1 176039
Total		1,176,039		1,176,039

KEY MANAGEMENT PERS	ONNEL
		Year to	Year to
		31.12.21	31,12.20
			F
Wages and salaries Social security costs Other pension costs Redundancy and severance	payments	5,490,069 '380,198 1,129,15Q 21,'270	6,212,833 435,269 1,209,238 147886
		7,020,687	8,005,326

The average	monthly	d was as follows
		Year to	Year to
		31.12.21	31.12.20
Leisure Centres		406	537
Support Management	and administration	46 4	47 4
		456	588

The average	monthly	the period was as follows: Year to Year to	the period was as follows: Year to Year to
		31.12.21	31.12.20
Leisure Centres		189	214
Support Management	and administration	40 4	4Q 4
		233	'258

The net income is stated after ch	arging:
						Year to	Year to
						31.12.21	31.12.20
						E	E
Equipment repairs, maintenance and lease Depreciation -owned assets Depreciation —assets on hire purchase contracts or Computer software amortisation Auditors remuneration				finance leases		88,979 314,247 382,335 17,210 23,000	72,458 319,86'5 ' 432,891 19,208 22,673
Audit oftrading subSidiary Non aUdit work —statutory accounts preparation						6,072 5775	4,738 4,120
INTEREST PAYABLE AND SIMILAR		CHARGES
						Year to	Year.to
						31.12.21	31.12,20
							E
Finance lease and hire purchase	interest					500727	543 103
						500,727	543,103
RESOURCES EXPENDED ON CHARITABLE ACTIVITIES
					Support	Total for	Total for
		Direct	costs	Staff costs	costs	Year to	Year to
						31,12,21	31.12.20
			E	E	E	E	E
Leisure centres		2439158		7014702	3650527 13104387 12609058
Major components ofSupport	Costs
						Year to	Year to
						31.12.21,	31.12,20
						E	E
Premises Costs					1,3038052		508,689
Advertising 5 Promotions Office Aclministration						24,428 213,115	35,708 204,838
Finance and Compliance Other Finance Costs re FRS 102						5870703 224,ooo	624,634 672,00Q
Irrecoverable VAT						527,357	329,585
Equipment Repairs, Maintenance Other Costs	and	Lease				88,979 658,893	72,458 548,406
Governance Costs						23,000	26,793
					3,650,527		3,023,111 .

	for the Year Ended 31 Decembe	for the Year Ended 31 Decembe	for the Year Ended 31 Decembe	r 2021
13.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL			ACTIVITIES
			Unrestricted		Restricted	Total funds
				fund	funds
						F
	INCOME FROM
	Donations and legacies				2,488,821	2,488,821
	Iricome from charitable activities
	Operation of leisure and recreation.		sites	7,817,943	59,717	7,877,660
	income from other trading activities Commercial trading, operations			204,279		204,279
	Investment income			610		610
	Total income			8,022,832	2,548,538	10,571,370
	EXPENDITURE ON
	Cost ofraising funds Commercial trading operations			113,784		113,784
	Expenditure on charitable activities Operation of leisure and recreation		sites	10,162,927	2,446,131	12,609,058
	Total expenditure			10,276,711	2,446,131	12,722,842
	NET INCOME			(2,253,879)	102,407	(2,151,472)
	Transfers between funds
	Other recognised'gains/(losses) Actuarial gains/losses on defined	benefit schemes		(5,666,000)	-	(5,666,000)
	Net movement In funds			(7,919,879)	102,407	(7,817,472)
	RECONCILIATION OF FUNDS
	Total funds brought forward			(8,3748290)	2,332,534	(6,041,756)
	TOTAL FUNDS CARRIED FORWARD			(16,294,189)	2,434 941	(13;859,228)

INTANGIBLE FIXEDASSETS
Group
	Computer
	software
COST
At 1 January'2021	114,223
Additions
At 31 December 2021	114,223
AMORTISATION
At 1 January 202'I	84,192
Amortisation for year	17,210
At 31 December 2021	101,2I02
NET BOOK VALUE
At 31 December 2021	12621
At 31 December 2020	30,631
Company
	Computer
	software
COST
At 1 January 2021	27,363
Additions
At 31 December 2021	27,363
AMORTISATION
At 1 January. 2023	10,191
Amortisation for year	9,121
At 31 December 2021	19,312
NET BOOK VALUE
At 31 December, 2021	6,661
At 31 December 2020	17172.	,

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LUO UI III UI D0) ILI 0			Ci m0	'O C 0 O I C K E0V	O LDO OC 8 V) gJ0 LDX U				M 0' V	cv O m m &	CL VI h g C Q ' 0 o Lo ~~ C I N m 0 v- to ~ C o mmLD & I- 0"			CL N ',I O (LI CI T Z	z cv O~ m ~ m UJCiao		a I 0 ~' ~m Cm I-	0 8 'u) (a m O CL	N CL 8 LLlQ	~ E 08 III0 ~m T CO zZ		C) I E 8 Ci Z

	Subsidiary
	Halo Leisure Enterprises			Limited
	Nature ofbusiness:	Consultancy			and asset management
	Class ofshares						holding
	Ordinary						100.00	31.12.21	31.12.20 E'
	Aggregate capital and reserves							1	1,
	Subsidiary
	Severn Centre Trust Ltd
	Nature ofbusiness:	Provision of			leisure facilities
	Class ofshares;						holding
	Ordinary						100.00	31.12.2]	31,1220
	Aggregate funds							2,112,989	2,110,604
17,	STOCKS					Group 31.12.21 31.12,20		Company 31.12.21 31.12.20 '
						F			E
	Stocks					34,368	34,583	34,368	34,583
18.	DEBTORS: AMOUNTS		FALLING DUE			WITHIN ONE YEAR
						31.12.21	Group 31.12.20	Company' 31,12.21 31.12,20
						E	F	E
	Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income					169,816 22,633 311,030	105,172 1,444 627,065	176,600 131,392 22,633 287,373	52,590 181,057 1,444 612,886
						503,479	733,681	617,998	847,977

					Group	Group	Company	Company
					31,12.21	31,12.20	31,12.21		31,12.20
Finance	leases &	hire purchase		(note 21)	384,887	360,662	384,887		360,662
Trade creditors					972,970	477,120	941,147		463,458
Other creditors					80,857	159,357	80,308		158,808
Other Taxes and PAYE					280,374	506,662	253,504		468,712
Accruals					800,618	888,702	773,149		870,120
Deferred	income				252,317	500,680	243,084		491,155
Bank loans					150,000	25,000	150,000		25000
					2,921,923	2 918 183	2,826,079	2	837915
					Group		Company
Deferred	income (excluding		capital grants)		31.12.21	31.12.20	31.12.21		31.12.20
					F
Deferred	income at 1 January 2021				500,680	838,855	491,155		830,423
Resources deferred Amounts released		in the year from previous		periods	252,317 (500,680)	500,680 ~838,855	243,084 (491,155)	491',155 ~830,423
Deferred	income at 31 December			2021	252,317	50D,680	243,D84		491,155

				group		Company	Company
			31.12.21		31.12,20	31,12.21	81,12,20
			F				F
Finance leases & hire pur(;hase		(note 21)	11,969,260		11,878,812	118969,260	11,878,812
Bank loans			575,000		725,000	575 000	725,DDD
			12,544,260		12,6D3,812	12,544,260	12,603,812
FINANCE LEASES AND HIRE		PURCHASE
An analysis	ofthe maturity offinance lease		and hire purchase		agreements	ls given below;
				Group		Company
			31.12.21		31.12.20	31.12,21	31,12,20
					F	F
Due in less than 1 year			384,887		360,662	384,887	360,662
Due between	1-2years		331,150		382,919	331,150	382,919
Due between	2-5 years		973,648		1,043,022	973,648	1,043,022
Due in more	than 5years		10,664,462	10,452,871		10,664,462	10,452,871
			12,354,147	12,239,474		12,354,147	12,239,474

	Total future minimum lease paymen	ts under non-cancell	able	operating lea	ses are as follows	:
	Group				Other
		Land and			operating
			buildings		leases
		31,12.21 F,		31..'I 2.20	31,12.21	31.12.20 F
	Payments falling due'. Within one year Within one to two years Within two to five years				9,339 7,872 22,961
					40,172
	Company				Other
		Land and			operating
			buildings		leases
		31.12.21		31.12.20	31.12.21	31.12.20
		F		F		F
	Payments falling due: Within one year Within one to two years Within two to five years				7,872 7,872 22,961
					36705
24.	DEFERRED INCOME	Group 31,12.21,31..12.20 E			Company 31.12.21 31,12,20 F
	Deferred capital grants	129,575	.	155,466	129,575	155,466

RECONCILIATION O	F M	OVE	MENTS IN FUNDS
Group
				Unrestricted			Restricted
					Funds		Funds	Totals
					F
At 1 January 2021				(16,294,169)			2,434,941	(13,859,228), .
incoming resources				10,600,232			2,348,327	12,948,559
Outgoing resources				(11,449,795)		(1,704,039)		('I3,153,834)
Actuarial gains on defined		benefit schemes		3,458,0OD				3,458,000
At 31 December 2021				(1~3,665,732			3,079 229	(1~0,606,503
Company
				Unrestricted			Restricted
					Funds		Funds	Totals
					F			F
At 1 January 2021				(16,298,410)			328,576	(15,969,834)
Incoming resources				'I0,324,887		2,337,327		12,662,214
Outgoing resources				,(11,235,679)		(1,634,193)		(12,869,872)
Actuarial gains on defined		benefit schemes		3,458,000				3,458,000
At 31 December 2021				(~13,751,202			1,031710	(1~2,719,492
Restricted Funds —Group
			At1					At 31
			January	Incoming	Outgoing			December
			2021	Resources	Resour'ces		Transfers	2021
							E
NERS scheme			328,576	160,81.0	(12,091)			477,295
Severn Centre Buildillg. Fund			2,106,365		(58,846)			2,047,519
Coronavirus Job retention	scheme		(CJRS)	1,072,361	(1,072,361)
National Leisure Recovery	Fund (NLRF)			56o,741	(560,741)
Asset improvement gtant.	Pencoed			129,850				129,850
Other restricted project grants				424,565				424,565
Total			2,434,941	2,348',327	(1(7041039)			3,079,229
Restricted Funds —Company
			At1					At 31
			January	Incoming	Outgoing			December
			2021	Resources	Resources		Transfers	2021
			F			f		F
NERS scheme			328,576	160,810	(12,091)			477,295
Coronavirus Job retention	scheme (CJRS)			1,072,381	(1,072,361)
National Leisure Recovery	Fur(d (NLRF)			549,741	(549,741)
Asset Improvement grant - Pencoed			'	129,850				129,850
Other restricted project grants				424,565				424,565
Total			328,576	2,337,327	(1,634,193)			1,031,710

Unrestricted Funds —Group
					At 31
	At 1 January	incoming	Outgoing	Gains, losses,	Decembel
	2021	Resources	Resources	8 transfers	2021
		f		E	E
Designetert funds:
Bridgend County BC
Brldgend County BC.utilities
Total designated
Unrestricted pension	(15,282,000)		(882,000)	3,458,000	(12,706,000)
Unrestricted general	(1.,012,169)	10,600,232	(10,567,795)	-	(979,732)
Total unrestricted	(16,294,169	10,600,232	(11,449,795)	3,458,000	(13,685,732
Unrestricted Funds - Company'
					At 31
	At 1 January	Incoming	Outgoing	Gains, losses,	December
	2021	Resources	Resources	8 transfers	2021
Designated funds. '
Bridgend County BC
Bridgend County BC - utilities
Total designated
Unrestricted pension	(15,282,000)		(882,000)	3,458,000	(12,706,000)
Unrestricted general	(1,016,410)	10,324,887	(10,353,679)	-	(1,045,202)
Total unrestricted	(16,298,410	10,324,887	(11,235,679)	3,458,000	(13,761,202)

general unrestricted fu	nds	. The	re were	no transfer	s in the	current year.
Unrestricted en eral
The unrestricted general		funds	ofthe	Charitable	Company	were in deficit at 31 December 2021. The
Charitable Company's	budgets		have been set for		future years with a view			to reversing	this position.
COMPARATIVE YEAR MOVEMENTS				IN FUNDS
Group
						Unrestricted		Restricted
						Funds	.	Funds	Totals
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;276,711)			(2,446,131)	(12,722,842)
Actuarial gains on defined		benefit schemes				(5,666,000)			(6,888,66OI
At 31 December 2020					(~16,294,169			2434 941	(1~3869,228
Company
						Unrestricted		Restricted
						Funds'		Funds	Totals
						F		E
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					(1~6,298,410			328,676	(1~5,969,834

Restricted	Funds	—Group
								At 31
		At	1 January		Incoming	Outgoing		December
			2020		Resources	Resburoes	Transfers	2020
			E		E	E	E	E
NERS scheme			167,324		173,547	(12,295)		328,576
Severn 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)
SIVIP reclaimed					55,7'I7	55,717)
Total			2,332,534		2,548,538	(2)446,131)		2,434,941
Restricted	Funds —Company
								At 31
		,At	1 January		Incoming	Outgoing		December
			2020	.	Resources	ReSources	Transfers	2020
			E		E	E	E	E
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 reclaimed					55,717	(55,717)
Total			167,324		2,548,538	(2,387,286)		328,576
Unrestricted Funds		—Group
								At 31
		At	1 January		Incoming	Outgoing	Gains, losses,	December
			2020		Resources	Resources	5transfers	2020
			E			F	E	E
Designated	funds:
Bridgend County BG			595,744			(1'03,271)	(492,473)
Bridgend County BC -'utilities			15,043				15,043)
Total designated			610,787			(103,271}	(507;516)
Unrestricted Unrestricted	pension general	(8,712,000) (273,077)			8,022,832	(904,000) (5,666,000) (9,289,440),507,516		(15,282,000) (1,012,169)
Total unrestricted		(8,374,290)			8,022,832	(10,276,711)	(5,666,000)	(18,294,169
Unrestricted Funds		- Company
								.At 31
		At	1January		Incoming	Outgoing	Gains, losses,	December
			2020		Resources	Resources	8 transfers	2020
			E		E	F	F	E
Designated	funds:
Bridgend County BC			595,744			(103,271)	(492,473)
Bridgend County BC -		utilities	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		(276,807)		7,757,250	(9,004,369)	507,516	(1,016,410)
Total unrestricted		8,378,020)			7,757,250	10,011,640)	(5,666,000)	(16,298,410

			Defined	benefit
			penSion plans
			3,1.12.21	31.12,20
Present value offunded	obligations		(42,588,000)	(41,627,000)
Fair value of plan assets			29,882,000	26 345 DDO
			(12706 000)	(15282 000)
Present value of unfunded		obligations
Deficit			(1~2,706,000	('I~5,282 000

Changes	in t	he p	res	ent value ofthe defined benefit ob	ligation are as follows;
					Defined	benefit
					pension	plans
					31.12.21	31.12.20
					P.	E
Opening	defined		benefit obligation		41,627,000	32,768,000
Current	service cost				972,000	877,000
Change	in financial			assumptions	1,189,000
Past service		cost			2,600	189,000
Contributions		by'	scheme participants		121,000	139,000
Interest	cost				605,000	672,000
Remeasurement			(gains) / losses		(1,583,000)	7,306,000
Curtailments
Benefits	paid				~345000	~324,000
					42,588,000	41,627,000

Changes in th	e	fair value	ofscheme assets are	as follows;
					Defined	benefit
					pension	plans
					31,12.21	31.12.20
Opening fair value. ofscheme assets					26,345,000	24,056,000
Interest on plan		assets			381,000	496,000
Contributions Contributions	by, employer by scheme		participants		32'i,ppp 121,000	346,000 139,000
Remeasurement		gains / (losses)			3,064,000	1,640,000
Administration Benefits paid		expenses			(5,000) (6,000) ~345 000 ~324,000
					29,882,000	26,345,000
The arr)ounts	recognised		in other comprehensive	income are as follows:	31,12.21	31.12.20
						F
Remeasurement		gains/(losses)			3,458,000	~5,666,000)
Cumulative amount ofactUarial
remeasurement		losses			(6,478,000)	L9,938,000)

	The major ca	tegor	ies ofschem	e assets as a percentage oftotal	scheme ass	ets are as fo	ets are as fo	llows
						Defined		benefit
						pension		plans
						31,12.21		31.12.20
'	Equities Government	bonds				67.33% 3.87%		64.27% 553%
	Cash/liquidity Other bonds					0.870/' 11.23%		0.60% 13.34%
	Property Other					4,97% 11.73%		5.63% 10.63%
						100 00'/		100.00%
	Principal actuarial		assumptions	at the balance sheet date:
						31,12.21		31,12.20
	Discount rate				1,80	—1..90%	1,40 —1.50%
	Rate of Inflation					73%		230%
	Future salary increases Future pension incieases				385 2,60	4 300/' —2.9P%	3.55 —3.80% 2.3P —2.40%

The following table sets	out	the sensitivity	analysis	analysis	produced by the	produced by the	produced by the	actuary reporting	in	respect ofthe
Worcestershire County	Council Pension Central		Fund: +0.1%discount				+0.1%inflation		1	year increase
						rate				in life
										expectancy
								F		E
Liabilities		24,201,000			23,626,000			24,790,000		24,951,000
Assets		(12,789,000)		(12,789,000)				(12,789,000)		(12,789,000)
Deficit/(surplus)		11,412,000			10,837,000			12,001,000		12,162,000
Projected service		476,000				463,000		490,000		493,000
cost for next year
Projected interest		203,000				2Q3,000		213,000		216,000
cost for next year
The following table sets	out	the sensitivity	analysis		produced by the			actuary reporting	in	respect ofthe
Rhondda Cynon Taf Count'y		Borough Council		Pension		Fund',				'
						+0,1%p.a.		Base figure		-0.1% p.a.
Adjustment to discount	rate
Present value oftotal obligation (8)						16,163,000		'I6,612,000		17,077,000
%change in present value		of total obligation				-2.7%				2 8o(o
Projected service cost Approximate %change	(E) in	projected service		cost		429,000 -3.4%		444,000		460,000 35%
Adj ustment to salary increase rate
Present value oftotal obligation (2) %change in present value oftotal obligation						16,662/000 0 3oyo		16,612,000		16,562,000 -0.3'/o
Projected service cost Approximate %change	(f) in	projected service		cost		444,000 00		444,000		444,000 0 Q%
Adjustment to pension	increase rate
Present value oftotal obligation (8) %change iri present value 'of total obligation						17,027,000 25		16,612,000		16,213,000 2
.Projected service cost Approximate %change	(8) in	projected service		cost		460,000 3,5%		' 444,000		429,000 34%
						-1	year	Base figure		+1 year
Adjustment to mortality age rating assumption Present value oftotal obligation (E) change in present value of total obligation						17,210;000 36%		16,612,000		16,014,000 36%
Projected service cost Approximate %change	(F) in	projected service		cost		462,000 0%		444,000		427,000 -3.9%
The following table sets out		the sensitivity	analysis		produced by the actuary reporting				in	respect ofthe
Shropshire County Pension		Fund:
		Ceritral		+0.1%discount			+0.1%inflation		1	year increase
						'rate				in life
										expectancy
		F				E		E		F
Liabilities		1,775,000			1,742,000			1,809,000		1,829,000	.
Assets		(1,171,000)			(1,171,000)			(1,171,000)		(1,171,000)
Deficit/(surplus)		604,000			571,000			638,000		658,000
Projected service		48,000				47,000		49,000		49,000
cost for next year
Projected interest		11,000				11,000		11,000		12,000
cost for next year

Amounts	for the current and	for the current and	previous	previous	four periods	are as follows:,	are as follows:,
					31.12,21	- 31.12,20	31.12.19	31.12.18	3'I,12.17
Defined	benefit pension	plans			E	F	E	E	E
Defined	benefit obligation			(42,588,000)(41,627,000)			(32,768,000)	(26,414,000)	(27,218,000)
Fairvalueofscheme assets					29,882,000	26,345,000	24,Q56,000	20,484,000,	20,954,000
Deficit			.	(12,706,000)(15,282,000)			(8,712,000)	(5,930,000)	(6,264,000)
Experience gains/(losses)		on
scheme	liabilities				3,458,000	(5,666,000)	(1,929,000)
Experience gains/(losses)		on
scheme	assets