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|||||Page|
|---|---|---|---|---|
|Reference and Administrative|||Details ofthe Charity, its Trustees and Advisers|1-2|
|Trustees'
Report||||3-20|
|Independent|Auditor's|Report|on the Financial Statements|21-23|
|Consolidated|Statement|of Financial Activities||24|
|Consolidated|Balance Sheet|||25-26|
|Charity Balance Sheet||||27-28|
|Consolidated|Statement|ofCash Flows||29|
|Notes to the|Financial Statements|||30-56|
##
|Trustees||||Mrs Joan Kirkbride,|Mrs Joan Kirkbride,|Chairmani||||
|---|---|---|---|---|---|---|---|---|---|
|||||Dr Jamie Clarke||||||
|||||Cllr Alison Eastwood||(appointed|23 September|2021)||
|||||Mrs Georgina
Fordham||||||
|||||Mr Clive Greshami||||||
|||||Mr Roger Griffiths||||||
|||||Cllr Dudley Hughes||||||
|||||Mr lain Massey||||||
|||||Mrs Renuka Popat||||||
|||||Mr Trevor Shipmanl||||||
|||||Mrs Morcea Walker||||||
|||||Northamptonshire|County Council (appointment|||terminated|23 September 2021)|
|||||'||||||
|||||Members ofthe|Finance Committee|||||
|Company|registered|||||||||
|number||||07738151||||||
|Charity registered||||||||||
|number||||1145643||||||
|Registered||office||125-129Kettering|Road|||||
|||||Northampton||||||
|||||Northampton
shire||||||
|||||NN1 4AZ||||||
|Senior management|||team|Peter Smalley, Chief||Executive||||
|||||Rachel Coles||||||
|||||Anna Denny||||||
|||||Chris Hiscock||||||
|||||Andy Kirkwood||||||
|||||Mark Malitskie||||||
|||||Richard Roper||||||
|Company|secretary|||Mark Malitskie||||||
|Chief executive officer||||Peter Smalley||||||
|Independent||auditor||MHA Maclntyre
Hudson||||||
|||||Chartered
Accountants||||||
|||||Peterbridge
House||||||
|||||The Lakes||||||
|||||Noithampton||||||
|||||NN4 7HB||||||
|Bankers||||Lloyds Bank PLC||||||
|||||2 George Row||||||
|||||Northampton||||||
|||||NN1 1DJ||||||
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|||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2021|2021|2021|2020|
||||Note||E|E|F|
|Income from:||||||||
|Donations
and legacies|||||24,910|24,910|27,939|
|Charitable
activities||||2,309,721|2,182,548|4,492,269|4,557,496|
|Other trading
activities|||||44,964|44,964|75,470|
|Investments|||||1,288|1,288|5,870|
|Total income||||2,309,721|2,253,710|4,563,431|4,666,775|
|Expenditure
on:||||||||
|Raising funds|||7||28,340|28,340|50,754|
|Charitable
activities|||8|2,394,380|1,857,432|4,251,812|4,702,353|
|Total expenditure||||2,394,380|1,885,772|4,280,152|4,753,107|
|Net movement
in funds before other||||||||
|recognised
gains||||(84,659)|367,938|283,279|(86,332)|
|Other recognised gains:||||||||
|Actuarial
gains on defined||benefit||||||
|pension schemes|||21|37,000||37,000|31,000|
|Net movement
in funds||||(47,659)|367,938|320,279|(55,332)|
|Reconciliation
offunds:||||||||
|Total funds brought|forward|||695,825|1,137,709|1,833,534|1,888,866|
|Net movement
in funds||||(47,659)|367,938|320,279|(55,332)|
|Total funds carried|forward|||648,166|1,505,647|2,153,813|1,833,534|
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|||||Note|2021f|2020
E|
|---|---|---|---|---|---|---|
|Cash flows from operating|activities||||||
|Net cash used
in operating|activities|||18|425,854|(152,948)|
|Cash flows from investing|activities||||||
|Dividends,
interests
and rents from investments|||||1,288|4,870|
|Net cash provided
by investing
activities|||||1,288|4,870|
|Cash flows from financing|activities||||||
|Change
in cash and cash|equivalents|in|the year||427,142|(148,078)|
|Cash and cash equivalents|at the beginning||ofthe year||1,525,887|1,673,965|
|Cash and cash equivalents|at the end|of|the year|19|1,953,029|1,525,887|
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|Freehold
property|- 50years|
|---|---|
|Property
improvements|- 20years|
|Fixture and fittings|- 5years|
|Music equipment|- 4to 10years|
|Computer
equipment|- 3years|
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2020|
|||f.|E||
|Gifts and donations||24,910|24,910|27,939|
|Income from donations|and legacies - prior year||||
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2020f|2020
f.|2019|
|Gifts|and|donations|27,939|27,939|48,164|
##
##
||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2021|2021|2021|2020|
|||||f.|F|E|
|Music tuition||||2,013,228|2,013,228|2,161,645|
|Grant income from Arts Council|||1,119,008||1,119,008|1,117,987|
|Cultural
Recovery|Fund||266,858|97,549|364,407||
|Courses||||1,870|1,870|71,410|
|Tours||||||26,531|
|Examination
fees||||19,581|19,581|50,607|
|Gift aid income||||50,320|50,320|82,382|
|Grant income from the Industrious||Project|94,921||94,921|57,609|
|Grant income from the Gordon Robinson|||||||
|Memorial
Trust|||29,080||29,080|32,540|
|Other grant income|||750,800||750,800|921,695|
|Music production|grant||49,054||49,054|35,090|
|Total 2021|||2,309,721|2,182,548|4,492,269|4,557,496|
|Total 2020|||2,076,712|2,480,784|4,557,496||
##
##
||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2020|2020|2020|2019|
|||||E|F||
|Music tuition||||2,161,645|2,161,645|3,328,711|
|Grant income from Arts Council|||1,117,987||1,117,987|1,115,001|
|Courses||||71,410|71,410|82,780|
|TOUIS||||26,531|26,531|66,892|
|Examination|fees|||50,607|50,607|106,513|
|Gift aid income||||82,382|82,382|126,795|
|Grant income from Youth Music||||57,609|57,609|52,173|
|Grant income from the Gordon Robinson|||||||
|Memorial|Trust||32,540||32,540|103,540|
|Other grant|income||891,095|30,600|921,695|11,040|
|Music production||grant|35,090||35,090||
|Total 2020|||2,076,712|2,480,784|4,557,496|4,993,445|
|Total 2019|||1,218,541|3,774,904|4,993,445||
##
##
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021|2021f|2020
E|
|Concerts, coaches|and CDs||6,375|6,375|28,682|
|Other project income|||4,467|4,467||
|Conference|||||1,820|
|Miscellaneous
income|||1,088|1,088|1,298|
|Lettings income|||6,700|6,700|12,325|
|Musical instrument|repair||3,984|3,984|5,780|
|Software sales|||22,350|22,350|25,565|
|Total 2021|||44,964|44,964|75,470|
|Total 2020|||75,470|75,470||
|Income from fundraising||events - prior year||||
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2020f|2020
f.|2019|
|Concerts, coaches||and CDs|28,682|28,682|87,917|
|Conference|||1,820|1,820|5,644|
|Miscellaneous|income||1,298|1,298|1,369|
|Lettings income|||12,325|12,325|14,615|
|Musical
instrument||repair|5,780|5,780|15,326|
|Software sales|||25,565|25,565|18,325|
|Total 2020|||75,470|75,470|143,196|
|Total 2019|||143,196|143,196||
##
##
|Grants|||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2021|2020|
|The Group recognises||financial assistance|||from|various funders as|||
|follows:|||||||||
|Arts Council England,|National|||Lottery Project|Grant|||14,540|
|BBCChildren
in Need|||||||9,840|11,875|
|British and Foreign School Society|||||||12,740||
|Constance
Travis Charitable|||Trust||||50,000|50,000|
|David Laing Foundation|||||||1,000|200|
|Kirby Laing Foundation||||||||5,000|
|Debbie Smith||||||||1,571|
|D'Oyly Carte|||||||4,000|3,300|
|Friends of Northamptonshire|||Music and Performing|||Arts Trust||3,792|
|Kettering
and District Eisteddfod|||||||4,786||
|Local Giving|||||||4,038|4,996|
|N. Clube|||||||1,000||
|Northampton
Borough|Council|||||||25,000|
|Other Donations|||||||6,663|19,549|
|Rotary West||||||||1,200|
|SirAndrew
Martin Trust|||||||1,000||
|Spirit of2012 - Carers|project|||||||13,470|
|The Chartered
Accountants|||Livery Charity||||3,000||
|The Frederick and Phyllis||Cann||Trust||||5,000|
|The Gordon Robinson|Memorial|||Trust|||29,080|31,340|
|Virgin Money Giving|||||||1,143|3,741|
|Youth Music|||||||34,298|41,158|
|Accounting
adjustments||8 deferrals|||||35,377|(29,494)|
||||||||197,965|206,238|
##
##
||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2021f|2021|2020
F|
|Concerts, coaches and CDs|382|382|23,217|
|Conference|250|250|2,117|
|Miscellaneous|27,708|27,708|25,420|
||28,340|28,340|50,754|
##
|||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2021|2021|2021|2020|
|||||E||E|E|
|FRS 102pension|cost|||37,000||37,000|32,000|
|Music centre expenditure|||||24,286|24,286|138,548|
|Recruitment
and|other|staff costs|||19,772|19,772|22,415|
|Rates and water|||||4,966|4,966|6,950|
|Light and heat|||||15,395|15,395|15,928|
|Repairs and maintenance|||||23,410|23,410|40,391|
|Insurance|||||22,296|22,296|20,310|
|Cleaning|||||2,861|2,861|2,854|
|Legal and professional||fees|||37,888|37,888|46,049|
|Telephone|||||4,133|4,133|2,453|
|Postage and stationery|||||14,963|14,963|21,822|
|Licences and subscriptions|||||3,943|3,943|7,069|
|Bank and card charges|||||11,272|11,272|14,610|
|Equality,
Diversity|and Inclusion||||2,400|2,400||
|Sundry expenses|||||3,131|3 131|13,602|
|Marketing
and advertising|||costs||||4,800|
|Youth Music activity||||79,243||79,243|100,673|
|Music Production|expenditure|||13,335||13,335||
|Gordon Robinson|funded||activity|29,080||29,080|32,540|
|OHMI Project|||||5,000|5,000||
|Cultural
Recovery|Fund|||205,707||205,707||
|Instrument
purchases||||348|6,328|6,676|20,479|
|Wages and salaries||||2,004,540|1,063,191|3,067,731|3,448,909|
|National
insurance|||||216,815|216,815|231,716|
|Pension cost|||||375,382|375,382|453,225|
|Depreciation||||25,127||25,127|25,010|
|Total 2021||||2,394,380|1,857,432|4,251,812|4,702,353|
|Total 2020||||2,115,539|2,586,814|4,702,353||
##
##
|||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2020|2020|2020|2019|
||||||E||E|
||FRS 102 pension cost|||32,000||32,000|17,000|
||Music centre expenditure||||138,548|138,548|171,291|
||Recruitment
and other|staff costs|||22,415|22,415|30,902|
||Rates and water||||6,950|6,950|6,676|
||Light and heat||||15,928|15,928|18,513|
||Repairs and maintenance||||40,391|40„391|121,734|
||Insurance||||20,310|20,310|21,460|
||Cleaning||||2,854|2,854|2,099|
||Legal and professional|fees|||46,049|46,049|36,322|
||Telephone||||2,453|2,453|2,968|
||Postage and stationery||||21,822|21,822|27,791|
||Licences and subscriptions|||4,088|2,981|7,069|3,555|
||Bank and card charges||||14,610|14,610|17,634|
||Sundry expenses||||13,602|13,602|16,786|
||Marketing
and advertising||costs||4,800|4,800|1,774|
||Youth Music activity|||17,361|83,312|100,673|59,741|
||Gordon Robinson
funded||activity|32,540||32,540|103,540|
||Instrument
purchases||||20,479|20,479|26,614|
||Wages and salaries|||1,697,552|1,751,357|3,448,909|3,655,935|
||National
insurance|||114,051|117,665|231,716|268,482|
||Pension cost|||192,937|260,288|453,225|487,773|
||Depreciation|||25,010||25,010|25,010|
||Total 2020|||2,115,539|2,586,814|4,702,353|5,123,600|
||Total 2019|||1,261,210|3,862,390|5,123,600||
|9.|Auditor's
remuneration|||||||
|Auditor's
remuneration|||||
|---|---|---|---|---|
||||2021|2020|
|Fees payable to the Charity's|auditor for the audit ofthe Charity's|annual|||
|accounts|||12,000|12,000|
##
##
|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|Wages|and salaries|3,067,731|3,448,909|3,067,731|3,448,909|
|National|insurance|216,815|231,716|216,815|231,716|
|Pension|costs|412,382|485,225|412,382|485,225|
|||3,696,928|4,165,850|3,696,928|4,165,850|
||Group|Group|
|---|---|---|
||2021|2020|
||No.|No.|
|Teachers|110|118|
|Administration|12|12|
|Support|3|3|
||125|133|
|Group|Group|
|---|---|
|2021|2020|
|No.|No.|
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||||Fixtures||||
|---|---|---|---|---|---|---|
||Freehold|Property|and|Music|Computer||
||property|improvements|fittings
f|equipment|equipment
E|Total|
|Cost or valuation|||||||
|At 1 September 2020|495,000|93,306|6,270|325,028|3,360|922,964|
|At 31August 2021|495,000|93,306|6,270|325,028|3,360|922,964|
|Depreciation|||||||
|At 1 September 2020|69,300|26,562|6,270|301„903|3,360|407,395|
|Charge for the year|9,900|4,666||10,561||25,127|
|At 31August 2021|79,200|31,228|6,270|312,464|3,360|432,522|
|Net book value|||||||
|At 31August 2021|415,800|62,078||12,564||490,442|
|At 31 August 2020|425,700|66,744||23,125||515,569|
##
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##
|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||E||E||
|Due within one year||||||
|Trade debtors||42,648|14,404|42,648|14,404|
|Amounts
owed by group undertakings||||33,263||
|Prepayments|and accrued income|442,006|373,439|442,006|360,449|
|||484,654|387,843|517,917|374,853|
##
|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||||f.||
|Trade creditors||19,909||19,909||
|Other taxation and social security||61,480|50,503|61,480|50,503|
|Other creditors||11,421|80,471|11,421|80,471|
|Accruals and deferred|income|681,502|464,791|680,752|464,041|
|||774,312|595,765|773,562|595,015|
##
##
|Statement of|funds||||||
|---|---|---|---|---|---|---|
|Statement of|funds - current|year|||||
||Balance at 1|||||Balance at|
||September|||Transfers|Gains/|31August|
||2020f|Income
f|Expenditure|in/out
f|(Losses)
f|2021
f|
|Unrestricted|||||||
|funds|||||||
|Designated|||||||
|funds|||||||
|Instrument|||||||
|purchase|71,957|3,984|(1,032)|||74,909|
|Building|||||||
|maintenance|445,913||(624)|||445,289|
|Re-stimulation|||||||
|fund||||260,000||260,000|
||517,870|3,984|(1,656)|260,000||780,198|
|General funds|||||||
|General fund|619,839|2,249,726|(1,884,116)|(260,000)||725,449|
|Total|||||||
|Unrestricted|||||||
|funds|1,137,709|2,253,710|(1,885,772)|||1,505,647|
##
##
||Balance at 1||||||Balance at|
|---|---|---|---|---|---|---|---|
||September||||Transfers|Gains/|31August|
||2020f|Income
E|Expenditure|f|in/outf|(Losses)
F|2021
f|
|Restricted||||||||
|funds||||||||
|Fee remission||||||||
|fund|105,165||||||105,165|
|Arts Council||||||||
|and other||||||||
|grants|75,091|1,434,920|(1,473,130)||||36,881|
|The Gordon||||||||
|Robinson||||||||
|Memorial||||||||
|Trust||29,080|(29,080)|||||
|Industrious||||||||
|project||94,921|(79,243)||||15,678|
|Government||||||||
|Furlough||||||||
|grants||750,800|(750,800)|||||
|Pension||||||||
|reserve|||(37,000)|||37,000||
||180„256|2,309,721|(2,369,253)|||37,000|157,724|
|Restricted||||||||
|fixed assets||||||||
|Buildings
and||||||||
|assets|515,569||(25,127)||||490,442|
|Total||||||||
|Restricted||||||||
|funds|695,825|2,309,721|(2,394,380)|||37,000|648,166|
|Total offunds|1,833,534|4,563,431|(4,280,152)|||37,000|2,153,813|
##
##
|Statement offunds|-|prior ye|ar|||||
|---|---|---|---|---|---|---|---|
||||Balance at||||Balance at|
||||1 September|||Gains/|31 August|
||||2019|Income|Expenditure|(Losses)|2020|
||||E|E||||
|Unrestricted
funds||||||||
|Designated
funds||||||||
|Instrument
purchase|||76,413|5,780|(10,236)||71,957|
|Building maintenance|||446,538||(625)||445,913|
||||522,951|5,780|(10,861)||517,870|
|General funds||||||||
|General fund|||663,263|2,583,283|(2,626,707)||619,839|
|Total Unrestricted|funds||1,186,214|2,589,063|(2,637,568)||1,137,709|
|Restricted funds||||||||
|Fee remission
fund|||113,501||(8,336)||105,165|
|Arts Council and other||grants|48,572|1,153,077|(1,126,558)||75,091|
|The Gordon Robinson||||||||
|Memorial
Trust||||32,540|(32,540)|||
|Government
Furlough||grants||891,095|(891,095)|||
|Pension reserve||||1,000|(32,000)|31,000||
||||162,073|2,077,712|(2,090,529)|31,000|180,256|
|Restricted fixed assets||||||||
|Buildings
and assets|||540,579||(25,010)||515,569|
|Total Restricted funds|||702,652|2,077,712|(2,115,539)|31,000|695,825|
|Total offunds|||1,888,866|4,666,775|(4,753,107)|31,000|1,833,534|
##
##
##
|Summary|offun|ds - current ye|ar|||||
|---|---|---|---|---|---|---|---|
|||Balance at 1|||||Balance at|
|||September|||Transfers|Gains/|31August|
|||2020|Income
F|Expenditure
f|in/out
E|(Losses)
E|2021
f|
|Designated||||||||
|funds||517,870|3,984|(1,656)|260,000||780,198|
|General funds||619,839|2,249,726|(1,884,116)|(260,000)||725,449|
|Restricted||||||||
|funds||180,256|2,309,721|(2,369,253)||37,000|157,724|
|Restricted|fixed|||||||
|assets||515,569||(25,127)|||490„442|
|||1,833,534|4,563,431|(4,280,152)||37,000|2,153,813|
|Summary|offunds - prior|year|||||
|---|---|---|---|---|---|---|
|||Balance at||||Balance at|
|||1 September|||Gains/|31 August|
|||2019|Income|Expenditure|(Losses)|2020|
|||F|E||||
|Designated|funds|522,951|5,780|(10,861)||517,870|
|General funds||663,263|2,583,283|(2,626,707)||619,839|
|Restricted|funds|162,073|2,077,712|(2,090,529)|31,000|180,256|
|Restricted|fixed assets|540,579||(25,010)||515,569|
|||1,888,866|4,666,775|(4,753,107)|31,000|1,833,534|
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|Analysis|of n|et assets between funds|- current year||||
|---|---|---|---|---|---|---|
||||Restricted|Restricted|Unrestricted|Total|
||||funds|fixed assets|funds|funds|
||||2021
E|2021|2021
f|2021f|
|Tangible|fixed|assets||490,442||490,442|
|Current|assets||932,036||1,505,647|2,437,683|
|Creditors|due|within one year|(774,312)|||(774,312)|
|Total|||157,724|490,442|1,505,647|2,153,813|
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|Analysis|of n|et ass|ets|between funds|- prior year||||
|---|---|---|---|---|---|---|---|---|
||||||Restricted|Restricted|Unrestricted|Total|
||||||funds|fixed assets|funds|funds|
||||||2020|2020|2020|2020|
|||||||||E|
|Tangible|fixed|assets||||515,569||515,569|
|Current|assets||||775,931||1,137,799|1,913,730|
|Creditors|due|within|one|year|(595,675)||(90)|(595,765)|
|Total|||||180,256|515,569|1,137,709|1,833,534|
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||||||||||||||Group|Group|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||2021|2020|
||||||||||||||f.||
|Net
income/expenditure|||for|the|year|(as||per|Statement||of|Financial|||
|Activities)|||||||||||||283,279|(86,332)|
|Adjustments
for:|||||||||||||||
|Depreciation
charges|||||||||||||25,127|25,010|
|Dividends,|interests|and|rents|from|investments||||||||(1,288)|(4,870)|
|Increase|in debtors||||||||||||(96,811)|(182,300)|
|Increase|in creditors||||||||||||178,547|64,544|
|Defined benefit pension|||scheme cost less|||contributions||||payable|||37,000|31,000|
|Net cash|provided|by/(used||in) operating|||activities||||||425,854|(152,948)|
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|Principal
actuari|al
assumptions
at the Balance Shee|t date (expressed as weighted
averages|):|
|---|---|---|---|
|||At 31|At 31 August|
|||August 2021|2020|
|Discount rate||1.65|1.65|
|Expected return|on assets|1.65|1.65|
|Future salary increases||3.40|2.80|
|Future pension|increases|2.90|2.30|
||At 31|At 31 August|
|---|---|---|
||August 2021|2020|
||Years|Years|
|Mortality rates (in years)|||
|-for a male aged 65 now|21.7|21.5|
|-at 65for a male aged 45 now|22.8|22.3|
|-for a female aged 65 now|24.1|23.7|
|-at 65for a female aged 45 now|25.8|25.1|
##
|Sensitivity
analysis|||
|---|---|---|
||At 31|At 31 August|
||August 2021|2020|
|Discount rate +0.1%(2020:+0.5%)|24,000|110,000|
|Discount rate -0.1%(2020:-0.5%)|(24,000)|(110,000)|
|Mortality assumption
- 1 year increase|45,000|40,000|
|Mortality assumption
- 1 year decrease|(45,000)|(40,000)|
|CPI rate +0.1%(2020:+0.5%)|22,000|99,000|
|CPI rate -0.1%(2020:-0.5%)|(22,000)|(99,000)|
##
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|The Grou|p's share ofthe assets
in the scheme was:|||
|---|---|---|---|
|||At 31|At 31 August|
|||August 2021
f|2020
E|
|Equities||1,068,000|940,000|
|Corporate|bonds|319,000|218,000|
|Property||191,000|164,000|
|Cash and|other liquid assets|16,000|41,000|
|Total fair|value ofassets|1,594,000|1,363,000|
|The am|ounts
recognised|in the Consolidated
S|tatement
of Fina|ncial Activities are|as follows;||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||f.||
|Current|service cost||||(34,000)|(39,000)|
|Interest|income||||23,000|25,000|
|Interest|cost||||(23,000)|(24,000)|
|Total amount
recognised||in the Consolidated|Statement of|Financial|||
|Activities|||||(34,000)|(38,000)|
|Movements
in the present||value ofthe defined|benefit obligation|were as follows:|||
|||||||2021f|
|Opening|defined benefit obligation|||||1,325,000|
|Interest|cost|||||23,000|
|Contributions
by scheme participants||||||5,000|
|Actuarial|losses/(gains)|||||207,000|
|Benefits|paid|||||(38,000)|
|Current|service cost|||||34,000|
|Closing|defined benefit|obligation||||1,556,000|
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||||2021|
|---|---|---|---|
||||F.|
|Opening|fair|value of scheme assets|1,363,000|
|Expected|return on assets||23,000|
|Actuarial|gains/(losses)||244,000|
|Contributions||by employer|(3,000)|
|Contributions||by scheme participants|5,000|
|Benefits|paid||(38,000)|
|Closing|fair|value ofscheme assets|1,594,000|
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