##
##
||Page|
|---|---|
|Reportofthe Trustees|1-7|
|ReportofthelndependentAuditors|I-11|
|Consolidated StatementofFinancial Activities|12|
|Balance Sheet-Group and Charity|13|
|ConsolidatedCashFlow Statement|14|
|Notes totheFinancial Statements|15-49|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||Total|Total|
|---|---|---|---|---|---|---|
|||UnrestrictedDesignated
FundsFunds||Restricted
Funds|Funds
2023|Funds
2022|
|||||||as restated|
||Note|Ê|€|G|Ê|€|
|INCOME FROM:|||||||
|Donations|4||||-|
3,638|
|Charitable activities|6|14,754,852|||14,754,852|13,850,783|
|Other trading activities||61,102|||61,10259,038||
|lnvestment income|5|71,153|||71,15314,811||
|Totaloperatingincome||14,887,107|||14,887,107|13,928,270|
|EXPENDITURE ON:|||||||
|Raising funds||106,690|||106,690111,486||
|Charitable activities|7|15,215,055|||15,215,055|14,294,937|
|Totaloperating expenditure||15,321,745|||15,321,745|14,406,423|
|Netexpenditure||(434,638)|||(434,638)|(478,153)|
|Net (losses)/gainsoninvestments||(71,712)|||(71,712\|9,295|
|Transfers betweenfunds|23||||||
|Netmovementinfundsexcluding
Pensionliability||(506,350)|||(506,350)(468,858)||
|Actuarialgainson defined
benefitpensionscheme|25|230,930|||230,930329,327||
|Net Movementinfunds||(275,420)|||(275,420',)|(139,531)|
|Totalfundsbrought forward|24|812,172595,458||35,359|1,442,989|1,582,520|
|Totalfundscarriedfon¡vard|24|536,752595,45835,359|||1,167,569'1,442,989||
##
|||Group
2023|Group
2022|Charity
2023|Charity
2022|
|---|---|---|---|---|---|
||Note|â|as restated
Ê|t|as restated
€|
|Fixedassets||||||
|lntangible assets
Tangible assets
Less:CapitalGrant
lnvestments|15
16
16
17|89,081
1,522,285
(1,250,310)
926,879|1,560,019
(1,250,310)
985,631|89,081
1,512,534
(1,250,310)
972,562|1,552,616
(1,250,310)
972,562|
|||1,287,gg5|1,295,340|1,323,8671,274,868||
|Gurrentassets||||||
|Stock
Debtors
Cash at bankandinhand|t8
20|561
4,116,847
4,696,570|3,708,155
2,560,474|3,837,796
4,313,412|3,307,821
2,255,293|
|||8,813,9786,268,629||8,151,208|
5,563,1 14|
|Liabilities
Creditorsfallingduewithinoneyear|21|(8,440,921) (5,037,670)||(7,995,618)(4,320,424)||
|Netcurrent assets||379,0571,230,959155,5901,242,690||||
|Netassetsexcluding
pensionliability||1,660,992|2,526,299|1,479,457|2,517,558|
|Definedbenefitpensionliability|25|(493,423)|(1,083,310)|(469,000)|(1,045,000)|
|Netassets||1,167,5691,442,989||1,010,4571,472,558||
|Gharityfunds
Restrictedfunds|22|35,359|35,359|3,827|3,827|
|Unrestrictedfunds||536,752|812,172|798,424|1,260,525|
|Designatedfunds|23|595,458|595,458|208,206|208,206|
|Totalaccumulatedfunds||1,167,5691,442,989||1,010,4571,472,558||
##
|||2023||2022|
|---|---|---|---|---|
||Notes|€||€|
|Netcashflow from operatingactivities|27|2,604,853||2,281,148|
|Gashflowsfrominvestingactivities|||||
|Payments toacquireintangible fixed assets|(91,626)||||
|Payments to acquire tangible fixed assets|(76,366)||(57,677)||
|Acquisitionoffixedassetinvestments|(624,353)||(416,455)||
|Proceedsfromsaleofinvestments|610,371||419,563||
|Deposits from/(to)cashheld in investments|1,021||(11,064)||
|lnterest received|71,153||14,811||
|Netcashoutflow frominvestingactivities||(109,800)||(50,822)|
|Repaymentof defined benefitpensionliability||(358,957)||(305,177)|
|lncrease incash|28|2,136,096||1,925,149|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|A summaryofthefinancialactivities under|takenbyVibrance|issetoutbelow:||
|---|---|---|---|
|||2023|2022|
||||as restated|
|||€|Ê|
|Totalincome||11,401,339|10,652,063|
|Expenditureoncharitable activities||(12,094,44O)|(11,215,754)|
|Expenditureonraising funds||||
|||(693,101)|(563,691)|
|Defined Benefitpensionliability|24|231,000|252,000|
|Net movementinfunds||(462,101)|(311,691)|
|Totalfundsbrought forward||1,472,558|1,784,249|
|Total funds carried forward||1,010,457|1,472,558|
|Representedby:||||
|Restrictedfunds|23|3,827|3,827|
|Unrestricted funds|23|798,424|1,260,525|
|Designatedfunds|23|208,206|208,206|
|||1,010,457|1,472,558|
##
##
|VOLUNTARYINCOME
Yearto3lMarch2023||||||
|---|---|---|---|---|---|
||Unrestricted
2023|Designated
2023||Restricted
2023|Total
2023|
|Donations|Ê||î|:|â|
|Yearto31Ma¡ch2022||||||
||--
Unrestricted|Designated||Restricted|Total|
|Donations|2022
:||2022
€
3,638|I
2022|2022I
3,638|
||||3,638||3,638|
|INVESTMENTINCOME||||||
|Yearto3lMarch2023||||||
|lnvestment income|UnrestrictedDesignated
2023
2023
€Ê
71,153|||:
Restricted
2023|Total
2023
€
71,153|
||71,153||||71,153|
|YeartoSlMarch2022|UnrestrictedDesignated
2022
2022
Ê€|||Restricted
2022
Ê|Total
2022
g|
|lnvestment income|14,811||||14,811|
||14,811||||14,811|
##
##
##
|INCOME FROMGHARITABLE|ACTIVITIES|||||
|---|---|---|---|---|---|
||Unrestricted
2023
€|DesignatedRestricted
2023
2023
€Ê||Total
2023t|Total
2022
€|
|Redbridge PCT/ONEL|926,719|||926,719|808,301|
|L.B. Redbridge|3,946,284|||3,946,284|3,462,679|
|Respite Care|1,755|||1,755|4,261|
|Essex County Council|2,355,367|||2,355,367|2,087,719|
|L.B.W,F.|648,239|||648,239|685,813|
|L.B.TowerHamlets|216,184|||216,184|634,154|
|Thurrock County Council|270,024|||270,024|224,289|
|L.B. Bromley|135,864|||135,864|138,379|
|L.B. Merton|420,161|||420,161|292,263|
|L.B. Newham(formerlyILF)|638,615|||638,615|650,538|
|Southend|183,580|||183,580|170,928|
|Rent Gharges|1,109,670|||1,109,670|1,265,411|
|Wandsworth|636,632|||636,632|321,447|
|Haringey|2,710,372|||2,710,372|2,697,059|
|Other lncome|555,386|||555,386|407,542|
||14,754,852|||14,754,852|13,850,783|
##
##
|ANALYSISOFCHARITABLEEXPENDITUR
Yearto3lMarch2023|E||
|---|---|---|
||Support
Direct
Costs||
||Costs(See/Vofe9/
2023
2023
€€|Total
2023
ß|
|AccommodationBased
CommunityBased
SelfDirected Support|8,375,9262,428,056
2,519,684511,170
1,083,203255,584|10,803,982
3,030,854
1,338,787|
|Total|11,978,8133,194,810|15,173,623|
##
|Yearto31March2022-as restated|||
|---|---|---|
||Support
Direct
Gosts||
||Gosts(See lVofe9,)
2022
2022
€Ê|Total
2022
€|
|AccommodationBased
Community Based
Self Directed Support|8,255,0801,530,204
2,630,658437,201
1,223,193218,601|9,785,284
3,067,859
1,441,794|
|Total|12,108,9312,186,006|14,294,937|
##
##
##
##
|Yearto31 March2023|||||
|---|---|---|---|---|
||Unrestricted Designated
2023
2023
€€||Restricted
2023I|Total
2023
g|
|AccommodationBased|10,803,982|||10,803,982|
|Gommunity Based
Self Directed Support|3,030,854
1,338,787|||3,030,854
1,338,787|
||15,173,623||::|15,173,623|
##
|Yearto31March2022-as restated|||||
|---|---|---|---|---|
||Unrestricted Designated
2022
2022
€€||Restricted
2022
Ê|Total
2022
Ê|
|AccommodationBased|9,541,919|243,365||9,785,284|
|Community Based
Self DirectedSupport|2,998,326
1,407,027|69,533
34,767||3,067,859
1,441,794|
||13,947,272|347,665||14,294,937|
##
|ANALYSIS OF GOVERNANCECOSTS|||
|---|---|---|
||Total|Total|
||2023t|2022
€|
|Trusteemeetings
Audit& accountancy fees
Legalandprofessional fees
Companysecretarialcosts
Support costs|4,376
38,100
41,968
11,401
111,207|2,740
124,074
4,595
13,200
89,592|
||207,052|234,201|
##
##
##
|
activities on an actualexpenditur|
ebasis, for theyearto 31 March202|
3isshownbelo|
w.|
|---|---|---|---|
|Gost Type|Fundraising
activities
2023
€[|Gharitable
activities
2023|Total
allocated
2023
c|
|Staff costs||592,085|592,085|
|Administration||56,569|56,569|
|Premises||473,198|473,198|
|TravelCosts||2,072,958|2,072,958|
|||3,194,810|3,194,810|
##
|Yearto 31March2022||||
|---|---|---|---|
||Fundraising|Gharitable|Total|
||activities|activities|allocated|
||2022|2022|2022|
|Cost Type|c|€|g|
|Staff costs||143,089|143,089|
|Administration||71,096|71,096|
|Premises||1,544,825|1,544,825|
|TravelCosts||426,996|426,996|
|||2,186,006|2,186,006|
##
##
##
##
||2023
o/o|2023
I|%
2022|€
2022|
|---|---|---|---|---|
|AccommodationBased|76|2,428,056|70|1,530,204|
|CommunityBased
Self Directed Support|16I|511,170
255,585|20
10|437,201
218,601|
||100|3,194,810|100
::|2,186,006|
|ANALYSISOF STAFF COSTS|||||
||||2023|2022|
||||I|€|
|Wagesandsalaries|||9,614,607|9,389,688|
|Social security costs|||816,467|742,990|
|Otherpensioncosts|||289,801|298,849|
|Agencystaff|||781,790|585,037|
||||11,502,665|11,016,564|
##
|The number of employeeswhoseannualemolumen|ts were Ê60,000ormore were:||
|---|---|---|
||2023|2022|
||Number|Numbe|
|t60,000- Ê69,999|1|1|
|870,000 - €79,999|2|2|
|Ê90,000 -€89,999|2|2|
|f90,000-Ê99,999|1||
##
##
|The average monthly number of employees during they|earwas||
|---|---|---|
||2023|2022|
||Number|Number|
|Housing/careservices/catering|414|433|
|Support services
Management & administration|t8
l0|15
I|
||442|457|
##
##
##
|MOVEMENT IN NET FUNDS FOR THEYEAR|||
|---|---|---|
||2023|2022|
|Movement innetfundsis stated after charging:|Ê|Ê|
|Auditorsremuneration|38,230|46,365|
|Depreciation|114,100|155,325|
|Amortisation|2,545||
|Operating lease charge|210,615|309,447|
##
##
##
|INTANGIBLEFIXEDASSETS-GROUP|AND V¡BRANG|E||||
|---|---|---|---|---|---|
|||||Software|Total|
|||||Ê|Ê|
|Gost||||||
|At1April2022
Additions||||91,626|91,626|
|Disposals||||||
|At3lMarch2023||||9l,626|91,626|
|Amortisation||||||
|Al1April2022||||||
|On disposals||||||
|Charge for theyear||||2,545|2,545|
|At3lMarch2023||||2,545|2,545|
|Net bookvalue||||||
|At3lMarch2023||||89,081|89,081|
|At3lMarch2022||||||
|TANGIBLEFIXEDASSETS.GROUP|Freehold||Furniture,Motorvehicles||Total|
||Land and|equipment||||
||buildings
Ê||etc.
ÊÊ||t|
|Gost||||||
|At1April2022|2,257,051||1,027,683|420,123|3,704,857|
|Additions|41,364||35,002||76,366|
|Disposals|||(3,384)||(3,384)|
|At3lMarch2023|2,298,415||1,059,301|420,123|3,777,839|
|Depreciation||||||
|At1April2022
On disposals|811,277||976,179
(3,384)|357,382|2,144,838
(3,384)|
|Charge for theyear|38,417||36,821|38,862|114,100|
|At3lMarch2023|849,694||1,009,616|396,244|2,255,554|
|Netbook value||||||
|At3lMarch2023|1,448,721||49,685|23,879|1,522,285|
|At3lMarch2022|1,445,774||51,504|62,741|1,560,019|
##
##
##
|ANGTBLE FIXEDASSETS- VI|BRANCE(CONTINUED)||||
|---|---|---|---|---|
||Freehold|Furniture,|Motorvehicles|Total|
||Land and|equipment|||
||buildings
t|etc.
tÊ||Ê|
|Gost|||||
|Al1April2022|2,005,739|894,470|420,124|3,320,333|
|Additions|41,364|29,565||70,929|
|Disposals|||||
|At3lMarch2023|2,047,103|924,035|420,124|3,391,262|
|Depreciation|||||
|At1April2022|566,051|844,284|357,382|1,767,717|
|On disposals
Charge for theyear|38,417|33,732|38,862|111,011|
|At3lMarch2023|604,468|
878,016|396,244|1,878,728|
|Netbookvalue|||||
|At3lMarch2023|1,442,635|46,019|23,880|1,512,534|
|At3lMarch2022|1,439,688|50,186|62,742|1,552,616|
##
##
|INVESTMENTS.GROUP|||
|---|---|---|
||2023
t|2022
E|
|Marketvalue,broughtforward
Additions
Disposals
Realisedloss|967,286
624,353
(610,371)
(59,737)|961,099
416,455
(419,563)
(27,211)|
|Unrealised(loss)/gain|(11,976)|36,506|
|Market value,carried forward|909,555|967,286|
|Cash held aspartofportfolio|17,324|18,345|
|Total investments|926,879|985,631|
|Historicalcost|784,354|770,372|
|Market valueanalysedbytype ofinvestment
UKfixedinterest|480,469|495,528|
|UKequities
Overseas equities
Cash|162,783
266,303
17,324|149,011
322,747
18,345|
||926,879|985,631|
|¡NVESTMENTS.VIBRANCE|||
||2023|2022|
||€|Ê|
|Cost, brought forward|972,562|972,562|
|Additions|||
|Disposals|||
|Cost, carried forward|972,562|972,562|
##
##
|The accounts of Haringey Associationfor lndependentLiving
are summarised below:|Limited fortheperiod ended|31 March 2023|
|---|---|---|
|Summarisedbalancesheetat3lMarch2023|2023|2022|
||Ê|Ê|
|Tangible fixed assets|9,047|5,992|
|lnvestments|926,879|985,631|
|Current assets|1,418,962|978,309|
|Current liabilities|(1,230,047)|(988,621)|
|Pensionschemeliability|(24,423)|(38,310)|
||1,100,418|943,001|
|Representedby:|||
|Generalfunds|681,627|524,209|
|Designated funds|387,252|387,252|
|Restricted funds
Share capital|31,532
7|31,532I|
||1,100,418|943,001|
|Summarisedstatement of financial activities
for the period ended3lMarch2023|2023
Ê|2022
t|
|lncome|3,659,288|3,382,489|
|Expenditure|(3,430,088)|(3,331,282)|
|Net(losses)/gainsoninvestments|(71,712)|9,295|
|(Losses)/gains ondefinedbenefit pension scheme|(70)|77,327|
|Surplus fortheperiod|157,418|137,829|
##
##
|TheaccountsofVibrancePathwaysto
summarised below:|Employment|CICfor theper|iod ended31|March2023are|
|---|---|---|---|---|
|Summarisedbalancesheetat 31 March|2023||2023|2022|
||||€|E|
|Tangible fixed assets
Current assets
Currentliabilities|||704
36,273
(715,565)|1,411
34,045
(648,840)|
||||(678,588)|(613,384)|
|Represented byprofitandlossaccount|||(678,588)|(613,384)|
|Summarisedprofitand lossaccount
for theperiodended3lMarch2023|||2023
Ê|2022
Ê|
|Turnover
Cost of sales
Administrative expenses
Otherincome|||14,784
(5,833)
(95,851)
21,696|3,876
(2,159)
(103,622)
53,392|
|Loss fortheperiod|||(65,204)|(48,513)|
|r8.sTocK|Group
2023
Ê|Group
2022
E|Vibrance
2023t|Vibrance
2022
î.|
|Goods forsale|561||||
|I9.FINANCIALINSTRUMENTS|Group
2023|Group
2022|Vibrance
2023|Vibrance
2022|
||Ê|Ê|Ê|Ê|
|Financial assets measuredat
amortised cost|3,973,867|3,562,582|3,710,094|3,170,901|
|Financial liabilitiesmeasuredat
amortised cost|8,061,859|4,831,873|7,649,147|4,155,176|
##
|20.DEBTORS|Group
2023|Group
2022|Vibrance
2023|Vibrance
2023|Vibrance
2022|
|---|---|---|---|---|---|
||Ê|Ê||Ê|Ê|
|Contract income due|3,119,202|2,470,069|2,209,667||1,904,794|
|Loans to subsidiary companies||||792,458|306,831|
|lnterest freestaffloans|16,888|20,203||16,888|20,203|
|Other debtors|837,777|1,072,310||691,081|939,073|
|Prepayments andaccruedincome|142,980|145,573||127,702|136,920|
||4,116,847|3,708,155|3,837,796||3,307,821|
|Amounts falling dueaftermore than oneyear:||||||
||Group|Group|Vibrance||Vibrance|
||2023|2022||2023|2022|
||Ê|e||Ê|Ê|
|lnterest freestaffloans|8,1l8|I0,269||
8,118|
10,269|
|21.CREDITORS:AMOUNTS FALLINGDUEIN|Group|Group|Vibrance||Vibrance|
|ONEYEAR|2023
Ê|2022t||2023
Ê|2022
E|
|Trade creditors|528,785|495,613||412,515|383,633|
|Charges-creditbalances|221,473|261,429||58,201|109,822|
|Taxes and social security costs|379,062|205,797||346,471|165,248|
|Other creditors|6,954,300|3,531,073|6,933,442||3,371,564|
|Accruals anddeferredincome|357,301|371,609||244,989|290,157|
|Conduitfunds(seebelow)||172,149||||
||8,440,921|5,037,670|7,995,618||4,320,424|
|inconduitfundsduring theyearare a|
s follows:||||
|---|---|---|---|---|
||Group|Group|Vibrance|Vibrance|
|GONDUIT FUNDS|2023|2022|2023|2022|
||Ê|Ê|€|Ê|
|Funds brought forward|172,149|172,149|||
|Funds received|||||
|Funds disbursed|(172,1491||||
|Balance carried forward||172,149|||
##
##
|Theincomefunds include restrictedfunds comp
andgrantsheld ontrust forspecificpurposes:|rising the following unexpendedbalancesofdo|nations|
|---|---|---|
||Movement infunds||
||Balancelncoming OutgoingBalanceat
atIAPril
3lMarch
2022
2023||
||Ê€€Ê||
|LandlordContributiontooffice refurbishment|3,827|3,827|
|Vibrancetotalrestrictedfunds|3,827|3,827|
|MentalHealthServices|31,532|31,532|
|Group total restrictedfunds|35,359|35,359|
##
||||Movement infunds|||
|---|---|---|---|---|---|
||Balance
atIApril
2022|lncoming|OutgoingTransfers||Balanceat
3lMarch
2023|
||I|€|€|Ê|€|
|Employmentcontracts
Residentparticipation/welfare|99,869
20,503||||89,869
20,503|
|Furniture replacement|23,419||||23,419|
|Houses maintenance|74,415||||74,415|
|Vibrance total designatedfunds|208,206||||208,206|
##
##
|DESTGNATEDFUNDS-GROUPA|ND|VTBRANCE(CONTINU|ED)||
|---|---|---|---|---|
||||Movement infunds||
||Balancelncoming
atIApril||OutgoingTransfers|Balanceat
3lMarch|
|||2022||2023|
|||ÊÊÊÊ||t|
|Vibrancetotal designatedfunds||208,206||208,206|
|Sinking fund/dilapidations||37,252||37,252|
|Service development||350,000||350,000|
|Grouptotal designatedfunds|:|SgS,4Sg||595,458|
##
||General|Restricted|Designated|Total|
|---|---|---|---|---|
||funds|funds|funds||
||€|Ê|Ê|Ê|
|Fund balances at31March2023are|representedby:||||
|lntangible fixed assets|89,081|||89,081|
|Tangible fixed assets|268,148|3,827||271,975|
|lnvestments|539,627||387,252|926,879|
|Current assets|8,574,240|31,532|208,206|8,813,978|
|Creditors: amounts falling due within|||||
|oneyear|(8,440,921)|||(8,440,9211|
|Pensions Liability|(493,423)|||(493,4231|
||536,752 35,359595,4581,167,569||||
||General|Restricted|Designated|Total|
||funds|funds|funds|as restated|
||f|Ê|Ê|€|
|Fund balancesat31 March2022are|representedby:||||
|Tangible fixed assets|305,882|3,827||309,709|
|lnvestments|598,379||387,252|985,631|
|Current assets|6,028,891|31,532|208,206|6,268,629|
|Creditors: amountsfallingdue within|||||
|one year|(5,037,670)|||(5,037,670)|
|Pensions Liability|(1,083,310)|||(1,083,310)|
||812,172 35,359595,4581,442,999||||
##
##
|ANALYSISOFNETASSETS BETW|EENFUNDS-VIBRANCE(CONTINUED)|EENFUNDS-VIBRANCE(CONTINUED)|EENFUNDS-VIBRANCE(CONTINUED)|EENFUNDS-VIBRANCE(CONTINUED)|EENFUNDS-VIBRANCE(CONTINUED)||
|---|---|---|---|---|---|---|
||GeneralRestrictedDesignated
funds
funds
funds
€tÊ|||||Total
Ê|
|Fund balances at31 March2023are|represented by||||||
|lntangible fixed assets
Tangible fixed assets
lnvestments|89,081
258,397
972,562||3,827|||89,081
262,224
972,562|
|Gurrent assets|7,943,002||||208,206|8,151,208|
|Creditors: amountsfallingdue within
oneyear|(7,995,618)|||||(7,995,618)|
|Pensions Liability|(469,000)|||||(469,000)|
||798,424||3,827||208,2061,010,457||
||General|Restricted||Designated||Total|
||funds||funds||funds|as restated|
||Ê||€||Ê|Ê|
|Fund balancesat 31March2022are|representedby:||||||
|Tangible fixed assets
lnvestments|298,479
972,562||3,827|||302,306
972,562|
|Current assets|5,354,908||||208,206|5,563,114|
|Creditors: amountsfallingdue within
oneyear|(4,320,424)|||||(4,320,424)|
|Pensions Liability|(1,045,000)|||||(1,045,000)|
||1,260,525||3,827||208,2061,472,558||
##
##
##
##
##
|RESENTVALUES OFDEFTNEDBENEFITOBL
EFTNED BENEFTTASSET(LlABlLlrY)|TGATION,FAIRVALUE|OFASSETS AND|
|---|---|---|
||31March2023|31Ma¡ch2022|
||(€000s)|(€000s)|
|Fair value ofplanassets|7,193|11,312|
|Present value of defined benefit obligation|8,345|12,761|
|Surplus (deficit) inplan|(t,152\|(1,445)|
|Unrecognised surplus|||
|Defined benefit asset(liability)tobe recognised|(1,152)|(1,449)|
|Deferred tax|||
|Net defined benefit asset (liability)tobe recognised|(1,1521|(1,449)|
##
|ROUPBALANCE SHEETRECONCILIATION-as r|estated||
|---|---|---|
|Net defined benefitassetfliabilitv)tobe recoqnised-
Vibrance SHPS (above table)|(1,152)|(1,44e)|
|Net defined benefit asset(liability)tobe recognised-
VibranceLGPS(page4l)|683|404|
|Net defined benefit asset(liability)tobe recognised-
HAIL (page 44)|(24)|(38)|
|Net defined benefit asset(liability)tobe recognised-
Group|(4s3)|(1,083)|
##
##
##
##
##
##
##
|DEFINEDBENEFIT COSTS RECOGNISEDINSTATEMENT OF F|INANCIAL ACTIVITIES|INANCIAL ACTIVITIES|
|---|---|---|
||PeriodfromIApril||
||2022fo|3lMarch2023|
|||(€000s)|
|Current service costs|||
|Expenses||12|
|Net interest expense||35|
|Losses (gains) on business combinations|||
|Losses (gains) on settlements|||
|Losses (gains) on curtailments|||
|Losses (gains) duetobenefit changes|||
|Defined benefit costs recognised in StatementofFinancial Activities||47|
##
|DEFINEDBENEFIT GOSTS RECOGNISEDINSTATEMENT OF FINANCIAL|ACTIVITIES|
|---|---|
||PeriodfromIApril|
|2022to3lMarch2023||
||(Ê000s)|
|Experience onplanassets(excludingamounts included in net interest cost)-gain (loss)|(4,631)|
|Experience gains and lossesarisingontheplanliabilities-gain (loss)|270|
|Effect of changesinthe demographic assumptions underlyingthepresentvalue of the defined||
|benefit obligation-gain (loss)|17|
|Effect of changesinthe financialassumptionsunderlying thepresent valueofthedefined||
|benefit obligation-gain (loss)|4,305|
|Total actuarial gains and losses(beforerestriction due to someofthe surplus not being||
|Recognisable) benefit obligation-gain (loss)|(3e)|
|Effect of changesinthe amount of surplusthatis not recoverable(excludingamountsincluded||
|in net interest cost) benefit obligation-gain(loss)||
|Total amount recognised in StatementofFinancialActivities-gain (loss)|(3e)|
##
##
##
|SETS|||
|---|---|---|
||3lMarch2023|31Ma¡ch2022|
||(€000s)|(Ê000s)|
|GlobalEquity|134|2,171|
|AbsoluteReturn|78|454|
|Distressed Opportunities|218|405|
|Credit RelativeValue|27',\|376|
|Alternative Risk Premia|13|373|
|Fund of Hedge Funds|||
|EmergingMarketsDebt|39|329|
|Risk Sharing|530|372|
|Insurance-Linked Securities|182|264|
|Property|310|305|
|lnfrastructure|822|806|
|Private Debt|320|290|
|Opportunistic llliquid Credit|308|380|
|High Yield|25|97|
|Opportunistic Credit||40|
|Cash|52|38|
|Corporate Bond Fund||755|
|Liquid Credit|||
|Long Lease Property|217|291|
|Secured lncome|330|422|
|Liability Drivenlnvestment|3,312|3,157|
|Gurrency Hedging|14|(44)|
|Net CurrentAssets|18|31|
|Total assets|7,193|11,312|
##
##
##
||Number|Total earnings|Average Age|
|---|---|---|---|
|||(8'000s p.a)|(unweighted)|
|Males|5|261|55|
|Females|I|295|51|
|Total|13|557|53|
##
||Number||Pensions
(Ê'000s p.a)|Average Age
(unweighted)|
|---|---|---|---|---|
|Males||14|17|57|
|Females||62|107|53|
|Total||76|124|54|
##
||Number|Pensions|Average Age|
|---|---|---|---|
|||(t'000sp.a)|(unweighted)|
|Males|14|28|64|
|Females|28|75|68|
|Total|42|r03|67|
##
|Return on plan assets (excluding amounts included in net interestcost)|(4,792)|
|---|---|
|lmpactofchanges in share ofassets|161|
|Experience on plan assets(excludingamounts included in net interestcost)|(4,631)|
##
##
##
##
##
|RESENTVALUES OF DEFINEDBENEFIT OBLI
EFTNEDBENEFITASSET(LIABILITY)|GATION, FAIR VALUE|OFASSETS AND|
|---|---|---|
||3lMarch2023|SlMarch2022|
||(€000s)|(t000s)|
|Fair value ofplanassets|1,905|2,021|
|Present value ofdefinedbenefitobligation|1,222|1,617|
|Surplus(deficit)inplan|683|404|
|Unrecognised surplus|||
|Defined benefit asset(liability)toberecognised|683|404|
|Deferredtax|||
|Net defined benefitasset(liability)tobe recognised|683|404|
##
||3lMarch2023|31Ma¡ch2022|
|---|---|---|
|Equities|85ø/o|85o/o|
|Bonds|5%|5o/o|
|Property|8%|9o/o|
|Cash|2o/o|1%|
##
##
##
||Period ended|
|---|---|
||3lMarch2023|
||(€000s)|
|Defined benefit obligation at startofperiod|1,617|
|Current service cost|11|
|Expenses||
|lnterest expense|43|
|Member contributions|2|
|Actuarial losses(gains)due to scheme experience|181|
|Actuarial losses(gains)due to changes in demographic assumptions|(36)|
|Actuarial losses (gains) due tochangesinfinancial assumptions|(53e)|
|Benefits paid and expenses|(57)|
|Liabilities acquiredina business combination||
|Liabilities extinguished on settlements||
|Losses (gains) on curtailments||
|Losses (gains) duetobenefit changes||
|Exchange rate changes||
|Defined benefit obligation at endofperiod|1,222|
##
||Period ended|
|---|---|
||3lMarch2023|
||(€000s)|
|Fair value of plan assets at startofperiod|2,021|
|lnterest income|54|
|Experience on plan assets(excludingamounts included in interest income)-gain (loss)|(124)|
|Employer contributions|I|
|Member contributions|2|
|Benefits paid and expenses|(57)|
|Assets acquired in a business combination||
|Assets distributed on settlements||
|Exchange rate changes||
|Fair value ofplanassets at endofperiod|I,905|
##
##
##
##
##
||Number|Total earnings
(Ê'000sp.a)|Average Age
(unweighted)|
|---|---|---|---|
|Actives|1|25|55|
|Deferred Pensioners|3|26|60|
|Pensioners|3|24|65|
##
##
##
##
|tcont|ri|butions|||||
|---|---|---|---|---|---|---|
|From|1|April2022|to|31|January|83,312,000perannum|
|2025:||||||(payable monthly)|
##
|tcont|ributions|||||
|---|---|---|---|---|---|
|From|IApril2019|to|30|September|î'11,243,000perannum|
|2025:|||||(payable monthlyand increasingby 3% eachon1stApril)|
##
##
|PRESENTVALUES OFPROVISION|||||
|---|---|---|---|---|
||3lMarch
2023
(Ê000s)||31 March
2022
(Ê000s)|3lMarch
2021
(Ê000s)|
|Presentvalue ofProvision||24|38|155|
|RECONCILIATION OFOPENINGAND CLOSINGPROVISIONS|||||
||||Period|Period|
||||Ending
3lMarch|Ending
31 March|
||||2023|2022|
||||(Ê000s)|(Ê000s)|
|Provisionatstart ofperiod|||38|155|
|Unwinding ofthediscountfactor(interest expense)|||1|1|
|DeficitcontributionPaid|||(14)|(3e)|
|Re-measurements -impactof anychangein|assumptions||(1)|(r)|
|Re-measurements-amendmentstothe contribution||||(78)|
|schedule|||||
|Provisionatend ofperiod|||24|38|
|INCOMEAND EXPENDITURE IMPACT|||Period|Period|
||||Ending
3lMarch|Ending
31 March|
||||2023|2022|
||||(€000s)|(Ê000s)|
|lnterestexpense|||1|1|
|Re-measurements-impactof anychangein|assumptions||(1)|(1)|
|Re-measurements-amendmentsto the contribution||||(78)|
|schedule|||||
|Contributionspaidinrespectoffuture service|||||
|Costs recognised inincome and expenditure|account|||(78)|
##
##
##
##
##
|Y"qr
enorng|tt#ål'n
(Ê000s)|3lMarch
2022
(t000s)|3lMarch
2021
(Ê000s)|
|---|---|---|---|
|Year1|14|14|39|
|Year2|12|14|40|
|Year3||12|42|
|Year4|||36|
|Year5||||
|Year6||||
|YearT||||
|YearI||||
|Year9||||
|Year10||||
|Year11|-|||
|Year12||||
|Year13||||
|Year14||||
|Year15||||
|Year16||||
|Year17||||
|Year18||||
|Year19||||
|Year 20||||
##
##
##
|ollowingTUpE transfersfrom
nto theseschemesasfollows:|bothLocal GovernmentandNHSV|ibranceis maintaining contributi|
|---|---|---|
|Scheme Name|Number of ActiveMembers|Emplover GontributionRate|
|LocalGovernmentPension|1|34.50o/o|
|Scheme|||
|NHS Pension Scheme|4|14.38o/o|
##
|At31March 2023thegroup had ann
follows:|ualcommitmentsunder|non-cancellable|operatingleas|es as|
|---|---|---|---|---|
||Group|Group|Vibrance|Vibrance|
||2023|2022|2023|2022|
||Ê|Ê|Ê|f|
|Within oneyear|268,926|190,980|255,591|164,945|
|Betweentwoand fiveyears|647,668|414,225|647,668|400,890|
|ln overfiveyears|820,833|120,833|820,833|120,833|
||1,737,427|726,038|1,724,092|686,668|
##
##
||||2023|2022|
|---|---|---|---|---|
|||||as restated|
||||Ê|Ê|
|Netexpenditure|||1275,4201|(139,531)|
|Depreciationoftangible fixed assets|||114,100|155,325|
|Amortisationofintangiblefixedassets|||2,545||
|Loss on sale of tangible fixed assets||||27,605|
|Net loss/(gain)oninvestments|||71,713|(9,295)|
|Amortisationofgrant||||(8,000)|
|lnvestment income|||(71,153)|(14,811)|
|lncrease in stock|||(56r)||
|lncreaseindebtors|||(408,692)|(335,695)|
|lncreaseincreditors|||3,403,251|2,934,877|
|(Decrease)/increaseindefinedbenefit|pension liability||(230,930)|(329,327)|
||||2,604,953|2,281,148|
|ANALYSISOFCHANGESIN CASHAND CASHEQUIVALENTS|||||
||||2023|2022|
||||t|Ê|
|lncreaseincash|||2,136,096|1,925,149|
|Net bank &cashat1April2022|||2,560,474|635,325|
|Netbank &cashat3lMarch2023|||4,696,570|2,560,474|
|ANALYSISOFNETCASH BALANCES|||||
||AtIApril|Cashflow|Non-cash|At3lMarch|
||2022||changes|2023|
||â|Ê|Ê|€|
|Cashatbankandinhand|2,560,474|2,136,096||4,696,570|
||2,560,474|2,136,096||4,696,570|
##
##
##
##
##
##
||Unrestricted|Designated|Restricted|Total|
|---|---|---|---|---|
||Funds|Funds|Funds||
||Ê|Ê|t|€|
|Previousreportedbalance31March2021|636,662|634,49935,359||1,306,520|
|Actuarialgainson definedbenefitpension|290,000|||290,000|
|lnterest charges onpensionscheme|(14,000)|||(14,000)|
|Restated balance31March2021|912,662 634,49935,359|||1,582,520|
|Previousreportedfundmovem ent 2021122|(228,490)|(39,041)||(267,531)|
|Actuarialgainsondefinedbenefitpension|129,000|||129,000|
|lnterestcharges onpensionscheme|(1,000)|||(1,000)|
|Restatedbalance31March 2022|812,172 595,45835,359|||1,442,989|
##