##
|Trustees' Report||
|---|---|
|Statement ofTrustees'
responsibilities|20|
|Independent
Auditor's
Report to the Trustees ofthe Institution ofChemical Engineers|21|
|Consolidated
statement offinancial activities for the year ended 31December 2022|24|
|Charity statement offinancial activities for the year ended 31December 2022|25|
|Balance sheets at 31December 2022|26|
|Consolidated
cash flow statement for the year ended 31December 2022|27|
|Charity cash flow statement
for the year ended 31December 2022|27|
|Notes forming part ofthe financial
statements
for the year ended 31December 2022||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|The highes|t|rated stra|te|gic|risks in|2022|which could impact the delivery ofthe strategy are listed below.|
|---|---|---|---|---|---|---|---|
|Risk|||||||Control and Mitigation
Measures|
||||||||Develop and deliver a cohesive and coherent approach
to Volunteer|
|Insufficient||volunteers||to deliver our|||Engageinent
and Volunteer
Management;
identify
all volunteering
roles,|
|objects|||||||put in place process for succession planning,
advertise
all volunteering|
||||||||opportunities
and put in place a mechanism
to recognise our volunteers.|
||||||||Run a full calendar ofmarketing
communication
activities to help existing|
|Membership||lacks diversity|||and||members
progress through a range ofmembership
grades and to recruit|
|growth|||||||new members.
Increased focus on diversity
through
our volunteer|
||||||||engagement
programme
and the development
ofa formalised ED&I|
||||||||positioning
statement.|
||||||||Governance
Panel established
in 2020 to continuously
review and update|
|Governance||structures||do not provide|||governing
documents
and committee
structure.
Review ofScheme of|
|leadership|and decision|||making|||Delegation
in 2023. Establish consistent model for project governance|
||||||||that conforms to best practice.|
|IChemE staff, members,||||volunteers||do|Keep key Stakeholders
informed
and engaged
with the rationale for the|
|not support||transformation|||||need for change and the agreed priorities.|
||||||||Run regular membership
engagement
survey,
including
benchmarking|
|IChemE outputs or benefits|||||are not||performance
against other similar organisations.
Review products and|
|valued by individuals
organisations|||and/or||||services to remain relevant to the breadth
and width ifmembers'
career
stages. Develop better understanding
ofmember engagement
within our|
||||||||new CRM system.|
||||Business Plan sets out a detailed prioritisation
framework
for all essential|
|---|---|---|---|
|Uncontrolled
change impacts
resourcing
and business plan priorities|||and secondary activities, and is split between Business as Usual and
Change activity. New Change proposals are evaluated
by the FIT(Future
Institution
Transformation)
Governance
Board and new Business as Usual|
||||activities are evaluated by the Senior Management
Team.|
|Defined Benefit Pension Scheme|||Latest triennial
valuation
carried out in 2021 snd revised Recovery Plan|
|becomes a
burden|disproportionate|financial|agreed. Maintain regular dialogue with Pension Scheine Trustees.
Demonstrate
suength ofemployer
covenant.
Seek independent
actuarial|
||||advice where necessary.|
||||Address any remaining
weaknesses
in existing processes aspart ofthe|
|Lose the ability to qualify||members|enhancements
to the Application
System in 2023.
Close relationships
and engagement
with the Regulators to ensure ongoing|
||||compliance
is fully understood.|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
||||Notes|Funds|Fuads|2022|Funds|Funds|2021|
|||||f000|f000|f000|f000|f000|f000|
|INCOME||||||||||
|Donations &legacies|||||||26|250|276|
|Charitable
activities:||||||||||
|Qualifying
Chemical Eogmeers||||4,101||4)101|3,904||3,904|
|Operating aIcamed Society forChemical|Enginmrs|||4/84|20|4/04|3,585|20|3,605|
|Excepsiooal eivemmeni
funding|||||||116||116|
|Other trading scliviliesi||||||||||
|Trading opemiions||||193||193|190||190|
|Investments||||64||64|65||65|
|TOTAL INCOME||||8,642|20|8,662|7,886|270|8,156|
|EXPENDITURE ON||||||||||
|Raising funds:||||||||||
|Trading opersuons||||(7()||(71)|(65)||(65)|
|investment
manageioeai
costs||||(66)||(66)|(64)||(64)|
|Charitable
sctivitiesi||||||||||
|Qualifying
Chemical
Engineers||||(3,740)||(3,740)|(3,263)||(3,263)|
|Opmaiing a Learned Society for Chemical Engiaeeis||||(4424)|(265)|(4,589)|(3,881)|(195)|(4,076)|
|TOTAL EXPENDITURE||||(8,201)|(265)|(8,466)|(7873)|(195)|(7,468)|
|Net dosses) / gains on ievesanenss||||(367)||(367)|576||576|
|NET INCOME / (EXPENDITURE)||||74|(245)|(171)|1,189|75|1,264|
|Transfer between funds:|||/5|||||||
|Other recognised gains / Fosses):||||||||||
|Actuarial
gains on defined benefit pension schemes||||1,366||1466|1,191||1,191|
|Exchange gains
/ (losses) aiisiog from miianslatiou
foreign branches S.subsidiaries||of||114||114|(110)||(110)|
|NET MOVEMENT IN FUNDS||||1/54|(245)||2270|75|2,345|
|Fund balsnms
bmugbi
forward at 1 January||||3,256|1,314|4,570|986|1,239|2,225|
|Fund balances carried forward at 31||||||||||
|December||||4,810|1,069|5,879|3,256|1,314|4,570|
##
|Charity statement o|ffinan|cial|activities fo|r the year|ended|31Decemb|er 2022||
|---|---|---|---|---|---|---|---|---|
|||No/rr|Unrestricted
Funds|Restricted
Funds|Total
2022|Unrestricted
Funds|Restricted
Funds|Total
2021|
||||8000|0000|8000|1000|f000|f000|
|INCOME|||||||||
|Donations &legacies||||||26|250|276|
|Gig aid from subsidiary
company|||122||122|125||125|
|Charitable
activities:|||||||||
|Qualifying
Chemical
Engineers|||4,100||4,100|3,903||3,903|
|Operatiag
a Learned Society for Chemical|Engineers||4,226|20|4,246|3,531|20|3,551|
|Exceptional governmeat
fuoding||||||116||116|
|Investments||5|64||64|65||65|
|TOTAL INCOME|||8/ 12|20|8,532|7,766|270|8,036|
|EXPENDITURE ON|||||||||
|Raising funds:|||||||||
|lnve
atm eat management
costs|||(66)||(66)|(63)||(63)|
|Charitable
activities:|||||||||
|Qualifying
Chemical Engmeers|||(3,671)||(3,671)|(3,243)||(3343)|
|Operating
a Leamcd Society for Chemical|Engineers||(4,267)|(265)|(4,532)|(3,802)|(195)|(3,997)|
|TOTAL EXPENDITURE|||(8,004)|(265)|(8,269)|(7,108)|(195)|(7,303)|
|Net Oosses) / gains on investments|||(36'/)||(367)|576||576|
|NET INCOME/(EXPENDITURE)|||141|(245)|(104)|1,234|75|1,309|
|Transfer behveen funds:||/5|||||||
|Other recognised gains / gosses)r|||||||||
|Actuarial gains on defined heneOt pension|schemes||1466|||1,191||1,191|
|Exchange gains / gasses) arising from reiranslaoon of
foreign bunches &subsidiaries|||108||108|(103)||(103)|
|NET MOVEMENT IN FUNDS|||1,615|(245)|1@70|2,322|75|2397|
|fund balances brought forward st 1January|||3,091|1,314|4,405|769|1339|2,008|
|Fund balances carried forward at31|||||||||
|December|||4,706|1,069|5,775|3,091|1314|4,405|
##
||||1Vote||Group|||Charity||
|---|---|---|---|---|---|---|---|---|---|
|||||2022||2021|2022||2021|
|||||f000||f000|8000||f000|
|Fixed assets||||||||||
|Tangible assets||||647||721|647||721|
|Investments||||6,319||6,678|6,319||6,678|
|||||6,966||7,399|6,966||7,399|
|Current assets||||||||||
|Debtors|||12|1,201||873|1,397||892|
|Cash at bank and in hand||||3320||3,319|2&933||3,052|
|||||4,521||4,192|4,330||3,944|
|Creditors: Amounts|falliag due within one year||13|(2,687)||(2,497)|(2,600)||(2,414)|
|Net current assets||||1,834||1,695|1,730||1,530|
|||||8,800||9,094|8,696||8,929|
|Pension scheme funding||deficit||(2,921)||(4,524)|(2&921)||(4,524)|
|Total net assets after pension deficit||||5,879||4,570|5,775||4,405|
|Income Funds||||||||||
|Unrestricted
funds||||||||||
|General funds||||7,381||7,280|7&277||7,115|
|Designated
funds|||16|350||500|350||500|
|Pension reserve|||21|(2,921)||(4,524)|(2,921)||(4,524)|
|||||4,810||3,256|4,706||3,091|
|Restricted funds|||15|1,069||1,314|1,069||1,314|
|Total funds||||5,879||4,570|5,775||4,405|
##
##
|Consolidated
cash flow s|t|ate|ment
fo|r|the year ended 31December|2022||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
||||||Note|8000|fOOO|
|Cash flows from operating
activities|||||/9|(74)|563|
|Cash flows from investing
activities:||||||||
|Dividends
and interest from investments|||||5|64|65|
|Purchase offixed asset investments
Purchase ofproperty,
plant &equipment|||||//
/0|(64)
(3)|(65)|
|Net cssb provided
by / (used in) investing|||activities|||(3)||
|Change in cash and cash equivalents||in the repornng|||period|(77)|563|
|Cash and cash equivalents
at the start ofthe reporting|||||period|3/19|2,819|
|Change ln cash and cash equivalents||due|to exchange||rate movements|78|(63)|
|Cash and cash equivalests
st the end||ofthe reportiag|||period|3,320|3,319|
|Charity cash flow statement|||for the year ended 31December 2022|||||
|||||||2022|2021|
||||||Note|8000|OOOO|
|Cash flows from operating
activities|||||/9|(154)|545|
|Cash tlows from investing
activities:||||||||
|Dividends
and interest from investments|||||5|64|65|
|Purchase offixed asset investments
Purchase ofproperty,
plant &equipment|||||I/
/0|(64)
(3)|(65)|
|Net cash provided
by /(used in) investing|||activities|||(3)||
|Change
in cash and cash equivalents|in tbe reporting|||period||(157)|545|
|Cash and cash equivalents
st the start||oftbe reporting|||period|3,052|2,521|
|Cbsage in cash and cash equivalents|due||to exchange|rate movements||38|(14)|
|Cash and cash equivalents
at the end|ofthe reporting|||period||2,933|3,052|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Freehold|buildings|5%|
|---|---|---|
|Leasehold|buildings|20%|
|Office equipment||15%|
|Computer|software|33%|
##
##
##
##
##
##
##
##
##
##
|The sum|mary
financial perfonnanc|e
and positio|n ofthe sub|sidiaries
is s|hown below:|||
|---|---|---|---|---|---|---|---|
|||IChemE|IChemE in|IChemE in|IChemE|2022|2021|
|||Ltd|New|Singapore|Malaysia|Total|Total|
||||Zealand|Ltd|Sdn Bhd|||
|||f000|f000|f000|f000|f000|f000|
|Income||193|20||38|251|284|
|Expenditure||(71)|(35)||(90)|(196)|(180)|
|Net income 1(expenditure)||122|(15)||(52)|55|104|
|Amount|gift aided to the Institution|(122)||||(122)|(125)|
|Retained|in subsidiary||(15)||(52)|(67)|(21)|
|Balance|sheets|||||||
|||IChemE|IChemE in|IChemE in|IChemE|2022|2021|
|||Ltd|New|Singapore|Malaysia|Total|Total|
||||Zealand|Ltd|Sdn Bhd|||
|||f000|f000|f000|f000|f000|f000|
|Fixed assets||||||||
|Current assets||319|154||88|561|403|
|Current liabilities||(319)|(25)||(II3)|(45'/)|(238)|
|Net current assets|||129||(25)|104|165|
|Total net|assets||129||(25)|104|165|
##
|3
Income from donatious
and legacies|||
|---|---|---|
|Group and Charity|2022|2021|
||f000|f000|
|Donations (restricted fund)||250|
|Legacies||26|
|||276|
##
|4
Analysis ofincome from charita|ble
activitie|s|s|||
|---|---|---|---|---|---|
|||Group||Charity||
|||2022|2021|2022|2021|
|||8000|f000|8000|6000|
|Quehfying
Chemical Engineersr||||||
|Membership
subscription
and accreditation|fees|4,098|3,904|4,097|3,903|
|Operating eLearned Societyfor Chemical|Engineers:|||||
|Journals &publications||1369|1,585|1)369|1,585|
|Knowledge
communities||364|365|353|362|
|Conferences,
seminars
gr, events||597|207|595|201|
|Provision oftraining||1,943|1,421|1,898|1,376|
|Other income||14|7|14|7|
|Subscriptions
to technical centres (restricted|funds)|20|20|20|20|
|Exceptional government funding:||||||
|Coronavirus
Job Retention Scheme (UK)|||6||6|
|Government
wage subsidy schemes (non-UK)|||110||110|
|||8&405|7,625|8,346|7,570|
|During 2021,the Institution
was eligible to|claim funding|in the year from government|support schemes|in response to Covid-19.||
|No Further income was received in 2022.||||||
|5
Investment
income||||||
|Group and Charity||||2022
5000|2021
f000|
|Interest receivable||||3|15|
|Dividends
receivable||||61|50|
##
|Group||||Direct|Support|2022|2021|
|---|---|---|---|---|---|---|---|
|||||activity|costs|Total|Total|
|||||costs||||
|||||5000|8000|8000|f,000|
|Qualifying|Chemical|Engineers||2,414|1,326|3,740|3,263|
|Optsating|aLearned|Society for Chemical|Engineem|3,291|1,298|4,589|4,076|
|||||5,705|2,624|8,329|7,339|
|6714400|0)andf23|0000 was restricted (2021:5195000).|||||
|---|---|---|---|---|---|---|
|Charity|||Direct|Support|2022|202]|
||||activity|costs|Total|Total|
||||costs||||
||||0000|XOOO|8000|6000|
|Qualifying|Chemical|Engineers|2,376|1,295|3,671|3,243|
|Operating|aLearned|Society for Chemical Enginsxsv|3,252|1,280|4,532|3,997|
||||5,628|2,575|8,203|7,240|
##
||Group||Charity||
|---|---|---|---|---|
||2022|2021|2022|2021|
||f000|8000|f000|f000|
|Depreciation|77|77|77|77|
|Operating
leases:|||||
|Plant and machinery|10|9|10|9|
|Land and buildings|74|75|60|61|
|Exchange rate differences|(53)|51|26|(18)|
##
|(202lt 52,|394,000). These are analysed as:|||||
|---|---|---|---|---|---|
|||Group||Charity||
|||2022|2021|2022|2021|
|||8000|f000|f000|f000|
|Staffcosts||1,062|968|1,028 .|922|
|Finance||414|307|410|317|
|IT||476|522|474|534|
|Facilities &|HR|523|521|512|502|
|Management|&Governance|149|76|151|51|
|||2,624|2,394|2,575|2,326|
||||||Group||Charity||
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
||||||f,000|f000|f000|f.000|
|Qualifying||Chemical|Engineers||1&326|1,184|1,295|1,143|
|Operating||aLearned|Society for Chemical Engineers||1&298|1,210|1,280|1,183|
||||||2,624|2,394|2,575|2,326|
|Analysis||ofgovernance||costs:|||||
||||||Group||Charity||
||||||2022|2021|2022|2021|
||||||f000|f000|f000|f000|
|External|audit||||41|36|35|31|
|General meeting costs|||||9|5|7|5|
|Legal &professional|||fees||27|22|26|13|
|Electoral|services||||3|3|3|3|
||||||80||71|52|
##
|8
Analysis of|trustee remuneratio|n
and expenses|||
|---|---|---|---|---|
|Group and Charity|||2022
f000|2021
f000|
|Expenses paid to or|on behalf ofsix (202k nil) Trustees in nnpect||19||
|oftravel, subsistence,|and acconunodation|costs|||
##
||||||Group||Charity||
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
|Qualifying|Chemical||Engineers||33|34|30|30|
|Operating a||Learned|Society for Chemical|Engineers|33|34|33|33|
|Management||and Adminisuation|||20|19|18|18|
||||||86|87|81|81|
|The aggregate payroll|costs ofthese persons were as fo|llows:||||
|---|---|---|---|---|---|
|||Group||Charity||
|||2022|2021|2022|2021|
|||8000|f000|8000|f000|
|Wages and salaries||3,408|3,293|3,350|3,234|
|Social security costs||327|285|326|284|
|Pension scheme contributions||300|282|295|276|
|Defined benefit pension|scheme operating costs|81|79|81|79|
|Employee benefits||64|49|64|49|
|||4,180|3,988|4&116|3,922|
|Group||Charity||
|---|---|---|---|
|2022|2021|2022|2021|
##
|Group|Freehold|Short|Office|Computers|Total|
|---|---|---|---|---|---|
||Property|leasehold|equipment|||
||f000|property
f000|f000|f000|f000|
|Cost or valuatioa||||||
|At beginning ofyear|1,800|19|141|31|1,991|
|Additions||||3|3|
|Disposals||(19)||(3)|(22)|
|At end ofyear|1,800||141|31|1,972|
|Depreciatioa||||||
|At beginning ofyear|1,079|19|141|31|1,270|
|Charge for the year|76|||1|77|
|Disposals||(19)||(3)|(22)|
|At end ofyear|1,155||141|29|1325|
|Nct book value||||||
|At 31December 2022||||||
|At 31December 2021|721||||721|
|Charity|Freehold|Short|Oflice|Computers|Total|
||Property|leasehold|equipment|||
||f000|property
f000|f000|f000|f000|
|Cost orvaluation||||||
|At beginning ofyear|1,800|19|141|31|1,991|
|Additions||||3|3|
|Disposals||(19)||(3)|(22)|
|At end ofyear|1,800||141|31|1,972|
|Depreciation||||||
|At beginning
ofyear|1,079|19|141|31|1,270|
|Charge for the year|76|||1|77|
|Disposals||(19)||(3)|(22)|
|At end ofyear|1,155||141|29|1,325|
|Nel Dock value||||||
|At 31December 2022|645||||647|
|At 31December 2021|721||||721|
|11
Fixed asset investments|||
|---|---|---|
|Group aud Charity|2022|2021|
||8000|6000|
|Fair value at 1 January|6,678|6,090|
|Acquisitions
at cost|2,935|1,832|
|Proceeds ofdisposals|(2,927)|(1,820)|
|Net (losses) Igains on revaluation|(367)|576|
|Fair value at31December|6,319|6,678|
|Historical costat31December|3,739|3,731|
|Group aud Charity|2022|2021|
|---|---|---|
||f000|f000|
|Equities|2,639|4,048|
|Fixed Interest|1,828|1,336|
|Other|1,563|1,001|
|Cash|289|293|
##
##
|12
Debto|rs|||||
|---|---|---|---|---|---|
|||Group||Charity||
|||2022|2021|2022|2021|
|||8000|f000|8000|f000|
|Trade debtors||367|256|263|200|
|Amount
due|trom subsidiaries|||351|141|
|Other debtors||8|1|4|1|
|Prepaymeuts|and accrued income|826|616|779|550|
|||1,201|873|1497|892|
##
|13
C|reditors: amounts
falling due within|one year||||
|---|---|---|---|---|---|
|||Group||Charity||
|||2022
f000|2021
f000|2022
f000|2021
fOOO|
|Trade creditors||384|465|367|461|
|Amounts|due to subsidiaries|||10|7|
|Other creditors||292|377|292|362|
|Taxation|and social security|199|120|185|108|
|Acciuals||412|230|392|210|
|Deferred|income|I&400|1,305|1,354|1,266|
|||2,687|2,497|2,600|2,414|
##
|Total f|uture commitments
under non-cancellable|operating
leases are as follows:||||
|---|---|---|---|---|---|
|Group||2022||2021||
|||Land sad|Other|Land sad|Other|
|||buildings
f000|f000|Buildings
f000|fOOO|
|Amounts|falling due:|||||
|In less|than one year|38||71||
|In the second to filth years inclusive||||34||
|Over five years||||||
|||38|8|105|17|
|Charity||2022||2021||
|---|---|---|---|---|---|
|||Land aad|Other|Land and|Other|
|||buildings
f000|f000|Buildings
f000|f000|
|Amounts|falling due:|||||
|In less|than one year|34||61||
|In the second to fifth years inclusive||||34||
|Over five years||||||
|||34||95|17|
##
##
|16
Analysis ofmovements
in unrestricted
d|esignated
funds|||
|---|---|---|---|
|Group aad Charity|Future|Institution|Total|
||Transformation|Programme||
|||5000|OOOO|
|At I January 2022||500|500|
|Expenditure||(500)|(500)|
|Transfer between funds||350|350|
|At31December 2022||350|350|
##
##
|||Net amount recharged
the charity in the|from
year|/ (to)|Bslaace
included|outstandiag
at year end
in debtors / (creditors) for
the charity|outstandiag
at year end
in debtors / (creditors) for
the charity|
|---|---|---|---|---|---|---|---|
|||2022||2021||2022|2021|
|||6000||f000||5000|f000|
|IChemE|Ltd|192||25||299|107|
|IChemE|in Malaysia|||(61)||||
|IChemE|in New Zealand|(11)||(9)||(33)|(22)|
|IChemE|in Singapore Ltd|||(13)||||
|IChemE|Malaysia Sdn Bhd|15||28||43|28|
|||196||(30)||309|113|
##
|Fund balances at 31D|ecember 2022 are represente|d
by:|||
|---|---|---|---|---|
|Group||Unrestricted|Restricted|Total|
|||funds|Funds||
|||5000|6000|5000|
|Tangible fixed assets||647||647|
|Investments||6,319||6,319|
|Pension scheme funding
Net current assets|deficit|(2,921)
765|],069|(2,921)
1,834|
|Total uct assets||4,810|1,069|5,879|
|Charity||Unrestricted|Restricted|Total|
|||funds|Funds||
|||6000|5000|5000|
|Tangible fixed assets||647||647|
|Investments||6,319||6,319|
|Pension scheme funding|deficit|(2,921)||(2,921)|
|Net current assets||661|1,069|1,730|
|Total net assets||4,706|1,069|5,775|
##
|19
Reconciliation ofnet move|ment|in fun|d|s to net cash flow from operating
act|ivities||
|---|---|---|---|---|---|---|
|Group|||||2022|2021|
||||||f000|f000|
|Net (expenditure)
/ income|||||(171)|1,264|
|Adjustments
for:|||||||
|Depreciation
on tangible fixed assets|||||77|77|
|Losses / (gains) on investments|||||367|(576)|
|Dividends
and interest fiom investments|||||(64)|(65)|
|Investment
management
fees|||||56|53|
|Difference between pension charge and cash||contribution|||(237)|(204)|
|(Increase)/decrease
in debtors|||||(328)|(207)|
|Increase/(decrease)
in creditors|||||190|268|
|Exchange gains / (losses) arising from retranslation||||offoreign branches &subsidiaries|114|(110)|
|Change in cash and cash equivalents|due to|exchange rate movements|||(78)|63|
|Net cash (used ia) / provided
by operating||activities|||(74)|563|
|Charity|||||2022|2021|
||||||f000|f.000|
|Net (expenditure)
/ income|||||(104)|1,309|
|Adjustments
for:|||||||
|Depreciation
on tangible fixed assets|||||77|77|
|Losses / (gains) on investments|||||367|(576)|
|Dividends
and interest from investments|||||(64)|(65)|
|Investment
management
fees|||||56|53|
|Difference between pension charge and cash||contribution|||(23'7)|(204)|
|(Increase)/decrease
in debtors|||||(505)|(153)|
|increase/(decrease)
in creditors|||||186|193|
|Exchange gains / (losses) arising from retranslation|||offoreign branches &subsidiaries||108|(103)|
|Change in cash and cash equivalents|due to|exchange||rate movements|(38)|14|
|Net cash (used in) / provided
by operating||activities|||(154)|545|
##
##
##
##
|The major categories of|The major categories of|'assessors asfollows:|||
|---|---|---|---|---|
|Asset category|||2022|2021|
||||5000|f000|
|Liability Driven Investment||(LDI)|3,470|3,784|
|Multi-asset|Funds||3,562|6,830|
|Cash|||34|80|
|Total|||7,066|10,694|
##
|Amounts
recognised in the balance sh|eet:|||
|---|---|---|---|
|||2022|2021|
|||f000|f000|
|Fair value ofassets||7,066|10,694|
|Present value offunded obligations||(9,987)|(15,218)|
|(Deficit) in scheme||(2,921)|(4,524)|
|Amounts
recognised in the stutement|offinancial activities over theyear;|||
|||2022|2021|
|||5000|f000|
|Interest on liabilities||270|203|
|Interest on assets||(191)|(131)|
|Total||79|72|
|Remeasurements
over the year:||||
|||2022|2021|
|||6000|f000|
|Loss / (gain) on assets in excess ofinterest||3,643|(141)|
|Experience losses / (gains) on liabilities||459|(264)|
|Losses / (gains) from changes to demographic|assumptions||53|
|(Gains) / losses from changes to financial assumptions||(5,468)|(839)|
|Total||(1,366)|(1,191)|
|The change in the value ofthe assets over theperiod toast|||
|---|---|---|
||2022|2021|
||8000|f000|
|Fair value ofassets at beginning ofperiod|10,694|10,486|
|Interest on assets|191|131|
|Institution
contributions|316|276|
|Benetits paid|(492)|(340)|
|Return
on assets less interest|(3,643)|141|
|Value ofassets at end ofperiod|7,066|10,694|
|The change in the value ofthe defined benefit liabiliues over theperiod roast|||
||2022|2021|
||0000|f000|
|Value ofliabilities at beginning ofthe period|15,218|16,405|
|Past service cost|||
|Interest on liabilities|270|203|
|Benefits paid|(492)|(340)|
|Experience loss / (gain) on liabilities|459|(264)|
|Changes to demographic
assumptions||53|
|Changes to financial
assumptions|(5,468)|(839)|
|Value ofliabilities at end ofthe period|9,987|15,218|
||2022|2021|
||0000|f000|
|Actuarial
gains / Bosses)|1,366|1,191|