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2023-03-31-accounts

Page
Report ofthe Trustees 2 to 10
Statement ofTrustees Responsibilities
Report ofthe Independent
Auditors		 12to 14
Consolidated Statement
of Financial Activities		 15
Consolidated and Charity Balance Sheet 16
Consolidated Cash Flow Statement 17
Notes to the Cash Flow Statement 18
Notes to the Financial Statements 19to 41

31.3.23 31.3.22
Unrestricted Designated Restricted Totalfunds Totalfunds
fund fund funds
Notes 6 E E
INCOME AND ENDOWMENTS
FROM '
Donations
and legacies		 2 921,915 244,428 655,059 1,821,402 1,825,154
Charitable
activities		 5
Education 460
Land Management
Grants		 287,582 25,815 313,397 288,863
Education
ft Communication		 11,465 124,560 136,025 139,673
Wider Countryside 59,178 5,351 102,137 166,666 141,080
Other trading
activities		 352,645 352,645 285,796
Investment
income		 83,475 83,475 78,386
Other income 42,769 42,769 33,422
Total (p759,029 249,779 907,571 2,916,379 2,792,834
EXPENDITURE ON
Raising funds 724,346 60,585 785,371 812,638
Charitable
activities
Education
ft Communication		 144,047 10,391 158,113 312,551 220,209
Wider Countryside
Reserves		 182,383
766,174		 ~46 515
386		 170,241
51,229		 353,139
~863 789		 370,549
766,132
Total 1,816,950 117,877 380,023 2,314,850 2,169,528
NET INCOME/(EXPENDITURE) (57,921) 131,902 527,548 601,529 623,306
before gains/(losses)
Net gains/(losses)
on		 (274,626) (274,626) (43,089)
investments
NET INCOME/(EXPENDITURE) (57,921) (142,724) 527,548 326,903 580,217
Transfers
between
funds		 22 22,864 ~20 221 ~43,085)
Other recognised
gains/(losses)
Actuarial
gains/(losses)
defined benefit schemes		 on ~43413
Net Movement
in Fund		 ~35 057 ~(22 503 484 463 326 903 623 630
RECONCILIATION
OF FUNDS
Totalfunds
brought
forward
As previously
reported		 5,536,914 4,017,575 7,756,339 17,310,828 16,687,198
TOTAL FUNDS CARRIED
FORWARD ~5 501 857 ~3 895 072 ~8 240,802 17,637,731 17,310,828

Group Charity
31.3.23 31.3.22 31.3.23 31.3.22
Notes E E E E
FIXED ASSETS
Tangible assets 15 13,729,315 13,124,415 13,728,629 13,123,501
Investments 16 3,268,658 3,557,130 3,278,658 3,567,130
16,997,973 16,681,545 17,007,287 16,690,631
CURRENT ASSETS
Stocks 17 3,224 34,460
Debtors 18 386,653 266,364 444,422 314,690
Cash at bank and in hand 400,543 513,952 311,120 484,959
790,420 814,776 755,542 799,649
CREDITORS
Amounts
faging due within one
year 19 (150,662) (185,493) (127,512) (180,295)
NET CURRENT ASSETS 639,758 629,283 628,030 619,354
TOTAL ASSETS LESS CURRENT
LIABILITIES 17,637,731 17,310,828 17,635,317 17,309,985
PENSION LIABILITY 23
NET ASSETS 17,637,731 17,310,828 17,635,317 17,309,985
FUNDS 22
Unrestricted
funds		 9,396,929 9,554,489 9,240,059 9,570,900
Restricted
funds		 8,240,802 7,756,339 8,215,258 7,739,085
TOTAL FUNDS 17,637,731 17,310,828 17,635,317 17,309,985

31.3.23 31.3.22
Notes E E
Cash flows from operating activities:
Cash generated
from operations		 202,231 545,721
Net cash provided
by (used in) operating		 202,231 545,721
activities
Cash flows from investing activities:
Investment
income		 83,475 78,386
Purchase of tangible
fixed		 assets (630,308) (994,541)
Purchase of fixed asset investments (230,686)
Sale of tangible
fixed assets		 2,250
Sale of fixed asset investments ~231 193 245,065
Net cash provided
by (used in) investing		 activities ~315,640) (899,526)
Change ln cash and cash equivalents in the
reporting
period		 (113,409) (353,804)
Cash and cash equivalents at the beginning ofthe
reporting
period		 ~513952 ~867 756
Cash and cash equivalents at the end of the
reporting
period		 400,543 513,952

RECONCILIA TION
OF NET INCOME/(EXPEN		 DIT URE)
TO NET CASH FLOW FR		 OM OPERATING ACTIVI TIES
31.3.23 31.3.22
E 6
Net income/(expenditure)
for the reporting
statement
offinancial activities)		 period (as per the 326,903 623,630
Adjustments for:
Depreciation charges 25,407 27,346
Losses/(gain) on investments 274,626 43,089
Investment income (83,475) (78,386)
Movements in settlements
pending		 (217,346) (7,232)
(Increase)
/		 decrease
in stocks		 31,236 20,597
(Increase)
/		 decrease
in debtors		 (120,289) (93,369)
(Decrease)/increase
in creditors		 (34,831) 10,046
Net cash provided
by (used in) operating		 activities 202,231 545,721

2. DONATIONS
AND		 LEGACIES LEGACIES
31.3.23 31.03.22
E
Restricted
Fund
Other Donations Received 619,025 557,666
Grants 36,034 127,640
Designated
Legacies Received 224,982 218,533
Other Donations Received 5,672 25,000
Grants 13,773 25,267
Unrestricted
Fund
Membership
giving		 687,978 655,106
Gift aid 156,142 145,732
Other Donations
Grants		 Received 72,378
5,418		 37,629
~32 581
1,821,402 1,825,154
Grants received, included in the above, are as follows:
31.03.23 31.03.22
E E
Restricted
Fund
Nationai
Heritage		 36,034
RSWT 10,000
Rowlands
Trust		 3,000
Banister/Ludtow Trust 112,500
Severn Trent Water 2 145
36 534 127646
Designated
WCC 3,023
JEC Electrical - Ozev Grant 10,750
Severn Trent Water 25
67
13773 25 267
Unrestri«ted
Fund
The Norman
ft Evelyn Proffitt Trust		 4,805
Wychavon
DC		 18,000
Severn Rivers Trust 7,500
WWC 4,668
Other
« E1,000		 750 2 276
5 ~32 581
Total grant income 55 22 ~185488

OTHER TRADING AC TIVITIES
31.3.23 31.3.22
E E
W.N.C.T. Enterprises Ltd 276,733 229,446
Timber sales 67,764 48,247
Sundry Income 8,148 8,103
3~52 645 285,796

31.3.23 31.3.22
E E
Income from Stock Exchange Investments - UK 83,475 ~78 386
83,475 78,386
31.3.23 31.3.22
Activity E E
Education Education 460
Land Management Grants Land Management Grants 313,397 288,863
Education Education ar Communication 136,025 139,673
Wider Countryside income Wider Countryside ~166 666 141,080
616,088 570,076

OTHER INCOME
31.3.23 31.3.22
E
Gain on sale of tangible fixed assets 2,665
Wider Countryside Team Income 29,235 48,624
Rent Received 13,534 18,283
42 769 ~69 572

for th e Year Ended 31 March e Year Ended 31 March 2023
7. RAISING FUNDS
Raising donations
and		 legacies
31.3.23 31.3.22
E E
Staff costs 152,912 163,437
Repairs and maintenance 79,002 32,443
Membership publications 66,553 56,597
Membership recruitment 150,180 160,589
Membership costs 16,728 22,674
Fundraising and marketing 19,567 36,260
General office costs 52,749 52,997
Depreciation 25,179 26,920
562,870 551,917
Investment management costs
31.3.23 31.3.22
E E
Portfolio management 16,483 13,511
W.N.C.T. Enterprises Ltd 206,018 247,210
Aggregate
amounts		 785,371 812,638

Direct costs Direct costs Support costs Totals
(See note 9)
E E, E
Education ft Communication 312,551 312,551
Wider Countryside 3531139 353,139
Reserves ~651 218 ~212 571 ~863 789
~1,316908 ~212 571 ~1529479
ee the Statement of Financial Activities for the above split between funds.
ANALYSIS OF TOTAL EXPENDITURE
Auditors
Staff remun. Other 31.3.23
costs Depn eration costs
E E E E E
Raising funds 152,912 25,179 384,779 562,870
Investment management 16,483 16,483
costs
W.N.C.T Enterprises Ltd 74,605 228 1,575 129,610 206,018
Charitable activities 919,377 6,565 ~603 537 1,529,479
1~146 894 ~25 407 8,140 1,134,409 2,314,850
SUPPORT COSTS
Charitable Governance
Raising Activities Costs 31.3.23 31.3.22
Funds
E E E E E
Administration
staff wages
General office expenses		 21,872
38
03		 47,390
~95 421		 3,645
7,340		 72,907
139,664		 58,271
~137081
58 775 142 8 0 38 2 2,571 ~195352

Net cons o lidated
income/(expenditure)
is stated after charg		 ing/(crediting):
31.3.23 31.3.22
E E
Auditors' remuneration 8,140 7,750
Depreciation
- owned assets		 25,407 27,346
Operating leases 4,887 4,887
Surplus on disposal of fixed assets ~2665)

STAFF COSTS
31.3.23 31.3.22
E E
Wages and salaries 882,739 770,629
Social security costs 67,500
Other pension costs ~124 795 111,904
1,075,934 950,033

31.3.23 31.3.22
E E
Wages and salaries 944,413 881,410
Social security costs 74,558 77,041
Other pension costs 131,568 125,343
~1,150 539 1,083,794
d during the year were during the year were :
Group Charity
2023 2022 2023 2022
No. No. No. No.
35 38 33 33
ts (excluding employer pension costs) exceeded E60,000 was:
31.03.23 31.03.22

13.
COMPARATIVES F		 OR T HE CON SOLIDATED
STAT		 EMENT OF FINA NCIAL
AC		 TIVITIE S
31.3.22 31.3.21
Unrestricted Designated Restricted Total funds Totalfunds
fund fund funds
Notes E E E E
INCOME AND ENDOWMENTS
FROM
Donations
and legacies		 2 871,048 268,800 685,306 1,825,154 1,838,965
Charitable
activities		 5
Education 460 460 623
Land Management
Grant		 288,863 288,863 314,269
Education
B.Communication		 14,723 124,950 139,673
Wider Countryside 34,206 106,874 141,080
Other trading
activities		 285,796 285,796 336,087
Investment
income		 78,386 78,386 63,839
Other income 33,422 33,422 41,961
Total 1,606,904 268,800 917,130 2,792,834 2,595,744
EXPENDITURE ON
Raising funds 756,655 55,483 500 812,638 738,493
Charitable
activities
Education
ft Communication		 132,184 40,378 47,647 220,209 220,844
Wider Countryside
Reserves		 169,398
635,836		 ~61.732 201,151
~68 564		 370,549
~766 132		 383,029
775,199
Total 1,694,073 157,593 317,862 2,169,528 2,117,565
NET INCOME/(EXPENDITURE) (87,169) 111,207 599,268 623,306 478,179
before gains/(losses)
Net gains/(losses)
on		 (43,089) (43,089) 519,239
investments
NET INCOME/(EXPENDITURE) (87,169) 68,118 599,268 580,217 997,418
Transfers between
funds		 22 ~101999) ~101 999
Other recognised
gains/(losses)
Actuarial
gains/(losses)		 on
defined benefit schemes 43,413 43 413 11 2411
Net Movement
in Fund		 ~43 756 ~33 881 ~701 267 ~623 630 ~1008 658
RECONCILIATION
OF FUNDS
Total funds brought
forward
As previously
reported		 5,580,670 4,051,456 7,055,072 16,687,198 15,678,540
TOTAL FUNDS CARRIED 5,536,914 4,017,575 7,756,339 17,310,828 16,687,198
FORWARD

The Charity
has a wholly owned		 The Charity
has a wholly owned		 trading subsidiary, subsidiary, which which is incorporated in the United Kingdom. The pdncipal The pdncipal
activity of W.N.C.T. Enterprises Limited is that of environmental
consultancy		 work. The Company covenants its
taxable profits to Worcestershire Wildiife Trust. A summary of trading
results		 is shown below. Audited accounts
are filed with the Registrar of Companies. This summary includes transactions with Worcestershire Wildlife Trust
which
have been eliminated		 on consolidation.
31.3.23 31.3.22
E E
Turnover
Sales and services - External 276,733 229,446
Sales and services - Internal 9,299 10,600
286,032 240,046
Cost ofSales
Cost of goods sold - External (111,310) (86,740)
Cost of good sold - Internal 5,254
(111,310) ~81,486)
Gross Profit 174,722 158,560
Administrative
expenses
General administrative
expenses
Depreciation		 (94,480)
(228)		 ~94 708) (160,164)
~306)		 ~160,470)
Net profit for the year 80,014 (1,910)
Retained profit in Subsidiary b/fwd
Covenanted
to Worcestershire
Wildlife Trust (78,443)
Retained profit in Subsidiary c/fwd 1,571 ~1910)
Net assets held in Subsidiary 12,414 10,843

CHARITY
Nature
reserves
B.freehold Leasehold Solar
property property panels
E E E
COST
At I April 2022 13,042,564 45,000 9,637
Additions 614,987
Disposals
At 31 March 2023 13 657 551 45 DDD 9,637
DEPRECIATION
At I Aprii 2022 3,968 6,746
Charge for year 496 964
Eliminated
on disposal
At 31 March 2023 4,464 7,710
NET BOOK VALUE
At 31 March 2023 13,657,551 40,536 1,927
At 31 March 2022 13 D42 564 41 D32 2 891
Office
equipment
and Motor Computer
fittings
E		 vehicles
E		 equipment
E		 Totals
f
COST
At 1 April 2022 213,742 68,183 156,034 13,535,160
Additions
Disposals		 5,025 10,296
(65,217)		 630,308
~65,2)7)
At 31 March 2023 218,767 68,183 101,113 14,100,251
DEPRECIATION
At I April 2022 197,356 65,170 138,419 411,659
Charge for year
Eliminated
on disposal		 5,361 3,013 15,346
65 217)		 25,180
~65 217)
At 31 March 2023 202 717 68 183 88 58) 371 622
NET BOOK VALUE
At 31 March 2023 16,050 12,565 13,728,629
At 31 March 2022 16.386 3 D13 17615 13,123,

GROUP
Nature
reserves R
freehold Leasehold Solar panels
property property
E
COST
At 1 April 2022 13,042, 564 45,000 9,637
Additions 614,987
Disposals
At 31 March 2023 363 5 45016 ! 3
DEPRECIATION
At 1 April 2022 3,968 6,746
Charge for year 496 964
Eliminated
on disposal
At 31 March 2023 7,710
NET BOOK VALUE
At 31 March 2023 13637 551 4D,536 I 927
At 31 March 2022 04 5 41 D32
Office
equipment Motor Computer
ft fittings vehicles equipment Total
E E E E
COST
At 1 April 2022
Additions
Disposals		 221,863
5,025		 82,698 156,035
10,296
~567)2.
13,557„797
630,308
~65.217)
At 31 March 2023 226,888 82,698 101.114 14 122,888
DEPRECIATION
At 1 April 2022 204,562 79,685 138,421 433,382
Charge for year 5,589 3,013 15,346 25,408
Eliminated
on disposal		 (65,217) 165 2 7)
At 31 March 2023 2D 5 8 68 88.55D 3 3
NET BOOK VALUE
At 31 March 2023		 ~16737 12 564 13 729,315
, At 31 March 2022 17 301 3 013 17614 13124415

GROUP
Cash and
Listed settlements
investments pending Totals
E E E
MARKET VALUE
At 1 April 2022 3,445,791 111,339 3,557,130
Additions
Disposals (231,193) (231,193)
Revaluations (274,625) (274,625)
Movement
on cash		 217,346 217,346
At 31 March 2023 2,939,973 328,685 3,268,658
NET BOOK VALUE
At 31 March 2023 ~2939 973 ~328 68S ~3268 658
At 31 March ZOZZ ~3445 791 ~111339 ~3557 130
The Market Value of listed investments can be analysed as follows:
31.3.23 31.3.22
E E
UK Government Stocks 38,018 42,198
UK Equity Shares 604,833 756,947
UK Corporate
Bonds Et Unit Trusts		 415,075 385,010
Foreign bonds 0 securities 260,911 386,995
Foreign equity 1,341,401 1,483,059
Alternative investments 279,735 391,582
2,939,973 3,445,791

for th
17.		 e Year Ended 31 March
STOCK		 2 023
GROUP
31.3.23 31.3.22
E E
Stock 3,224 34,460
3,224 34,460
18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CHARITY
31.3.23 31.3.22
E E
Trade debtors 60,506 88,269
W.N.C.T. Enterprises Limited 68,565 62,524
Other debtors 4,114
VAT 19,195 31,851
Accrued income 274,624 119,791
Prepayments 21,532 8,141
444,422 314,690
GROUP
31.3.23 31.3.22
E E
Trade debtors 76,288 110,230
Other debtors 4,114
VAT 14,209 24,088
Accrued income 274,624 119,791
Prepayments 21,532 8,141
386,653 266,364
19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CHARITY
31.3.23 31.3.22
E E
Trade creditors 60,529 119,713
Social security and other taxes 21,330 27,357
Accrued expenses
Other creditors		 44,113
~1540		 33,225
~127 512 180,295
GROUP
31.3.23 31.3.22
E E
Trade creditors 61,328 122,091
Social security and other taxes 21,330 27,357
Deferred
income		 1,620
Accrued expenses 44,113 34,425
Other creditors 23,891
150,662 185,493

Deferred income for the year ended 31 March 2023 income for the year ended 31 March 2023 Charity
31.3.23		 Group
31.3.23
E E
Deferred income at 1 April 2022 1,620
Resources
Amounts		 deferred
in the year
released from previous		 year ~1,620)

Other operating leases
31.3.23 31.3.22
E E
Expiring:
Within one year 5,602 4,847
Between one and five years 6,219 ~1212
1~1821 6,059

31.3.23 31.3.22
Unrestricted Designated Restricted Total funds Totalfunds
fund fund funds
E E E E E
Fixed assets 5,918,415 141,727 7,669,173 13,729,315 13,124,415
Investments 3,268,658 3,268,658 3,557, 130
Current assets (265,896) 484,687 571,629 790,420 814,776
Current liabilities (150,662) (150,662) (185,493)
Pension liability
~5,501 857 ~3895,072 ~8240 802 1~7637 731 17~310828

MOVEMENT IN FUNDS ( consolidat ed)
Net movement Transfers
At 1.4.22 in funds between funds At 31.3.23
6 E E E
Unrestricted
funds
Generalfund 5,536,914 (57,921) 22,864 5,501,857
Designated fund ~4017,575 ~142,724) ~20 221 ~3895,072
9,554,489 (200,645) 43,085 9,396,929
Restricted funds
Restricted funds 7,756,339 527,548 (43,085) 8,240,802
TOTAL FUNDS 1~7 310828 ~326 903 1~7,637 731
Net movement
in funds,		 included in the above are as follows:
Incoming Resources Gains and Movement
in
resources expended losses funds
E E E E
Unrestricted
funds
General fund 1,759,029 (1,816,950) (57,921)
Designated fund 249,779 (117,877) (274,626) ~142,724)
2,008,808 (1,934,827) (274,626) (200,645)
Restricted funds
Restricted funds 907,571 (380,023) 527,548
TOTAL FUNDS ~2916 379 ~2314 850) ~274 626) ~326 903

Net movement Transfers
At 1.4.21 in funds between
funds		 At 31.3.22
E E E E
Unrestricted
funds
General fund 5,580,670 (43,756) 5,536,914
Designated fund 4,051,456 68,118 ~101,999) 4,017,575
9,632,126 24,362 (101,999) 9,554,489
Restricted funds
Restricted funds 7,055,072 599,268 101,999 7,756,339
TOTAL FUNDS 16687 198 623 630 1~7310828
Incoming Incoming Resources Gains and Movement
in
resources expended losses funds
E E E E
Unrestricted funds
General fund
Designated
fund		 1,606,904
~268 800		 (1,694,073)
~157,593)		 43,413
(43,089)		 (43,756)
68,118
1,875,704 (1,851,666) 324 24,362
Restricted funds
Restricted funds 917,130 (317,862) 599,268
TOTAL FUNDS 2 792 834 ~2 169 528) 324 ~623 630
Unrestricted Funds
Unrestricted funds consist ofthe reserves of the subsidiary and general
fund of the charity.
31.3.21 31.3.22
E E
General
fund		 of Charity 5,527,138 5,555,476
Reserves of Subsidiary company 2,414 843
5,556,319
Unrestricted funds eliminated on consolidation (27,695) (19,403)
~0*i
d		 5,501,857 5,536,914

Balance at Incoming Resources Transfers Transfers Balance at
01.04.2022 Resources Expended between funds 31.03.2023
FR~
FFI		 F E E
Gwen Finch Wetland Reserve 214,860 214,860
Hunt
House Wood		 252,210 252,210
Penorchard 230,248 230,248
HillCourt
Farm		 1,637,855 1,637,855
Lower Smite Farm 1,660,215 1,660,215
Sands Lane Meadows 110,245 110,245
Baynhall Meadow 21,120 21,120
Boynes Meadows 157,689 157,689
Hollybed
Farm		 394,661 394,661
Blackhouse
Wood		 436,779 436,779
Grafton Wood ft Laight Rough 237,063 237,063
Martley
Hillside Wood		 37,800 37,800
Vehicle Replacement - severn waste 1 1
Merries Farm 17,553 17,553
Helen Mackaness Reserve 23,408 23,408
Hardwick
Green		 367,998 367,998
Nash's Meadows 234,880 234,880
Woodland at Tor Coppice 60,000 60,000
Rosebank Coppice 3,500 3,500
Mob Squlnton
Wood		 30,000 30,000
Rawlings
Meadow		 28,200 28,200
Dropping
Weg farm		 897,902 897,902
Green Farm 416,658 416,658
Fields at Romsley Manor farm 198,330 198,330
7,054,186 614,988 7,669,174

Balance at Incoming Resources Transfers Balance at
01.04.2022 Resources Expended between
funds		 31.03.2023
E E E E E
Net Current Assets:
Woodland
Fund I Mr ft		 Mrs Clark 10,955 10,955
Emp of Officers funded by STW 9,731 86,309 (96,040)
Emp of Officers funded by ESIF (1,628) 60,932 (59,303)
Appeal
- Dropping
Wells		 Farm 310,933 50 (310,983)
Dropping
Well Farm Delivery Phase		 (4,593) 60,734 (45,408) 310,983 321,716
Mettis Aerospace
Ltd donation		 5,000 (5,000)
Enhancing
Public Goods		 in the FoF 20,458 (20,458)
Pound Green common restoration 202C 1,820 1,820
Support for delivery of Carbon reductic 20,000 (20,000)
Land at Green Farm, Adjacent to Monl 219,034 298,027 (13,180) (503,881)
Green Farm delivery project 1,114 (1,385) 87,223 86,952
Fields at Romsley Manor Farm 233,554 (1,865) (158,476) 73,213
Romsley Meadow Appeal 26,461 (270) (26,191)
Land management
trial		 11,290 (11,290)
Wilder Worcestershire GRCF 81,897 99,960 (133,901) 47,956
Nextdoor
Nature		 24,600 (22,062) 2,538
Severn Treescapes 15,830 (14,899) 931
684,899 907,571 - 388,313 - 658,073.45 546,083
Charity 7,739,085 907,571 - 388,313 - 43,085.45 8,215,258
Restricted
funds eliminated
on
consolidation 17,254 8,290 25,544
Total Restricted
Funds		 - Group 7,756,339 907,571 (380,023) (43,085) 8,240,802

The amo unts re cognised
in the Statement o		 f Financial Activiti es are as follows:
Defined benefit
pension plans
31.3.23 31.3.22
E E
Current service cost
Net interest from net defined benefit
asset/liability (2,714) 1,222
Past service cost
~2714) 1,222
Actual return on plan assets ~219,955) ~46,982)
Changes in the present value of the defined benefit obligation are as follows:
Defined benefit
pension plans
31.3.23 31.3.22
E f.
Opening defined benefit obligation 987,142 1,107,675
Interest cost 25,264 21,296
Actuarial losses/(gains) (133,707) (110,469)
Benefits paid (67,959) (41,071)
Administration expenses 33,759 9,711
844,499 987,142
Changes in the fair value of scheme assets are as follows:
Defined benefit
pension plans
31.3.23 31.3.22
E E
Opening fair value of scheme assets 1,080,522 1,024,815
Contributions by employer 51,891 50,380
Expected return 27,978 20,074
Actuarial gains/(losses) (247,933) (67,056)
Benefits paid (67,959) (41,071)
844,499 ~987 142
The amounts recognised
in other recognised		 gains and losses are as follows:
Defined benefit
pension plans
31.3.23 31.3.22
E E
Actuarial gains/(losses) ~43 413
43,413

The major cat egori es of schem e assets as a percentage
of		 total scheme assets are as follows:
Defined benefit
pension plans
31.3.23 31.3.22
UK Equities 0.0% 4.7%
Overseas Equities 24.6% 31.5%
Diversified Growth Funds 0.0% 23.0%
UK Government Fixed Interest 8 7.5X .12.5%
UK Government Index Linked Bon 15.7% 15.3%
UK Corporate Bonds 30.1% 8.6%
Property 2.8% 2.5%
Cash 1.2X 1.9%
LDI 18.1% 0.0%
100.00% 100.00%
. The assets are all quoted
in		 active markets.
Principal actuarial
assumptions		 at the Balance Sheet date (expressed as weighted averages):
31.3.23 31.3.22
Discount rate 4.68% 2.65%
Future salary increases 3.42% 3.65%
Future pension increases 2.70% 2.85%
At 31 At 31
March March
2023 2022
Life expectancy ofa male aged 65at the Balance Sheet Date 22.5 22.4
Life expectancy ofa male aged 65 in 20years from the Balance Sheet date 23.8 23.7
Life expectancy ofa female aged 65 at the Balance Sheet Date 25.0 24.9
Life expectancy ofa female aged 65 in 20years from the Balance Sheet Date 26.4 26.3