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|||Page|
|---|---|---|
|Trustee's
Report||1-16|
|Independent
Auditor's|Report|17-19|
|Statement of Financial|Activities|20|
|Balance Sheet||21|
|Cash Flow Statement||22|
|Notes to the Financial|Statements|23-37|
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|Charity collections 2022/2023||||
|---|---|---|---|
|Multi Day - December|f453|House charities||
|Mulfti-Day
February|f1,146|House charities||
|Save the Children|f509|||
|urkey/Syria
Earthquake|f662|||
|Ukraine|f290|||
|KT|f60|||
|unior Drama Event- Mar 23|f564|House charity winner||
|World Book Day|f140|lassroom
in the Clouds||
|Classroom
in the Clouds|f38|M Vigden||
|Galop charity|f117|||
|||Charity collection S||
|Wellbeing
week March 23|f585|Ravivarman
(split 50%CITC,||
|||0% DEC &20% SARI)||
|Mufti Jamboree
day 7th July 23
(93to be collected via fee bill)|f1,440|0%classroom
12.5%to each
harities|in the clouds,
ofthe 4 House|
|otal|f6,004|||
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||ear Group||utumn|Spring|Spring|Summer|
|---|---|---|---|---|---|---|
||12/13||10%|15%|||
||||26%|28%|||
||10||51%|53%||59%|
||||7%|57%||57%|
||||53%|59%||63%|
||||74%|85%||86%|
|All Sports;|2022/23; All Age Levels||||||
|Beclrninton||||1|0|83.3+o|
|Cricket||1|6|0|6|50.0'Yo|
|Footbell|||1|0|1||
|Hockey|||29|7|16|558%|
|Netball||1G:|61|7|35|59.2%|
|Tennis||10|6|1|3|60.0yo|
||Tote Is.|136|1G9|l6|61||
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|Name|||Changes during year|Changes during year|Changes during year|Pl|[B1|ÃI|
|---|---|---|---|---|---|---|---|---|
|Co-optative|governors||||||||
|Mrs M Duke|BA (Chair)||Resigned|March 2022 and|||||
||||reappointed||October 2022||||
|Mrs
H Archibald
LL.B (Vice Chair)|||||||||
|Dr S Dadlani|PhD BScPGCE||||||||
|Mr N Dent|||||||||
|Mrs TPuttock|||Appointed||March 2024||||
|Ms SJamison|BTEC HND||||||||
|Mr C Newell|LLB||Appointed||July 2022||||
|Mrs M Clarke MA HRM|||Appointed||July 2022||||
|Mrs T Newell|FCIPD||Appointed||July 2022||||
|Nominative|governors||||||||
|Rev TJ Hillier|(Guildford Diocesan||||||||
|Council ofReligious Education)|||||||||
|Mrs M Harnden
(Runnymede||Borough|||||||
|Council)|||||||||
|Vacant (Senate ofthe University of|||||||||
|London)|||||||||
|Vacant (Surrey County Council)|||||||||
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##
|The key management
pers|onnel|ofthe School during th|e year were:|
|---|---|---|---|
|Head|||Mr CC Muller
BAto August 2023|
||||Mrs D Picton MA from September 2023|
|Senior Leadership
Team||||
|School Business Director/|Clerk to Governors||Mrs G Chapman
LLB, LLM, FCA|
|Deputy Head
—Academic|||Mr P Forrest-Biggs
MA BA QTS|
|Director of Marketing
and|Admissions||Mrs SSergeant
BA|
|Deputy Head- Staff, Co-curricular||&Compliance|Ms J Bowden
BA MA PGCE MBA|
|Pastoral
Deputy
Head|||Mrs H O' Connor
BA PGCE|
##
|||
|---|---|
|School Address:|Guildford
Road|
||Chertsey|
||Surrey, KT169BN|
|Email:|office@swps.org.uk|
|Website:|www. swps. org.uk|
|Advisers||
|Auditors:|Crowe U.K. LLP|
||55 Ludgate
Hill|
||London
EC4M 7JW|
|Bankers:|Barclays Bank pic|
||8—12 High Street|
||Walton on Thames|
||Surrey KT12 2QX|
||Lloyds
Bank|
||pic 147 High|
||Street|
||Guildford|
||Surrey GU1 3AG|
##
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##
||||SIRWILLIAM PERKINS'5 EDUCATIONAL|SIRWILLIAM PERKINS'5 EDUCATIONAL|SIRWILLIAM PERKINS'5 EDUCATIONAL|SIRWILLIAM PERKINS'5 EDUCATIONAL|FOUNDATION|||
|---|---|---|---|---|---|---|---|---|---|
|STATEMENT OF|||FINANCIAL ACTIVITIES||(Incorporating|an Income &Expenditure
Account)||||
|||||FOR THE YEAR|ENDED 31AUGUST 2023|||||
||||||Restricted|Unrestricted||2023|2022|
||||||Funds||Funds|Total|Total|
|||||Note||||||
|INCOME FROM:||||||||||
|Charitable
activities||||||||||
|School fees|||||||10,209,665|10,209,665|9,715,836|
|Other educational|income||||||1,436,595|1,436,595|1,122,536|
|Investment
income &bank interest|||||||113,393|113,393|30,268|
|Donations|||||60||10,608|10,668|23,470|
|Other trading activities|||||11,350||58,777|70,127|36,870|
|Net property
income||||||||||
|Local Government
Funding||||||||||
|Total Income|||||11,410||11,829,037|11,840,447|10,928,980|
|EXPENDITURE ON:||||||||||
|Raising funds|||||4,606||98,890|103,497|84,714|
|Charitable
activities|||||||10,172,692|10,172,692|10,031,631|
|Total Expenditure|||||4,606||10,271,583|10,276,189|10,116,346|
|NET INCOME FROM OPERATIONS|||||6,804||1,557,454|1,564,258|812,634|
|Gain (Loss) on investments|||||(8,635)||(17,761)|(26,395)|(119,556)|
|NET INCOME FOR THE|YEAR||||(1,831)||1,539,693|1,537,862|693,078|
|Pension Scheme actuarial||gains/(losses)|||||||223,000|
|NET MOVEMENT
IN FUNDS FOR YEAR|||||(1,831)||1,539,693|1,537,862|916,078|
|Total funds at 1 September||2022|||402,367||21,010,257|21,412,624|20,496,546|
|TOTAL FUNDS AT31AUGUST 2023||||15|400,536||22,549,950|22,950,486|21,412,624|
##
|||Note|2023|2022|
|---|---|---|---|---|
|FIXEDASSETS|||||
|Tangible Assets|||15,749,370|15,777,128|
|Investments|||3,993,160|3,986,619|
||||19,742,530|19,763,747|
|CURRENT ASSETS|||||
|Debtors||10|740,329|382,455|
|Cash and Bank balances|||4,900,910|3,671,736|
||||5,641,240|4,054,191|
|CURRENT LIABILITIES|||||
|Creditors
payable
within|one year||(1,585,835)|(1,441,210)|
|NET CURRENT ASSETS|||4,055,405|2,612,981|
|TOTAL ASSETS LESSCURRENT LIABILITIES|||23,797,935|22,376,728|
|LONG TERM LIABILITIES|||||
|Creditors
payable
after one year||12|(847,453)|(963,426)|
|NET ASSETS BEFORE PENSION SCHEME LIABILITIES|||22,950,486|21,413,302|
|Pension Scheme funding|surplus/(deficit)|||(683)|
|NET ASSETS|||22,950,486|21,412,624|
|CHARITY FUNDS|||||
|Unrestricted:
Pension|Reserve|14||(683)|
|Designated||14|2,000,000|2,000,000|
|General|Funds|14|20,549,949|19,010,939|
||||22,549,949|21,010,256|
|Restricted||14|400,537|402,368|
|TOTAL FUNDS|||22,950,486|21,412,624|
##
|||||Note|2023||2022||
|---|---|---|---|---|---|---|---|---|
||||||E||E||
||Cash Row from operating
activities:||||||||
||Net cash provided
by operating|activities||||1,902,120||1,273,603|
||Cash Rows from investing
activities:||||||||
||Payments
for tangible
fixed assets||||(573,644)||(275,630)||
||Disposal ofFixed assets||||||2,391||
||Purchase ofinvestments||||||(250,000)||
||Sale ofinvestments||||||||
||Investment
income
Ik bank interest received||||80,355||1,779||
||Net cash (used in) investing
activities|||||(493,289)||(521,460)|
||Cash Rows from Rnancing
activities:||||||||
||Loan||||(120,431)||(2,253,526)||
||Finance costs paid||||(59,224)||(59,799)||
||Net cash provided
by (used in)|Rnancing|activities|||(179,655)||(2,313,325)|
||Change
in cash in the reporting|period||||1,229,176||(1,561,182)|
||Net cash at 1 September 2022|||||3,671,734||5,232,921|
||Net cash at 31August 2023|||||4,900,910||3,671,734|
|(i)|Reconciliation
ofnet income to|net cashflow from operating||activities|||||
|||||||2023||2022|
|||||||E||E|
||Net income before revaluations|||||1,564,258||812,634|
||Returns
on investments
and interest received|||||(113,393)||(30,268)|
||Pension scheme adjustments|||||(683)||12,000|
||Interest paid|||||59,224||59,799|
||Investment
management
fees|||||102||4,098|
||Depreciation|||||601,403||586,966|
||(Increase)/Decrease
in debtors|||||(357,874)||(214,531)|
||Pension scheme deficit payments|in year||||||(28,000)|
||Increase/(Decrease)
in creditors|||||149,083||70,905|
||Net cash inflow from operations|||||1,902,120||1,273,603|
|(ii)|Analysis ofcash and cash equivalents|||||2023||2022|
|||||||E||E|
||Cash at bank|||||4,900,910||3,671,736|
||Deposits/Others||||||||
|||||||4,900,910||3,671,736|
||||||||Other non-|At 31Aug|
||Analysis ofchanges
in net debt|||At|1 Sep 2022|Cash Flows|cash changes|2023|
||Cash and cash equivalents||||3,671,734|1,229,176||4,900,910|
||Borrowings||||||||
||Debt due within one year||||(125,262)|125,262|(120,804)|(120,804)|
||Debt due after one year||||(963,426)|115,973||(847,453)|
||||||(1,088,688)|241,235|(120,804)|(968,257)|
||Total||||2,583,046|1,470,412|(120,804)|3,932,654|
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|Freehold property||0-2%straight|line|
|---|---|---|---|
|Motor Vehicles
&ES,000||20%straight|line Furniture|
|8 Equipment
&E2,000||7-20%straight
line IT||
|Hardware
& Equipment|&f250|25%straight|line Boats &|
|E3,000||10%straight|line|
##
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|||||Restricted|Unrestricted|Total|Tota|I|
|---|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Funds|Funds||
|2|CHARITABLE ACTIVITIES - FEESRECEIVABLE|||2023|2023|2023|2022||
||||||E|E|E||
||Fees receivable|consist of:|||||||
||School fees||||10,800,304|10,800,304|10,278,434||
||Less Scholarships||||(175,200)|(175,200)|(138,337)||
||Less Bursaries||||(415,439)|(415,439)|(424,262)||
||||||10,209,665|10,209,665|9,715,836||
|3|CHARITABLE ACTIVITIES - OTHER INCOME||||||||
||Coaches||||288,077|288,077|285,413||
||Lunches||||425,683|425,683|387,915||
||Educational|visits and activities|||457,056|457,056|242,019||
||Rowing||||187,547|187,547|148,933||
||Registration|fees, surcharges|and extras||50,522|50,522|38,804||
||Hire offacilities||||27,710|27,710|19,451||
||||||1,436,595|1,436,595|1,122,536||
|4|INVESTMENT
Br|BANK INCOME|||||||
||Bank interest||||79,052|79,052|1,279||
||Bank deposits interest||||1,303|1,303|500||
||Investment|income|||33,038|33,038|28,489||
||||||113,393|113,393|30,268||
|5|VOLUNTARY INCOME||||||||
||Donations|||60|10,608|10,668|23,470||
##
##
##
##
|(a)|Summary
by fund type|Summary
by fund type|||||||Restricted|Restricted|Unrestricted|Total||Total|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Funds|Funds|Funds||Funds|
|||||||||||2023|2023|2023||2022|
|||||||||||f|f|E||f|
||Raising funds||||||||||||||
||Financing costs||||6(e)|||||819|96,468|96+87||79,749|
||Fundraising
&events|||||||||3,788|3,422|7,210||4,966|
||Total costs ofraising|funds||||||||4,606|98,890|103,497||84,714|
||Charitable
activities||||||||||||||
||Teaching||||||||||7,102,095|7,102,095||6,495,655|
||Welfare||||||||||514,680|514,680||539,188|
||Premises||||||||||1,082,706|1,082,706||1,106,507|
||Support costs and governance||||6(c)||||||1,762,077|1,762,077||1,879,594|
||Pension
Realised
- Service||Costs||||||||(289,684)|(289,684)|||
||Grants, donations
&|prizes|||6(d)||||||819|819||10,687|
||Total charitable
expenditure||||||||||10,172,692|10,172,692|10,031,631||
||Totalexpenditure|||||||||4,606|10,271,583|10,276,189|10,116,345||
|(b)|Summary
by expenditure||type|||||||||Total||Total|
|||||||Staff|Costs||Depreciation||Other|2023||2022|
|||||||||f||f|f|E||E|
||Raising funds||||||||||||||
||Financing costs||||6(e)||||||96,287|96,287||79,749|
||Fundraising
&events||||||||||7,210|7,210||4,965|
||Total costs ofraising|funds|||||||||103,497|103497||84,714|
||Charitable
activities||||||||||||||
||Teaching|||||5,216,928|||408,277||1,476,889|7,102,095||6,495,655|
||Welfare|||||||||29,587|485,093|514,680||539,188|
||Premises|||||197,883||||62,241|822,582|1,082,706||1,106,507|
||Support costs and governance||||6(c)|1,026,231|||101,296||634,549|1,762,077||1,879,594|
||Pension
Realised
—Service||Costs|||(289,684)||||||(289,684)|||
||Grants, donations
&|pdzes|||6(d)||||||819|819||10,687|
||Total charitable
expenditure|||||6,151,358|||601,403||3,419,932|10,172,692|10,031,631||
||Total expenditure|||||6,151,358|||601,403||3,523,429|10,276,189|10,116,344||
||Teaching other costs|include Teaching|||Materials|f172,127||(2022:f138,496),Coaches f356,277 (2022:f336,300),Trips|||||& recoverable||
||pupil costs f413,391|(2022:f197,189),Rowing||||expenditure|||f182,294|(2022;f144,033).Welfare other costs include
Catering||||f473,540|
||(2022:f489,724). Premises
f220,283).||other costs||include|Building|&|Maintenance||f204,730|(2022:f224,449),|Utilities f173,096(2022:|||
|c)|Governance|included||in support costs|||||||||||
||||||||||||2023
E|2022f|||
||Audit Fees (excluding|||VAT)|||||||21,600|21,600|||
||||||||||||21,600|21,600|||
##
##
|(d)|Grants, donations
&|prizes|prizes|prizes||||||2023|2022|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||E|f|
||From Restricted funds:|||||||||||
||Bursaries|||||||||||
||From Unrestricted
funds:|||||||||||
||Donations|||||||||819|10,687|
|||||||||||819|10,687|
|(e)|Financing
Costs|||||||||||
|||||||||||2023|2022|
|||||||||||E|f|
||Bank Interest|||||||||8,083|7,467|
||Loan Inte rest|||||||||59,224|59,799|
||Pension
Deficit charges|||||||||20,491|12,000|
||Bad Debts|||||||||(11,934)|(3,615)|
||Property
Income Costs|||||||||20,321||
||Investment
Management||Fees|||||||102|4,098|
|||||||||||96,287|79,749|
|7|STAFF COSTS|||||||||||
|||||||||||2023|2022|
|||||||||||E|f|
||Staff costs were as follows:|||||||||||
||Wages and salaries|||||||||4,979,357|4,836,907|
||Social security||costs|||||||529,181|503,141|
||Pension costs|||||||||932,504|913,484|
||Pension Realised|||- Service Costs||||||(289,684)||
|||||||||||6,151,358|6,253,532|
||No governors
received||any|remuneration|||orother|benefits from Sir William||Perkins's School.||
||Nil expenses were reimbursed||||to, or paid||on behalf of, Governors||in 2022/23 (2021/22: f0)|||
||The number ofhigher|paid||employees||was:||||2023|2022|
|||||||||||No|No|
||f 60,001 - f70,000|||||||||10|4|
||f 70,001
—f80,000|||||||||2|2|
||f80,001 - f90,000|||||||||||
||f90,001 - f100,000|||||||||||
||f 100,001 - f110,000|||||||||||
||f 110,001 —f120,000|||||||||||
||f 120,001 - f130,000|||||||||||
||f 130,001
—f140,000|||||||||||
||f 140,001 - f150,000|||||||||||
||f 150,001 - f160,000|||||||||||
|||||||||||14||
||Aggregate
employee|benefits ofkey management||||||personnel||2023:f740,073(2022:|f729,228)|
||The average headcount||number||offull and part time employees||||during the year was as follows:|||
|||||||||||2023|2022|
||Teaching staff|||||||||75|78|
||Other|||||||||44|51|
|||||||||||119|129|
|8|TANGIBLE FIXEDA|SSETS||||||
|---|---|---|---|---|---|---|---|
||||Land and|Furniture,|IT Equipment|Total||
||||buildings|Equipment
&|&|||
|||||Vehicles
f|Photocopiers
f|||
||Cost|||||||
||At
1 September 2022||20,735,603|1,582,400|620,358|22,938,361||
||Additions||41,568|410,275|121,801|573,644||
||Disposals|||||||
||At 31 August 2023||20,777,172|1,992,674|742,159|23,512,005||
||Depreciation|||||||
||At1 September2022||5,508,952|1,159,573|492,707|7,161,233||
||Charge for year||407,094|136,760|57,548|601,403||
||Disposal|||||||
||At 31 August 2023||5,916,046|1,296,333|550,256|7,762,635||
||Net book values|||||||
||At 31 August 2023||14,861,125|696,341|191,903|15,749,370||
||At 31 August 2022||15,226,651|422,826|127,651|15,777,128||
|9|INVESTMENTS|||Restricted|Unrestricted|2023|2022|
||Investment
in Quiker Cheviot|||Funds|Fundsf|Totalf|Total
f|
||At 1 September 2022|||344,897|709,418|1,054,315|899,481|
||Investment||||||250,000|
||Reinvested
Income|||10,808|22,230|33,038|28,489|
||Management
Fees|||(33)|(68)|(102)|(4,098)|
||(Decrease)/Increase|in value|ofInvestment|(8,635)|(17,761)|(26,395)|(119,556)|
||At 31August 2023|||347,037|713,819|1,060,856|1,054,315|
||Investments
comprise:|||||2023f|2022
f|
||Fixed Interest|||||||
||Equities|||||1,052,120|1,015,045|
||Alternative
Investments||||||27,646|
||Cash and Cash Products|||||8,736|11,624|
|||||||1,060,856|1,054,315|
||||FOR THE YEAR EN|DED 31AUGUST|2023||
|---|---|---|---|---|---|---|
|||||Note|2023f|2022
f|
|10|DEBTORS||||||
||Fees||||138,883|49,627|
||Prepayments||||248,388|262,719|
||Accrued
income||||18,619|50,226|
||Sundry debtors||||334,440|19,884|
||||||740,329|382,455|
||All debtors are|due within one year.|||||
|11|CREDITORS||||||
||Amounts
falling due within one year:||||||
||Bank loan|||13|120,804|125,262|
||Deposits received
from parents||||438,499|368,437|
||Trade creditors||||404,949|369,440|
||Taxation and social security||||136,069|115,737|
||Other creditors||||105,694|124,471|
||Fees received|in advance|||128,266|220,265|
||Accruals and sundry creditors||||251,554|117,600|
||||||1,585,835|1,441,210|
|12|CREDITORS||||||
||Amounts
falling due after||one year:||||
||Bank loan|||13|847,453|963,426|
||||||847,453|963,426|
|13|LOAN CREDITOR||||||
||The bank loan|is repayable|by instalments||||
||Due within one|year(see Note 11)|||120,804|125,262|
||Due between
two and five years||||755,626|558,207|
||Due after more|than 5 years|||91,827|405,219|
||||||968,257|1,088,688|
##
##
|14a|STATEMENT OF F|UNDS||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||At 1stSept|||Income|Expenditure|Transfers|Gains/|At 31st Aug|
||||||2022
f||||In/(out)
f|(Losses)
f|2023
f|
||Unrestricted
Funds:|||||||||||
||Pension
Reserve|||||(683)||683||||
||Designated
Fund||||2,000,000||||||2,000,000|
||General
Reserve||||19,010,939||1L829,037|(10,272,266)||(17,761)|20,549,949|
||Total Unrestricted|Funds|||21,010,256||11,829,037|(10,271,583)||(17,761)|22,549,949|
||Restricted Funds:|||||||||||
||Foundation
and school funds||||402,368||11,410|(4,606)||(8,635)|400,537|
||Total ofFunds||||21,412,624||11,840,447|(10,276,189)||(26,395)|22,950,486|
||Fund explanations|are noted|in accounting||policies|||||||
|14b|STATEMENT OF FUNDS - Year Ended|||31|August|2022||||||
|||||At 1stSept|||Income|Expenditure|Transfers|Gains/|At 31stAug|
||||||2021
f||||In/(out)
f|(Losses)
f|2022
f|
||Unrestricted
Funds:|||||||||||
||Pension Reserve||||(239,683)|||(12,000)|28,000|223,000|(683)|
||Designated
Fund||||||||2,000,000||2,000,000|
||General Reserve||||20,310,143||10,900,139|(10,090,071)|(2,028,000)|(81,271)|19,010,939|
||Total Unrestricted|Funds|||20,070,460||10,900,139|(10,102,071)||141,729|21,010,256|
||Restricted Funds:|||||||||||
||Foundation
and school funds||||426,086||28,841|(14,275)||(38,285)|402,367|
||Total ofFunds||||20,496,546||10,928,980|(10,116,346)||103,444|21At2,624|
|15a|ANALYSIS OF NET|ASSETS BETWEEN||FUNDS||||||||
||||||||Restricted|Unrestricted|Total|Tota I||
||||||||Funds|Funds|Funds|Funds||
||||||||2023|2023|2023|2022||
||||||||f|f|f|E||
||Tangible
fixed assets|||||||15,749,370|15,749,370|15,777,128||
||Investments||||||347,037|713,819|1,060,856|1,054,3 15||
||Investments
Properties|||||||2,932,304|2,932,304|2,932,304||
||Current assets||||||53,499|5,587,745|5,641,244|4,054,196||
||Creditors due within|one year||||||(1,585,835)|(1,585,835)|(1,441,210)||
||Creditors due in more than one year|||||||(847453)|(847853)|(964,109)||
||||||||400,536|22,549,950|22,950486|21,412,624||
|15b|ANALYSIS OF NET|ASSETS BETWEEN||FUNDS- Year Ended|||31August 2022|||||
||||||||Restricted|Unrestricted|Total|Total||
||||||||Funds|Funds|Funds|Funds||
||||||||2022|2022|2022|2021||
||||||||f|f|f|f||
||Tangible fixed assets|||||||18,709,432|18,709,432|19,023,160||
||Investments||||||344,897|709,418|1,054,315|899,481||
||Current assets||||||57,470|3,996,727|4,054,196|5,400,845||
||Creditors due within|one year||||||(1841,210)|(1,441,210)|(1,599,726)||
||Creditors due in more than one year|||||||(964,109)|(964,109)|(3,227,214)||
||||||||402,367|21,010,257|21,412,624|20,496,546||
##
##
##
|Period ended 31May 2023|||||Assets
K(000)|Obligations
E(000)|Net asset /
(liability)
K{000)|
|---|---|---|---|---|---|---|---|
|Fair value of plan assets|||||3,443|||
|Present value offunded obligations||||||2,864|(2,864)|
|Present value ofunfunded
obligations||||||||
|Opening
Position as at 31August 2022|||||3,443||579|
|Service cost||||||||
|-Current service cost*|||||||(18)|
|—Past service cost (including
curtailments)||||||||
|—Effect ofsettlements|||||(3,058)|(2,169)|(289)|
|Total service cost|||||{3,058)|(2,?51)|(307)|
|Net interest||||||||
|—Interest income on plan assets|||||108||108|
|—Interest cost on defined benefit obligation||||||89||
|Total net interest|||||108||19|
|Total defined benefit cost recognised||in Profit or (Ioss)|||(2,950)|{2,662)|{288)|
|Cashflows||||||||
|-Participants'
contributions||||||||
|—Employer contributions||||||||
|-Estimated
benefits paid||||||||
|-Estimated
unfunded
benefits paid||||||||
|-Estimated
contributions
in respect ofunfunded|||benefits|paid||||
|Effect ofbusiness
combinations
and disposals||||||||
|Expected closing position|||||404|89|315|
|Remeasurements||||||||
|—Changes
in financial assumptions||||||(498)||
|—Changes
in demographic
assumptions||||||(10)|10|
|- Other experience|||||(223)||(642)|
|-Return on assets excluding
amounts|included||in net interest||(181)||(181)|
|Total remeasurements
recognised
Comprehensive
Income (OCI)|in Other||||(404)|(89)|(315)|
|Fair value ofplan assets||||||||
|Present value offunded obhgations||||||||
|Present value ofunfunded
obligations*"||||||||
|Closing position as at 31 May 2023||||||||
|Period ended 31August 2022|||||Assets
E(000)|Obligations
q000)|Net asset l
{liability)
K(000)|
|---|---|---|---|---|---|---|---|
|Fair value of plan assets|||||3,689||3,6&9|
|Present value offunded obligations||||||3,930|(3,930}|
|Opening
Position as at 31August|2021||||3,689|3,930|(241)|
|Service cost||||||||
|-Current service cost*||||||||
|-Past service cost (including
curtailments)||||||||
|-Effect ofsettlements||||||||
|Tota Iservicecost|||||||(42)|
|Net interest||||||||
|-Interest income on plan assets|||||||57|
|—Interest cost on defined benefit obligation||||||60||
|Total net interest||||||60|(3)|
|Total defined benefit cost recognised|||in Profit or (Loss)||57|102|{45)|
|Cashfiows||||||||
|—Plan participants'
contributions||||||||
|-Employer
contributions||||||||
|—Estimated
benefits paid|||||(133)|(133)||
|-Estimated
unfunded
benefits paid||||||||
|-Estimated
contributions
in respect of||unfunded||benefits paid||||
|Effect ofbusiness
combinations
and|disposals|||||||
|Expected closing position|||||3,681|3,905|{224)|
|Remeasurements||||||||
|—Changes
in financial assumptions||||||(1,030)|1,030|
|—Changes
in demographic
assumptions||||||||
|-Other experience|||||||(5)|
|-Return on assets excluding
amounts||included||in net interest|(238)||(238)|
|Total remeasurements
recognised
Comprehensive
Income (OCI)|in Other||||(238)|(1,041)||
|Fair value ofplan assets|||||3,443||3,443|
|Present value offunded
obligations||||||2,864|(2,864)|
|Present value ofunfunded
obligations||||||||
|Closing position as at31August 2022|||||3,443|2,864|579|
|Table 2:|Fair value|ofschem|e assets|||
|---|---|---|---|---|---|
||||2023|2022||
||||76%|76%||
||||13%|14%||
||||8%|8%||
||||3%|2%||
|Table 3:|Key financial assumptions|||||
||||2023|2022||
||||%pa|%pa||
|Pension|Increase Rate (CPI)||2.20%|3.35%||
|Salary Increase
Rate|||3.20%|4.25%||
|Discount|Rate||4.50%|4.25%||
|Table 4:|Mortality|assumptions||||
||||Males|Females||
|Current|Pensioners||21.7 years|25.5 years||
|Future Pensioners*|||22.0 years|27.0 years||
|* Figures|assume members||aged 45 at|the last formal valuation|date|
##
##
##
##
##