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||||Page|
|---|---|---|---|
|Reference and administrative||details ofthe Trust, its Trustees and advisers|1-2|
|Chairman's
statement|||3-4|
|Trustees" report|||5-14|
|Trustees' responsibilities
statement|||15|
|Independent
auditors'|report|on the financial statemente|16-20|
|Statement offinancial|activities||21-22|
|Balance sheet|||23-24|
|Statement ofcash flows||||
|Notes tothe financial|statements||26-51|
|REFERENCE AND|REFERENCE AND|REFERENCE AND|ADMINISTRATIVE|DETAILS OF THE TRUST, ITSTRUSTEES AND ADVISERS|DETAILS OF THE TRUST, ITSTRUSTEES AND ADVISERS|DETAILS OF THE TRUST, ITSTRUSTEES AND ADVISERS|
|---|---|---|---|---|---|---|
||||FOR THE YEAR||ENDED 31AUGUST 2021||
|Trustees|||MrATBake||||
||||Mr KJ Batty||||
||||Mr Ivl Bell (resigned 19||July 2021)||
||||Professor SF Brown||||
||||Mrs BFindlay (appointed|||30 November 2021)|
||||Mrs E Hadley (appointed|||30November 2021)|
||||Professor
M C Hannay||(resigned 26January 2022)||
||||MrSJ Hatchman||||
||||Mrs C Jervis||||
||||Mrs S Kana (appointed||21 October 2020, resigned 20 October 2021)||
||||Mr M J Oliver (deceased|||5 March 2021)|
||||Mr D Reed||||
||||Mr A K Riley (resigned||28 April 2021)||
||||Mrs S M Sllnpson||||
||||Mr M A Smith, Chakman|||(appointed 28April 2021)|
||||Mrs K I Truscott (appointed 12July 2021)||||
|Company|Registered||||||
|Number|||01240377||||
|Charity Registered|||||||
|Number|||504913||||
|Registered||Office|Toynton
Hall||||
||||Main Road||||
||||Toynton
All Saints||||
||||Spilsby||||
||||Lincolnshire||||
||||PE23 5AE||||
|Independent||Auditors|Streets Audit LLP||||
||||Chartered
Accountants||&|Statutory Auditor|
||||Tower House||||
||||Lucy Tower Street||||
||||Lincoln||||
||||LN1 1XW||||
|Bankers|||Lloyds Bank pic||||
||||High Street||||
||||Lincoln||||
||||LN5 7AP||||
|Solicitors|||Bridge McFarland|LLP|||
||||9Cornmarket||||
||||Louth||||
||||Lincoln shire||||
||||LN11 9PY||||
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||||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
||||||2021|2021|2021|2020|
|||||Note|F.|8|8|6|
|Income from:|||||||||
|Donations,
grants and legacies:|||||||||
|Donations|||||34,081|4,066|38,147|9,339|
|Grants|||||366,252||$86,252|438,203|
|Charitable
activities||||||15,185,996|15,185,885|14,506,448|
|Other trading
activities|||||300|34,811|36,111|43,619|
|Investments||||||||2880|
|Total Income|||||400,633|15,224,873|15,625,506|15,000,489|
|Expenditure
on;|||||||||
|Raising funds:||||10|||||
|Expenditure
ofvoluntary|||income||388,966||388,956|474,344|
|Fundraising
expenses||||||102,485|102,486|61,318|
|Charitable
activities||||11||14,636,872|14,636,872|14,069,499|
|Other expenditure||||13||(124,411)|(124,411)|113,697|
|Total expenditure|||||368,956|14,614,946|15,003,902|14,718,858|
|Net Income before net|||||||||
|gains/(losses)
on||Investments|||11,677|609,927|621,604|281,631|
|Net gains/(losses)|on investments|||||318,465|318,468|(11,170)|
|Net income|||||11,677|928,392|940,069|270,461|
|Transfers
between||funds||23|(3,041 )|3,041|||
|Net movement
In|funds||before other||||||
|recognised
gains|||||8,636|931,433|940,069|270,461|
|Other recognised||gains:|||||||
|Gains on revaluation||offixed assets||||912,972|912,972||
|Actuarial
gains on defined|||benefit||||||
|pension schemes||||30||43,000|43,000|22 171|
|Net movement
In|funds||||8,6$6|1,887,406|1,896,041|292632|
##
##
||||Restricted|Unrestricted|Total|Toter|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
|||Note|2021
f|2021
6|2021f|2020|
|Reconciliation|offunds:||||||
|Total funds brought
forward|||3,239,389|18,822,041|20,061,430|19,768,798|
|Net movement|in funds||8,638|1,887,406|1,896,041|292,632|
|Total funda carried forward|||3,248,025|18,709,446|21,967,471|20,061,430|
##
##
|||||||2021||2020|
|---|---|---|---|---|---|---|---|---|
|||||Note||6||6|
|Fixed assets|||||||||
|Tangible assets||||17||20,316,660||19,571,116|
|||||||20,316,660||19,571,116|
|Current assets|||||||||
|Debtors||||19|1,752,791||2,059,244||
|Investments||||20|2,480,264||2 161,799||
|Cash at bank and in hand|||||2,362,134||1,374,672||
||||||6,585,188||5,595,715||
|Creditors: amounts|falling due within one||||||||
|year||||21|(3,049,367)||(2938,058)||
|Net current assets||||||3,535,822||2,657,657|
|Total assets less current liabilities||||||23,862,482||22,228,773|
|Creditors: amounts|falling due after more||||||||
|than one year||||22||(1,150,011)||(1,283,343)|
|Net assets excluding||pension|liability|||22,702,471||20,945,430|
|Defined benefit pension||scheme|liability|30||(746,000)||(ee4,ooo)|
|Total net assets||||||21,957,471||20,061,430|
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##
||||2021|2020|
|---|---|---|---|---|
|ESFA|||112,126|75,787|
|Big Lottery Fund|||86,774|14'/,031|
|Children|in Need||34,717|35,587|
|Forbes|Trust||26,000|25,000|
|Tolklen|Trust||50,000|50,000|
|Karten Trust||||24,820|
|Bally Thomas|||6,947|23,125|
|British Airways||Carbon Fund||25,000|
|Heritage|Lottery||29,900|29,900|
|Other|||22,788|7,893|
||||366,262|438,203|
##
||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2021|2021|2020|
||8|||
|Education end Adult Skills|3,692,600|3,892,600|3,585,928|
|Care|11,286,381|11,286,381|10,850,323|
|Employment|39,746|39,746|122,857|
|Corporate and Cafes|167,269|167,269|167,342|
||15,185,996|16,185,996|14,508,448|
|Total 2020|14,506,448|14,506,448||
##
##
##
##
|Analysis of Income from charitable
activities
by c|ategory||
|---|---|---|
||2021|2020|
||6||
|Education
and Adult Skills|||
|Fees Receivable|3,691,026|3,533,082|
|Training
Outlet Income|260|3,326|
|Other Income|101,326|29,518|
||3,692,800|3.555,926|
|Care|||
|Fees Receivable|10,746,605|10,173,764|
|Other Income|639,7T6|476,559|
||11,288,381|10,650,323|
|Employment|||
|Fees Receivable|39,746|122.857|
||39,746|122,857|
|Corporate
and Cafes|||
|Fees Receivable||9,552|
|Training
Outlet Income|169,829|74,594|
|Other Income|7,440|83,196|
||167,269|"/67,342|
##
##
##
|8.|Income from other trading|Income from other trading|activities|||||
|---|---|---|---|---|---|---|---|
||Income from fundralslng||events|||||
|||||Restricted|Unrestricted|Total|Total|
|||||funds|funds|funds|funds|
|||||2021f|2021f|2021f|2020|
||Income from|Fundralsing||300|34,811|36,111|43,619|
||Total 2020|||3,417|40,202|43,519||
|9.|Investment|Income||||||
||||||Unrestricted|Total|Total|
||||||funds|funds|funds|
||||||2021
f.|2021f|2020f|
||Bank Interest||||||2,880|
||Total 2020||||2,880|2880||
|10.|Expenditure|on raising funds||||||
||Expenditure|ofvoluntary|income|||||
||||||Restricted|Total|Total|
||||||funds|funds|funds|
||||||2021
f.|2021
2,|2020f|
||Other Costs||||201,959|201,959|275,484|
||Payroll Costs||||185,997|186,987|198,880|
||||||388,956|388,956|474,344|
||Total 2020||||474,344|474,344||
##
##
##
##
##
|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funda|funds|funds|
|||||2021|2021|2020|
|||||6|5||
|Other Fundraising||Costs||12,601|12,601|11,026|
|Fundraising|Salaries|||80,076|80,078|44,700|
|Fundrsising|National||Insurance|7,404|TA04|4,127|
|Fundraising|Pension|||2,402|2,402|1,463|
|||||102,465|102,485|61,316|
|Total 2020||||61,318|6'l,3'l8||
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|Z0Z0|
|||E|6|6|
|Education|and Adult Skills|3,392,309|3392,309|3,230,873|
|Care||10,992,596|10,992,598|10,528,590|
|Employment||64,696|84,696|133,614|
|Corporate|and Cafes|167,269|167,269|170,222|
|||14,636,872|14,636,872|14,069,499|
|Total2020||14,069,499|14,069,499||
##
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##
##
|||Activities|Corporate|||
|---|---|---|---|---|---|
|||undertaken|overhead|Total|Total|
|||directly|allocation|funds|funds|
|||2021
f.|2021f|2021f|2020f|
|Education|and Adult Skills|2,910,639|481,670|3,392,309|3,238,873|
|Care||9,511,887|1,480,711|10,992,598|10,528.590|
|Employment||79,447|5,249|84,686|133.814|
|Corporate|and Cafes|2,134,899|(1,967,630)|167,269|170,222|
|||14,636,872||14,636,872|14,069,499|
|Total 2020||14,059,499||14,089,499||
||Education||||||
|---|---|---|---|---|---|---|
||and Adult|||Corporate|Total|Total|
||Sknls|Care|Employment|and Cafes|funds|funds|
||2021f|2021
f|2021
f|2021f|2021f|2020|
|Staff Costs|2,285,802|7,885,751|70,100|1,206,649|11,426,302|11,121,584|
|Other Dirert|||||||
|Costs|624,837|1,646,136||928,250|3,208,670|2,947,935|
||2,910,639|9,511,887|79,447|2,134,899|14,636,872|14,089,499|
|Total 2020|2 734,148|9,299,037|133,814|1,902,500|14,069,499||
##
##
##
|13.|Other expenditure||||||
|---|---|---|---|---|---|---|
||||Unrestricted||Total|Total|
|||||funds|funda|funds|
|||||2021f|2021f|2020|
||Property
Impairment|||(154,690)|(164,690)||
||Property
Profit on Disposal|||(55,000)|(56,000)||
||Pension Scheme - Interest|on Liabilities||63,000|63,000|81,000|
||Pension Scheme - Interest|on Assets||(51,000)|(91,000)|(64,000)|
||Write-Off ofSubsidiary
Loan Balance|||73,279|73,279|96,697|
|||||1124411)|1124411)|113692|
||Total 2020|||113,897|113,897||
|14.|Auditors'
remuneration||||||
||||||2021f|2020|
||Fees payable to the Trust's|auditor and its associates|for the audit|ofthe|||
||Trust'0 annual accounts||||11,600|11,800|
||Fees payable to the Trust'0|auditor and its associates|in respect of:||||
||Taxation compliance services||||900||
||All non-audit
services not included above||||2,600|Z600|
||Fees payable to the Trust'0|auditor and its associates|In connection|with the|||
||Trust's pension scheme(s)|in respect of:|||||
||The auditing
ofaccounts of|the scheme(a)|||1,660|1,614|
##
##
##
|Staffcosts||||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||5||
|Wages and|salaries|||10,659,831|10,392,624|
|Social security costs||||770,006|708,908|
|Contribution|to defined|contribution|pension schemes|276,247|269,202|
|||||11,705,183|11,370.734|
||||2021|2020|
|---|---|---|---|---|
||||No.|ivo.|
|Education|and Occupational|&Recreation|112|106|
|Care|||260|259|
|ORS|||93|96|
|Corporate|Services||47|44|
|Bank Staff|- Headcount||75|88|
||||687|593|
|2021|2020|
|---|---|
|No.|Na|
##
##
||Freehold snd|||||
|---|---|---|---|---|---|
||Leasehold|Moveable|Motor|Fixtures snd||
||Property|Buildings|Vehicles|Fittings|Total|
|||6|6|F|F.|
|Cost orvaluation||||||
|At 1 September 2020|19,399,822|17,905|661,929|3,476,823|23,666,479|
|Additions||||66,602|66,602|
|Dispossls|(275,000)||(60,556)|(1,086,589)|(1,421,147)|
|Revaluations|1,067,662||||1,067,662|
|At 31August 2021|20,192,484|17,906|601,371|2,467,838|23,269,596|
|Depreciatian||||||
|At 1 September 2020|4,683|17,906|691,194|3r3'71,681|3,985,363|
|Charge for the year|200||43,320|66,707|110,227|
|On disposals|||(60,668)|(1,082,096)|(1,142,664)|
|At 31August 2021|4,883|17,906|573,956|2,358,182|2,952,936|
|Net book value||||||
|At 31 August 2021|20,187,601||27,415|101,644|20,316,880|
|At31August 2020|19,395,139||70,735|f05,242|19,571,118|
##
##
##
##
##
|||2021
f|2020|
|---|---|---|---|
|Due within one year||||
|Trade debtors||669,268|673,25T|
|Amounts
owed by group undertakings||60,64$|78,803|
|Other debtors||87,828|131,483|
|Prepayments|and accrued income|1,046,150|1,177,701|
|||1,762,791|2,059,244|
##
||||2021
f|2020|
|---|---|---|---|---|
|Investment
portfolio|||2,480,264|2, 'f61, 799|
|Creditors: Amounts|falling due|within one year|||
||||2021f|2020|
|Bank loans|||133,332|133,332|
|Trade creditors|||376,620|472,095|
|Other taxation and social security|||188,8$4|195,453|
|Student and resident|monies
held||482,647|381,512|
|Other creditors|||466,779|872884|
|Accruals and deferred|income||1,392,235|882 782|
||||3,049,367|2,938,058|
||||2021f|2020|
|Deferred income at 1|September||633,272|196,121|
|Resources deferred
during the year|||860,844|614,903|
|Amounts
released
from previous||periods|(460,282)|(f7T,752)|
|Deferred Income at 31August|||1,043,854|633,272|
##
##
##
##
##
|Creditors: Amounts
falling dus after|more than one year|||
|---|---|---|---|
|||2021|2020|
||||5|
|Bank loans||900,011|1,033,343|
|Other loans||250,000|250,000|
|||1,150,011|1,283.343|
|Included
within the above are amounts|falling due as follows:|||
|||2021|2020|
|Between one and two years||||
|Bank loans||133,332|133,332|
|Between two and five years||||
|Bank loans||399,996|399,995|
|Over five years||||
|Bank loans||386,683|500,015|
|Other loans||250,000|250,000|
|||||2021|2020|
|---|---|---|---|---|---|
|||||5|5|
|Payable|or|repayable|by instalments|366,683|500,015|
|Payable|or|repayable|other than by instalrnents|250,000|250,000|
|||||616,683|750,015|
##
##
##
|23.|Statement offunds|Statement offunds|||||||
|---|---|---|---|---|---|---|---|---|
||Statement offunds||~current|year|||||
|||Balance at 1|||||||
||||September|||Transfers|Gains/|Balance at31|
||||2020|Income|Expenditure|in/out|(Losses)|August 2021|
|||||||6|5|5|
||Unrestricted||||||||
||Funds||||||||
||Designated||||||||
||Funds||||||||
||Digitalisation||||||||
||Reserve||144,00D|||||144,000|
||General Funds||||||||
||Free Reserves||2,601,099|16,224,873|(14,767,4M)|36,709|318,465|3,323,710|
||Property
Fund|10,422,971|||154,490|(8,928)||10,568,533|
||Revaluation||||||||
||Reserve||4,637.971|||(132,74D)|912,972|6,418,203|
||Pension||||||||
||Reserve||(884,000)||(12,000)|108,000|43,0DD|(745,000)|
|||16,678,041||16,224,873|(14,614,946)|3,041|1,274,437|18,686,446|
||Total||||||||
||Unrestricted||||||||
||Funds|16,822,041||16,224,873|(14,614,946)|3,041|1,274,437|18,709,446|
||Restricted||||||||
||Funds||||||||
||ESFA||||||||
||Maintenance||51,034|99,471|(28,412)|||122,093|
||Bursary Funds||24,422|12,666|(18,613)|741||19,305|
||Big Lottery||||||||
||Fund||64,941|86,774|(95,629)|(8,000)||46,888|
||Forbes Trust||6,002|25,0Oa|(24,000)|||6,002|
||Children
in||||||||
||Need||8,704|34,717|(35,040)|||8,381|
||Tolkien Trust|||50,000|(oa,ooo)||||
||Karten Trust||939|||(939)|||
||Bally Thomas||21,249||(22,689)|||4,807|
||Lottery Heritage||||||||
||Fund||21,000|29,900|(60,181)|(739)|||
##
##
||Balance at 1||||||
|---|---|---|---|---|---|---|
||September|||Transfers|Salnsl|Balance st 31|
||2020|Income|Expenditure|In/out|(Losses)|August 2021|
||E|E||6|F|E|
|Other|||||||
|Restricted|||||||
|Funds|93,030|67,169|(38,'I65)|5,896||117,930|
|Fixed Assets|||||||
|Acquired|2,949,068||(26,147)|||2,922,921|
||3,239,389|400,633|(388,966)|(3,041)||3,248,026|
|Total ofFunds|20,061,430|16,625,606|(16,003,902)||1,274,437|21,967,4'71|
##
##
|23,|Statement of|funds|(continued)||||||
|---|---|---|---|---|---|---|---|---|
||Statement of|funds|- prior year||||||
||||Balance at|||||Balance at|
|||5|September|||Transfers|Gainer|35August|
||||2059|Income|Expenditure|inrout|(Losses)|2020|
|||||6|2||||
||Unrestricted||||||||
||Funds||||||||
||Designated||||||||
||Funds||||||||
||Digitalisation||||||||
||Reserve||144,000|||||144,000|
||General Funds||||||||
||Free Reserves|2,453,385||54,549,584|(14,227,314)|(263,386)|(11,170)|2501,099|
||Property
Fund|50,275,654|||(200)|147,557||10,422,971|
||Revaluation||||||||
||Reserve|4,637,971||||||4,637,971|
||Pension||||||||
||Reserve|(5,005,000)|||(17,000)|115,829|22,171|(884,000)|
|||16,381,970||14,549,584|(14,244,514)||51,005|16,678,041|
||Total||||||||
||Unrestricted||||||||
||Funds|16,505,970||14,549,584|(54,244,514)||11,001|16,822 04'I|
||Restricted||||||||
||Funds||||||||
||ESFA||||||||
||Maintenance||113,606|43,171|(95,263)|(10,480)||55,034|
||Bursary Funds||13,839|19,492|(8,909)|||24,422|
||Promoting||||||||
||Independence|I|||||||
||Developing||||||||
||Employment||||||||
||Opportunities||2208|||(2208)|||
||Big Lottery||||||||
||Fund||58,590|141,031|(137,960)|3,280||64,941|
||Forbes Trust||32,002|25,000|(52,000)|||5,002|
||Children
in||||||||
||Need||1,515|35,867|(28,688)|10||8,704|
|||||||||Page 43|
##
##
##
##
|Statement offu|nds - prior year|(continued)|||||
|---|---|---|---|---|---|---|
||Balance at|||||Balance at|
||1September|||Transfers|Gainer|31August|
||2019f|incomef|Expendituref|infectf|(Losses)f|2020f|
|Tolkien Trust||50,000|(50,OOD)||||
|Karten Trust||24,820|(23,881)|||939|
|Bally Thomas||23,125|(4,876)|3,000||21,249|
|British Airways|||||||
|Carbon Fund||25,000|(25,000)||||
|Lottery Heditage|||||||
|Fund||29,900|(9,900)|1,DOO||21,000|
|Other|||||||
|Restricted|||||||
|Funds|87,333|33,499|(22,720)|(5,082)||93,030|
|Fixed Assets|||||||
|Acquired|2,953,735||(15,147)|10,480||2,949,068|
||3,252,828|450,905|(474,344)|||3,239,389|
|Total ofFunds|19,768,798|15000489|(14,718,858)||11,001|20,081,430|
##
##
##
##
|Summary
offu|nds - current ye|ar|||||
|---|---|---|---|---|---|---|
||Balance at 1||||||
||September|||Transfers|Gainal|Balanceat31|
||2020
6|Income
6|Expenditure
6|lniout
E|(Loeeea)
E|August 2021
E|
|Designated|||||||
|funds|144,000|||||144,000|
|General funds|16,678,041|15,224,873|(14,614,946)|3,041|1,274,437|18,565,446|
|Restricted|||||||
|funds|3,239,369|400,633|(388,968)|(3,041)||3,248,025|
||20,061,430|15,825,506|(16,003,902)||1,274,437|21,95T,471|
##
##
##
|Summary offu|nds - prior year||||||
|---|---|---|---|---|---|---|
||Satanas a(|||||Satanas at|
||1 September|||Transfers|Gains'|31Avgvst|
||2010|income|Expanditvra|taro at|(Losses)|2020|
||5|||||6|
|Designated|||||||
|funds|144,000|||||144,000|
|General funds|16,361,970|14,549,584|(14,244,514)||11,001|16,678,041|
|Restricted|||||||
|funds|3,262,828|450,905|(474,344)|||3,239,389|
||19,768,798|15,000,489|(14,718,858)||11,001|20,061,430|
##
|Analysis|of net assets between funds - current|year|||
|---|---|---|---|---|
|||Restricted|Unrsstrlctsil|Total|
|||funds|funds|funds|
|||2021
6|2021
6|2021f|
|Tangible|fixed assets|2,922,921|17,393,739|20,316,660|
|Current assets||502,779|6,082,410|6,586,189|
|Creditors|due within one year|(177,675)|(2,871,692)|(3,049,367)|
|Creditors|due in more than one year||(1,150,011)|(1,160,011)|
|Provisions|for liabilities snd charges||(745,000)|(746,000)|
|Total||3,246,025|18,709,446|21,957,471|
##
##
##
##
||Analysis ofnet ass|ets between|funds - prior year|||
|---|---|---|---|---|---|
||||Restricted|I/nresttleted|Tote/|
||||funds|funds|funds|
||||2020|2020|2020|
||Tangible fixed assets||2949068|16622048|19571,116|
||Current assets||467,996|5,f27,719|5,595,715|
||Creditors due within|one year|(177,675)|(2,760,383)|(2,938,058)|
||Creditors due in more than one year|||(1,283,343)|(1,283,343)|
||Provisions
for liabilities and charges|||(ee4,000)|(eed,ooo)|
||Total||3,239,389|16,822,041|20,061,430|
|27.|Reconcglatlon
ofnet movement||In funds to net cash flow from operating|activities||
|||||2021|2020|
|||||6||
||Net income forthe year (as per Statement ofFinancial Activities)|||940,069|270,461|
||AdJustments
for:|||||
||Depreciation
charges|||110,227|84.007|
||Property
impairment|||(164,690)||
||(Gain) / loss on investments|||(318,466)|11,170|
||Profit on the sale of|fixed assets||(52,357)|(500)|
||Decrease/(increase)|In debtors||306,453|(152,812)|
||Increase
in creditors|||123,832|866,934|
||Pension finance and|administration|costs|12,000|17,000|
||Contributions
to defined benefit pension schemes|||(108,000)|(115,829)|
||Net cash provided|by operating|activities|859,089|980,431|
##
##
##
##
##
##
##
##
##
##
|Principal|actuarial
assumptions
at the Balance sheet date (expressed|as weighted
averages):||
|---|---|---|---|
|||At 31August|At 31August|
|||2021|2020|
|||4$||
|Discount|Rats|1.60|1.50|
|Retail Prices Index (RPI) Inflation||3,60|3.20|
|LPI Pension Increases||3.60|3.20|
|Assumed|Percentage of Pension Taken as Tax Free Cash|20.00|20.OO|
||At 31 August|At31August|
|---|---|---|
||2021|2020|
||Years|years|
|Mortality rates (in years)|||
|-for a male aged 65 now|22.4|22.3|
|-at 65fora male aged 45 now|24.2|24.1|
|-fora female aged 65 now|24.3|24.2|
|-at 65forafemale aged 45 now|26.2|28.1|
|The Trust's shar|e ofthe|assets
In the scheme was:|||
|---|---|---|---|---|
||||At 31August|At 31August|
||||2021|2020|
||||6||
|Cash|||63,000|142,000|
|Funds|||1AI96,000|2,307,000|
|Annuity Policies||||'),450,000|
|Insured Assets|||1,402,000||
|Total fair value|ofassets||2,963,000|3,899,000|
|The actual return|on scheme assets was 6105,000(2020-8223,000).||||
|Ths amounts
recognised||in the Statement offinancial activities are ss follows:|||
||||2021|2020|
|---|---|---|---|---|
|Interest on assets|||(51,000)|(84,000)|
|Interest on liabilities|||63,000|81,000|
|Total amount recognised|In the Statement offinancial|activities|12,000|1T,ooo|
##
##
##
##
|Moveme|nts
in th|e present value ofthe defined benefit obligation|were as follows.|
|---|---|---|---|
||||2021|
||||8|
|Opening|defined|benefit obligation|4,783,000|
|Changes|to actuarial assumptions||11,000|
|Benefits|paid||(1,129,000)|
|Interest|on liabilities||83,000|
|Closing|defined|benefit obligation|3,728,000|
|Moveme|nts
in the fair value ofthe Trust's share ofscheme assets|were as follows:|
|---|---|---|
|||2021|
|Opening|fair value ofscheme assets|3,899,000|
|Interest|on assets|51,000|
|Return|on assets less Interest|54,000|
|Contributions||108,000|
|Benefits paid||(1,129.000)|
|Closing|fair value ofscheme assets|2,983,000|
##
##
|At 31 Aug
cancellable|ust
2021 the Trust
had commitments
to make futu
operating
leases as follows:|re
minimum
lease payments|under
non-|
|---|---|---|---|
|||2021|zozo|
|||8||
|Not later than 1 year||7,471|8,655|
|Later than|1 year and not later than 5years|5,918|4,285|
|||13,389|'i0,940|
##
#
##