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|**Company information**|||
|---|---|---|
|**Company registration number:**|01339524||
|**Charity registration number:**|0507245||
|**Principal address and registered office:**|Wentworth Castle||
||Lowe Lane||
||Stainborough||
||BARNSLEY||
||SouthYorkshire||
||S75 3ET||
|**Key Management Personnel:**|Y Mellor - Principal and Chief Executive/||
||Accounting Officer(to28" February 2023)||
||E Beal - Interim Principal and Chief||
||Executive/Accounting|Officer(from 1"March|
||2023)||
||S Saunders-Assistant|Principal Finance and|
||Business Services/ (Interim Deputy||
||Principal/CFOfrom 1"March 2023)||
||E Beal -Assistant Principal, Curriculum, Quality||
||and Market Development (to28"February 2023)||
||D Lawson-Assistant Principal, Student||
||Experience||
|**Company Secretary:**|S Johnson||
||(acted as Clerktothe Corporationthroughout||
||theyear)||
|**Members:**|M Bowie|N James|
||C Clifton|S Schmoller|
||N Copley|E Beal|
||ACorrigan|E Norton|
||B Craig|M Sanders|
||C Forrest|E Stanley|
||S Horner|TThornton|
|**Bankers:**|Lloyds Bank pic||
||14Church Street||
||SHEFFIELD||
||S1 1 HP||
|**Solicitors:**|Eversheds LLP||
||Cloth Hall Court||
||Infirmary Street||
||LEEDS||
||LS1 2JB||
|**Internal auditors:**|Barnsley MBC- Internal Audit Services (to 31 July||
||2022)||
||Westgate Plaza||
||PO Box 634||
||BARNSLEY||
||S709EY||
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|Reportof the members of the **Board** ofGovernors incorporatingthe||
|---|---|
|Operating and Financial Review and Strategic Report|**2-16**|
|Corporate governance statement incorporatingthe statement of||
|internal control|**17-25**|
|Statement ofRegularity, Propriety and Compliance|**26**|
|Statement ofgoverning body's responsibilities|**27-28**|
|Independent auditor's reporttothe members ofThe Northern Coi lege for||
|Residential Adult Education Limited|**29-32**|
|Statement ofcomprehensive income|33|
|Balance sheet|**34**|
|Statement ofchanges in reserves|**35**|
|Statement ofcashflows|**36**|
|Notestothe financial statements|**37-60**|
|Reporting accountant's assurance reporton regularity||
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|**Key performance indicator**|**Key performance indicator**|**Measure/Target**|**Actual for**|
|---|---|---|---|
||||**2021/22**|
|Surplus as% of income - Exc FRS 102 Pension||3.1%|(37.0%)|
|Surplus as% of income - Inc FRS 102 Pension|||(54.08%)|
|EBITDA %- Education Specific||7.6%|(33.4%)|
|Pay as% of income (Exe restructuring and||61.5%|82.05%|
|FRS102)||||
|% of ESFA/SYMCA/WYCA|recurrent grant|87.2%|83.44%|
|income||||
|Adjusted Current Ratio||>1.6|1.86|
|Cash Days||>40|270|
|Borrowina as % of turnover||0%|0%|
|Enrolments||4,875|1,545|
|Achievement rate%||93.6%|93%|
|Financial Health||Outstandinq|Requires Improvement|
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|Number of employees who were trade union representatives for||
|---|---|
|the oeriod||
|The FTE number of trade union representatives forthe period||
|Percentage of working hours spent on facility time during this|1 Representative Between 1-50%|
|oeriod||
|The total pay bill during this period|£2,423,529|
|The total cost of Facility time during this period|£1,170.24|
|Percentage of the total pay bill spent on facility time|0.05%|
|Number of hours spent on facility time|46|
|Number of hours spent on trade union activities|22|
|Percentage of total paid facility time hours spent on paid trade|47.83%|
|union activities||
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|||||||**Attendance**|
|---|---|---|---|---|---|---|
||**Date of**|**Term of**|**Date of**|**Status of**|**Committees**|%**(Board)**|
||**appointment**|**office**|**resignation**|**appointment**|**served**|**2021/22**|
|Mrs E|01.03.2023|Ex-officio||Principal/Chief|Member - Policy|n/a|
|Beal||||Executive|and Finance,||
||||||COSE||
|**MsM**|15.09.2022|4 years|27.01.2023|Staff - Academic|Member - COSE|n/a|
|Bowie|||||||
|Prof M|First|To|31.07.2022|Interest or|Chair-COSE (to|71%|
|Bramhall|Appointed|31.07.202||expertise|31.07.2022)||
||19.07.13|2||relevant to the|||
||Reappointed|||College|||
||30.09.2021||||||
##
|||||||**Attendance**|
|---|---|---|---|---|---|---|
||**Date of**|**Term of**|**Date of**|**Status of**|**Committees**|%**(Board)**|
||**appointment**|**office**|**resia nation**|**appointment**|**served**|**2021/22**|
|MsC|01.09.21|To|23.02.2023|Interest or|Member- Policy|86%|
|Clifton||31.08.2025||expertise|and Finance;||
|||||relevanttothe|Remuneration||
|||||Colleqe|||
|**`MrN`**|11.04.2022|4years||Interest or|Member- Policy|100%|
|Copley||||expertise|and Finance;||
|||||relevanttothe|Remuneration||
|||||Colleae|||
|**`MsA`**|First|4years||Interest or|Member- Policy|100%|
|Corrigan|Appointed|||expertise|and Finance,||
||01.08.2018|||relevanttothe|Remuneration||
||Reappointed|||College|||
||01.08.2022||||||
|Mr B|11.04.2022|4years||Interest or|Member-|100%|
|Craig||||expertise|Curriculum,||
|||||relevanttothe|Qualityand||
|||||College|Student||
||||||Experience||
|MrJ|First|To|31.12.2021|Interest or|Member - Policy|50%|
|Edwards|Appointed|**31.12.21**||expertise|& Finance,||
||01.08.09|||relevanttothe|Remuneration||
||Reappointed|||College|||
||15.07.21||||||
|DrC|First|4years||Interest or|Chair - COSE|100%|
|Forrest|Appointed|||expertise|(from||
||01.08.2018|||relevanttothe|01.08.2022},||
||Reappointed|||College|Lead Governor||
||01.08.2022||||Safeauardina||
|**`Mr R`**|First|Sept|30.06.2022|Interest or|Co-chair - Board|83%|
|Harrison|Appointed|2022||expertise|of Governors;||
||08.05.01|||relevanttothe|Chair -Company;||
||Reappointed|||College|Chair- Search||
||12.03.20||||||
|DrS|01.09.21|4years||Interest or|Member-|86%|
|Horner||||expertise|Curriculum,||
|||||relevanttothe|Quality and||
|||||College|Student||
||||||Experience||
|**`MrN`**|13.07.17|**4** years||Staff- Business|Member- Policy|100%|
|James|Reappointed|||Support|and Finance||
||15.07.21||||||
||10.03.2022||||||
##
|||||||**Attendance**|
|---|---|---|---|---|---|---|
||**Date of**|**Term of**|**Date of**|**Status of**|**Committees**|%**(Board)**|
||**appointment**|**office**|**resignation**|**appointment**|**served**|**2021/22**|
|Mr F|First|To|31.12.2022|Interest or|Member -|50%|
|Lord|Appointed|31.12.21||expertise|Remuneration||
||13.12.02|||relevanttothe|||
||Reappointed|||College|||
||30.9.2021||||||
|MrC|First|Sept|30.06.2022|Interest or|Co-chair- Board|83%|
|Macdon|Appointed|2022||expertise|of Governors;||
|aid|13.09.02|||relevant tothe|ViceChair-||
||Reappointed|||College|Company; Chair-||
||12.03.20||||Policy & Finance;||
||||||Member-||
||||||Remuneration,||
||||||Search||
|Ms E|16.03.2022|4years||Interest or|Member-Audit|67%|
|Norton||||expertise|||
|||||relevanttothe|||
|||||College|||
|MsY|20.08.18|Ex-officio|28.02.2023|Principal|Member- Policy|100%|
|Mellor|||||& Finance, COSE,||
||||||Search||
|MrH|01.09.21|4years|06.06.2022|Interest or|Member-|83%|
|Otulako||||expertise|Curriculum,||
|wski||||relevant tothe|Quality and||
|||||College|Student||
||||||Experience||
|Cllr K|First|To|31.07.2022|Interest or|Vice-Chair-|86%|
|Richards|Appointed|31.7.2022||expertise|Board of||
|on|18.03.11|||relevant tothe|Governors;||
||Reappointed|||College|Member-Audit||
||30.9.21||||||
|MrA|16.12.2021|To|31.05.2022|Student||67%|
|Roberts||31.05.2022|||||
|MrM|11.04.2022|4years||Interest or|Chair - Board of|100%|
|Sanders||||expertise|Governors,||
|||||relevanttothe|Company, Policy||
|||||College|and Finance:||
||||||Member-||
||||||Remuneration||
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|||||||**Attendance**|
|---|---|---|---|---|---|---|
||**Date of**|**Term of**|**Date of**|**Status of**|**Committees**|**% (Board)**|
||**appointment**|**office**|**resignation**|**appointment**|**served**|**2021/22**|
|MrS|01.04.21|4 years||Interest and|Member-Audit,|100%|
|Schmolier||||expertise|Vice -Chair -||
|||||relevant to the|Board||
|||||College|||
|Ms E|First|**4** years||Interest and|Chair-Audit|100%|
|Stanley|Appointed|||expertise|||
||16.07.15|||relevant tothe|||
||Reappointed|||College|||
||16.07.19||||||
|**MrA**|First|**4** years||Current student||n/a|
|Taylor|Appointed||||||
||22.02.2023||||||
|ProfT|First|2 years||Interest and|Member - COSE,|86%|
|Thornton|Appointed|||expertise|Policy & Finance;||
||16.07.09|||relevant tothe|Chair -||
||Reappointed|||College|Remuneration||
||01.08.2022||||||
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|||**2022**|**2021**|
|---|---|---|---|
||||**as**|
||||**restated**|
||**Note**|**£'000**|**£'000**|
|**Income**||||
|Funding body grants|3|**2,873**|**4,204**|
|Tuition fees and education contracts|4|**255**|**325**|
|Research grants and contracts|5|**3**|**4**|
|Other income|6|**174**|**67**|
|Investment income|7|**7**|**6**|
|**Total income**||**3,312**|**4,606**|
|**Expenditure**||||
|Staff costs (inc restructuring)|8|**3,188**|**3,042**|
|Other operating expenses|9|**1,576**|**1,466**|
|Depreciation|12/13|**207**|**218**|
|Interest and other finance costs|10|**85**|**102**|
|**Total expenditure**||**5,056**|**4,828**|
|**(Deficit) for the year**||**(1,744)**|**(222)**|
|Re-measurement of net defined benefit||||
|pension liability||**4,334**|**905**|
|**Other comprehensive income for the**||||
|**year**||**4,334**|**905**|
|**Total comprehensive income for the year**||||
|**attributable to the Corporation of the**||||
|**College**||**2,590**|**683**|
##
|**Balance Sheet**||||
|---|---|---|---|
|||**2022**|2021|
||||as restated|
||**Note**|**£'000**|£'000|
|**Fixed assets**||||
|Tangiblefixed assets|12|**3,786**|3,841|
|Intangiblefixed assets|13|**32**|25|
|||**3,818**|3,866|
|**Current assets**||||
|Debtors|14|**242**|125|
|Investments||**2,116**|2,616|
|Cash at bank and in hand|20|**1,005**|2,184|
|||**3,363**|4,925|
|**Less: Creditors: amounts falling due within one year**|15|**(1,887)**|(2,220)|
|**Net current assets**||**1,476**|2,705|
|**Total assets less current liabilities**||**5,294**|6,571|
|**Creditors: amounts falling due after more than one**||||
|**year**|16|**(689)**|(769)|
|**Provisions**||||
|Defined benefit obligations|17/19|**(1,101)**|(5,253)|
|Otherprovisions|17/19|**(791)**|(426)|
|**Total net assets**||**2,713**|123|
|**Unrestricted reserves**||||
|Incomeand expenditurereserve||**2,713**|123|
|**Total funds**||**2,713**|123|
##
|**Statement of changes in reserves**||
|---|---|
||**Income and**|
||**expenditure**|
||**reserve**|
||**£'000**|
|Balance at 1 August 2020 (as restated)|(560)|
|Deficit from the income and expenditure account|(222)|
|Other comprehensive income|905|
|Total comprehensive income forthe year|`683`|
|**Balance at 31July 2021 (as restated)**|**123**|
|Deficit from the income and expenditure account|(1,744)|
|Other comprehensive income|4,334|
|Total comprehensive income forthe year|2,590|
|**Balance at 31July 2022**|**2,713**|
##
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|||**2022**|2021|
|---|---|---|---|
||||as restated|
||**Note**|**£'000**|£'000|
|**Cash from operating activities**||||
|(Deficit)forthe year||**(1,744)**|(222)|
|**Adjustment for non-cash items**||||
|Depreciation||**204**|196|
|Amortisation||**3**|22|
|(lncrease)/Decrease in debtors||**(116)**|117|
|(Decrease)/lncrease in creditors due within one year||**(333)**|618|
|(Decrease)/lncrease in creditors due after one year||**(80)**|141|
|Increase in provisions||**361**|49|
|Pension cost||**370**|596|
|Pension contributions paid||**(273)**|(401)|
|**Adjustments for investing activities**||||
|Investment income||**(7)**|(6)|
|Interestpayable||**85**|102|
|**Net cash from operating activities**||**(1,530)**|1,212|
|**Cash flows from investing activities**||||
|Investment income||**7**|6|
|Payments madeto acquirefixed assets||**(156)**|(380)|
|||**(149)**|(374)|
|**(Decrease)/increase in cash and cash equivalents in the**||||
|**year**||**(1,679)**|838|
|**Cash and cash equivalents beginning ofthe year**||**4,800**|3,962|
|**Cash and cash equivalents at end of the year**|**20**|**3,121**|4,800|
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||2021|2021|2021|
|---|---|---|---|
||As|||
||previously|||
||reported|Adjustment As restated||
|**Changes to the Balance Sheet**|**£'000**|**£'000**|**£'000**|
|Tangible fixed assets|2,072|1,769|3,841|
|Net(liabilities)/assets|(1,646)|1,769|123|
|Unrestricted reserves||||
|Income and expenditure reserve|(1,646)|1,769|123|
||(1,646)|1,769|123|
||2020|2020|2020|
||As|||
||previously|||
||reported|Adjustment As restated||
|**Changes to the Balance Sheet**|**£'000**|**£'000**|**£'000**|
|Tangiblefixed assets|1,951|1,733|3,684|
|Netassets|(2,293)|1,733|(560)|
|Unrestricted reserves||||
|Income and expenditure reserve|(2,293)|1,733|(560)|
||(2,293)|1,733|(560)|
##
|**2. Prior period adjustment (continued)**||||
|---|---|---|---|
||2021|2021|2021|
||As|||
||previously|||
||reported|Adjustment As restated||
||**£'000**|**£'000**|**£'000**|
|**Changes to the Statement of comprehensive income**||||
|Depreciation|254|(36)|218|
|Total expenditure|4,864|(36)|4,828|
|Deficitfortheyear|(258)|36|(222)|
|Total comprehensive incomefortheyearattributableto|647|36|683|
|the corporation of the college||||
|**Changes to the Statement of changes in equity**||||
|Balance at 1 August 2020|(2,293)|1,829|(464)|
|Deficitfromthe income and expenditureaccount|(258)|36|(222)|
|Total comprehensive incomefor theyear|647|36|683|
|Balance at 31 July 2021|(1,646)|1,769|123|
##
|**Notes to the financial statements**|||
|---|---|---|
|**3. Funding body grants**|**2022**|2021|
||**£'000**|£'000|
|Adult Skills Budget|||
|ESFA|**136**|3,869|
|SYMCA|**1,855**||
|WYCA|**639**||
|Adult Learner Loan Bursary|**98**|191|
|Advanced Learner Loans|**61**|71|
|Release of deferred capital grants|**84**|73|
||**2,873**|4,204|
|**4. Tuition fees and Education contracts**|**2022**|2021|
||**£'000**|£'000|
|Tuition Fees:|||
|Home fees and charges|**255**|325|
|**5. Research grants and contracts**|**2022**|2021|
||**£'000**|£'000|
|Release from Government capital grants|**3**|4|
|**6. Other income**|**2022**|2021|
||**£'000**|£'000|
|Catering and residence operations|**110**|46|
|Other income generating activities|**56**|13|
|Other|**8**|8|
||**174**|67|
|**7. Investment income**|**2022**|2021|
||**£'000**|£'000|
|Interest receivable|**7**|6|
##
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|Staff costs during the year were as follows:|**`2022`**|2021|
|---|---|---|
||**`£'000`**|£'000|
|Wages and salaries|**`1,977`**|2,088|
|Social security costs|**`185`**|200|
|Pension costs|**`953`**|660|
||**`3,115`**|2,948|
|Restructuring costs|||
|Contractual|**`73`**|87|
|Non-contractual||7|
||**`3,188`**|3,042|
||**`2022`**|2021|
|---|---|---|
||**Number**|Number|
|||As restated|
|Teaching staff:|||
|Teaching departments - teaching staff|**`28`**|38|
|Total Teaching support services|**`14`**|12|
|Total teaching staff|**`42`**|50|
|Non teaching staff:|||
|Other support services|**`8`**|3|
|Administration and central services|**`20`**|23|
|Premises|**`25`**|17|
|Total non teaching staff|**`53`**|43|
|Total staff|**`95`**|93|
##
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||**`2022`**|2021|
|---|---|---|
||**Number**|Number|
||**Key**|Key|
||**management**|management|
||**personnel**|personnel|
|£60,001 to £65,000|||
|£65,001 to £70,000|**3**|2|
|£70,001 to £75,000|||
|£75,001 to £80,000|||
|£80,001 to £85,000|||
|£85,001 to £90,000|||
|£90,001 to £95,000|||
|£95,001 to £100,000|||
|£100,001 to £105,000|||
|£105,001 to £100,000|**1**||
||**4**|3|
||**`2022`**|**`2021`**|
|---|---|---|
||**Number**|**Number**|
|||**As restated**|
|The number of key management personnel including the accounting|||
|officerwas:|**4**|4|
||**`2022`**|2021|
|---|---|---|
||**`£'000`**|£'000|
|Salaries|**`312`**|309|
|Pension contributions|**57**|56|
|Total key management personnel emoluments|**369**|365|
##
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|||**2022**|2021|
|---|---|---|---|
|||**£'000**|£'000|
|Salary||**107**|107|
|Pension|contribution|**23**|22|
|||**130**|129|
||**2021/22**|**2020/21**|
|---|---|---|
|Pay multiple ofthe Principal/Chief Executive/Accounting Officer|3.68|3.79|
|basic pay and the median earnings ofthe College's whole|||
|workforce|||
|Pay multiple ofthe Principal/Chief Executive/Accounting Officer|3.79|3.79|
|total emoluments and the median earnings ofthe College's whole|||
|workforce|||
||**2022**|2021|
|---|---|---|
||**£'000**|£'000|
|Emoluments|**151**|163|
|Pension contribution|**32**|34|
||**183**|197|
##
||**`2022`**|2021|
|---|---|---|
||**`£'000`**|£'000|
|Teaching costs|**`384`**|274|
|Non-teaching costs|**`245`**|298|
|Premises costs|**`947`**|894|
||**`1,576`**|1,466|
|Other operating expenses include:|**`2022`**|2021|
||**`£'000`**|£'000|
|Auditors' remuneration (excluding VAT)|||
|- Financial statements audit|**`46`**|`37`|
|Internal audit|**`4`**|2|
|**10. Interest and other finance costs**|||
||**`2022`**|2021|
||**`£'000`**|£'000|
|Net interestand defined benefit pension liability|**`85`**|102|
|**11. Taxation**|||
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||**Freehold**|**Improve-**||||
|---|---|---|---|---|---|
||**land and**|**ments**||||
||**buildings to property**||**Equipment**|**Vehicles**|**Total**|
||**£'000**|**£'000**|**£'000**|**£'000**|**£'000**|
|Cost||||||
|At 1 August2021 (as restated)|3,715|712|1,785|9|6,221|
|Additions||65|84||149|
|Disposals||||||
|At31 July2022|3,715|777|1,869|9|6,370|
|Depreciation||||||
|At 1 August2021 (as restated)|662|124|1,585|9|2,380|
|Chargeforthe year|95|50|59||204|
|Disposals||||||
|At31 July2022|757|174|1,644|9|2,584|
|**Carrying amount at 31July**
**2022**|**2,958**|**603**|**225**||**3,786**|
|Netbook amount at31 July
2021|3,053|588|200||3,841|
##
||**Software,**|
|---|---|
||**Website** &|
||**Branding**|
||**£'000**|
|Cost||
|At 1 August2021|54|
|Additions|9|
|At31 July 2022|63|
|Amortisation||
|At 1 August2021|29|
|Chargeforthe year|2|
|At31 July2022|31|
|**Net book value at 31July 2022**|**32**|
|Netbook amount at31 July 2021|25|
##
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##
||**2022**|`2021`|
|---|---|---|
||**£'000**|`£'000`|
|Amounts falling due within one year:|||
|Trade receivables|**154**|`33`|
|Prepayments and accrued income|**88**|`92`|
||**242**|`125`|
|**Creditors: amounts falling due within one year**|||
||**2022**|`2021`|
||**£'000**|`£'000`|
|Trade payables|**130**|`350`|
|Othertaxation and social security|**51**|`46`|
|Other creditors|**2**|`3`|
|Accruals and deferred income|**322**|`256`|
|Governmentcapital grants|**82**|`89`|
|Amounts owedtothe ESFA|**395**|`1,476`|
|Amounts owedto SYMCA|**905**||
||--||
||**1,887**|`2,220`|
|||**2022**|`2021`|
|---|---|---|---|
|||**£'000**|`£'000`|
|Governmentcapital|grants|**689**|`769`|
##
|||**Obligation**|||
|---|---|---|---|---|
|||**to fund**|||
||**Defined**|**deficit**|||
||**benefit**|**on USS**|**Enhanced**||
||**obligations**|**Pension**|**pension**|**Total**|
||**£'000**|**£'000**|**£'000**|**£'000**|
|At 1 August 2021|5,253|374|52|5,679|
|Additional provision|||||
|made/(released) in the year|(3,879)|393|(3)|(3,489)|
|Utilised in the year|(273)|(21)|(4)|(298)|
|At 31 July 2022|**1,101**|**746**|**45**|**1,892**|
||**2022**|2021|
|---|---|---|
|Price inflation|**2.9%**|2.6%|
|Net interest rate|**3.3%**|1.6%|
##
##
##
||**2022**|2021|
|---|---|---|
||**£'000**|£'000|
|Universities' Superannuation Scheme contributions paid|**193**|186|
|USS additional provisions|**393**|(177)|
||**`586`**|9|
|South Yorkshire Pensions Authority contributions paid|**273**|401|
|FRS 102(28) charge|**97**|197|
||**370**|598|
|Enhanced pension provision|**(3)**||
||**953**|607|
|Latest actuarial valuation|31 March 2020|
|---|---|
|Actuarial method|Projected Unit|
|Discount Rate|0.89%|
|Pensionable Salary Growth|n/a|
|Price Inflation (CPI)|2.1%|
|Market value of assets at date of last valuation|£66.5 Billion|
|Proportion of members' accrued benefits covered by the actuarial value of|79%|
|the assets||
##
##
||**At 31 July**|At 31 July|
|---|---|---|
||**2022**|2021|
||%|%|
|Future rate of increase in salaries|**3.75**|3.85|
|Future pension Increase rate (CPI)|**2.75**|2.70|
|Discount rate for scheme liabilities|**3.50**|1.60|
|||**At 31 July**|At 31 July|
|---|---|---|---|
|||**2022**|2021|
|Retiring|today|||
|Males||**22.6**|22.5|
|Females||**25.4**|25.3|
|Retiring|in 20 years|||
|Males||**24.1**|24|
|Females||**27.3**|27.2|
##
|eturn were:|||
|---|---|---|
||**Value at**|Valueat|
||**31July**|31 July|
||**2022**|2021|
||**£'000**|£'000|
|Equity instruments|**8,103**|**5,515**|
|Government bonds|**2,622**|**1,608**|
|Other bonds||**873**|
|Property|**1,073**|**1,011**|
|Cash/liquidity|**119**|**207**|
|Other||**2,275**|
|**Total fair value of assets**|**11,917**|**11,489**|
|**Actual return on plan assets**|**486**|**1,757**|
##
##
|follows:|||
|---|---|---|
||**2022**|2021|
||**£'000**|£'000|
|Fair value of plan assets|**11,917**|11,489|
|Present value of plan liabilities|**(13,018)**|(16,742)|
|**Net pensions liability**|**(1,101)**|(5,253)
-----|
|**Amounts recognised in the Statement of comprehensive income in respect of the **||**plan are as**|
|**follows:**|||
||**2022**|2021|
||**£'000**|£'000|
|**Amounts included in staff costs**|||
|Current service cost|**(364)**|(347)|
|Past service cost|**(ó)**||
|**Total**|**(370)**|(347)|
|||t|
||**2022**|2021|
||**£'000**|£'000|
|**Amounts included in interest and other finance costs**|||
|Net interest cost|**(85)**|(95)
___.....;...;..|
|**Amount recognised in Other comprehensive income**|||
||**2022**|2021|
||**£'000**|£'000|
|Return on pension plan assets|**_303_**|1,445|
|Experience gain/losses arising on defined benefit obligations|**(51)**|(538)|
|Change in financial assumptions underlying the scheme liabilities|**4,082**|-----|
|**Amount recognised in Other comprehensive income**|**4,334**|-----
907|
|**Movement in net defined benefit liability during year**|||
||**2022**|2021|
||**£'000**|£'000|
|Net defined benefit liability in scheme at 1 August|**(5,253)**|(5,868)|
|Movement in year:|||
|Current service charge|**(364)**|(347)|
|Past service cost|**`(6)`**|-----|
||**(370)**|(347)
_____:__...:...|
|Employer contributions|**273**|401|
|Curtailments||(251)|
|Interest cost|**(85)**|(95)|
|Actuarial gain|**4.334**|907|
|**Net defined benefit liability at 31July**|**(1,101)**|(5,253)
__;...;.._.;.|
##
|**Asset and Liability Reconciliation**|||
|---|---|---|
||**2022**|2021|
||**£'000**|£'000|
|**Changes in the present value of defined benefit**|||
|**obligations**|||
|**Defined benefit obligations at start of period**|**16,742**|15,773|
|Current service cost|**364**|347|
|Interest cost|**268**|249|
|Contributions by scheme participants|**59**|57|
|Actuarial (gains)/ losses|**(4,031)**|538|
|Curtailments||251|
|Benefits paid|**(390)**|(473)|
|Past ServiceCost|**6**||
|**Defined benefit obligations at end of period**|**13,018**|16,742|
|**Changes in fair value of plan assets**|||
||**2022**|2021|
||**£'000**|£'000|
|**Fair value of plan assets at start of period**|**11,489**|9,905|
|Interest income|**183**|158|
|Returnon plan assets (excluding net interest onthe|||
|defined benefit pension liability)|**303**|1,441|
|Employercontributions|**273**|401|
|Contributions by scheme participants|**59**|57|
|Benefits paid|**(390)**|(473)|
|**Fair value of plan assets at the end ofthe period**|**11,917**|11,489|
||At1|||
|---|---|---|---|
||August||**At 31 July**|
||2021|Cashflows|**2022**|
||£'000|£'000|**£'000**|
|Cash at bank and in hand|2,184|( 1,179)|**1,005**|
|Investments|2,616|(500)|**2,116**|
|Netfunds, cash and cash equivalents|4,800|(1,679)|**3,121**|
##
##
##