2021-03-31-accounts - Turning Lives Around Ltd

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		PAGE
Legal and Administrative Information
Report ofthe	Supervisory Board	4-10
Report ofthe	Independent Auditors	11-14
Charity only	Statement ofFinancial Activities
Consolidated	Statement ofFinancial Activities
Charity only	Balance Sheet	17
Consolidated	Balance Sheet	18
Consolidated	Cash Flow Statement	19
Notes on the	Financial Statements	20-44

Legal and	administrative	administrative	administrative	administrative	administrative
Charity name						Turning Lives Around Ltd
Charity registration				number		515300
Company	registration				number	1790817
Registered	office and					4 Ashbrooke Business Park
Administration			address			Parkside Lane
						Leeds
						LS115SF
Supervisory		Board				Mr. I.Livingstone
						Mr. M.Ford
						Mr. D.Penman
						Mr. M.Meadowcroft
						Mrs. E.R.Tebbs-Ogutu
						Mr. R.Lamborn
						Mrs. M.A.Ballance
						Mr. M. White
						Mrs. SJewitt
						Mrs. G.Laidler
						Mr. N. Mather (appointed	4+ May 2021)
Chief Executive						Ms.JSpencer
Finance Director and
Company	Secretary					Mr. A D Marriott BAFCCA
Auditors						Brown Butler
						Chartered Accountants
						Leigh House
						28 —32St. Paul's Street
						LEEDS
						LS12JT
Bankers						Lloyds Bank pic
						PO Box 128
						69Albion Street
						LEEDS
						LSI IYX
Solicitors						Weightmans LLP
						100Old Hall Street
						Liverpool
						L3 9QJ

For the year ended	3	1	March	2021
					Unrestricted
					General	Designated	Restricted	TOTAL	TOTAL
					Funds	Funds	Funds	2021	2020
				Notes
INCOME FROM:
Donations and legacies					59,783	23,881		83,664	22,172
Charitable activities:
Contract funding Income from rent					2,249,647 3,174,310		49,343	2,298,990 3,174,310	2,117,006 2,899,130
Investments					15,464			15,464	24,000
Total					5499 04	23881	49343	5,572,428	5,062 308
EXPENDITURE ON:
Raising funds					47,633			47,633	35,175
Charitable activities:
Support Services Housing Management					2,466, 187 2,937,795	7,853		2,474,040 2,937,795	2,285,654 2,665,307
Other Charitable Services
Total					5451615	7853		5459468	4 986136
Net Income					47,589	16,028	49,343	112,960	76,172
Gross transfer between	funds					2 124	2,124
Net Income					47,589	13,904	51,467	112,960	76,172
Other recognised gains Gain/(loss) on revaluation		4ts losses ofassets			18,939			18,939	(30,000)
Actuarial losses on defined			benefit
pension scheme					(110,000)			(110,000)	(28,000)
Exceptional Item Flowerpots Debtor Impairment					(12,158)			(12,158)	(54,624)
Net movement in Funds					(55,630)	13,904	51,467	9)741	(36,452)
Reconcrtiori on offunds
Funds at 1 April 2020					(259480)	38,948	252,276	31,944	68,396
Funds at 31March 2021					(314,910)	52,852	303,743	41,685	31,944

			Unrestricted	Unrestricted
			General	General
			Fuads	Funds	General
		Notes	Continuing operations 5	Discontinued operations	Funds Total	Designated Funds	Restr(cted Funds f		TOTAL 2021	TOTAL 2020 5
INCOME FROM:
Donations snd legacies			59,783		59,783	23,881			83,664	22,172
Charitable activities:
Contract funding Income fram rent			2349,647 3,174,310		2,249,647 3,174,310		49,343		2,298,990 3,174,310	2,117,006 2,899,130
Other tradiag activities			72,0$6	110,545	182,631				182,631	300,873
Total			5455 26	110 45	5 66 71	23,881	49	3	5,739 95	5 39,181
EXPENDITURE ON:
Raising funds			150,$89	160,401	311,290				311,290	393,450
Charitable activities:
Support Services			2,466,756		2,466,756	7,853			2,474,609	2,285,654
Housing Management			2,869,570		2,869,570				2,869,570	2,602,508
Other Charitable Services
Other costs Corporation Tax		8, 11	2 118		2 118				2 118	718
Total			5 89 33	160401	5649734	7 53			5657587	5 82330
Net Income			66,493	(49,856)	16,637	16,028	49,343		82,008	56,851
Gross transfer between	funds					2 124	2 124
Net lacomc			66J93	(49R56)	16,637	13rt04	51,467		82,008	56R51
Other recognised gains &losses (Loss)/gain an revaluation ofassets					18,939				lft,939	(30,000)
Actuarial losses on defined benefit pension scheme					(110,000)				(110,000)	(28,000)
Net movement in Funds					(74/24)	13,904	51,467		(9,053)	(1,149)
Recenrsiarien offunds
Funds st I April 2020					(218,028)	38,948	252,276		73,196	74,345
Funds at31March 2021					(292/52)	52dI52	303,743		64,143	73,196

-Company Number	1790817
Charity only Balance sheet as at 31March 2021
		Note	2021	2020
FIXEDASSETS
Intangible assets Tangible assets Investments		14 15 16	4,865 605,805 ~15000	7,297 483,018 155000
			760,670	645,315
CURRENT ASSETS
Debtors		17	530,009	461,068
Cash at bank and in	hand		312473	120 030
			842,484	581,098
CURRENT LIABILITIES
Creditors —amounts	falling due within one year	18	582950	420,062
			582,950	420,062
NET CURRENT ASSETS			259,534	161,036
TOTAL ASSETSLESSCURRENT LIABILITIES			1,020,204	806,351
Creditors —amounts	falling due atter one year	19	170,519	147,407
NET ASSETS excluding pension liability			849,685	658,944
Defined pension scheme liability		27	808,000	627,000
NET ASSETS incl	pension liability		41685	31944
THE FUNDS OFTHE CHARITY
Restricted Funds		20	303,743	252,276
Unrestricted Funds		21	545,942	406,668
Pension Reserve		21	(808,000)	(627,000)
Total Funds			41,685	31944

Consolidated Bala	nce sheet as at 31	March 2021
			Note	2021	2020
FIXEDASSETS Intangible assets Tangible assets			14 15	4,865 761 583	7,297 648,496
				766,448	655,793
CURRENT ASSETS
Debtors			17	537,976	448,406
Cash at bank and in	hand			327341	172 167
				865,317	620,573
CURRENT LIABILITIES
Creditors —amounts	falling due within	one year	18	585 452	423 445
				585,452	423,445
NET CURRENT A.SSKTS				279865	197128
TOTAL ASSETSLESSCURRENT		LIABILITIES		1,046,313	852,921
Creditors —amounts	falling due after one year			174,170	152,725
NKT ASSETSexcluding pension liability				872,143	700,196
Defined pension scheme liability			27	808,000	627,000
NET ASSETSincl	pension liability			64 143	73196
THE FUNDS OFTHE CHARITY
Restricted Funds			20	303,743	252,276
Unrestricted Funds			21	568,400	447,920
Pension Reserve			21	(808,000)	(627,000)
Total Funds				64 143	73,196

				Note	2021		2020
Net cash flow from operating			activities	26		240,842	80,879
Corporation tax							(718)
Cash flow from investing	activities
Payments to acquire tangible		fixed assets			67,414		199,325
Net cash flow from investing		activities				67,414	199325
						173,428	(119,164)
Cash flow from financing	activities
New loans							122,000
Loan repayments Repayment offinance leases Interest paid					(8,957) (1,667) (7,630)		(6,662) (2,000) (4,185)
Net cash flow from financing			activities			18254	109,153
Net increase / (reduction)	in	cash				155,174	(10,011)
Cash at I April 2020						172,167	182,178
Cash at 31March 2021						327,341	172 767

7 Income from	investments	investments	investments
Charity only				Unrestricted			Total	Total
			General		Designated	Restricted	2021	2020
					g	g	g	g
Rent from subsidiary	entity			15,464			15,464	24,000
Bank interest received
				15,464			15,464	24000
Income Irom investments		in	the year ended		31March 2020 was K24,000 all ofwhich			was attrib
to general funds.
8 Expenditure	on
Charity only
				Unrestricted			Total	Total
			General		Designated	Restricted	2021	2020
				g
Raising funds Costs re investment				8,843			8,843	5,816
properties Fund raising activities				38,790			38,790	29,359
Charitable Activities:
Contract Funding
Support Services Housing Management			2,466,187 2,937,795		7,853		2,474,040 2,937,795	2,285,654 2,665,307
Other Charitable Activities
			5	451)615	7%853		5,459,468	4,986136

			2021	2020
			g	g
Audit Legal Annual	and accountancy and professional general meeting	fees fees costs	10,560 20,656 31,216	10,320 23,483 2,336 36,139

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Expenditure on, con Consolidated	tinued from page 27	tinued from page 27
	Unrestricted			Total	Total
	General	Designated	Restricted	2021	2020
Raising funds Trading costs Fund raising activities	272,500 38,790			272,500 38,790	364,091 29,359
Charitable Activities:
Contract Funding
Support Services	2,466,756	7,853		2,474,609	2,285,654
Housing Management	2,869,570			2,869,570	2,602,508
Other Charitable Activities
	5,647,616	7,853		5,655,469	5,2S1,612
Other costs
Corporation Tax	2,118			2,118	718
	5649,734	7,853		5,657587	5,282,330

			2021	2020
				K
Audit	and accountancy	fees	17,010	15,080
Legal Annual	and professional general meeting	fees costs	21,349	24,075 2,336
			36,639	41,491

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Net incoming/(out	go	esources	for t	he year
				2021		2020
		Charity		Consol'd		Charity	Consol'd
					g	g
Depreciation Amortisation		16,893 2,432			22,226 2,432	17,271 2,433	31,533 2,433
Operating lease charges		47,827			47,827	47,053	47,053
Interest on loans			6,993		7,630	3,548	4,185
Finance costs on LGPS Pension		15,000			15,000	12000	12,000
10 Auditor's remuneration
						2021	2020
						g
Audit fee in respect ofthe financial		statements				8,715	8,300
Other fees payable to auditor: Audit ofthe charity's subsidiaries						4,790	2,510
Tax compliance services						360	180
Non audit services						1,335	1,980
						6,485	4,670
11 Tax on net income
Consolidated
						2021	2020
Current taxation
UK Corporation tax						2,118	455
Adjustment to prior year							623
						2,118	1,078
Deferred taxation
Origination and reversal	oftiming	differences					(360)
Tax on net income						2,118	718
The tax charge for the year is higher than			(2020:higher		than) the	standard rate	ofcorporation	tax in
the UKof19%(2020: 19%).
The differences are reconciled below:
						2021	2020
Net income before tax						82,008	56,851
Corporation tax at standard rate Effects ofnet income exempt Irom taxation Expenses not deductible for tax purposes Effectoftaxation losses						15,582 (21,060) 1,013 6,583	10,802 (14,336) 2,017 1,612
Adjustment to prior year							623
Total tax charge						2,118	718

13 Staff co	sts and numbers
		2021			2020
		Charity	Consol'd	Charity	Consol'd
Salaries and wages Social Security costs		2,746,887 238,056	2,940,097 248,592	2,602,876 218,394	2,858,014 233,098
Pension contributions:-
Contributions	to defined	78,265	83,I I I	72,948	79,758
contribution	scheme
Operating costs re defined benefit		56,000	56,000	76,000	76,000
scheme
		3,119408	3827,800	2,970,218	3,246,870

he average weekly number ofempl	he average weekly number ofempl	oyees during the y	ear, analysed	by function, was:	by function, was:
Number ofemployees		2021		2020
		Charity	Consol'd	Charity	ConsoVd
Support Services	and Housing	108	108	112	112
Management Other Charitable	Services		17		21
Support costs			9	9	9
		117	134	121	142

Parent and Consolidated
	Website	Total
Cost
At 31March 2020	12,162	12,162
At 31March 2021	12,162	12,162
Amortlsatlon
At 31March 2020	4,865	4,865
Charge for the year	2,432	2432
At 31March 2021	7297	7297
Net BookValue
At 1 April 2020	7497	77297
At 31March 2021	4,865	4,$65

15 Tangible fixed assets
Charity only	Freehold	Leasehold	Furniture	Total
	Properties	Improvements	Equipment
Valuation / cost				K
At 1 April 2020	438,061	10,977	430,264	879,302
Additions during year Disposals during year Revaluation	23,939		115,741 (105,480)	115,741 (105,480) 23,939
At 31March 2021	462,000	10,977	440,525	913,502
Depreciation
At 1 April 2020 Charge for year Relating to disposals		10,977	385,307 16893 105,480	396,284 16893 105480
At 31 March 2021		10,977	296,720	307,697
Net BookValue
At 1 April 2020	438,061		44,957	4$3,018
At 31 March 2021	462,000		143,805	605,$05

		Freehold	Total
		properties
Cost		453,456	453,456
Accumulated	depreciation	7492	7492
		445,964	445,964

Consolidated
					Furniture
	Freehold	Leasehold	Leasehold	Motor	th
	Properties	Property	Improvements	Vehicles	Equipment	Total
Valuation / cost
At 1 April 2020	438,061	155,000	31,808	10,700	436,720	1,072,289
Additions during year Disposals during year			(20,831)		116,374 (111,293)	116,374 (132,124)
Revaluation	23,939	(5,000)				18,939
At 31March 2021	462,000	150,000	10,977	10,700	441,801	1,075,478
Depreciation
At 1 April 2020			30,247	3,121	390,425	423,793
Charge for year Relating to disposals			1,561 20,831	2,229	18,436 111,293	22,226 132,124
At 31March 2021			10,977	5,350	297,568	313,895
Net BookValue
At 1 Ap1112020	438,061	155,000	1,561	7,5I9	46,295	648,496
At 31March 2021	462,000	150,000		5,350	144433	761,583

vacant posse	ssion method. The h	istorical costofthe pr	operties included	at valuatio
		Freehold	Leasehold	Total
		property	Property
Cost		453,456	185,091	638,547
Accumulated	depreciation	7492	7222	14714
		445 964	177869	623,833

6 Investments held as fixed Charity only	assets
	Leasehold
	investment	Subsidiary
	property	undertakings	Total
Valuation
At 1 April 2020	155,000		155,000
Revaluation	5,000		5,000
At 31March 2021	150,000		150,000
Net book value
At 1 April 2020	155,000		155,000
At 31 March 2021	150000		150000

undertakings is not less tha	n the amount included	in the balance sheet.
			Business 900
		Flowerpots	Community
		Day Nursery		Interest
Undertaking		Limited	Company
Company number		09308460	06913644
Holding Proportion ofvoting rights	and shares held	1 Ordinary share 100%		100%
Principal activity		Day nursery	Cleaning	services
Aggregate assets, liabilities	and funds	(67,294)		22,972
Trading summary:
Turnover		110,545		112,788
Expenditure		148,086		106,198
(Loss)/profit		(37,541)		6,590

7 Debtors
	2021		2020
	Charity	Consol'd	Charity	Consol'd
Due within one year: Net rents in arrears	264,100	264,100	259,374	259,374
Amounts owed by group undertaking Other debtors	30,944 128,115	164,669	40,760 57,605	78,674
Prepaid expenses	106,850	109,207	103329	110,358
	530,009	537976	461068	448,406

8 Creditors
	2021		2020
	Charity	Consol'd	Charity	Consol'd
Amounts fafling due within one year:
Bank loans	10,560	10,560	9,989	9,989
Obligations under finance lease	16,320	18,669		2,349
Amounts owed to group undertaking	18,146		24,892
Trade creditors	191,677	192,773	87,394	88,548
Other creditors	130,944	133,811	108,713	114,102
Social security and other taxes	58,888	65,083	53,689	67,146
Accruals and deferred income	156,415	164556	135,385	141,311
	582950	585,452	420 062	423,445

9 Creditors - Amounts faUing	due after one year:	due after one year:
	2021		2020
	Charity	Consol'd	Charity	Consol'd
		K
Bank loans	137,879	137,879	147,407	147,407
Finance loan creditor	32,640	36,291		5,318
	170,519	174,170	147407	152,725

	Charity and Con	solidated
						Gains,
			Balance	Incoming	Outgoing	losses and	Balance
			01.04.2020	Funds	Funds	transfers	31.03.2021
(i)	Dewsbury Road Day Centre		155,060				155,060
	Fund
(ii)	Sahara Nationality	Fund	3,500				3,500
(iii)	Sahara Women Without Recourse Fund		11,118				11,118
(iv) (v)	Sinclair DAT Fund LCC Refurbishment	Fund	29,120 666				29,120 666
(vi)	Tempest Road Development Fund		5,092				5,092
(vii) (viii)	Right to Buy Fund Computer/IT Fund		47,720	9,517 39,826		2,124	57,237 41,950
			252476	49343		2,124	303743
						Gains,
			Balance	Incoming	Outgoing	losses and	Balance
			01.04,2019	Funds	Funds	transfers	31.03.2020
(i)	Dewsbury Road Day Centre Fund		155,060				155,060
(ii)	Sahara Nationality	Fund	3,500				3,500
(iii)	Sahara Women Without Recourse Fund		11,118				11,118
(iv) (v)	Sinclair DAT Fund LCC Refurbishment	Fund	29,120 666				29,120 666
(vi)	Tempest Road Development Fund		5,092				5,092
(vii)	Right toBuy Fund		204,556	47,720 47,720			47,720 252,276

Charity only
			Balance 01.04.2020	Incoming Funds	Outgoing Funds	Gains and Losses	Transfers	Balance 31.03.2021
				K			f.
(a) General Maintenance		Fund
(b) Furniture/Renewals (c) Redundancy Fund (d) Welfare Fund (e) Scheme Funding		Fund	1,180 3,770 33,998	23,881	(363) 7490		2,124	1,180 3,407 48,265
			38,948	23,881	(7,853)		(2,124)	52,852
General Funds			367,720	5,499,204	5,380,615	6781	-	493,090
			406,668	5,523,085	(548$,468)	6,781	(2,124)	545,942
Pension reserve			627,000	-	71,000	110,000		808,000
			220,332	5,523,085	5,459,468	103,219	2,124	262,058
			Balance 01.04,2019	Incoming Funds	Outgoing Funds	Gains and Losses	Transfers	Balance 31.03.2020
(a) General Maintenance		Fund
(b) Furniture/Renewals (c) Redundancy Fund (d) Welfare Fund (e) Scheme Funding		Fund	1,180 3,795 19,896 24,871	17,172 17,172	(25) 3,070 (3,095)			1,1$0 3,770 33,998 3$,948
General Funds			349,343	4,997,416	(4,$95,041)	(84,624)	626	367,720
Revaluation reserve			626				626
			374,840	5,014,588	(4,89$,136)	(84,624)		406,668
Pension reserve			511000	-	8$,000	28,000		627,000
			136,160	5,014588	4,9$6136	112,624		220 32
Unrestricted	Funds
Consolidated
			Balance 01.04.2020	Incoming Funds	Outgoing Funds	Gains and losses	Transfers	Balance 31.03.2021
			K
(a) General Maintenance		Fund
(b) Furniture/Renewals (c) Redundancy Fund (d) Welfare Fund (e) Scheme Funding		Fund	1,180 3,770 33998 38,948	23 881 23,881	(363) 7,490 (7,853)		(2,124)	1,180 3,407 48,265 52,852
General Funds			408 972	5,666371	5,578,734	18939	-	515,548
Pension reserve			447,920 627,000	5,690852 -	(5,586,587) 71000	18839 110,000	(2,124)	568,400 808000
			179080	5,690452	5,657587	91,061	2124	239600

21 Unrestricted f	unds, c	ontinued from	page 38
		Balaace 01.04.2019	Incoming Funds	Outgoing Funds	Gains and losses	Transfers	Balance 31.03.2020
							K
(a) General Maintenance	Fund
(b) Furniture/Renewals (c) Redundancy Fund (d) Welfare Fund (e) Scheme Funding	Fund	1,180 3,795 19,896 24,871	17,172 17,172	(25) (3,070 (3,095)			1,180 3,770 33,998 38,948
General Funds		355,292	5,274,289	(5,191,235)	(30,000)	626	408,972
Revaluation reserve		626	-	-	-	626
		380,789	5,291,461	(5,194,330)	(30,000)		447,920
Pension reserve		511,000	-	88,000	28,000		627,000
		130411	5491,461	5482 30	58,000		179,080

22 Analysis ofnet a Charity only	ssets between f	unds excluding	pension lia	bility
		General	Restricted	Total	Total
		Funds	Funds	2021	2020
Fixed assets		610,670	150,000	760,670	645,315
Current assets		688,741	153,743	842,484	581,098
Creditors, falling due within Creditors, falling due more	one year than one year	(582,950) 170519		(582,950) 170,519	(420,062) 147,407
Net Assets		545,942	303,743	849,685	658,944

Consolidated
	General	Restricted	Total	Total
	Funds	Funds	2021	2020
Fixed assets	616,448	150,000	766,448	655,793
Current assets	711,574	153,743	865,317	620,573
Creditors, falling due within one year	(585,452)		(585,452)	(423,445)
Creditors, falling due more than one year	174,170		174 170	152,725
Net Assets	568400	303,743	872,143	700,196

t 31 March 2021 the company had future mini	mum operating leases paymen	ts as follo
	2021	2020
	f.	g
Within one year	49,096	45,245
Between one and five years	124241	150,797
	173,337	196,042

26 Recon	ciliation ofne	t e	xpenditure to net cas	h flow from	operating	activities	activities
					2021	2020
					g
Net income	/ (expenditure)	for	the year		82,008		56,851
Pension scheme adjustment					71,000		88,000
Interest paid					7,630		4,185
Depreciation	and amortisation		charges		24,658		33,965
Corporation	tax				2,118		718
(Increase) in debtors				(89,570)		(150,496)
Increase in creditors				142,998			47,656
				240,842			80,879
26.1 Analysis ofchanges		in	net debt
			01.04.2020	Net cash flows			31.03.2021
Cash			172,167	155,174			327,341
Debt due within one year			(12,338)	(571)	(16,320)		(29,229)
Debt due atter	one year		152725	11195	(32,640)		174,170
			7,104	165,798	(48,960)		123,942

The key assumptions used b purposes were:-	y the actuary in updatin	g the latest valuation of the	Fund fo
		2021	2020
Discount rate for liabilities		2.10	2.30
Pension increases		2.70	2.00
Pension accounts revaluation	rate	2.70	2.00
Salaries increases		3.95	3.25
CPI Inflation		2.70	2.00

Males			2021		2020
Member aged 65	at accounting	date	21.9		21.8
Member aged 45	at accounting	date	22.6		22.5
Females
Member aged 65	at accounting	date	24.7		24.6
Member aged 45	at accounting	date	25.8		25.7
The approximate	split ofthe assets ofthe Fund is as set			out below:-
				2021		2020
Equities Property Government bonds				79.7 3.8 8.3		77.5 4.5 9.6
Corporate bonds Cash				4.6 2.0		5.1 1.9
Other				1.6		1.4
				100.0		100.0

The actual returns on assets are set out below:-
	2021	2020
Interest income on assets	41,000	48,000
Gains/(Losses) on assets	378,000	(194,000)
Actual return on assets	419,000	(146,000)

27 Pensions, continued from page 42	27 Pensions, continued from page 42
The changes in the fair values ofthe assets were:-
		2021	2020
Opening fair value of assets Interest income on assets		1,841,000 41,000	2,028,000 48,000
Re-measurement gains/(losses)	on assets	378,000	(194,000)
Members contributions		10,000	10,000
Net benefits paid out		(92,000)	(51,000)
Closing fair value ofassets		2,178,000	1,841,000
The changes in the present values ofthe defined benefit obligations:- 2021			2020
Opening present value ofliabilities Current service costs		2,468,000 56,000	2,539,000 58,000
Interest expense on defined benefit obligations Members contributions		56,000 10,000	60,000 10,000
Actuarial losses/(gains) on liabilities		488,000	(166,000)
Net benefits paid out Past service costs		(92,000)	(51,000) 18,000
Closing present value of liabilities		2,986,000	2,468,000
The reconciliation ofthe funded	status ofthe Fund to the balance sheet is as follows:-
		2021	2020
Fair value ofassets		2,178,000	1,841,000
Present value of funded defined	benefit obligations	2,986,000	2,468,000
Net pension liability		(808,000)	(627,000)

The pension costs recogn	ised in the statement	offinancial activitie	s are made up as	follows:-
			2021	2020
Operating Costs:- Current service cost			56,000	58,000
Past service cost				18,000
Finance costs:—
Interest costs on pension	liabilities		15,000	12,000
			71,000	88,000
Actuarial losses		110,000		28,000
Total pension costs recognised		181,000		116,000
Sensitivity Analysis:-		Base figure	+0.1%	-0.1%
Discount Rate
Present value oftotal obligation		2,986,000	2,926,000	3,049,000
Projected service cost		75,000	73,000	77,000
Rate ofincrease in salaries
Present value oftotal obligation		2,986,000	2,995,000	2,977,000
Projected service cost		75,000	75,000	75,000
Rate ofincrease in pensions
Present value of total obligation		2,986,000	3,037,000	2,935,000
Projected service cost		75,000	77,000	73,000
Post retirement mortality	assumption		-I year	+I year
Present value oftotal obligation		2,986,000	3,096,000	2,879,000
Projected service cost		75,000	78,000	72,000