| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustee and advisers | 1 |
| Trustee’s report | 2- 8 |
| Independent auditor’s report on the financial statements | 9-12 |
| Consolidated statement offinancial activities | 13 |
| Consolidated balance sheet | 14-15 |
| Charity balance sheet | 16- 17 |
| Consolidated statement of cash flows | 18 |
| Notes to the financial statements | 19-47 |
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2022 | 2022 | 2022 | 2021 | ||
| Note | £ | £ | £ | £ | |
| Income from: | |||||
| Donations and legacies | 3 | 83,512 | 817,419 | 900,931 | 1,035,102 |
| Charitable activities | 4 | 7,488,633 | 1,158,647 | 8,647,280 | 8,117,173 |
| Other trading activities | 5 | - | 698,353 | 698,353 | 269,152 |
| Investments | 6 | - | 3,164 | 3,164 | 483 |
| Total income | 7,572,145 | 2,677,583 | 10,249,728 | 9421910 | |
| Expenditure on: | |||||
| Charitable activities | 7 | 6,145,787 | 4,339,793 | 10,485,580 | 9976,703 |
| Total expenditure | 6,145,787 | 4,339,793 | 10,485,580 | 9,976,703 | |
| Net incomel(expenditure) before net | |||||
| losses on investments | 1,426,358 | (1,662,210) | (235,852) | (554,793) | |
| Net losses on investments | - | (278) | (278) | (946) | |
| Net movement in funds before other | |||||
| recognised gains/(losses) | 1,426,358 | (1,662,488) | (236,130) | (555,739) | |
| Other recognised gainsl(losses): | |||||
| Actuarial gains/(losses) on defined | |||||
| benefit pension schemes | 24 | 2,589,000 | - | 2,589,000 | (249,000) |
| Net movement in funds | 4,015,358 | (1,662,488) | 2,352,870 | (804,739) | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 20,315,668 | 2,847,259 | 23,182,927 | 23.967,666 | |
| Net movement in funds | 4,015,358 | (1,662,488) | 2,352,870 | (804,739) | |
| Total funds carried forward | 24,331,026 | 1,184,771 | 25,515,797 | 23,16Z927 |
| CONSOLIDATED BALANCE SHEET | CONSOLIDATED BALANCE SHEET | CONSOLIDATED BALANCE SHEET | |||
|---|---|---|---|---|---|
| AS AT 31 | AUGUST 2022 | ||||
| 2022 | 2021 | ||||
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 12 | 25,051,230 | 25386,281 | ||
| Investments | 13 | 10,726 | 11,004 | ||
| 25,061,956 | 25.397,285 | ||||
| Current assets | |||||
| Stocks | 14 | 9,143 | 8,597 | ||
| Debtors | 15 | 462,862 | 341,390 | ||
| Cash at bank and in hand | 1,402,883 | 1.055,791 | |||
| 1,874,888 | 1.405,778 | ||||
| Creditors: amounts falling due within | one | ||||
| year | 16 | (1,060,128) | (966,386) | ||
| Net current assets | 814,760 | 439,392 | |||
| Total assets less current liabilities | 25,876,716 | 25836,677 | |||
| Creditors: amounts falling due after more | |||||
| than one year | 17 | (360,919) | (429,750) | ||
| Net assets excluding pension asset) | |||||
| liability | 25,515,797 | 25,406,927 | |||
| Defined benefit pension scheme asset / | |||||
| liability | 24 | - | (2,244,000) | ||
| Total net assets | 25,515,797 | 23,162,927 | |||
| Charity funds | |||||
| Restricted funds. | |||||
| Restricted funds excluding pension asset | 19 | 24,331,026 | 22,559,668 | ||
| Pension reserve | 19 | - | (2,244:000) | ||
| Total restricted funds | 19 | 24,331,026 | 20,315,668 | ||
| Unrestricted funds | 19 | 1,184,771 | 2,847,259 | ||
| Total funds | 25,515,797 | 23.162.927 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 12 | 21,241,048 | 21.805,743 | ||
| Investments | 13 | 10,726 | 11,004 | ||
| 21,251,774 | 21,816,747 | ||||
| Current assets | |||||
| Stocks | 14 | 9,143 | 8,597 | ||
| Debtors | 15 | 195601 | 128,466 | ||
| Cash at bank and in hand | 650,293 | 326.099 | |||
| 855,037 | 463.162 | ||||
| Creditors: amounts falling due within one | |||||
| year | 16 | (600,944) | (488,800) | ||
| Net current assets/ liabilites | 254,093 | (25,638) | |||
| Total assets less current liabilities | 21,505,867 | 21,791,109 | |||
| Creditors: amounts falling due after more | |||||
| than one year | 17 | (360,919) | (429,750) | ||
| Net assets excluding pension asset | 21,144,948 | 21,361,359 | |||
| Total net assets | 21,144,948 | 21.361,359 | |||
| Charity funds | |||||
| Restricted funds | 19 | 19,960,177 | 20.524,868 | ||
| Unrestricted funds | 19 | 1,184,771 | 836,491 | ||
| Totalfunds | 21,144,948 | 21,361.359 |
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| Donations & grants | 83,512 | 6,195 | 89,707 |
| Parental voluntary contributions | - | 703328 | 703,328 |
| Gift aid | - | 107,896 | 107,896 |
| 83,512 | 817,419 | 900,931 | |
| Restricted | Unrestricted | Total | |
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| £ | £ | £ | |
| Donations & grants | 15,318 | 62,159 | 77,477 |
| Parental voluntary contributions | - | 831,506 | 831,506 |
| Tax refund | - | 126,119 | 126,119 |
| 15,318 | 1,019,784 | 1,035,102 |
| Restricted | Unrestricted | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2022 | 2022 | 2022 | ||||
| £ | £ | £ | ||||
| Operation | of | the | schools | 7,488,633 | 1,158,647 | 8,647,280 |
| Restr/cted | Unrestricted | Total | ||||
| funds | funds | funds | ||||
| 2021 | 2021 | 2021 | ||||
| £ | £ | £ | ||||
| Operation | of | the | schools | 7,239,467 | 877,706 | 8,117,173 |
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2022 | 2022 | |
| £ | £ | |
| Other fundraising activities | 698353 | 698,353 |
| Unrestricted | Total | |
| funds | funds | |
| 2021 | 2021 | |
| £ | £ | |
| Income from gala dinner | 4,162 | 4,162 |
| Other fundraising activities | 264,990 | 264,990 |
| 269,152 | 269,152 |
| Unrestricted | Total |
|---|---|
| funds | funds |
| 2022 | 2022 |
| £ | £ |
| 3,164 | 3,164 |
| Unrestricted | Total | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2021 | ||
| £ | £ | ||
| Investment | income | 483 | 483 |
| Restricted | Unrestricted | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2022 | 2022 | 2022 | |||
| £ | £ | £ | |||
| Operation | ofthe | school | 6,145,787 | 4,339,793 | 10,485,580 |
| Restricted | Unrestricted | Total | |||
| funds | funds | funds | |||
| 2021 | 2021 | 2021 | |||
| £ | £ | £ | |||
| Operation | ofthe | school | 7,336,598 | 2,640,105 | 9,976,703 |
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Support | Total | |||
| directly | costs | funds | |||
| 2022 | 2022 | 2022 | |||
| £ | £ | £ | |||
| Operation | ofthe | school | 7,326,081 | 3,159,499 | 10,485,580 |
| Activities | |||||
| undertaken | Support | Total | |||
| directly | costs | funds | |||
| 2021 | 2021 | 2021 | |||
| £ | £ | £ | |||
| Operation | ofthe | school | 6,902,502 | 3,074,201 | 9,976,703 |
| Operation | ||
|---|---|---|
| of the | Total | |
| school | funds | |
| 2022 | 2022 | |
| £ | £ | |
| Staff costs | 5,837,861 | 5,837,861 |
| Educational materials | 559,402 | 559,402 |
| Food & meal costs | 534,207 | 534,207 |
| Trips | 339,331 | 339,331 |
| Travel costs | 274 | 274 |
| Teacher training | 43,958 | 43,958 |
| Other direct costs | 11,048 | 11048 |
| 7,326,081 | 7,326,081 | |
| Operation ol | Total | |
| the school | ñinds | |
| 2021 | 2021 | |
| £ | £ | |
| Staff costs | 5.743,241 | 5:743,241 |
| Educational materials | 602,294 | 602.294 |
| Food & meal costs | 476,653 | 476,653 |
| Trips | 32597 | 32,597 |
| Travel costs | 719 | 719 |
| Bus donations | 27,785 | 27,785 |
| Teacher training | 9,416 | 9,416 |
| Other direct costs | 9, 797 | 9,797 |
| 6.902,502 | 6.90Z502 |
| Operation | ||
|---|---|---|
| ofthe | Total | |
| school | funds | |
| 2022 | 2022 | |
| £ | £ | |
| Staff costs | 652,650 | 652,650 |
| Depreciation | 665304 | 665,304 |
| Governance | 35,333 | 35,333 |
| Security and transport | 298728 | 298,728 |
| Repair costs | 55,045 | 55,045 |
| Light & heat | 197,125 | 197,125 |
| Loan interest | 7,096 | 7,096 |
| Cleaning | 125,098 | 125,098 |
| Printing, postage and stationery | 25,759 | 25,759 |
| Bank charges and interest | 8,957 | 8,957 |
| Insurance | 87,885 | 87,885 |
| Sundries | 71,617 | 71,617 |
| Telephone | 6,142 | 6,142 |
| Recharge of expenses | 741,405 | 741,405 |
| Legal and professional fees | 181,355 | 181,355 |
| 3.159499 | 3,159499 |
| Analysis of support costs (continued) | ||
|---|---|---|
| Operation of | Total | |
| the school | funds | |
| 2021 | 2021 | |
| £ | £ | |
| Staff costs | 492, 122 | 492, 122 |
| Depreciation | 629,972 | 629972 |
| Governance | 45,958 | 45,958 |
| Security and transport | 541,870 | 541.870 |
| Repair costs | 93,296 | 93,296 |
| Light & heat | 155, 127 | 155, 127 |
| Loan interest | 6.560 | 6.560 |
| Cleaning | 253,099 | 253.099 |
| Printing, postage and stationery | 26,257 | 26,257 |
| Bank charges and interest | (41,193) | (41,193) |
| Insurance | 83,085 | 83,085 |
| Sundries | 70,997 | 70,997 |
| Telephone | 21,606 | 21,606 |
| Recharge ofexpenses | 572,898 | 572,898 |
| Legal and professional tees | 122,547 | 122,547 |
| 3.074,201 | 3,074,201 |
| 9. | Auditors remuneration | ||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Fees payable to the Group’s auditorfor the audit ofthe Group’s consolidated financial statements. |
25,000 | 23,000 |
| Group | Group | Charity | Charity | |
|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Wages and salaries | 4,923,380 | 4.851,143 | 583,963 | 494.054 |
| Social security costs | 428,077 | 399294 | - | - |
| Contribution to defined contribution pension | ||||
| schemes | 1,139,054 | 984,926 | 13,202 | 12259 |
| 6,490,511 | 6.235,363 | 597,165 | 506.313 |
| Group | Group | |
|---|---|---|
| 2022 | 2021 | |
| No. | No. | |
| Teaching | 96 | 96 |
| Educational Support | 53 | 48 |
| Administration | 5 | 6 |
| Premises | 3 | 3 |
| Management | 5 | 3 |
| LAJSLA | 5 | 5 |
| 167 | 161 |
| Group | Group | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| No. | No. | |||||
| In | the | band | £60,001 | -£70,000 | 1 | 2 |
| In | the | band | £70,001 | -£80,000 | 2 | 1 |
| Freehold | Motor | Fixtures | Computer | Assets under | ||
|---|---|---|---|---|---|---|
| property | vehicles | and fittings | equipment | construction | Total | |
| £ | £ | £ | £ | £ | £ | |
| Cost orvaluation | ||||||
| At 1 September | ||||||
| 2021 | 29,044,454 | 56,175 | 754,069 | 433,660 | 2,177,564 | 32,465,922 |
| Additions | - | - | - | - | 330,257 | 330,257 |
| Transfers between | ||||||
| classes | 2,322,725 | - | - | - | (2,322,725) | - |
| At 31 August 2022 | 31,367,179 | 56,175 | 754,069 | 433,660 | 185,096 | 32,796,179 |
| Depreciation | ||||||
| At 1 September | ||||||
| 2021 | 6,019,781 | 38,446 | 668,219 | 353,195 | - | 7,079,641 |
| Charge forthe year | 622,922 | 3,799 | 12,881 | 25,706 | - | 665,308 |
| At 31 August 2022 | 6,642,703 | 42,245 | 681,100 | 378,901 | - | 7,744,949 |
| Net book value | ||||||
| At 31 August 2022 | 24,724,476 | 13,930 | 72,969 | 54,759 | 185,096 | 25,051,230 |
| A13l August2021 | 23,024,673 | 17729 | 85,650 | 80.465 | Z177,564 | 25,386,281 |
| Freehold | Fixtures and | Computer | ||
|---|---|---|---|---|
| property | fittings | equipment | Total | |
| £ | £ | £ | £ | |
| Cost or valuation | ||||
| At 1 September2021 | 27,590,718 | 498,337 | 5,130 | 28,094,185 |
| At 31 August 2022 | 27,590,718 | 498,337 | 5,130 | 28,094,185 |
| Depreciation | ||||
| At 1 September2021 | 5,870,825 | 412,487 | 5,130 | 6288,442 |
| Charge forthe year | 551,814 | 12,881 | - | 564,695 |
| At 31 August 2022 | 6,422.639 | 425,368 | 5,130 | 6,853,137 |
| Net book value | ||||
| At 31 August 2022 | 21,168,079 | 72,969 | - | 21,241,048 |
| At3lAtsgust 2021 | 21.719893 | 85.850 | - | 21.805743 |
| Investments | |
|---|---|
| Group and Charity | £ |
| Cost orvaluation | |
| At 1 September2021 | 10,448 |
| Revaluations | 278 |
| At 31 August 2022 | 10,726 |
| Group | Group | Charity | Charity | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | ||||||
| £ | £ | £ | £ | ||||||
| Finished | goods | and | goods | for | resale | 9,143 | 8,597 | 9,143 | 8,597 |
| Group | Group | Charity | Charity | |
|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Due within one year | ||||
| Trade debtors | 23,964 | 19,804 | 23,964 | 19,804 |
| Amounts owed by group undertakings | - | 1,594 | - | 1,594 |
| Amounts owed by King David Resources | ||||
| Limited | - | 10,155 | - | 10,155 |
| Other debtors | 64,484 | 119,617 | 30,789 | 63,915 |
| Prepayments and accrued income | 374,414 | 190,220 | 140,848 | 32,998 |
| 462,862 | 341,390 | 195,601 | 128,466 |
| Group | Group | Charity | Charity | |
|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Bankoverdrafts | 387632 | 306,179 | 387,632 | 306.179 |
| Bank loans | 76,504 | 66,773 | 76,504 | 66,773 |
| Trade creditors | 167,940 | I70,630 | 100,750 | 15,725 |
| Amounts owed to group undertakings | 43 | 3,764 | 43 | 3.764 |
| Othertaxation and social security | 8,401 | 7.976 | 8,401 | 7,978 |
| Other creditors | 126,411 | 5,623 | 5880 | 5,615 |
| Accruals and deferred income | 293,197 | 403,439 | 21,734 | 80,766 |
| 1,060,128 | 966,386 | 600,944 | 486800 | |
| Group | Group | Charity | CharIty | |
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Deferred income at 1 September2021 | 91,875 | 127,281 | 48,445 | 88,120 |
| Resources deferred during the year | 189,942 | 91,875 | 147,950 | 46.445 |
| Amounts released from previous periods | (91,875) | (131,550) | (48,445) | (88,120) |
| 189,942 | 87,606 | 147,950 | 46,445 |
| Group | Group | Charity | Charity | |
|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Bank loans | 75,302 | 144,133 | 75,302 | 144,133 |
| Other loans | 285,617 | 285,617 | 285,617 | 285,617 |
| 360,919 | 429,750 | 360,919 | 429,750 | |
| Included within the above are amounts falling due as follows: | ||||
| Group | Group | Charity | Charity | |
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Between one and two years | ||||
| Bank loans | 75,302 | 70,308 | 75,302 | 70,308 |
| Other loans | 285,617 | 285,617 | 285,617 | 285,617 |
| Between two and five years | ||||
| Bank loans | - | 73,825 | - | 73,825 |
| Group | Group | Charity | Charity | |
|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Financial assets | ||||
| Financial assets measured at amortised cost | 1,402,883 | 1,055,791 | 650,293 | 326,099 |
| Group | Group | Charity | Charity | |
| 2022 | 2021 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Financial liabilities | ||||
| Financial liabilities measured at amortised | ||||
| cost | 1.412,646 | 1388,158 | 953,462 | 918550 |
| Statement offunds - current | year | ||||
|---|---|---|---|---|---|
| Balance at I | Balance at | ||||
| September | Gains! | 31 August | |||
| 2021 | Income | Expenditure | (Losses) | 2022 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General Funds - all funds |
2,847,259 | 2,668,024 | (4,330,234) | (278) | 1,184,771 |
| Restricted funds | |||||
| Academyfunds | 2,031,771 | 7,298,128 | (4,959,050) | - | 4,370,849 |
| Donations | - | 83,512 | (83,512) | - | - |
| SEN income | - | 130,917 | (130,917) | - | - |
| Nursery grant | - | 59,588 | (59,588) | - | - |
| Junior school prize fund | 669 | - | (669) | - | - |
| High school prize fund | 205 | - | (205) | - | - |
| Yavneh prize fund | 2,155 | - | (2,155) | - | - |
| Grant of buildings and fixtures | |||||
| from BSF | 20,524,868 | - | (564,691) | - | 19,960,177 |
| Pension reserve | (2,244,000) | - | (345,000) | 2,589,000 | - |
| 20,315,668 | 7,572,145 | (6,145,787) | 2,589,000 | 24,331,026 | |
| Total offunds | 23,162,927 | 10,240,169 | (10,476,021) | 2,588,722 | 25,515,797 |
| Statement offunds - Group - |
prior year | ||||
|---|---|---|---|---|---|
| Balance at | Balance at | ||||
| 1 September 2020 |
Income | Expenditure | Gains) (Losses) |
31 August 2021 |
|
| £ | £ | £ | £ | £ | |
| Unrestrictedfunds | |||||
| General Funds - all funds |
3,321,185 | 2,167,125 | (2,640,105) | (946) | 2,847259 |
| Restricted funds | |||||
| Academy funds | 1,319,621 | 7.092,190 | (6,360,040) | - | 2.031.771 |
| Donations | - | 15.318 | (15.318) | - | - |
| SEN income | - | 76,461 | (76,461) | - | - |
| Nursery grant | - | 70,816 | (70,816) | - | - |
| Junior school prize fund | 669 | - | - | - | 669 |
| High school prize fund | 205 | - | - | - | 205 |
| Yavneh prize fund | 2,155 | - | - | - | 2,155 |
| Grant of buildings and fixtures | |||||
| from BSF | 21,091,831 | - | (566,963) | - | 20,524,868 |
| Pension reserve | (1,768,000) | - | (227,000) | (249.000) | (2,244,000) |
| 20,646,481 | 7.254,785 | (7,336,598) | (249,000) | 20,315,668 | |
| Total offunds | 23,967,666 | 9.421,910 | (9,976,703) | (249,946) | 23,162,927 |
| Analysis of net assets between funds | - current year | |||
|---|---|---|---|---|
| Restricted | Unrestricted | Total | ||
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 23,770359 | 1,280,871 | 25,051,230 | |
| Fixed asset investments | - | 10,726 | 10,726 | |
| Current assets | 1,019,851 | 855,037 | 1,874,888 | |
| Creditors due within one year | (459,184) | (600,944) | (1,060,128) | |
| Creditors due in more than one year | - | (360,919) | (360,919) | |
| Total | 24,331,026 | 1,184,771 | 25,515,797 | |
| Analysis of net assets between funds | - prior year | |||
| Restricted | Unrestricted | Total | ||
| funds | funds | ñinds | ||
| 2021 | 2021 | 2021 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 20,315,668 | 5,070,621 | 25,386,289 | |
| Fixed asset investments | - | 11,004 | 11,004 | |
| Currentassets | - | 1,405,778 | 1,405,778 | |
| Creditors due within one year | - | (966,386) | (966,386) | |
| Creditors due in more than one year | - | (429,750) | (429,750) | |
| Provisions for liabilities and charges | - | (2,244,000) | (2,244,000) | |
| Total | 20,315,668 | 2,847,267 | 23,162,935 |
| Group | Group | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Net expenditure for the year (as per Statement of Financial Activities) | (236,130) | (555,739) |
| Adjustments for: | ||
| Depreciation charges | 665,308 | 629,971 |
| Losses on investments Increase in stocks Decreas&(increase) in debtors |
(278) (546) (121,476) |
(946) (4.531) 246,498 |
| lncrease/(decrease) in creditors | 12,214 | (292,093) |
| LGPS pension movement | 345,000 | 249.000 |
| Net cash provided by operating activities | 664,092 | 272,160 |
| Group | Group | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Cash in hand | 1,402,883 | 1055,791 |
| Overdraft facility repayable on demand | (387,632) | (306,178) |
| Total cash and cash equivalents | 1,015,251 | 749,613 |
| At 1 | |||
|---|---|---|---|
| September | At 31 | ||
| 2021 | Cash flows | August 2022 | |
| Cash at bank and in hand | £ 1,055,791 |
£ 347,092 |
£ 1,402,883 |
| Bank overdrafts repayable on demand | (306,179) | (81,453) | (387,632) |
| Loan due within 1 year Loans due after 1 year |
(68,773) (429,750) |
(7,731) 68,831 |
(76,504) (360,919) |
| 251,089 | 326,739 | 577,828 |
| At31 | 4(3lAugust | |
|---|---|---|
| August2022 | 2021 | |
| % | % | |
| Discount rate | 4.25 | 1.65 |
| Rate of increase in salaries | 3.8 | 3.65 |
| Rate of increase for pensions in payment1inflation | 3.05 | 29 |
| At31 | At3lAugust | |
|---|---|---|
| August 2022 | 2021 | |
| Years | Years | |
| Mortality rates (in years) | ||
| - for a male aged 65 now | 20.3 | 20.5 |
| - at 65 for a male aged 45 now | 21.6 | 21.9 |
| - for a female aged 65 now | 23.2 | 23.3 |
| - at 65 for a female aged 45 now | 25.1 | 25.3 |
| At 31 | At 31 August | |
|---|---|---|
| August2022 | 2021 | |
| £ | £ | |
| Equities | 3,038,760 | 2981,290 |
| Guts | 618,560 | 421,450 |
| Property | 396,360 | 293.930 |
| Cash and other liquid assets | 352,320 | 502330 |
| Total fair value ofassets | 4,404,000 | 4,199,000 |
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Current service cost | 236,000 | 177,000 |
| Interest cost | 110,000 | 91,000 |
| Net interest | 39,000 | 14000 |
| Total amount recognised in the Consolidated Statement of Financial | ||
| Activities | 386,000 | 282.000 |
| Movements in the present value of the defined benefit obligation were as follows: | ||
| 2022 | ||
| £ | ||
| Opening defined benefit obligation | 6,443,000 | |
| Actuarial (losses)/gains | (2,802,000) | |
| Benefits paid | (58,000) | |
| Current service costs | 462,000 | |
| Interest cost | 110,000 | |
| Employee contributions | 49,000 | |
| Closing defined benefit obligation | 4,404,000 |
| Group | Group | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Not later than 1 year | 11,187 | 25,699 |
| Later than 1 year and not later than 5 years | 19,939 | 343 |
| 31,126 | 26,042 |