2021-03-31-accounts

Trustees' and directors' report (including strategic report)	Trustees' and directors' report (including strategic report)
Statement oftrustees' responsibilities	in respect ofthe strategic report, the trustees'				report and the consolidated
financial statements						13
Independent auditor's report to the members ofSheffield		City Trust				14
Consolidated statement offinancial	activities (incorporotiug		income & expenditure		account)	19
Company stateinent offinancial activities (incorporutiag		income &expenditure		account)		20
Consolidated balance sheet						21
Company balance sheet						22
Consolidated cash flow smtement						23
Notes to the financial statements						24

Trustees' and directors' report (including	Trustees' and directors' report (including	strategic report) (contfntzed)	strategic report) (contfntzed)	strategic report) (contfntzed)
Streamlined Energy and Carbon Reporting
GHG emissions and energy ase dataforperiod l-April-2020			to	3/-March-202l
				Current Reporting Year	Prior Reporting year
				2020-2021	2019-2020
				UK GHG Emission and	UK GHG Einission and
				Ene Data	Energy Data
Energy consumption used to calculate emissions (kWh), mandatory energy sources are included.			all	31,222,760	47,407,108
Scope 1:Emissions from the combustion ofNatural	Gas tCOze			1,864.5	2,877.2
Scope 1:Einissions from combustion of Fuel for heating (Tinsley) tCOze	transport		and	77.2	81.6
Scope 3: Emissions from business travel in employee		owned
vehicles, where the company repaid mileage	claims	tCOze			3.8
(average vehicle / fuel source unknown)
Scope 2:Emissions from purchased Electricity tCOze				2,1732	4,674.1
Scope 2: Emissions from purchased Heat / Steam Heating tCOze	from	District		1,113.1	1,286.3
Total gross COze based on above (tCOze)				5,234.4	8,923.0
Intensity Ratio: kg Coze gross based on mandatory	fields	above
per metre square ofGross Internal Area: (kg COze m z)				34.9kg Coze m-z	60.3kg COze m.z

eparate opinion o	n these matters.
Going concern	Disclosure quahty	Our response
Recurring risk	The financial statements explain how the	We considered whether these risks could plausibly
—Group &	Board has formed ajudgeinent that it is	affect the liquidity in the going concern period	by
Trust	appropriate to adopt the going concern	assessing the trustees' sensitivities over the level	of
	basis ofpreparation for the Group and	available financial resources indicated by the Group's
Refer topage 24 (accounting policy) and	Trust. That judgement is based on an evaluation ofthe inherent risks to the Group's and	financial forecasts taking account of severe, but plausible, adverse effects that could arise &om these risks individually and collectively.
page 55	Trust's business model and how those	Our procedures included:
(financial disclosures)	risks might affect the Group's and Trust's financial resources or ability to continue	Funding assessraentt
	operations over aperiod ofat least ayear fiom the date ofapproval ofthe financial	~ Challenging the Group's assessment ofthe ongoing support that is projected to be provided
	statements.	by Sheffield City Council over the foreseeable
		future. This includes legally binding funding
		along with indications that further funding will
		be made available.

Going	concern	Disclosure quality	Our	response
		The risks most likely to adversely affect	~	Inquiring ofSheflield City Council with
		the Group's and Trust's available financial		regard to the content ofthe letter ofsupport,
		resources over this period were:		and their intention and ability to fund the cash
		The ability ofthe Group and Trust to eet cash flow forecasts due to		flow requirements ofthe Group insofar as required.
		uncertainties such as revenue growth and control ofthe operating cost base including the potential impact ofCovid-19 on the	Historical compansonst ~ Assessing the reasonableness ofthe budgets
		ability to operate venues; and The intention ofSheffield City Council, the Group snd Trust's inain Funder, to	and forecasts by considering the historical accuracy ofprevious forecasts. Sensitivity analysis:
		provide ongoing additional cash flow funding as required to support the Group and trading subsidiaries as required.	~	Considering sensitivities over the level of available financial resources indicated by the Group's financial forecasts taking account of
		The risk for our audit was whether ornot		reasonably possible (but not unrealistic)
		those risks were such that they amounted		adverse efFects that could arise from these
		toa material uncertainty that may have cast significant doubt about the ability to		risks individually snd collectively including the ongoing potential impact ofCovid-19.
		continue as agoing concern. Had they been such, then that fact would have been	Benchtnarkin gassn mpttanst
		required to have been disclosed	~	Comparing and challenging budgets and
				forecasts against known parameters such as
				funding streams and committed cost base.
			Assessing transparsncyt
			~	Assessing the completeness and accuracy of
				the matters covered in the going concern
				disclosure by comparing the disclosure to our
				knowledge accumulated thmughout the audit.
			Our	results: We found the going concern disclosure
			without any material uncertainty to be acceptable
			(2020 result: acceptable).

For the year ended 3	1March	2021
				Unrestricted	Restricted	Total	Total
				funds	Fuads-	funds	funds
					charitable
					activities
			Note	2021	2021	2021	2020
				4000	8000	8000	f000
Incoming resources
Income frotn charitable	activities			5,224		5&224	30,8$7
Investment inoome				5		5	7
Income from donations	and legacies - Grants			7,274	1,575	8,849	2,462
receivable
Income from donations	and legacies - Sheifield			11,742		11,742	6,82$
City Council
Total iacoming resources				24,245	1,575	25,820	40,184
Resources expeaded
Expenditure on raising funds				(8,925)	(91$)	(9,843)	(22,519)
Expenditure on charitable activities				(17,773)	(684)	(1$,457)	(19,191)
Total resources expended				(26,698)	(1,602)	(28800)	(41,710)
Net outgoiag resources Taxation	before	tax		(2&453) 68	(27)	(2,480) 68	(1,526) (352)
Net outgoing resources	before	otber
recognised gains and losses				(2385)	(27)	(2,412)	(1,878)
Actuarial (loss)/gain recognised		in the pension	22	(2,530)		(2&530)	9$4
scheme
Related tax				19		19	(19)
Net loss in the year				(4,896)	(27)	(4,923)	(913)
Fund balances brought forward				(13,614)	30,715	17,101	18,014
Fuad balances carried	forward		4/5	(18&510)	30,688	12,178	17,101

					Unrestricted	Restricted	Total	Total
					funds	funds—	funds	funds
						charitable
						activities
				Note	2021	2021	2021	2020
					f000	f000	f000	f000
Iacomiag resources
Income fmm charitable	activities				3,092		3,092	10,485
Investment income					5		5	7
Income from donations	and legacies - Grants receivable				4,380	642	5,022
Income fium donations	and legacies - Shetfield City
Council					11,742		11&742	6,757
Total incomiag resources					19419	642	19,861	17,249
Resources expended
Expenditure on charitable		activities			(18833)	(684)	(19,017)	(21,350)
Impairment ofinvestment								(8,907)
Total resources expended					(lth333)	(684)	(19&017)	(30,257)
Net incoming/(outgoing)		resources before tax			8$6	(42)	844	(13,008)
Tsx
Net incoming/(outgoing)		resources before other
recognised gains and losses					886	(42)	844	(13,00B)
Actuarial (loss)/gain recognised			in the pension scheme	22	(2,1$6)		(2,186)	955
Net loss in tbe year					(1,300)	(42)	(1,342)	(12,053)
Fund balances brought	forward				(17460)	9,972	(7,28$)	4,765
Fund balances carried	forward			4/5	(1$,560)	9,930	(8,630)	(7,28$)

						Note		2021		2020
							f000	f000	f000	f000
Fixed assets
Tangible fixed assets							125,440		126,140
Intangible assets							35
								125,475		126,140
Current assets
Stock						14	9		1
Debtors (including debtors due aiier f32,490,000(2019- f32,49a000))					one year of	15	35,495		35,026
Cash at bank and in	hand						2,629		1,516
							38,133		36,543
Creditors: amounts		falling due within one year					(28,629)		(29,495)
Net current assets								9,504		7,048
Total assets less current Iiabiittes								134,979		133,188
Creditors: amounts		falling		due sfier more than
one year						17		(127,674)		(127,387)
Net assets —excluding			pension liability					7305		5,801
Pensioa liability						22		(15,935)		(13,089)
Net liabilities —including				pension	liability			(8,630)		(7,288)
Fund balances
Unrestricted reserves
Designated reserve								512		500
General reserve								(3,137)		(4,671)
Pension reserve								(15,935)		(13,089)
Net unrestricted funds								(18460)		(17,260)
Restricted funds								9,930		9,972
Total funds								(8,630)		(7,288)

				Sheffield	City Trust
		Annual report and consolidated		financial	statements
			Year ended 31March 2021
Consolidated cash flow statement
Foryear ended 31March 2821
		Note	2021 f000		2020 f000
Cash flows from operating activities
Net outgoing resources before other recognised	gains or losses		(2,412)		(1,878)
Adjustments for:
Depreciation and amortisation		10/11/12	3,199		3,257
Interest receivable and similar income			(5)		(7)
Interest payable and similar charges			4/48		5,153
Pension charges in excess ofcash contributions			112		299
Tax			(68)		352
Loss/(pmfit) on disposal			33		(I)
			5,107		7,175
Increase in trade and other debtors			(597)		(436)
Decreme in stocks			27		135
Incrcme/(decrease) in trade and other creditors			97		(147)
			4,634		6,727
Tsx paid					(35)
Net cash from operatiag activities			4,634		6,692
Cash flows from investiag activities
Acquisition oftangible fixed assets Acquisition ofintangible assets		12 11	(1,662) (43)		(2,525)
Interest received
Net cash from investiag activities			(1,700)		(2,518)
Cash flows from financing activities
Pmceeds from new loan			15,894		15,076
Interest paid Repayment ofborrowings Payment offinance lease liabilities			(3,940) (14&709) (425)		(7,463) (20,552) (590)
Net cash from finaacing activities			(3,180)		(13,529)
Net decrease in cash and cash equivalents			(246)		(9,355)
Cash and cash equivalents brought forward			4493		13,748
Cash and cash equivalents carried forward			4,147		4,393

heffield Intern	ational	Venues Iimited
			2021	2020
			KOOO	5000
Turnover			1,963	16,897
Other operating	income		1&515	83
Raw materials	and consumabies		(95)	(2,374)
StafFcosts			(2,297)	(5,908)
Depreciation			(871)	(744)
Other operating	charges		(3,480)	(8,181)
Operating loss			(3,265)	(227)
Net interest payable			(26)	(61)
Loss on ordinary activities before taxation			(3,291)	(288)
Tax on loss on	ordinary	activities		(354)
Loss retained	ia the subsidiary		(3i291)	(642)

The directors reviewed the funding	The directors reviewed the funding	The directors reviewed the funding	arrangements	arrangements	for Sheffield International	Venues Limited and its budgets for	Venues Limited and its budgets for	Venues Limited and its budgets for
the coming years and	believe	that	it will gradually		start to make aposifive	contribution	to the financial	affairs
ofthe charity, despite	the current		impact of Covid-19 in the short term.
							2021	2020
The assets and liabilities ofthe		subsidiary		were:			6000	5000
Tangible fixed assets							3,020	2,934
Current assets							11,025	11,715
Creditors: amounts falling dae within			one	year		(12,610)		(9,964)
Provisions for liabilities							(395)	(354)
Net assets							1,040	4,331
Statement ofother comprehensive		income
							2021	2020
							OOOO	5000
Loss for the financial period							(3,291)	(642)
Capital contribution								8,907
Total comprehensive	(expense)/income			for the financial year			(3,291)	8,265

7Hills Leisure Trust
					Unrestricted
						funds-		Total			Total
						General		funds			funds
						2021		2021			2020
						5000		8000			5000
Incomingresources
Income fiom charitable activities						35		35			569
Income fiom donations snd legacies - grants receivable						12		12			2,391
Total incoming resources						47					2,960
Resources expended
Expenditure an charitable activities						(122)		(122)			(685)
Total resources expended						(122)		(122)			(685)
Nct (outgoing)/incoming resources before
other recognised gains aud losses						(75)		(75)			2,275
Nst movements In the year						(75)		(75)			2,275
Fund balances at I April 2020								489			(1,786)
Fuad balances carried forward						414		414			489
The directors reviewed the funding	arrangements		for 7	Hills Leisure		Trust and	its budgets		and	believed that		it
would better deliver against its charitable objects			by transferring		its operations		into its	parent charity, Sheffield
City Trust and as such, on I April	2019,the operations,			together with the assets and				liabiTities, of all venues
with the exception ofWestfield Sports Centre		and Sinfin Golf			Course	were transferred		to Sheffield City Trust
at book value. The assets and liabilities ofWestfield Sports Centre and Sinfin							golf course		were transferred			to
Sheffield City Trust on INovember	2020 and IMay 2020respectively.					As part	ofa streamlined			group	structure
itwill drive further efficiencies snd	ultimately	impmve		the resources		available	to deliver the charitable				objects
ofboth charities.

			2021	2020
			5000	5000
Income
Lottery grant released			433	433
Yorkshire Forward	grant	released	14	14
Lifecycle fund			93	53
Grant income			71
Rental income				(460)
Other income			91	92
Total iacome			702	176
Expenditure
Management contract				460
Building Maintenance			(40)
Depreciation			(658)	(631)
Operating profit
Profit on ordiaary	activities before tax		4
Tax on pmfit on onlinary		activities	35
Profit retained ia	the subsidiary		39

years and believe harity.	that it	will gradually	start to make a positive contri	bution to the financial aff	airs ofthe
				2021	2020
The assets and liabilities ofthe subsidiary			were:	5000	5000
Tangible fixed assets				17g99	18,057
Current assets				2,520	3,075
Creditors: amounts	falling	due within one	year		(641)
Deferred income:	amounts	falling due within one year		(571)	(611)
Deferred income:	amounts	falling due atter more than one year		(19,453)	(20,024)
Net liabilities				(105)	(144)

				2021	2020
				8000	6000
Tlnllovcr				123	3,093
Other operating	income			1,575	590
Raw materials and consnmables				(46)	(775)
Staffcosts				(632)	(1,741)
Depreciation				(20)	(56)
Other operating	charges			(8&4)	(1,433)
Operating loss				116	(322)
Other finance income				3	2
Profit/(loss) on	ordinary	activities before taxation		119	(320)
Tax on pmfit/(toss) on ordinary			activities	32	2
Profit/(loss) retaiaed in		the subsidiary		151	(318)

The operation ofTapton Golf	The operation ofTapton Golf	course was transferred	to Sheffield City Trust on 1 May 2020 and the	to Sheffield City Trust on 1 May 2020 and the	to Sheffield City Trust on 1 May 2020 and the	assets
and liabilities were transferred		at their net book value		on this date. The	operation of Scarborough	Spa,
Whitby Pavilion and Peasholm		Park Cafd was transferred		to Scarborough	Borough Council on 1February
2021 following termination	ofthe contract.
					2021	2020
The assets and liabilities ofthe	subsidiary were:				%0&0	5000
Tangible fixed assets						285
Current assets					1,815	1,345
Creditors: amounts falling due	within one year				(3,556)	(3,246)
Provision for liabilities						(5l)
Pension asset						100
Net liabilities					(1,741)	(1,567)
Statement ofother comprehensive		income
					2021	2020
					0000	8000
Loss forthe financial period					151	(318)
Actuarial (loss)/gain recognised	in the pension scheme				(344)	29
Tax on actuarial (loss)/gain					19	(19)
Total comprehensive expense	for the financial period				(174)	(308)

								Group		Company
Vnrsstritsed	funds						2021		2020	2021	2020
							6000		5000	6000	5000
Erpenditure	on raising	fends
Gmund rent							26		123
Other finance income —including pension							(3)		(2)
Overheads	includiog	staff costs,			depreciation	and
finance lease intmest							8,902		21,855
							8,925		21,976
Expenditure	on charitable		activi ties
Ground rent							80		105	80	105
Interest on loans							84		58	84	58
Interest payable on bonds							3,803		4,676	3dt03	4,676
Other finance costs —including				pension			319		337	319	337
Overheads	including	staff costs,			depreciation	and
finance lease interest							13,487		13,421	14,047	13,226
Impairment	ofinvestment										8,907
Donations to subsidiary		in	respect ofpension deficit								2,354
							17,773		I8,597	IOE33	29,663
Total unrestricted resources				expended			26,698		40,573	18433	29,663
Restricted funds
Expendiyure	on raising	funds
Ovmheads							194		32
Depreciation							724		511
							918		543
Expenditure	on charitable		activi ties
Overheads							219		40	219	40
Depreciation							465		554	465	554
									594		594
Total restricted resources expended							1,602		1,137		594

	At					At
	beginning of			Movement	in	end of
	year	Income	Utilised	pension deficit		year
	6000	6000	f000	6000		8000
Group
Designated funds
Direct support ofother charitable	492	91	(78)			505
activities in Sheffield
Health fund
General funds
Reuuned deficit	(1,125)	24,154	(26,116)			(3,0871
Pension reiertu	(12,989)		(416)	(2,530)		(15,935)
	(13,614)	24,245	(26,611)	(2,530)		(tl4510)
Company
Designated funds
Direct support ofother charitable activities in Sheffield	492	91	(78)			505
Health fund General fundr			(1)
Retained deficit	(4,671)	19,128	(17,594)			(3,137)
Pemion rererre	(13,089)	-	(660)	(2,186)		(15rr35)
	(17,260)	19,219	(18,333)	(2,186)		(Ia560)

			Group		Company
		2021		2020	2021	2020
		5000		5000	5000	f000
Auditor's	remuneration -Audit ofthese finsncisl	100		100	45	40
statements
Depreciation ofowned assets		3,054		3,017	1400	1,412
Depreciation ofassets held under finance leases		340			340	413
Hire ofassets under operating leases - other assets		181		225	167	142
Amoriisation ofnegative goodwill		(2051		(205)
Impalnueai	oftrade receivables	22		31	12
Inventory	recognised as an expense	72		2,678

he average number ofpersons e ategory, was as follows:	mployed by the group (includi	ng directors) duri	ng the year analysed by	ng the year analysed by
		Croup	Company
	2021	2020	2021	2020
	Number	Number	Number	Number
Leisure	323	485	315	473
Maintenance	167	270	151	231
Administration	133	176	127	166
Catering	167	329	143	260
	790	1,260	736	1,130

		Group			Company
	2021		2020	2021		2020
	8000		6000	8000		f000
Wages aad salaries	10,112		15,502	9,514		12,688
Social security costs	662		847	624		778
Other pension costs	1,402		1,212	1,578		1,365
Redundancy costs	863			708
	13,039		17,561	12rt24		14,831

he number ofemployees in the gmup whose ollows:	emoluments amounted to over f60,000 in t	he year was as
	2021	2020
660,001 - 870,000	4	2
870,001 - 680,000	1	1
6100,001 - 6110,000
gt 10,001 - 8120,000	1	1

Notes	to the financial statements	(continued)
	Tnx
	Analysis ofcharge inyear		Group
			2021		2020
			8000		5000
	Current tax
	Adjustments in respect ofprior periods		(76)
	Total current tax charge forthe year		(76)
	Deferred tax
	Origination and reversal oftiming differences				318
	Impact ofchange in tsx mte				34
	Total tax charge for the year		(68)		352
	Factors affecting the tax chargefor the current year
	The current tax charge for the period	is higher (2020:higher)	than the standard rate ofcorporation	tax in the
	United Kingdom, which, for the period ended 31March 2021,was 19%(2020: 19%).The differences				are
	explained below:
			2021		2020
			f000		f000
	Net outgoing resources before tsx		(2&480)	(1,526)
	Current tax at 19%(2020:19%)		(471)		(290)
	Non deductible and non taxable items		(121)		302
	Adjustments relating to prior periods		(76)
	Utilised losses				(40)
	Pension scheme adjustments		(86)		(32)
	Short term timing differences				13
	Deferred tax not recognised		536		278
	Re-measuremeut ofdeferred tax —change in VKtax rate				34
	Depreciation in excessofcapital allowances		150
	Tsx losses				87
	Total tax charge forthe year		(68)		352

Note	s to the financial statements (continued)
10	Negative goodwill
		f000
	Cost
	At beginning snd end ofyear	(8,741)
	Impairment lassaslamartisatian
	At beginning ofyear	1,758
	Charge for year	205
	At end ofyear	1,963
	Canylng amount
	At end ofyear	(6,778)
	At beginning ofyear	(6,983)

Intangible assets Group
	Total
	8000
Cost
At beginning ofyear	4
Additions	43
At eodofyear	47
Amartisatian
At beginning ofyear	2
Charge foryear	10
At end ofyear	12
Closing nat book amount
At end ofyear	35
At beginning ofyear

Company
					Total
					8000
Cost
At beginning ofyear
Group transfers/Additions					2
Additions					43
At ead ofyear					45
A&aartitaooa
At beginning ofyear
Charge for year					10
At eud ofyear					10
Closing nat book amount
At ead ofyear					35
At beginning ofyear
Tangible lixed assets
Group		Leasehold	Fixtares,	Assets
	Freehold	land and	fittiags and	under
	land	buildings	equipment	construction	Total
	t(000	8000	8000	8000	8000
Cost
At beginning ofyear	468	173,740	23,495	613	198,316
AddiYions			7	1,709	1,716
Dispossls			(233)	(11)	(244)
Transfers			2,006	(2,049)	(43)
At eud ofyear	468	173,740	25275	262	199,745
Dtp&eclat/aa
At beginning ofyear		28,864	15,051		43,915
Charge foryear		1,292	2,102		3,394
Disposals			(200)		(200)
At end ofyear		30,156	16,953		47,109
/Vat book &ulna
At end ofyear	468	143&584	8@22	262	152,636
At beginning ofyear	468	144,876		613	154,401

Company		Leasehold	Fixtures,
	Freehold	land and	fittings aad	Assets Under
	land	buildings	equipment	Constructioa	Total
	8000	8000	f000	%000	8000
Cost
At beginning ofyear	468	141,439	8,554	161	150,622
Additions			7	625	632
Disposals			(40)		(40)
Transfers			555	(598)	(43)
Group Transfers			351		351
At eod ofyear	468	141,439	9,427	188	151,522
Depreciation
At beginning ofyear		19,936	4,546		24,482
Charge for year		601	1,039		1,640
Disposals			(40)		(40)
At end ofyear		20,537	5,545		26,082
it(et book value
At end ofyear	468	120,902	3,882	188	125,440
At beginning ofyear	468	121,503	4,008	161	126,140

he following are included in the total ne nance leases.	t book value oftangible axed assets in respect	ofassets held under
	Group	Compaay
	Fixtures,	Fixtures,
	fittiags and	fittings and
	equipment f000	equipmeat 6000
2021
Net book value	1,013	1,013
Depreciation	340	340
2020
Net book value	1,353	1,353
Depreciation		413

				Principal	Country	of	Percentage
				activity	registration		ofordinary
							shares held
Subsidiary	undertakings
Shcffield	International		Veaaes Limited	Management ofsporting and	England	aad	100
				entertainment facilities and	Wales
				provision ofcatering and
				conferencing services
7Hills Leisure		Trust		Management ofsporting and	England	and
				recreational facilities	Wales
7Hills Commercial			Limited	Provision ofcatering services	England	and	100s"
					Wales
Phoenix Sports		Limited		Operation and strategic	England	snd
				direction ofEnglish Institute of	Wales
				Sport- Sheffield (EISS)
SIVEnterprises		Limited		Management ofsporting aad	England	snd	100***
				recreational facilities, acatering	Wales
				facility and the provision of
				consultancy services

tocks
				Group		Company
			2021		2020	2021	2020
			5000		6000	5000	f000
Goods for resale			123		150
ebtors
				Group			Company
			2021		2020	2021	2020
			5000		6000	8000	6000
Trade debtors			1,4$0		676	$91	224
Other debtors			26		103	3	83
Prepsymeots		and accrued income	34,067		34,197	33,109	33,627
Amounts	owed by gmup codon«kings					1&492	1,092
Corporation		tax	78
			35&651		34,976	35,495	35,026

				Group			Company
			2021		2020	2021	2020
			8000		f000	f000	f000
Bank loans	(seenote 17)		82		68	82	68
Other loans			1,171		1,525	1,171	1,525
Obligations	under finance	leases (seenote 17)	308		420	308	420
Bonds			15,570		14,641	15470	14,641
Trade creditors			17134		2,453	680	866
Other creditors including		taxation snd social security	8,999		7,704	431	1,283
Accrual ssnd deferred income			2467		2,246	1,161	1,098
Amounts owed togmup undutakiugs						9,226	9,594
			29,631		29,057	28,629	29,495

he maturity ofthe bank and other loans i	s due as follows;
		Group			Compaay
	2021		2020	2021	2020
	5000		5000	5000	f000
Within one year	1453		1,593	1,253	1,593
In the second tofiSh years	2,561		1,035	2,561	1,035
	3,814		2,628	3,814	2,628

e bonds are stated net ofunamorfised issue cos f795,000.	ts of5873,000an	d gross	ofthe unam	ortised issue prem	imn
		Group		Company
The maturities ofthe bonds are as follows:	2021		2020	2021	2020
	4000		OOOO	f000	6000
Within one year	15470		14,641	15,570	14,641
In the second tofifih years	34,155		49,721	34,155	49,721
	49,725		64,362	49,725	64,362

The mstcrities of obligations	under	the leases are as		Group			Company
follows:
			2021		2020	2021	2020
			5000		5000	f000	6000
Within one year			308		420	308	420
In the second to fifih years			270		584	270	584
			578		1,004	578	1,004

Deferred tax
		Accelerated	tax Other timing			2021	2020
		depreciation		differences	Total		Total
			f000	f000		f000	6000
At 1 April 2019			312	(1,725)	(1,413)		(960)
Movement in year			74	1,476	1,550		(453)
At 31March 2020& 1 April 2020			386	(249)		137	(1,413)
Movement in year			10	(598)		(588)	1,550
At 31March 2021			396	(847)		(451)	137
Recognised			396			396	405
Vnrecognised				(847)		(847)	(268)
			396			(451)	137
he deferred tsx asset has not been recognised	on	the grounds	that there	is insuBictent	evidence	that the	asset will be
ecovered.
Analysis ofgroup net assets between funds
		Unrestricted
		(designated and
			general) f000	Restricted f000			Total 5000
Tangible fixed assets			121,948	30,688			152,636
intangible Assets			35				35
Net current assets			10,290				10,290
Liabilities falling due atter more than one year		(127,674)					(127&674)
Provisions for liabilities			(396)				(396)
Pension liability (note 22)			(15,935)				(15&935)
Negative goodwill			(6,778)				(6&778)
Net assets as at31March 2021			(18,510)	30,688			12,178
Net assets as at31Match 2020			(13,614)	30,715			17,101

Annual	commitments	commitments	under non-cancellable	operating	leases are as	follows:
					Group			Company
				2021		2020	2021		2020
				f000		f000	0000		f000
Operating		leases which	expire:
Within		one year			142	195	142		113
In	the	second to fifih years inclusive			361	455	361		173
More		than five years			559	625	559
				1,062		1,275	1&062		286

periods shown.
			2021			2020
		South	North			South	North
	Derbyabire	Yorkshire	Yorkshire	Total	Derbyshire	Yorkshire	Yorkshire	Total
	8000	8000	8000	8000	5000	5000	5000	5000
Present value offunded
defined benefit		(64&464)		(64,464)		(53,737)	(2,325)	(56,062)
obligations
Fair value ofplan asses		4(k570		48070		40,688	2,425	43,113
		(15,894)		(15,894)		(13,049)	100	(12,949)
Present value ofunfunded
defined benefit		(41)		(41)		(40)		(40)
obligations
Net olsbfiity)/asset		(35835)		(15,935)		(13,089)	100	(12,989)

Movements inpresent	Movements inpresent	value	ofdeftned	ofdeftned	beneftt obligation	beneftt obligation	beneftt obligation
						2021						2020
						South	North					South	North
			Derbyshire f000		Yorkshire Yorkshire 8000 8000				Total Derbysbire Yorkshire 8000 f000 f000				Yorkshire f000	Total f000
At beginning ofyear					53,777		2425	56,102		1,404		56,630	2,372	60,406
Current service cost						828	41		869			996	68	1,064
Interest cost						19284	44		1428			1,406	58	1,464
Curtailment						230	8		238
Actuarial losses/(gains)						9,072	925		9,997			(4,498)	(78)	(4,576)
Past service cost												97		97
Contributions by members						169	7		176			193	12	205
Benefits paid						(855)	(46)		(901)			(1,047)	(107)	(1,154)
Settlanents						(3)304)		(3404)		(1,404)				(1,404)
At end ofyear					64,505							53,777	2,325	56,102
Move/sents infair	value ofplan			asse/s
						2021							2020
						South North						South	North
			Derbyshire		Yorksldre Yorkshire				Total Derbyshire		Yorkshire		Yorksbue	Total
				f000		f000	f000		8000	f000		f000	f000	f000
At beginning ofyear					40,688		2,425	43,113		1,194		43,435	2,422	47,051
Expected return on	plan
assets						977	47		1&024			1,082	60	1,142
Actuarial gains/fiosses)						6,886	581		7,467			(3,543)	(49)	(3,592)
Administration expenses						(12)			(12)			(14)		(14)
Contributions by employer						717	61		778			582	87	669
Contributions by members						169	7		176			193	12	205
Benefits paid						(855)	(46)		(901)			(1,047)	(107)	(1,154)
Settlements							(3,075)	(3,075)		(1,194)				(1,194)
At end ofyear					48,570			48470			-	40,688	2,425	43,113
Expense recognised	in /Ae s/stamen/			oflinancia!		activities
						2021							2020
						South	North					South	North
				Derhyshire f000		Yorkshire fess	Yorkshire f000		Total fees	Derbyshire f000		Yorkshire f000	Yorkshire f000	Total f000
Cmrent service cost						828		41				996	68	1,064
Past service cost												97		97
Effectofcmtafimeots						230		8	238
Liabilities extinguished		on					(3,304)		(3804)	(1,404)				(1,404)
settlement
Assets distributed on settlement							3,075		3,075	1,194				1,194
Admtuisuatlon expenses						12			12			14		14
Interest on defcnel benefit pension
plea obligation						1/84			1@28			1,405	58	1,463
Expected return on defined benefit
passion plan assets								(47)	(1,024)			(1,082)	(60)	(1,142)
Total						1377	(183)		1,194	(210)		1,430	66	1286

he e	xpense	is reco(pt(sed	in the followi	ng line item	s in the stat	ement	offinancial	activities:
				2021				2020
				Soutb	North			South	North
			Derbysbire	Yorkshire	Yorkshire	Total	Derbysbiro	Yorkshire	Yorksbirr	Total
			8000	8880	8000	8880	6000	6000	6000	6000
Smty	costs			1,870	(180)	898	(210)	1,107	68	965
Other	finance	(bmomeycosis		3(yl	(3)	304		323	(2)	321
Total				1477	(183)	1,194	(210)	1,430	66	i/86

he fair valu	e	ofthe plan ass	ets and the	return on those assets	return on those assets	were as f	ollows:
				2021					2020
				Soutb	North			South	North
			Derbysbirs	Yorksbire	Yorkshire	Total	Derbysbire	Yorkshire	Yorkshire	Toed
			8000	%000	8800	8000	SOOO	6000	5000	6000
Equities				23,847		23,847		21,035	1,419	22,454
Government	debt			6,557		6,557		5,493	463	5,956
Corporate bonds				3,983		3,983		2,970	-	2,970
Property				4,420		4,420		3,662	177	3,839
Other				9,763		9,763		7,528	366	7,894
Total				48/70		48,570		40,688	2,425	43,113
Actual return		on plan assets		7,862	628	8,490	-	(1,287)	11	(1,276)

South Yorkshire pension scheme	2021	2020
Discount rate	2.1	2.4
Expected rate ofreturn on plan assets	2.1	2.7
Rate ofincrease in salaries	4.0	3.4
Rate ofinflation	2.7	2.1
Rate ofincrease in pensions	2.8	2.2

North Yorkshire pension scheme	31January	31March
	2021	2020
Discount rate	1.6	2.3
Expected rate ofreturn on plan assets Rate ofincrease in salaries	34	2.5 3.2
Rate ofinflation	2.1	1.9
Rate ofincrease in pensions	2.1	1.9

The history ofthe plans fo	rthe curren	t and prior per	iods is as follo	ws:
Balance sheet
South Yorkshire pension	scheme	2021	2020	2019	2018	2017	2016
		XOOO	6000	6000	f000	f000	f000
Pmsent value ofscheme liabilities		(64,464)	(53,737)	(56,576)	(51,700)	(53,562)	(40,961)
Fair value ofscheme assets		48,570	40,688	43,435	41,748	40,355	32,699
Present value ofunfunded	defined
benefit obligations		(41)	(40)	(54)	(55)	(59)	(63)
Deflcit		(15,935)	(13,089)	(13,195)	(10,007)	(13466)	(8,325)

Notes	to the financial statements	(continued)
22	Pension schemes (continued)
	Experience adj ustments
		2021	2020	2019	2018	2017	2016
		'/o	'/o	o/o	s/s	'/o	'/o
	Experience losses/(gains) on schnne
	liabilities as apercentage ofscheme
	liabilities	14.1	(8.4)	6.1	(7.1)	19.4	(7.4)
	Experieace gains/(tosses) on schtsne
	assets as apercentage ofscheme assets	14.2	(8.7)	3.0	1.5	15.5	(2.5)
	Balance sheet
	North Yorkshire Pension Fund
		2021	2020	2019	2018	2017	2016
		OOOO	f000	f000	6000	6000	f000
	Present value ofsche3ne liabilities Fair value ofschetne assets		(2,325) 2,425	(2,372) 2,422	(2,212) 2,161	(2,046) 1,930	(1,547) 1,506
	Surplus/(deficit)		100	50	(51)	(116)	(41)
	Experience adjustments
		2021	2020	2019	2018	2017	2016
		'/o	o/O	'/o	'/o	'/o	'/o
	Experience (gains)/losses on scheme
	liabilities as apercentage ofscheme
	liabilities		(34)	0.6	0.2	17.4	(7.5)
	Experience (tosses)/gains on scheme
	assets as apercentage ofschane assets		(2.0)	5.5	4.8	16,2	(3.3)

sponsoring employer or has been allocated a share ofcost under an a shown.	greed group policy throughou	t the periods
	2021	2020
	f000	f000
Present value offunded defined benefit obligations	(64,505)	(53,777)
Fair value ofplan assets	48,570	40,688
Net aabalty	(15„s/35)	(13,089)
Movements inpresent value ofdefined benefit obligation
	2021	2020
	8000	f000
At beginning ofyear	53)777	15,174
Current service cost	828	996
Interest cost	1,284	1,405
Curtailment	230
Actuarial losses/(gains)	9,072	(4,498)
Past service cost		97
Contributions by members	169	193
Benefits paid	(855)	(1,047)
Business combinations		41,457
At end ofyear	64,505	53,777
Movements infair value ofplan assets
	2021	2020
	8000	5000
At beginning ofperiod	40,688	13240
Expected return on plan assets	977	1,082
Actuarial gains/(losses)	6,886	(3,543)
Administration expenses	(12)	(14)
Contributions by employer	717	582
Contributions by members	169	193
Benefits paid	(855)	(1,047)
Business combinations		30,195
At end ofyear	48,570	40,688

xpense recogn	ised in the statement offinancial activities
		2021	2020
		8000	f000
Dumnt service	cost	828	996
Past service cost			97
Effect ofcurtailments		230
Interest on defined beaefit pension plan obligation		1,284	1,405
Expected return	on defined benefit pension plan assets	(977)	(1,082)
Administration	expenses	12	14
Total		1477	1,430

			2021	2020
			8000	5000
Staff	costs		1,070	1,107
Other	finance	income	307	323
Total			1477	1,430

he fair va	lue ofthe plan assets and the return on tho	se assets were as follows:
		2021	2020
		Fair value f000	Fair value 5000
Equities		23,847	21,035
Government	debt	6,557	5,493
Corporate	bonds	3,983	2,970
Property		4,420	3,662
Other		9,763	7,528
Total		48+70	40,688
Actual return oa plan assets		7,862	(1,287)

outb Yorkshire pension scheme
Cbaage in assumption at31March 2021:	Approximate %	Approximate
	iacrease/(decrease)	monetary
	to the defined	amount (S'000)
	benefit obligation
0.1%increase in discount rate	(1.9%)	(1,219)
0.1%increase in inflation	1.9'/o	1,243
0.1%increase in pay growth	0.2%	129
1 year increase in life expectancy	2.6%	1,899

Fixed assets	Fixed assets		233
Intangible	assets		2
Stock			1
Debtors			24
Cash —clearing accounts			1
Creditors:	Amount	falling due in less than one year	(86)
Net Assets			175

		8000
Debtors		8
Cash —clearing accounts		1
Creditors: Amount	falling due in less than one year	(15)
Net Assets		(6)