2022-03-31-accounts

Trustees' and directors' report (including	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 (incorporating			income	dt expenditure		account)	18
Company statement offinancial activities		(incorporating	income dt		expenditure	accouni)		19
Consolidated balance sheet								20
Company balance sheet								21
Consolidated cash flow statement								22
Notes to the financial statements								23

HG emisslons and energy use datafor	pe	riod I-	A	pril-2	021	to 3	1-Mare/i-2022
							Baseline Reporting Year	Current Reporting Year
							2019-2020	2021-2022
							UK GHG Emission and	UK GHG Emission and
							Energy Data	Energy Data
Energy consumption used to calculate mandatory energy sources are included.		emissions		(kWh],		all	47,407,108	45,432,606
Scope 1:Emissions from the combustion	of	Natural	Gas tCOze				2,877.2	1,935.0
Scope 1:Emissions from combustion of Fuel for heating (Tinsley) tCOze			transport			and	81.6	32.2
Scope 3: Emissions from business travel		in employee			owned
vehicles, where the company repaid	mileage		claims		tCOze		3.8	4.8
(average vehicle / fuel source unknown)
Scope 2:Emissions from purchased Electricity tCOze							4,674.1	3,454.1
Scope 2: Emissions from purchased Heat Heating tCOze		/ Steain		from	District		1,286.3	1,775.6
Total gross Coze based on above [tCOze]							8,923.0	7,200.1
Intensity Ratio: kg COze gross based on	mandatory			fields	above
per metre square ofGross Internal Area:							60.3kg COze m	53.0kg COze m.z
(kg COze m.z]

For the year ended 3	1M	arc	h	21)22
						Unrestricted	Restricted	Total	Total
						funds	Funds—	funds	funds
							charitable
							activities
					Note	2022	2022	2022	2021
						%000	$000	5000	f000
Incoming resources
Income from charitable	activities					20,235		20,235	5,224
Investment income						9		9	5
Income from donations	and		legacies - Grants			1,321		1,321	8,849
receivable
Income from donations	and legacies - Sheffield					7,569	3,943	11,512	I1,742
City Council
Total incoming resources						29,134	3,943	33,077	25,820
Resources expended
Expenditure on raising	funds					(13,223)	(1,624)	(14,847)	(9,843)
Expenditure on charitable		activities —general				(16,443)	(665)	(17,108)	(I8,457)
Expenditure on charitable		activities - pension				12,957		12,957
Total resources expended					3	(16,709)	(2&289)	(18,998)	(28,300)
Net incoming/(outgoing)		resources before tax			6	12,425	1,654	14&079	(2,480)
Taxation					9	396		396	68
Net incoming/(outgoing) other recognised gains	resources before and losses					12,$21	t,654	14,475	(2,412)
Actuarial gain/(loss) recognised				in the pension	2/	3,677		3,677	(2,530)
scheme
Related tax									19
Net profit/(loss) in the	year					16,498	1,654	1$,152	(4,923)
Fund balances brought	forward					(18,510)	30,688	12,178	17,10)
Fund balances carried	forward				4/5	(2,012)	32442	30,330	12,178

						Unrestricted	Restricted	Total	Total
						funds	funds—	funds	funds
							charitable
							activities
					Note	2022	2022	2022	2021
						5000	5000	%000	f000
Incoming resources
Income from charitable	activities					8,474		8&474	3,092
Invesnnent income						9		9	5
Income from donations	and legacies		—Cnants receivable			692	1,909	2,601	5,022
Income from donations	and legacies		- Sheffield	City
Council						7&204		7,204	11,742
Total incoming resources						16,379	1,909	18,288	19,861
Resources expended
Expenditure on charitable activities —general						(16,695)	(665)	(17360)	(19,017)
Expenditure on charitable activities			- pension			12,957		12&957
Total resources expended						(3,738)	(665)	(4,403)	(19,017)
Net incoming resources before		tax				12,641	1,244	13,885
Tax
Net incoming resources before		other recognised
gains and losses						12,641	1,244	13,885	844
Actuarial gain/(loss) recognised		in the pension		scheme	2/	3,677		3,677	(2,186)
Net profit/Ooss) in the	year					16418	1,244	17,562	(1,342)
Fund balances brought	forward					(18,560)	9,930	(8,630)	(7,288)
Fund balances carried	forward				4/5	(2,242)	11,174	8,932	(8,630)

As at31Itfarcit 202	2
						Note		2022		2021
							5000	5000	OOOO	5000
Fixed assets
Intangible Assets						II	26		35
Tangible fixed assets						12	151,986		152,636
Negative goodwill						IO	(6,573)		(6,778)
								145,439		145,893
Current assets
Stocks						I4	216		123
Debtors (including	debtors		due	atter one	year	of I5	34,356		35,651
632,490,000(202Ii 632,49a000))
Cash at bank and in hand							7,968		4,147
							42,540		39,921
Creditors: amounts	falling		due within one year				(29,922)		(29,631)
Net current assets								12,618		10,290
Total assets less current liabilities								158,057		156,183
Creditors: amounts	falling		due atter more than
one year						I7		(127,727)		(127,674)
Provisions for liabilities						I8				(396)
Net assets —excluding		pension asset and liability						30g30		28,113
Pension liability						2I				(15,935)
Net assets —including		pension asset and liability						30330		12,178
Fund balances
Unrestricted reserves
Designated reserve								505		512
General reserve								(2,517)		(3,087)
Pension reserve										(15,935)
Net unrestricted funds								(27012)		(18,510)
Restricted funds								32,342		30,688
Total funds								30,330		12,178
The accompanying	notes form part ofthe financial statements.
These financial statements			were approv dby		the	board ofdirectors on 21July 2022 and were			signed on its	behalf by:
D Grey MBE
Chairman
Charity Registration	Number 700520 / Company					re istration	number: 2164600

						Note		2022		2021
							8000	f000	f000	f000
Fixed assets
Invesnnents						13
Intangible assets						ii	26		35
Tangible fixed assets						)2	125,282		125,440
								125,308		125,475
Current assets
Stock						)4			9
Debtors (including	debtors			due after	one year of	15	33376		35,495
532,490,000(2021	-	$32,490,000))
Cash at bank and in	hand						1,474		2,629
							34,850		38,133
Creditors: amounts		falling due within one year				16	(23,499)		(28,629)
Net current assets								11451		9,504
Total assets less current liabilities								136,659		134,979
Creditors: amounts		falling		due after more than
one year								(127,727)		(127,674)
Net assets —excluding			pension liability					8,932		7,305
Pension liability						2I				(15,935)
Net liabilities —including				pension	liability			8,932		(8,630)
Fund balances
Unrestricted reserves
Designated reserve								505		512
General reserve								(2,747)		(3.137)
Pension reserve										(15,935)
Net unrestricted funds								(2,242)		(18,560)
Restricted funds								11,174		9,930
Total funds								8,932		(8,630)

Consolidated cash flow statement	Consolidated cash flow statement
Foryear ended 31March 2022
		Nore	2022	2021
			8000	EOOO
Cash flows from operating activities
Net incoming/(outgoing) resources before other recognised gains orlosses			14,475	(2,412)
Ad/us/meats fori
Depreciation and amortisation		IO/I I//2	3,603	3,199
Interest receivable and similar income			(9)	(5)
interest payable and similar charges			3&338	4,248
Pension (receipts)/charges in excess ofcash contributions			(12,600)	112
Tax			(396)	(68)
(Profit)/loss on disposal			(539)	33
			7,872	5,107
Decrease/(increase) in trade and other debtors		/5	1,252	(597)
(Increase)/decrease in stocks		/4	(93)	27
Increase in trade and other creditors		/6	414	97
			9,445	4,634
Tax received			43
Net cash from operating activities			9,488	4,634
Cash flows from investing activities
Acquisition oftangible fixed assets Acquisition ofintangible assets		/2 II	(3,619)	(1,662) (43)
Proceeds from disposal oftangible	fixed assets		1,009
Interest received			9
Net cash from investing activities			(2,601)	(1,700)
Cash flows from financing activities
Proceeds from new loan			15,910	15,894
Interest paid			(2,991)	(3,940)
Repayment ofborrowings			(15,721)	(14,709)
Payment offinance lease liabilities			(264)	(425)
Net cash fram financing activities			(3,066)	(3,180)
Net increase/(decrease) in cash and	cash equivalents		3,821	(246)
Cash and cash equivalents brought	forward		4,147	4,393
Cash and cash equivalents carried forward			7,968	4,147

							2022	2021
							8000	6000
Turnover							11,762	1,963
Other operating income							2325	1,515
Raw materials and consumabies							(1,486)	(95)
Staffcosts							(3~527)	(2,297)
Depreciation							(1,208)	(871)
Other operating charges							(9,299)	(3,480)
Operating loss							(1,433)	(3,265)
Net interest payable							(2)	(26)
Loss on ordinary activities before taxation							(1,435)	(3,291)
Tax on loss on ordinary activities							395
Loss retained in the subsidiary							(1,040)	(3,291)
The directors reviewed the funding		arrangeinents		for Sheffield International		Venues Limited and its budgets for
the coming years and believe	that it will gradually			start to make a positive		contribution	to the financial	affairs
ofthe charity as the business	returns	to normal levels following			the Covid-19 pandemic.
							2022	2021
The assets and liabilities ofthe	subsidiary		were				5000	6000
Tangible fixed assets							3,392	3,020
Current assets							8,716	11,025
Creditors: amounts falling due within one			year			(10,805)		(11,818)
Creditors: amounts falling due after more			than one year				(1,303)	(792)
Provisions for liabilities								(395)
Net assets								1,040
Statement ofother comprehensive	income
							2022	2021
							5000	f.000
Loss for the financial period							(1,040)	(3,291)
Total comprehensive expense	for the	financial year					(1&040)	(3,291)

7Hills Leisure Trust
	Unrestricted
	funds-	Total	Total
	General	funds	funds
	2022	2022	2021
	f000	f000	f000
Incomiag resources
Income from charitable activities			35
Income from donations snd legacies - grants receivable			12
Total incoming resources			47
Resources expeaded
Expenditure on charitable activities	(414)	(414)	(122)
Total resources expended	(414)	(414)	(122)
Net outgoing resources before other
recogaised gains and losses	(414)	(414)	(73)
Net movements in the year	(414)	(414)	(75)
Fund balances at I April 2021	414	414	489
Fund batauces carried forward			414

			2022	2021
The assets and liabilities ofthe subsidiary		were:	8000	8000
Current assets				2,187
Creditors: amounts	falling due within one	year		(1,773)
Net assets				414

			2022	2021
			8000	f.000
Income
Lottery grant released			433	433
Yorkshire Forward	grant	released	14	14
Lifecycle fund			53	93
Grant income			71	71
Other income			91	91
Total income			662	702
Expenditure
Building Maintenance				(40)
Depreoiation			(658)	(658)
Operating profit
Profit on ordinary	activities before tax			4
Tax on profit on ordinary		activities		35
Protlt retained in	the subsidiary			39

			2022	2021
The assets and liabilities ofthe subsidiary		were:	f000	f000
Tangible fixed assets			16,741	17,399
Current assets			2,611	2,520
Deferred income; amounts	falling due within one year		(571)	(571)
Deferred income: amounts	falling due after more than one year		(18,882)	(19,453)
Net liabilities			(101)	(105)

					2022	2021
					f000	f000
Tiiinover						123
Other operating income					65	1,575
Raw materials and consumsbles						(46)
Staff costs					241	(632)
Depreciation						(20)
Other operating charges					(67)	(884)
Operating protit					239	116
Other finance income						3
Other income					1,502
Protit on ordinary activities before taxation					1&741	119
Tax on profit on ordinary activitim						32
Profit retained in the subsidiary					1,741	151
The operation ofTapton Golf	course	was transferred	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	Cafe was transferred		to Scarborough	Borough Council on 1 February
2021 following termination ofthe contract.
					2022	2021
The assets and liabilities ofthe subsidiary		were:			f000	f000
Current assets						1,815
Creditors: amounts falling due within one year						(3,556)
Net assets/(liabilities)						(1,741)
Statement ofother comprehensive	income
					2022	2021
					f000	f000
Profit for the financial year					1,741	151
Actuarial loss recognised in the pension		scheme				(344)
Tax on actuarial loss						19
Total comprehensive income/(expense)		for the tinancial	year		1,741	(174)

										Group		Company
Unresuicted	funds								2022		2021	2022	2021
									8000		f000	8000	f000
Expenditure	on raising junds
Ground rent									40		26
Other finance income —including						pension			I		(3)
Overheads	including	staff		costs,			depreciation	and
finance lease interest									13,182		8,902
									13,223		8,925
Expenditure	on charitable		activities				—General
Ground rent									115		80	115	80
Interest on loans									92		84	92	84
Interest payable on bonds									2,873		3,803	2,873	3,803
Other finance costs —including					pension				342		319	342	319
Overheads	including	staff		costs,			depreciation	and
finance lease interest									13,021		13,487	13,273	14,047
									16,443		17,773	16,695	18,333
Expenditure	on charitable		acti		vi	ties	- Pension
Pension scheme settlement									(12,957)			(12,957)
									(12,957)			(12,957)
Total unrestricted		resources			expended				16,709		26,698	3,738	18,333
Restri teedfunds
Expenditure	on raising funds
Overheads									440		194
Depreciation									1,184		724
									1,624		918
Expenditure Overheads	on charitable		aciivuies						38		219	38	219
Depreciation									627		465	627	465
											684	665	684
Total restricted resources			expended						2,289		1,602		684

et outgoi	n	g resource	s bef	ore taxation are stated a	fter charging
						Group		Company
					2022		2021	2022	2021
					5000		0000	5000	8000
Auditor's	remuneration		-Audit	ofthese financial	101		100	40	45
statements
Depreciation		ofowned assets			3,575		3,054	11505	1,300
Depreciation		ofassets held under finance leases			224		340	224	340
Hire ofassets under operating				leases - other assets	129		181	129	167
Amortisation		ofnegative	goodwill		(205)		(205)
Impairment		oftrade receivables					22		12
Inventory	recognised as		an expense		1,149		72

he average number ofpersons e ategory, was as follows:	mployed by the group (includi	ng dire	ctors) duri	ng the year analysed by	ng the year analysed by
		Group		Company
	2022		2021	2022	2021
	Number		Number	Number	Number
Leisure	304		323	304	315
Maintenance	125		167	125	151
Administration	121		133	121	127
Catering	157		167	157	143
	707		790	707	736

		Group		Company
	2022		2021	2022	2021
	tt000		5000	8000	6000
Wages and salaries	9,814		10,112	9,814	9,514
Social security costs	652		662	660	624
Other pension costs	(12800)		1,402	(12,000)	1,578
Redundancy costs	12		863	1	708
	(1,822)		13,039	(1,525)	12,424

he number of employees in the group whose ollows:	emoluments amounted to over f60,000 in t	he year was as
	2022	2021
f60,001 - 670,000 f70,001 - 680,000	4 1	4 1
6100,001 - B10,000
6110,001 - 6120,000

to the fin	ancial statements (continued)
Tax
Analysis afcharge iayear			Group
		2022		2021
		6000		6000
Currenttax
Adjustments	in respect ofprior periods			(76)
Total current	tax charge for the year			(76)
Deferred tsx
Origination and revetsat oftiming differences		(396)
Total tax credit for the year		(396)		(68)

Factors affecting the tax charge for the current year
The current tax charge for the period is lower (2021:higher)	than the standard	rate ofcorporation	tax in the
United Kingdom, which, for the period ended 31 March 2022, was 19%(2021:19%).The differences				are
explained below;
		2022		2021
		0000		f000
Net inooming/(outgoing) resources before tax		14,079	(2,480)
Current tax at 19%(202/t 19%)		2,675		(471)
Non deductible snd non taxable items		(3,032)		(121)
Adjustments relating to prior periods		(396)		(76)
Pension scheme adjustments				(86)
Deferred tax not recognised				536
Depreciation in excess ofcapital allowances		i99		150
Tax losses		158
Total tax credit for the year		(396)		(68)

egative goodwill
	t000
Cost
At beginning aud eud ofyear	(8,741)
Impairment lossestamortisation
At beginning ofyear	1,963
Charge for year	205
At eud ofyear	2,168
Carrying amount
At end ofyear	(6,573)
At beginning ofyear	(6,778)

ofSport —S	heffield building and the historic grant funding w	hich financed its construction.
Intangible	assets
Group
		Total
		ROOO
Cost
At beginning	ofyear
At eud ofyear		47
Amortisati on
At beginning	ofyear	12
Charge for year		9
At end ofyear		21
Closing net book amonnt
At end ofyear		26
At beginning	ofyear	35

Company
					Total
					g000
Cost
At beginning ofyear					45
At end ofyear					45
Amonisation
At beginning ofyear					10
Charge for year					9
At end ofyear					19
Closing net book amount
At end ofyear					26
At beginning ofyear					35
Tangible fixed assets
Croup		Leasehold	Fixtures,	Assets
	Freehold	land and	fittings and	under
	land	buildings	equipment	construction	Total
	g000	OOOO	KOOO	f000	8000
Cost
At beginning ofyear	468	173,740	25,275	262	199,745
Additions			63	3,556	3,619
Disposals	(468)		(1,735)		(2,203)
Transfers			3,476	(3,476)
At end ofyear		173,740	27,079	342	201,161
Depreciation
At beginning ofyear		30,156	16,953		47,109
Charge for year		1,140	2,659		3,799
Disposals			(1,733)		(1,733)
At end ofyear		31,296	17,879		49,175
Net book value
At end ofyear		142,444	9,200	342	151,986
At beginning ofyear	468	143,584	8,322	262	152,636

Company		Leasehold	Fixtures,
	Freehold	land and	tittings and	Assets Under
	land	buildings	equipment	Construction	Total
	8000	5000	5000	8000	8000
Cost
At beginning ofyear	468	141,439	9,427	188	151,522
Additions			40	2,945	2,985
Disposais	(468)		(1,013)		(1,481)
Transfers			1,822	(1,822)
Group Transfers			46	(992)	(946)
At end ofyear		141,439	10,322	319	152,080
Depreciation
At beginning ofyear		20,537	5,545		26,082
Charge for year		449	1,280		1,729
Disposals			(1,013)		(1,013)
At end ofyear		20,986	5,812		26,798
Not book &aloe
At end ofyear		120,453	4&510	319	125,282
At beginning ofyear	468	120,902	3,882	188	125,440

he following are included in the total ne nance leases.	t book value oftangible fixed assets in respect	ofassets held under
	Group	Company
	Fixtures,	Fixtures,
	fittings and	tittings and
	equipment	equipment
	OOOO	5000
2022
Net book value	806	806
Depreciation	224	224
2021
Net book value	1,013	1,013
Depreciation	340	340

Investment in
substdiary
KOOO

he entitie	s in	whic	h t	he charity holds	beneficial interests are as follows:
					Principal	Country	of	Percentage
					activity	registration		ofordinary
								shares held
Subsidiary	undertakings
Sheffield	International			Venues Liinited	Management ofsporting and	England	and	100
					entertainment facilities and	Wales
					provision ofcatering and
					conferencing services
7Hills Leisure		Trust			Management ofsporting and	England	and
					recreational facilities	Wales
7 Hills Commercial			Limited		Provision ofcatering services	England	and	100ss
						Wales
Phoenix Sports		Limited			Operation and strategic	England	and
					direction ofEnglish Institute of	Wales
					Sport- Sheffield (EISS)
SIV Enterprises		Limited			Management ofsporting and	England	and	100***
					recreational facilities, acatering	Wales
					facility and the provision of
					consultancy services

tocks
				Group		Company
			2022		2021	2022	2021
			5000		f000	5000	6000
Goods for resale			216		123
ebtors
				Group			Company
			2022		2021	2022	2021
			6000		f000	5000	6000
Trade debtors			434		1,480	251	891
Other debtors			497		26		3
Prepayments		and accrued income	33,390		34,067	33,125	33,109
Amounts	owed by group undertakings						1,492
Corporation		tax	35		78
			34,356		35,651	33476	35,495

Creditors:	amounts f	ailing due within one year
				Group			Company
			2022		2021	2022	2021
			8000		OOOO	8000	OOOO
Bank loans	(see note 17l		232		82	232	82
Other loans					1,171		1,171
Obligations	under finance leases (see note 17)		217		308	217	308
Bonds			16,559		15,570	16,559	15,570
Trade creditors			1,335		1,134	1,313	680
Other creditors including		taxation and social security	9,238		8,999	798	431
Accrusls and deferred income			2&341		2,367	1,920	1,161
Amounts owed to group undertakings						2,460	9,226
			29,922		29,631	23,499	28,629

Amounts owed to group undertakings	Amounts owed to group undertakings	Amounts owed to group undertakings	are interest	free and repayable	free and repayable	on	demand.
The carrying	amount	oftrade and other payables		approximates to	their fair value.
Creditors:	amounts	falling due after	more than one year
					Group				Company
				2022			2021	2022	2021
				8000			8000	5000	OOOO
Bank loans				259			219	259	219
Other loans				3,513			2,342	3,513	2,342
Obligations	under finance leases			97			270	97	270
Bonds				17,600			34,155	17,600	34,155
SheAietd City Council				106,258			90,688	106,258	90,688
				127,727			127,674	127&727	127,674

he maturity ofthe bank and other loans is	due as follows:
		Group			Company
	2022		2021	2022	2021
	5000		f000	OOOO	f000
Within one year	232		1,253	232	1,253
In the second to fifth yesis	3~772		2,561	3 772	2,561
	4,004		3,814	4,004	3,814

he bonds are s ff795,000.	tated net of	unamort	ised issue costs off	873,000 an	d gross	ofthe unam	ortised issue prem	ium
					Group		Company
The maturities	ofthe bonds	are as follows:		2022		2021	2022	2021
				5000		f000	KOOO	f000
Within one year				16,559		15,570	16,559	15,570
In the second to fifih years				17,600		34,155	17,600	34,155
				34,159		49,725	34,159	49,725
The maturities	of obligations	under	the leases are as		Group		Company
follows:
				2022		2021	2022	2021
				fOOD		5000	f000	f000
Within one year				217		308	217	308
ln the second to	fitth years			97		270	97	270
				314		578	314	578

			Accelerated tax	Other timing	2022	2021
			depreciation	differences	Total	Total
			%000	f000	$000	OOOO
At I April	2020		386	(249)	137	(1,413)
Movement	in	year	10	(598)	(588)	1,550
At 31 March		2021 &I April 2021	396	(847)	(451)	137
Movernentin		year	(259)	(314)	(573)	(588)
At 31March		2022	137	(1,161)	(1,024)	(451)
Recognised						396
Unrecognised			137	(1,161)	(1,024)	(847)
			137	(1,161)	(1,024)	(451)

nalysis ofgroup	net	assets	betwee	n funds
					2022			2021
				Unrestricted			Unrestricted
				(designated			(designated
				and	Restricted	Total	and	Restricted	Total
				general)			general)
				6000	f000	f000	f000	f000	f000
Tangible fixed assets				119,644	32342	151,986	121,948	30,688	152,636
Intangible Assets				26		26	35		35
Net current assets				12,618		12,618	10,290		10,290
Liabilities falling	due	after	more	(127,727)		(127,727)	(127,674)		(127,674)
than one year
Provision for liabilities		and charges					(396)		(396)
Pension liability (note 21)							(15,935)		(15,935)
Negative goodwill				(6&573)		(6,573)	(6,778)		(6,778)
Net assets as at31	March 2022			(2,012)	32342	30330	(18,510)	30,688	12,178

Annual	commitments	commitments	under non-cancellable	operating	leases are as	follows:
					Group			Company
					2022	2021	2022		2021
					OOOO	fOOO	OOOO		f000
Operating		leases which	expire:
Within		one year			173	142	173		142
In	the	second to fifih years inclusive			326	361	326		361
More		than five years			493	559	493		559
					992	1,062	992		1,062

periods shown.
			2022			2021
		South	Norah		South	North
		Yorkahlra	Yorkshire	Total	Yorkshire	Yorkshire	Total
		g000	OOOO	igloo	6000	f000	POOO
Present value offunded	defined bauetit
obligations					(64,464)		(64,464)
Fair value ofplan assets					48,570		45,570
					(15,1!94)		(15,894)
Present value ofunfunded	defined benefit
obligations					(41)		(41)
Nut liability					(15,935)		(15,935)

Movements in	present	present	present	value ofdefined benefit	obligation
						2022			2021
					South	North		South	North
					Yorkshire	Yorkshire	Total	Yorkshire	Yorkshire	Total
					8000	5000	8000	fOOO	fOOO	ZOOO
At beginning of		year			64,505		64405	53,777	2,325	56,102
Current service		cost			791		791	828	41	869
Interest cost					1,365		1365	1,284	44	1,328
Curtailment								230	8	238
Actuarial losses								9,072	925	9,997
Contributions by members					133		133	169	7	176
Benefits paid					(248)		(248)	(855)	(46)	(901)
Settlements					(66,546)		(66~6)		(3,304)	(3.304)
At end ofyear								64,505		64,505
Movements in	fair		value ofplan assets
						2022			2021
					South	North		South	North
					Yorkshire	Yorkshire	Total	Yorkshire	Yorkshire	Total
					8000	f000	5000	fOOO	KOOO	OOOO
At beginning	ofyear				48,570		48,570	40,688	2,425	43„113
Expected return		on	plan assets		1,023		1,023	977	47	1,024
Actuarial gains					3,677		3,677	6,886	581	7,467
Administration		expenses						(12)		(12)
Contributions	by employer				434		434	717	61	778
Contributions	by members				133		133	169	7	176
Benefits paid					(248)		(248)	(855)	(46)	(901)
Settlements					(53,589)		(53,589)		(3,075)	(3,075)
At end ofyear								48,570		48,570
Expense recognised			in the statement offinancial activities
						2022			2021
					South	North		South	North
					Yorkshire	Yorkshire	Total	Yorkshire	Yorkshire	Total
					6000	6000	6000	f000	IOOO	6000
Current service	cost				791		791	828	41	869
Effectofcurtailments								230	8	238
Liabilities extinguished				on settlement	(66,546)		(66,546)		(3,304)	(3,304)
Assets distributed		on	settlement		53,589		53,589		3,075	3.075
Administration	expenses							12		12
Interest on detined benefit pension plan obhgation					1365		1/65	1284	44	1,328
Expected return		on defined benefit pension plan assets			(1,023)		(1,023)	(977)	(47)	(1,024)
Total					(11,824)		(Itdt24)	I;377	(183)	1.194

he e	xpense	is recognised in the fol	lowing line items in t	he statement	offinanci	al activitie	s:
				2022			2021
			South	North		South	North
			Yorkshire	Yorkshire	Tutu(	Yorkshire	Yorkshire	Total
			6000	6000	6000	6000	f000	6000
Staff	costs		(12,166)		(12,166)	1,070	(180)	890
Other	finance	(income)tcusts	342		342	307	(3)	304
Total			(11/24)		(11,824)	1,377	(183)	1,194

(2021: 62,530	(2021: 62,530	,000loss).
The fair value		ofthe plan assets and the	return on those assets were as		follows:
				2022			2021
			South	Nortb		South	North
			Yorkshire	Yurksbire	Total	Yorkshire	Yorkshire	Total
			8000	OOOO	%000	f000	f.000	f000
Equities						23,847		23,847
Government	debt					6,557		6,557
Corporate	bonds					3,983		3,983
Property						4,420		4,420
Other						9,763		9,763
Total						48,570		48,570
Actual return		on plan assets	4,700		4,700	7,862	628	8,490

South Yorkshire pension	scheme	2022	2021
Discount rate		2.7	2.1
Expected rate ofreturn on plan assets		2.7	2.1
Rate ofincrease in salaries		4.2	4.0
Rate ofinflation		3.7	2.7
Rate ofincrease in pensions		3.2	2.8

Pension schemes (continued) History ofplans	Pension schemes (continued) History ofplans	Pension schemes (continued) History ofplans	Pension schemes (continued) History ofplans
The history ofthe plans for the current and prior periods is as follows:
Balance sheet
South Yorkshire pension scheme		2021	2020	2019	2018	2017
		8000	8000	8000	f000	f000
Present value ofscheme liabilities		(64,464)	(53,737)	(56,576)	(51,700)	(53,562)
Fair value ofscheme assets		48,570	40,688	43,435	41,748	40,355
Present value ofunfunded	defined
benefit obligations		(41)	(40)	(54)	(55)	(59)
Deficit		(15,935)	(13,089)	(13,195)	(10,007)	(13,266)
Experience adj us/ments
	2022	2021	2020	2019	2018	2017
Experience losses/(gains)	on scheme
liabilities as apercentage	ofscheme
liabilities		14.1	(8.4)	6.1	(7.1)	19.4
Experience gains/(losses)	on scheme
assets asapercentage ofscheme assets		14.2	(8.7)	3.0	1.5	15.5

ponsoring employer or has been allocated a share ofcost un eriods shown.	der an agreed group policy	throughout the
	2022	2021
	8000	i000
Present value offunded defined benefit obligations		(64,505)
Fair value ofplan assets		48,570
Net liability		(15,935)

Movements in present	value ofdefine	d benefit o	bligation
				2022	2021
				8000	f000
At beginning ofyear				64,505	53,777
Current service cost				791	828
Interest cost				1,365	1,284
Curtailment					230
Actuarial losses					9,072
Contributions by members				133	169
Benefits paid				(248)	(855)
Settlements				(66&546)
At end ofyear					64,505
Movementsin fair value ofplan assets
				2022	2021
				0000	f000
At beginning ofyear				48,570	40,688
Expected return on plan assets				1,023	977
Actuarial gains				3,677	6,886
Administration expenses					(12)
Contributions by employer				434	717
Contributions by members				133	169
Benefits paid				(248)	(855)
Settlements				(53,589)
At end ofyear					48,570
Expense recognised in	the statement	offinancial	activities
				2022	2021
				5000	f000
Current service cost				791	828
Effect ofcurtailments					230
Liabilities extinguished	on settlement			(66,546)
Assets distributed om settlement				53,589
Interest on defined benefit pension plan		obligation		1,365	1,284
Expected return on defined benefit pension plan assets				(1,023)	(977)
Administration expenses					12
Total				(11,824)	1,377

					2022	2021
					8000	8000
Staff costs					(12,166)	1,070
Other finance income					342	307
Total					(11,824)	1,377
The total company f3,677,000 (2021:	amount recognised E2,186,000loss).		in the statement	offinancial	activities in respect ofactuarial	gain is

he fair valu	e	ofthe plan assets and the return on tho	se assets were as follows;
			2022	2021
			Fair value	Fair value
			%000	OOOO
Equities				23,847
Government	debt			6,557
Corporate bonds				3,983
Property				4,420
Other				9,763
Total				48,570
Actual return		on plan assets	4,700	7,862