2023-03-31-accounts - Sheffield City Trust

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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							12
Independent auditor's report to the members ofSheffield			City Trust				13
Consolidated statement offinancial	activities (incorporating			income &expenditure		account)	16
Company statement offinancial activities		(incorporating	income &expenditure		account)		17
Consolidated balance sheet							18
Company balance sheet							19
Consolidated cash flow statement							20
Consolidated analysis ofnet debt							21
Notes to the financial statements							22

HG emissions and energy use data for	pe	riod 1-	A	pril-2	022	to 31	-March-2023
							Reporting Year	Reporting Year
							2021-2022	2022-2023
							UK GHG Emission and	UK GHG Emission and
							Ener Data	Ener Data
Energy consumption used to calculate mandatory energy sources are included.		emissions		(kWh],		all	45,432,606	50,791,906.2
Scope 1:Emissions from the combustion	of	Natural	Gas tCOze				1,935.0	1,943.8
Scope 1:Emissions from combustion of Fuel for heating (Tinsley) tCOze			transport			and	32.2	116.5
Scope 3: Emissions from business travel		in employee			owned
vehicles, where the company repaid	mileage		claims		tCOze		4.8	7.7
(average vehicle / fuel source unknown)
Scope 2:Emissions from purchased Electricity tCOze							3,454.1	3,542.6
Scope 2: Emissions from purchased Heat Heating tCOze		/ Steam		from	District		1,775.6	2,152.9
Total gross COze based on above (tCOze)							7,200.1	7,763.1
intensity Ratio: kg Coze gross based on	mandatory			fields	above
per metre square ofGross Internal Area:							53.0 kg COze in z	51.8hg COze m.z
(kg COze m.z)

For the year ended 3	1	Marc	h 2023
					Unrestricted	Restricted	Total	Total
					funds	Funds—	funds	funds
						charitable
						activities
				Note	2023	2023	2023	2022
					$000	$000	%000	OOOO
Incoming resou rces
Income from charitable	activities				29319		29,319	20,235
Investment income					103		103	9
Income from donations		and	legacies - Cn'ants		212		212	1,321
receivable
Income from donations	and legacies - Sheffield				9,668	2,244	11,912	II,512
City Council
Total incoming resources					39&302	2,244	41,546	33,077
Resources expended
Expenditure on raising	funds				(20,41$)	(1,688)	(22,106)	(14,847)
Expenditure on charitable		activities —general			(14,881)	(2,061)	(16,942)	(17,I08)
Expenditure on charitable		activities - pension						12,957
Total resources expended				3	(35,299)	(3,'749)	(39,04$)	(18,998)
Net incoming/(outgoing)		resources before tax		6	4,003	(1&505)	2,498	14,079
Taxation				9	35		35	396
Net incoming/(outgoing) other recognised gains	resources before and losses				4,03$	(1,505)	2,533	14,475
Transfer between funds					(9)
Actuarial gain recognised		in the pension		22				3,677
scheme
Net profit/(loss) in the	year				4,029	(1,496)	2,533	18,152
Fund balances bmught	forward				(2,012)	32342	30330	12,I78
Fund balances carried	forward			4/5	2,017	30,846	32,863	30,330

						Unrestricted	Restricted	Total	Total
						funds	funds—	funds	funds
							charitable
							activities
					Note	2023	2023	2023	2022
						8000	8000	8000	5000
Incoming resources
Income from charitable	activities					10&500		10,500	8,474
Investment income						102		102	9
Income from donations	and legacies		—Grants receivable			7		7	692
income from donations	and legacies		—Sheffield City
Council						9,668	1,918	11,586	9,113
Total incoming resources						20,277	1,918	22,195	18,288
Resources expended
Expenditure on charitable		activities —general				(16,942)	(2,061)	(19,003)	(17,360)
Expenditure on charitable		activities - pension							12,957
Total resources expended						(16,942)	(2,061)	(19,003)	(4,403)
Net incoming/(outgoing)		resources	before tax			3335	(143)	3,192	13,885
Tax
Net incoming/(outgoing)		resources	before other
recognised gains and losses						3,335	(143)	3,192	I3,885
Transfer between funds						(9)
Actuarial gain recognised		in the pension		scheme	22				3,677
Net profit/(loss) in the	year					3,326	(134)	3,192	17,562
Fund balances bmught	forward					(2,242)	11,174	8,932	(8,630)
Fund balances carried	forward				4/5	1,084	11,040	12,124	8,932

s at31March 202	3
							Nore		2023		2022
								5000	5000	f000	5000
Fixed assets
Intangible Assets							ll	17		26
Tangible fixed assets							12	149+37		151,986
Negative goodwill							lo	(6,368)		(6,573)
									142,986		145,439
Current assets
Stocks							l4	233		216
Debtors (including	debtors	due	after	one	year	of	l5	35,166		34,356
132,490,000 (2022i f32.490,000))
Cash at bank and in hand								6,013		2,968
Cash at bank and in hand —third party ticket monies								9,036		5,000
								50,448		42,540
Creditors: amounts	falling	due within one year						(34,016)		(29,922)
Net current assets									16,432		12,618
Total assets less current liabilities									159,418		158,057
Credito rai amounts	falling due after more			than
one year Provisions for liabilities							18 l9		(126,440) (115)		(127,727)
Net assets									32,863		30,330
Fund balances
Unrestricted reserves
Designated reserve									377		505
General reserve									1,640		(2,517)
Net unrestricted funds									2,017		(2,012)
Restricted funds									30,846		32,342
Total funds									32,863		30,330

			Note		2023		2022
				8000	8000	f000	f000
Fixed assets
Investments			13
Intangible assets			1/	17		26
Tangible fixed assets			12	124,597		125,282
					124,614		125,308
Current assets
Stock			/4
Debtors (including f32,490.000(2022	debtors due atter one year of —632A90,000/)		15	36,454		33,376
Cash at bank and in	hand		16	3,000		1,474
				39&454		34,850
Creditors: amounts		falling due within one year		(25489)		(23,499)
Net current assets					14,065		11,351
Total assets less current liabilities					138,679		136,659
Creditors: amounts		falling due atter more than
one year			/8		(126,440)		(127,727)
Provision for liabilities			/9		(115)
Net assets					12,124		8,932
Fund balances
Unrestricted reserves
Designated reserve					377		505
General reserve					707		(2,747)
Net unrestricted funds					1,084		(2,242)
Restricted funds					11,040		Il, 174
Total funds					12,124		8,932

Consolidated cash flow statement	Consolidated cash flow statement	Consolidated cash flow statement
Foryear ended 3IMarch 2023
			Note	2023	2022
				0000	6000
Cash flows from operating activities
Net incoming resources before other recognised		gains or losses		2,533	14,475
Adjustments for:
Depreciation and amortisation			IO/I I/I2	4,498	3,603
Interest receivable and similar income				(103)	(9)
Interest payable and similar charges				2,047	3,338
Pension receipts in excess ofcash contributions					(12,600)
Tax					(396)
Profit on disposal				(5)	(539)
Provision for dilapidations				115
				9,085	7,872
(Increase)/decrease in trade and other debtors			/5	(845)	1,252
Increase in stocks			/4	(17)	(93)
Increase in trade and other creditors			/7	3,099	414
				11322	9,445
Tax receivtxI				35	43
Net cash from operating activities				11,357	9,488
Cash flows from investing activities
Acquisition oftangible tixed assets			I2	(2,045)	(3,619)
Proceeds from disposal oftangible	fixed assets			5	1,009
Interest received				103	9
Net cash from investing activities				(1,937)	(2,601)
Cash flows from financing activities
Proceeds from new loan				16,559	15,910
Interest paid Repayment ofborrowings				(2,043) (16,791)	(2,991) (15,721)
Payment offinance lease liabilities				(64)	(264)
Net cash from tinancing activities				(2339)	(3,066)
Net increase in cash and cash equivalents				7,081	3,821
Cash and cash equivalents brought	forward			7,968	4,147
Cash and cash equivalents carried forward				15,049	7,968

oryear ended 31March 202	3
	At	1 April	Cashflows	New finance	Non-cash	At 31March
		2022		leases	movements	2023
		fOOO	OOOO	f000	OOOO	%000
Cash at bank and in hand		7,968	7,081			15,049
Bank loans		(491)	232			(259)
Other loans		(35 13)				(3,513)
Finance Leases		(3141	304	(240)		(250)
Bond		(34,159)	16,559		(4)	(17,604)
Sheffield City Council	(106,258)		(16,559)			(122,817)
	(136,767)		7,617	(240)	(4)	(129/94)

					2023	2022
					5000	8000
Tulilover					18,818	11,762
Other operating income					846	2,325
Raw materials and consumables					(2,612)	(1,486)
Staff costs					(5,051)	(3,527)
Depreciation					(1,354)	(1,208)
Other operating charges					(9,869)	(9,299)
Operating	profit/(loss)				778	(1,433)
Net interest	payable				(14)	(2)
Profit/(loss)	on ordinary		activities before taxatlon		764	(1,435)
Tax on profit/(loss) on		ordinary		activities		395
Profit/(loss)	retained	in	the subsidiary		764	(1.0401

The directors reviewed the funding	arrangements	arrangements	for Sheffield International	for Sheffield International	for Sheffield International	Venues Limited and its	budgets for
the coming year and believe that	due to the significant			increase	in energy	costs, it will not make a positive
contribution to the financial affairs	ofthe charity		in 2023/24. The		directors	will keep this position	under close
review and take appropriate action	to mitigate against future losses.
						2023	2022
The assets and liabilities ofthe subsidiary		were.				8000	f000
Tangible fixed assets						2,290	3,392
Current assets						13,511	8,716
Creditors: amounts falling due within	one year					(14443)	(10,805)
Creditors: amounts falling due after more		than one year				(694)	(1,303)
Net assets						764
Statement ofother comprehensive income
						2023	2022
						8000	5000
Profit/(loss) for the financial period						764	(1,040)
Total comprehensive income/(expense)		for the financial year				764	(l„040)

7 Hills Leisure Trust
	Unrestricted
	funds-	Total	Total
	General	funds	funds
	2023	2023	2022
	f000	f000	f000
Resources expended
Expenditure on charitable activities			(414)
Total resources expended			(414)
Net outgoing resources before other
recognised gains and losses			(414)
Net movements in the year			(414)
Fund balances at 1 April 2022			414
Fund balances carried forward

			2023	2022
The assets and liabilities ofthe subsidiary		were;	f000	f000
Current assets
Creditors: amounts	falling due within one	year
Net assets

			2023	2022
			f.000	f000
Income
Lottery grant released			433	433
Yorkshire Forward	grant	released	14	14
Lifecycle fund			424	53
Grant income			71	71
Other income			92	91
Total income			1,034	662
Expenditure
Building Maintenance			(372)
Depreciation			(658)	(658)
Operating profit
Profit on ordinary	activities before tax		4
Tax on profit on ordinary		activities	35
Profit retained in	the subsidiary		39

				2023	2022
The assets and liabilities	ofthe subsidiary		were:	5000	8000
Tangible fixed assets				16,083	16,741
Current assets				2466	2,611
Deferred income: amounts		falling due within one year		(571)	(571)
Deferred income: amounts		falling due after more than one year		(17,940)	(18,882)
ftet liabilities				(62)	(101)

				2023	2022
				f000	f000
Other operating	income				65
Staffcosts					241
Other operating	charges				(67)
Operating protit					239
Other income					1,502
Profit on ordinary		activities before taxation			1,741
Tax on profit on	ordinary		activities
Profit retained	in	the subsidiary			1,741

			2023	2022
			f000	f000
Profit	for the financial	year		1,741
Total	comprehensive	income for the financial year		1,741

											Company
Unrestricted	funds								2023	2022	2023	2022
									8000	f000	L000	f000
Expenditure	on	raising funds
Ground rent									15	40
Other finance costs —including						pension				I
Overheads	including staff'				costs,		depreciation	and
finance lease interest									20,403	13,182
									20,418	13,223
Expendi turc	on	charitable		activities			- General
Ground rent									115	115	115	115
Interest on loans									137	92	137	92
Interest payable		on bonds							1,885	2,873	1,885	2,873
Other finance costs —including						pension				342		342
Overheads	including staff				costs.		depreciation	and
finance lease interest									12,744	13,021	14,805	13,273
									14,881	16,443	16,942	16,695
Expenditure	on	charitable		activities			- Pension
Pension scheme		settlement								(12,957)		(12,957)
										(12,957)		(12,957)
Total unrestricted			resources			expended			35,299	16,709	16,942	3,738
Restricted funds
Expettdi etre	on	raisi	ng funds
Overheads									656	440
Depreciation									1,032	1,184
									1,6S8	1,624
Expendttu re	on	char	nable	acti		vi ties
Overheads									649	38	649	38
Depreciation									1,412	627	1,412	627
									2,061	665	2,061	665
Total restricted		resources		expended					3,749	2,289	2,061	665

Unrestricted funds
The breakdown ofthe unrestricted	funds between	designated	and general	funds is as	follows:
					At 31				At 31
	At 31				March			Transfer	March
	March				2022			between	2023
	2021 5000	Income fOOO			year f000	Income 8000	Utilised 8000	reserves 8000	year 8000
Group
Designated funds
Direct support ofother charitable	505	95	(109)		491	100	(214)		377
activities in Sheffield
Health fund			(2)				(5)
Other designated reserves		78	(69)					(9)
Gemraifuiids
Retained (deficit)/surplus	(3,087)	28.961	(28,391)		(2,517)	39302	(35.045)		1,640
Pension reserve	(15,935)		12,258	3,677
	(18.510)	29.134	(16.313)	3,677	(2,012)	39802	(35,264)	(9)	2,017
Company
Designated funds
Direct support ofother charitable activities in Sheffield	505	95	(109)		491	100	(214)		377
Health fund			(2)				(5)
Other designated reserves		78	(69)					(9)
Genera(funds
Retained (deficit)/surplus	(3,137)	16206	(15,816)		(2.747)	20,177	(16,723)		707
Pension reserve	(15,935)		12,258	3.677
	(18,560)	16,379	(3,738)	3,677	(2,242)	20277	(16,942)	(9)	1,084

Restricted funds
			At 31	Incoming	Utilised	At 31	Incoming	Utilised	Transfer	At 31
			March	Rmowces		March	Resources		between	March
			2021			2022			reserves	2023
			6000	5000	6000	5000	$000	8000		$000
Group
iceShetfield capital grant			5,945		(185)	5,760		(185)		5,575
Shefiield City Hall renovation		grant	3,177		(92)	3.085		(92)		2,993
EISSgrant			18.664		(500)	18.164		(871)		17,293
NCSEM at Concord Sports Centre			319		(80)	239		(80)		159
Essential maintenance	giant		1.3$1	3,943	(1,388)	3,936	2,124	(2/89)		3.671
EISSSport hall grant			1,182		(39)	1,143		(39)		1.104
Other grants			20		(5)	15	120	(93)		51
			30,688	3.943	(2289)	32,342	2,244	(3,749)	9	30,$46
Company
IceSheffie)d capital grant			5,945		(185)	5.760		(185)		5 v)75
Shelfield City Hall renovation		giant	3,177		(92)	3.085		(92)		2,993
NCSEM at Concnrd Sports Centre			319		(80)	239		(80)		159
Essential mamtenance	grant		444	1,909	(305)	2,048	1,798	(1,612)		2,234
EJSSSports hall grunt			45		(3)	42		(3)		39
Other grants							120	($9)	9	40
			9,930	1,909	(665)	11,174	1,918	(2,061)	9	11,040

ategory, w	as a	s follows:
				Group		Company
			2023		2022	2023	2022
			Number		Number	Number	Number
Leisure			394		304	394	304
Operations	and	maintenance	159		125	159	125
Administration			131		121	131	121
Catering			281		157	281	157
			965		707	965	707

				Company
	2023	2022	2023	2022
	8000	f000	8000	8000
Wages and salaries	12,200	9,814	12,200	9,814
Social security costs	846	652	846	660
Other pension costs	643	(12,300)	643	(12,0001
Redundancy costs	27	12	27	I
	13,716	(1,822)	13,716	(1,525)

he number of employees in the group whose ollows;	emoluments amounted to over f60,000 in t	he year was as
f60,001 —670,000	2023	2022 4
f70,001 - 880,000		I
680,001 - f90,000
8110,001 —6120,000

Note	s to the financial statements (continuedj
9	Tax
	Analysis of charge iri year		Group
		2023		2022
		5000		f000
	Current tax
	Adjustments in respect ofprior periods	(35)
	Total current tax charge for the year	(35)
	Deferred tax
	Origination and reversal oftiming differences			(396)
	Total tax credit for the year	(35)		(396)

United Kingdom, explained below;	which, for the period ended 31 March 2	023, was 19%(2022t 19%2 The d	ifferences are
		2023	2022
		5000	fOOO
Net incoming resources before tax		2,498	14,079
Current tax at 19%(2022i l9%1		475	2,675
Non deductible and	non taxable items	(455)	(3,032)
Adjustments relating	to prior periods	(35)	(396)
Losses util ised		(247)
Depmciation in excess ofcapital allowances		227	199
Tax iossm			158
Total tax credit for	the year	(35)	(396)

egative goodwill
	0000
Cost
At beginning and end ofyear	(8,7411
Impairment lesseslamertisatien
At beginning ofyear	2,168
Charge for year	205
At end ofyear	2,373
Carrying amount
At end ofyear	(6,368)
At beginning ofyear	(6,573)

Intangible Group	assets - software
		Total
		0000
Cost
At beginning	ofyear	47
At end ofyear		47
Amerlisarien
At beginning	ofyear	21
Charge for year		9
At end ofyear		30
Closing net	beak amount
At end ofyear		17
At beginning	ofyear	26

11	Intangible	assets —software
	Company
						Total
						OOOO
	Cost
	At beginning	ofyear				45
	At end ofyear					45
	Autorr(sation
	At beginning	ofyear				19
	Charge for year
	At end ofyear
	Closing net book amoant
	At end ofyear					17
	At beginning	ofyear				26
12	Tangible fixed assets
	Group		Leasehold	Fixtures,	Assets
			land and	fittings and	under
			buildings %000	equipment f000	construction 5000	Total KOOO
	Cost
	At beginning	ofyear	173,740	27,079	342	201,161
	Additions			304	1,741	2,045
	DisposaLs			(57)		(57)
	Transfers			1,408	(1,408)
	At end ofyear		173,740	28,734	675	203,149
	Depreciation
	At beginning	ofyear	31,296	17,879		49,175
	Charge for year		1.140	3,554		4,694
	Disposals			(57)		(57)
	At end ofyear		32,436	21,376		53,812
	Net book rulue
	At end ofyear		141,304	7&358	675	149337
	At beginning	ofyear	142,444	9,200	342	151,986

Company	Leasehold	Fixtures,
	land and	fittings and	Assets Under
	buildings	equipment	Construction	Total
	5000	g000	OOOO	%000
Cost
At beginning ofyear	141,439	10,322	319	152,080
Additions		279	1,766	2,045
Disposals		(5)		(5)
Transfers		1,155	(1,155)
Cn'oup Transfers			(253)	(253)
At end ofyear	141,439	11,751	677	153,867
Depreciation
At beginning ofyear	20,986	5,812		26,798
Charge for year	449	2,028		2,477
Disposals		(5)		(5)
At end ofyear	21,435	7,835		29,270
Net book value
At end ofyear	120,004	3,916	677	124,597
At beginning ofyear	120,453	4,510	319	125,282

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
	8000	8000
2023
Net hook value	355	355
Depreciation	i83	183
2022
Net book value	806	806
Depreciation	224	224

On 31 March	2015	the charity forgave,	the charity forgave,	the charity forgave,	by way ofa capital contribution,	by way ofa capital contribution,	monies	owed	by its subsidiary	by its subsidiary
Sheffield International		Venues Limited. This capital contribution gave				rise to the capitalisation ofthe historic
inter-company	debtor ofK7,578,000.			The investment is reviewed for		impairment		annually, by considering
the net present	value	offuture cash flows ofSheffield International Venues					Limited over aperiod to March
2024. The investment		was fully impaired			in 2019. This isreassessed annually, and			the previous		impairment
is still deemed	appropriate.
On I April 2019,all staffofSheffield				International Venues Limited were transferred				under	the	provisions of
TUPE to Sheffield City Trust. At the				same time, the assets and liabilities			ofthe South Yorkshire Pension
Authority scheme were also			transferred		and as a result of this, Sheffield		City Trust took on the historic
pension liability by		way of	a capital	contribution. The investment		was	fully impaired		in 2020. This is
reassessed annually,		and the	previous	impairment is still deemed appropriate.
The charity holds investments			off100	relating to shares held in subsidiaries.
The entities in	which	the charity holds		beneficial interests are as follows:
					Principal		Country	of		Percentage
					activity		registration			ofordinary
										shares held
Subsidiary undertakings
SheBicld International		Vennes	Limited		Management ofsporting and		England	and		100
					entertainment facilities and		Wales
					provision ofcatering and
					conferencing services
7 Hills 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- Sheflield (EISS)
SIV Enterprises	Limited				Management ofsporting snd		England	and		Ippsss
					rtxseational facilities. acatering		Wslm
					facility and the provision of
					consultancy services

tocks
				Group		Company
			2023		2022	2023	2022
			5000		5000	8000	5000
Goods forresale			233		216
ebtors
				Group			Company
			2023		2022	2023	2022
			%000		f000	8000	OOOO
Trade debtors			883		434	566	251
Other debtors			957		497	3
Prqiayments		and acnued income	33,326		33,390	33&155	33,125
Amounts	owed by gmup undertakings					2,730
Corporation		tax			35
			35,166		34,356	36,454	33,376

reditors:	amounts falling due after mor	e than one year
			Group			Company
		2023		2022	2023	2022
		8000		6000	8000	6000
Bank loans		59		259	59	259
Other loans		3,513		3,513	3&513	3,513
Obligations	under finance leases	51		97	51	97
Bonds				17,600		17,600
Shetfreld City Council		122&817		I06,258	122,817	106,258
		126,440		127,727	126,440	127,727

he maturity ofthe bank and other loans i	s due as follows:
		Group			Company
	2023		2022	2023	2022
	f000		f000	f000	6000
Within one year	200		232	200	232
In the second to fifth years	3,572		3,772	3,572	3,772
	3772		4,004	3772	4,004

e bonds are stated net ofunamortised issue cost f795,000.	s off873,000 an	d gross	ofthe unam	ortised issue prem	ium
The maturities ofthe bonds are as follows:	2023	Group	2022	Company 2023	2022
	f000		f000	fOOO	f000
Within one year	17,604		16,559	17,604	16,559
In the second io fifth years			17,600		17,600
	17,604		34,159	17,604	34,159

The maturities	of obligations
follows:
		2023	2022	2023	2022
		i,000	f.000	f000	f000
Within one year		199	217	199	217
In the second to	fiflh years	51	97	51	97
		250	314	250	314

		Accelerated tax	Other timing	2023	2022
		depreciation f000	differences f000	Total %000	Total f000
At I April	2021	396	(847)	(451)	137
Movement	in year	(259)	(314)	(573)	(588)
At 31 March 2022 & I April 2022		137	(1,161)	(1,024)	(451)
Movement	in year	(105)	822	717	(573)
At 31March 2023		32	(339)	(307)	(1,024)
Recognised
Unrecognised		32	(339)	(307)	(1,024)
		32	(339)	(307)	(1,024)

Analysis ofgroup	net	assets	betwee	n funds
					2023			2022
				Unrestricted			Unrestricted
				(designated			(designated
				and	Restricted	Total	and	Rmtricted	Total
				general)			general)
				f000	8000	8000	f000	f000	6000
Tangible fixed assets				118,491	30,846	149337	119,644	32,342	151,986
Intangible Assets				17		17	26		26
Net current assetc				16,432		16,432	12,618		12,618
Liabilities falling	duc	after	more	(126,440)		(126,440)	(127,727)		(127,727)
than one year
Provision for liabilities		and charges		(115)		(115)
Negative goodwill				(6,368)		(6,368)	(6,573)		(6,573)
Net assets as at 31	March 2023			2,017	30,846	32,863	(2,012)	32,342	30,330

nnual co	mmitments under non-cancellable	operating lease	s are as f	ollows:
			Group		Company
		2023			2023	2022
		ROOO			fOOO	8000
Operating	leases which expire:
Within	one year	119		173	119	173
In the	second to fifth years inclusive	272		326	272	326
More	than five years	428		493	428	493
		819		992	819	992

Moveme	nts i	n present value ofdefined benefit obligati	on
			2023	2022
			Total	Total
			OOOO	8000
At beginning		ofyear		64,505
Current	service cost			79I
Interest	cost			1,365
Contributions		by matchers		133
Benefits	paid			(248)
Settlements				(66,546)
At end	ofyear

Movements in	fa	ir v	alue ofplan assets
				2023	2022
				8000	8000
At beginning	of	year			48,570
Expected return		on plan assets			1,023
Actuarial gains					3,677
Contributions	by employer				434
Contributions	by members				133
Benefits paid					(248)
Settlements					(53,589)
At end ofyear
Expense recognisedin			the statement offinancial acti vities

	2023	2022
	ROOO	6000
Current service cost		79)
Liabilities extinguished on settlement		(66,546)
Assets distributed on settlement		53.589
Interest on detiucd benefit pension plan obligation		1,365
Expected return on defined benefit pension plan assets		(1,023)
Total		(11,824)

	2023	2022
	OOOO	5000
Statycosts		(12.166)
Other tinance (incomeycosts		342
Total		(I 1,824)

he fair value	ofthe plan assets and the return on those assets w	ere as follows:
		2023	2022
		f000	f000
Equities
Government	debt
Corporate bonds
Property
Other
Total
Actual return on plan assets			4,700

South Yorkshire pension scheme	2023	2022
Discountrate		2.7
Expected rate ofrerum on plan assets		2.7
Rate ofincrease in salaries		4.2
Rate ofinflation		3.7
Rate ofincrease in pensions		3.2

Balance sheet	Balance sheet	Balance sheet
South Yorkshire pension			scheme	2023	2022	2021	2020	2019	2018
				%000	f000	f000	f000	f000	f000
Present value ofscheme liabilities						(64,464)	(53,737)	(56,576)	(51,700)
Fair value	ofscheme assets					48,570	40.688	43,435	41,748
Present value ofunfunded			defined
benefit obligations						(41)	(40)	(54)	(55)
Deficit						(15,935)	(13,089)	(13,195)	(10,007)
Experience	adjustments
				2023	2022	2021	2020	2019	2018
Experience	losses/(gains)	on scheme
liabilities	as a percentage	ofscheme
liabilities						14.1	(8.4)	6.1	(7.1)
Experience	gains/(losses)	on scheme
assets as	a percentage ofscheme assets					14.2	(8.7)	3.0	1.5

ovements in	present value ofdefined benefit obligat	ion
		2023	2022
		8000	f000
At beginning	ofyear		64,505
Current service cost			791
Interest cost			1,365
Contributions	by members		133
Benefits paid			(248)
Settlements			(66,546)
At end ofyear

ovements in	fa	ir value ofplan assets
			2023	2022
			f000	f000
At beginning	of	year		48.570
Expected return		on plan assets		1,023
Actuarial gains				3,677
Contributions	by employer			434
Contributions	by members			133
Benefits paid				(248)
Settlements				(53,589)
At end ofyear

Note	s to the financial statement	s (continued)
22	Pension schemes (continued)
	Expense recognised in the statement offinancial activities
			2023	2022
			f000	8000
	Current service cost			791
	Liabilities extinguished on settlement			(66,546)
	Assets distributed om settlement			53.589
	Interest on defined benefit pension	plan obligation		1,365
	Expected return on detined benefit	pension plan assets		(1,023)
	Total			(11,824)

			2023	2022
			SOOO	f000
Staff	costs			(12,166)
Other	finance	income		342
Total				(11,824)

he fair va	lue	ofthe plan assets and the return on tho	se assets were as follows:
			2023	2022
			Fair value	Fair value
			f000	EOOO
Equities
Government	debt
Corporate	bonds
Property
Other
Total
Actual return		on plan assets		4,700