30. Pension costs (continued)
The following amounts have been recognised in the financial statements for the year ended 31 December 2023 under the
requirements of FRS 102:
2023 2022
£'000 £'000
Interest income 1,796 866
Interest on liabilities (1,326) (866)
Past service cost - -
Net credit to the Statement of Financial Activities 470 Unrecognisable
credit due to closure of the scheme to future accrual (470) -
Amount credited to the Statement of Financial Activities - -
2023 2022
£'000 £'000
Actual return on assets less interest 681 (21,118)
Actuarial losses on scheme liabilities (1,638) 20,284
Limit on recognition of assets less interest 957 834
Amount recognised in the Statement of Financial Activities - -
2023 2022
Changes in the fair value of the scheme assets are as follows: £'000 £'000
Fair value of scheme assets at 1 January 37,969 59,276
Interest income 1,796 866
Contributions - Benefits
paid (1,108) (1,055)
Actual return on assets less interest 681 (21,118)
Fair value of scheme assets at 31 December 39,338 37,969
2023 2022
Changes in the present value of the scheme liabilities are as follows: £'000 £'000
Present value of scheme liabilities at 1 January 28,168 48,641
Past service cost - Interest
on liabilities 1,326 866
Benefits paid (1,108) (1,055)
Actuarial loss / (gains) on scheme liabilities 1,638 (20,284)
Present value of scheme liabilities at 31 December 30,024 28,168
120
Environmental, social
and governance review
Financial review
Strategic report
Overview
Financial statements
Thank you