Caledonian Maritime Assets Ltd Annual Report & Accounts 2014 Aithisg Bhliadhnail & Cunntasan 2014
Changes in the present value of the defined benefit liabilities
At 1 April Current service cost – Caledonian Maritime Assets Ltd Current service cost - Others Employee contributions Interest cost Actuarial losses/(gains) arising from changes in financial assumptions Actuarial (gains) arising from experience Benefits paid
124,350 150 8,127 1,780 5,986
2013 (£’000) Re-calculated 114,298 143 7,238 1,699 5,743
5,897
(208)
(2,807) (3,971)
(1,360) (3,203)
At 31 March
139,512
124,350
At 1 April Interest income on assets Re-measurement gains Employer contributions Employee contributions Benefits paid
101,225 4,961 636 10,961 1,780 (3,971)
84,979 4,327 5,165 8,258 1,699 (3,203)
At 31 March
115,592
101,225
2014 (%)
2013 (%)
58.6 20.0 8.8 6.1 6.5
61.9 17.4 6.4 14.3
2014 (£’000)
Changes in the fair value of the scheme assets
The fair value of scheme assets as a percentage of total scheme assets and the return on those assets were: Equities LDI Bonds Property Other
An amended IAS19 was issued on 16 June 2011. The change to the standard means that in the year of adoption of the revised standard the expected return on assets will be calculated at the discount rate instead of at an expected return rate based on actual plan assets held. The company has adopted this change this financial year and as a consequence the prior year’s figures have been re-calculated on this amended basis. The impact of this change on prior year’s figures is shown at note 25.
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