Page 48

Notes to the financial statements 24

for the year ended 31 March 2012

Pension commitments (Continued)

Reconciliation of present value of scheme liabilities 31 March 2012 31 March 2011

1 April Current service cost Interest cost

£'000

£'000

4,679

4,841

77

104

257

259

9

Actuarial losses recognised in the year Benefits paid

(182)

31 March

4,840

20 (545) 4,679

Reconciliation of fair value of scheme assets 31 March 2012 31 March 2011

1 April Expected return on scheme assets Actuarial (losses) / gains recognised in the year Employers contributions Employee contributions Benefits paid Expenses paid

£'000

£'000

6,010

6,080

400

381

(368)

72

126

126

49

49

(182)

(545)

(167)

31 March

5,868

(153) 6,010

Scheme assets do not include any of Keepmoat Limited own financial instruments, or any property occupied by Keepmoat Limited. The expected return on scheme assets is determined by considering the expected returns available on the assets underlying the current investment policy. Expected yields on fixed asset interest investments are based on gross redemption yields as at the balance sheet date. Expected returns on equity investments reflect long-term real rate experienced in respective markets.

Analysis of amounts charged to operating profit:

Operating profit

Expenses paid Current service cost

46

2012

2011

£'000

£'000

167

153

77

104

244

257

Keepmoat Annual Report and Financial Statements 2012

Keepmoat plc Annual report and accounts 2012  
Keepmoat plc Annual report and accounts 2012  
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