31 Mar 2022 £’000 31 Mar 2021 £’000 At 1 April 17,816 17,884 Pension costs 338 344 Contributions paid (2,961) (5,917) Recognition of actuarial (gains)/losses (15,704) 5,509 Exchange difference (7) (4) At 31 March (518) 17,816 The UK scheme had a pension surplus at the year-end which has been recognised as a pension asset in the balance sheet. The split for balance sheet purposes is shown below. Pension asset on UK Scheme in the balance sheet (1,110) Pension deficit on Ireland Scheme in the balance sheet 592 Net (asset)/liability at 31 March (518) (e) Pension benefits Amounts recognised in the balance sheet to reflect funded status Present value of funded obligations 160,887Fair_value_of_plan_assets(149,413)_(143,071)Net_(asset)/liability_in_the_balance_sheet_at_31_March(518)'>148,895 160,887 Fair value of plan assets (149,413) (143,071) Net (asset)/liability in the balance sheet at 31 March (518) 17,816 (f) Change in benefit obligation Present value of benefit obligation at 1 April 160,887 142,263 Interest on obligation 3,312 3,362 Benefits paid (2,803) (4,186) Past service costs – 15 Gain from change in demographic assumptions (918) (2,220) (Gain)/loss from change in financial assumptions (12,543) 23,097 Loss/(gain) from experience 1,004 (1,302) Exchange difference (44) (142) Present value of benefit obligation at 31 March 148,895 160,887 Deferred pensioners 112,611 126,501 Pensioners 36,284 34,386 Present value of benefit obligation at 31 March 148,895 160,887 Amounts recognised in the balance sheet for pensions are predominantly non-current and are reported as non-current liabilities and/or non-current assets as applicable
Association of Chartered Certified Accountants Notes to the Financial Statements for the year ended 31 March 2022
