TRUSTEES' REPORT AND ACCOUNTS 2024
82
Notes to the accounts continued
YEAR ENDED 31 DECEMBER 2024
Bid values as at
31 Dec 2024
£'000 % of the fair value
of the total plan
assets as at
31 Dec 2024
Bid values as at
31 Dec 2023
£'000 % of the fair value
of the total plan
assets as at
31 Dec 2023
26. Pensions continued
The current asset split is as follows:
Global equities 28,778 16% 14,797 7%
LDI funds 91,059 49% 91,630 44%
Diversified credit 15,632 8% 20,576 10%
Private multi asset 3,171 2% 35,624 17%
Multi asset funds - 0% 16,432 8%
Currency hedging - 0% 46 0%
Hedge funds 1,837 1% - -
Property 10 0% 14,202 7%
Cash 9,707 5% 13,830 7%
Other - insurance linked securities 621 0% - -
Other - commodities 1,333 1% - -
Other - structured equity 32,410 18% - -
Total assets 184,558 100% 207,137 100%
At 31 Dec 2024
£'000
At 31 Dec 2023
£'000
Balance sheet
Fair value of assets 184,558 207,137
Present value of funded obligations (199,765) (225,856)
Deficit in scheme (15,207) (18,719)
Net defined benefit liability (15,207) (18,719)
Period to
31 Dec 2024
£'000
Period to
31 Dec 2023
£'000
Amount recognised in the SOFA
Interest on liabilities 10,182 10,272
Interest on assets (9,367) (9,800)
Total charge to SOFA 815 472