Download full Annual Report and Accounts - Kingfisher

Kingfi sher plc
Annual Report
and Accounts
2009/10
Profi t and loss account
103
£ millions 2009/10 2008/09
Amounts charged to operating profi t
Current service cost 1 1
Amounts charged/(credited) to net fi nance costs
Interest on defi ned benefi t obligation 3 2
Expected return on pension scheme assets (3) (3)
Net interest return – (1)
Total charged to profi t and loss account 1 –
Balance sheet
£ millions 2009/10 2008/09
Present value of defi ned benefi t obligation (49) (41)
Fair value of scheme assets 44 40
Net pension liability (5) (1)
Movements in the present value of the defi ned benefi t obligation are as follows:
£ millions 2009/10 2008/09
Present value of defi ned benefi t obligation at beginning of year (41) (41)
Current service cost (1) (1)
Interest on defi ned benefi t obligation (3) (2)
Actuarial (losses)/gains (6) 1
Benefi ts paid 2 2
Present value of defi ned benefi t obligation at end of year (49) (41)
Movements in the fair value of scheme assets are as follows:
£ millions 2009/10 2008/09
Fair value of scheme assets at beginning of year 40 44
Expected return on pension scheme assets 3 3
Actuarial gains/(losses) 1 (7)
Contributions paid by employer 2 2
Benefi ts paid (2) (2)
Fair value of scheme assets at end of year 44 40
The fair value of scheme assets is analysed as follows:
2009/10 2008/09
£ millions % of total £ millions % of total
Equities 15 34% 13 33%
Bonds 26 59% 25 62%
Property 2 5% 2 5%
Other 1 2% – –
Total fair value of scheme assets 44 100% 40 100%
The pension scheme does not hold any assets other than those disclosed above.