SportEngland_AR_17_18

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15 Pension liabilities (continued) Changes in the fair value of the plan assets 2018 £’000 2017 £’000 Opening fair value of employer assets 61,972 51,023 Interest on assets 1,621 1,835 Return on assets less interest 869 8,510 Actuarial gains - 1,732 Administration expenses (89) (70) Contributions by members 140 150 Contributions by employer 639 1,020 Estimated benefits paid (2,691) (2,228) Closing fair value of employer assets 62,461 61,972 Sensitivity Analysis £’000 £’000 £’000 Adjustment to discount rate +0.1% 0.0% -0.1% Present value of total obligation 88,732 89,916 91,488 Projected service cost 619 634 650 Adjustment to long-term salary increase +0.1% 0.0% -0.1% Present value of total obligation 89,997 89,916 89,835 Projected service cost 634 634 634 Adjustment to pension increases and deferred +0.1% 0.0% -0.1% revaluation Present value of total obligation 91,140 89,916 88,447 Projected service cost 650 634 619 Adjustment to life expectancy assumption +1 year None -1 year Present value of total obligation 93,375 89,916 86,589 Projected service cost 654 634 614 Defined contribution Aviva GPPP Employer contributions for staff members of this scheme for the year ended 31 March 2018 were £504,000 (2017: £459,000). Auto enrolment was implemented from April 2014. There were no amounts outstanding or pre-paid at 31 March 2018 (2017: £nil). Contribution rates 1 Employee Employer 1% 2% 2 3% 3% 4% 5% 5% 8% 6.5% 11% 1 Contribution rates apply to all salary levels 2 Relates to auto enrolment The English Sports Council National Lottery Distribution Fund Accounts for the year ended 31 March 2018 114
16 Related party transactions Sport England is a non-departmental public body sponsored by the Department for Digital, Culture, Media and Sport (DCMS). DCMS is regarded as a related party and during the year Sport England had material transactions with DCMS. Sport England has two subsidiaries that are also regarded as related parties. There were material transactions with The Sports Council Trust Company during the year as well as with English Sports Development Trust Limited. Sport England has a conflict of interest policy and Board Members, Executive Directors and staff maintain publicly available registers of interests and declare any direct interests in grant applications made to Sport England and any direct commercial relationships. If any member has an interest in a grant application, they exclude themselves from the relevant grant appraisal, discussions and decision making processes. The following table details where Board and Committee Members, Executive Directors and principal decision makers declared a current or past interest relating to Sport England’s Exchequer funding. The related party transactions are in relation to: • Awards made during the year ended 31 March 2018. Decommitments are shown in brackets. • Awards unpaid at 31 March 2018 • Supplier transactions during the year ended 31 March 2018 • Unpaid supplier transactions at 31 March 2018. In a number of cases there may be relationships not disclosed in the tables below as a result of no awards being made to the third party, or supplier transactions with the third party, during the year. Relationship Awards made in 2017-18 £ Awards unpaid at 31 March 2018 Supplier transactions in 2017-18 Unpaid Supplier transactions at 31 March 2018 £ £ £ The Sports Council Trust Company Payable by Sport England - - 1,017,836 1,721 Department for Digital, Culture, Media and Sport Payable by Sport England - - 38,281 10,392 English Sports Development Trust Limited Payable by Sport England - 152,221 - - Nick Bitel Consultant to advisors of Rugby Football Union - 7,350,000 31,639 575 Consultant to advisors of England and Wales - 2,510,000 - - Cricket Board Board Member, London Legacy Development - 80,401 - Corporation Board Member, UK Sport - - 336 - Partner: Member, British Triathlon Federation 36,864 2,024,446 - - Professor Denise Barrett-Baxendale MBE Executive Chair, Everton in the Community 7,910 55,565 - - Director, Everton Football Club - - 1,998 - Professor Ian Cumming OBE Member, Amateur Swimming Association - 5,643,552 - - The English Sports Council National Lottery Distribution Fund Accounts for the year ended 31 March 2018 115
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ANNUAL REPORT & ACCOUNTS THE ENGLIS
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© Sport England Copyright 2018 The
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CHAIR’S FOREWORD WE HAVE MADE IMP
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performance report SPORT AND ACTIVI
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OUR STRATEGIC PRIORITIES ALMOST TWO
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FINANCIAL OVERVIEW Our income Durin
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performance analysis ACTIVE LIVES:
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PROTECTING PITCHES PLAYING FIELDS A
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COACHES, VOLUNTEERS AND THE PAID WO
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BECOMING AN ACTIVE NATION PEOPLE IN
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FINDING LOCAL SOLUTIONS TO STUBBORN
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KEEPING ACTIVE PEOPLE ACTIVE AND NU
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CLOSING THE GENDER GAP MAKING PHYSI
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LEADING THE WAY ON GOVERNANCE THE N
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LEADING THROUGH PARTNERSHIP PARTNER
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OPEN DATA: REMOVING BARRIERS MAKING
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ACCOUNTABILITY REPORT CONSOLIDATED
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WORKING EFFICIENTLY There are a num
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REMUNERATION AND STAFF REPORT The c
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executive directors’ remuneration
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LPFA PENSION BENEFITS Subject Accru
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EXIT PACKAGES 2018 (subject to audi
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We have introduced unconscious bias
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Board • Comprises a maximum of 14
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OUR BOARD Sport England has an expe
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OUR COMMITTEE STRUCTURE In addition
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Board scrutiny of risk management a
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Fraud risks There is a risk to gran
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The English Sports Council Grant-in
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The report of the Comptroller and A
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Matters on which I report by except
Page 64 and 65: Statement of financial position as
Page 66 and 67: Statement of changes in taxpayers
Page 68 and 69: Notes to the accounts 1 Statement o
Page 70 and 71: Depreciation Depreciation is provid
Page 72 and 73: 2 Grants received Group Council 201
Page 74 and 75: 5 Staff costs Group Council 2018 £
Page 76 and 77: 8 Operating costs Group Council 201
Page 78 and 79: 11 Property, plant and equipment—
Page 80 and 81: 12 Intangible assets Group Council
Page 82 and 83: 14 Inventory Inventory consisted of
Page 84 and 85: 19 Provisions Group Council 2018 £
Page 86 and 87: 22 Pension liabilities (continued)
Page 90 and 91: 23 Revaluation reserves - group 201
Page 92 and 93: 25 Related party transactions (cont
Page 94 and 95: The English Sports Council National
Page 96 and 97: The certificate and report of the C
Page 98 and 99: • the information given in Perfor
Page 100 and 101: Statement of financial position as
Page 102 and 103: Statement of changes in equity for
Page 104 and 105: All other income is accounted for o
Page 106 and 107: 2 National Lottery Distribution Fun
Page 108 and 109: 7 Sports development costs 2018 £
Page 110 and 111: 12 Trade and other payables 2018 £
Page 116 and 117: 16 Related party transactions (cont
Page 118: 18 Events after the reporting perio
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