Executive Director foreword to the Annual Report for the year ended 31 March 2021
Business model
LGSS Law Ltd rebranded itself in September 2021 and changed its name to Pathfinder Legal Services Ltd. With the disaggregation of LGSS (the previous shared service owned by Cambridgeshire County Council and Northamptonshire County Council) and the local government reorganisation of Northamptonshire County Council and the 7 district and borough councils in Northamptonshire (resulting in two new unitary authorities – North Northamptonshire Council and West Northamptonshire Council), the firm saw this as a great opportunity to rebrand itself.
Despite the change of name, the business model of the firm remains the same. Pathfinder Legal Services Ltd provides expert legal advice tailored to the public and not-for-profit sectors. The company aims to charge lower legal fees than other private sector options and to recruit high-quality lawyers by providing a rewarding work environment (in terms of quality of work, operational efficiencies, working benefits and remuneration). Owned by four local authorities, Pathfinder Legal Services Ltd aims to provide cost-effectiveness to its clients through increased specialisation, capacity and economies of scale; enabling high productivity and greater employee skills.
The challenge
Local authority budgets continue to be strained, with the pandemic and the current cost of living crisis adding to the pressure on local authorities and public sector bodies to make savings. In addition, the employment market has been difficult to navigate over recent years, especially in the local government and legal sectors, meaning that local authorities are competing for a limited pool of talent at a higher cost than ever before. As a result authorities are seeking to derive better value for money from their legal spend; better legal services for the same or lower cost, and to consider new ways of working. The model developed by Pathfinder Legal Services Ltd draws on elements of a commercial model in its performance management and business-like culture/processes, but retains key elements of an in-house legal team, such as the client ownership and control. The ability to call on Pathfinder Legal Service Ltd’s services on an as-needed basis provides comfort to public sector organisations who may sometimes need additional legal capacity but cannot justify further permanent or locum staff.
Management and governance
2021/22 has seen a change to its shareholder make up, with Northamptonshire County Council’s shares being devolved to North Northamptonshire Council and West Northamptonshire Council, and the introduction of a new non-executive director, Mark Dickenson. As a result of the global pandemic the firm continued to hold virtual board meetings, and is now considering a mixture of in-person and virtual board meetings going forwards.
Principal risks and uncertainties
Covid - the pandemic continued to be a key risk for the firm in 2021/22. With the uncertainty on how the coronavirus was going to spread and evolve, the firm continued to follow government guidance on working from home and retained social distancing within the offices. The firm started to return individuals to the office in November 2021 on a one-day-a-week basis, seeing individuals return with colleagues within the same team. In addition, the Operations team returned at a higher frequency to provide the administrative support required by fee earners. This return to the office has been welcomed by the teams and continues in place. The ability to support staff to build close working relationships with their colleagues, as well as addressing mental health and wellbeing strains brought about by the pandemic, has allowed the firm to be flexible in its approach.
Local Government Reform – The creation of North Northamptonshire Council, West Northamptonshire Council and the Northamptonshire Children’s Trust has been challenging for staff, even more so with all organisations working remotely. System changes have had to take place to reflect the new clients, we have had to work closely with each organisation to ensure that the reporting and invoicing arrangements are suitable for their individual needs, as well as building relationships with individuals within organisations undergoing their own significant changes. We continue to work closely with all three organisations to develop and build our relationship together.
Employment Challenges – As the country has moved out of the pandemic there has been a significant impact on the employment market. Individuals have chosen to retire, move jobs or (with the increase in remote working) take on roles which would not normally have been possible due to geographical restrictions. The firm, along with many local authority and private sector legal teams, has faced issues with recruitment and retention of staff, with the buoyant employment market seeing competition for a smaller number of staff and a lack of experienced individuals. The firm is keen to continue supporting its staff to grow and develop, taking on more junior staff and providing training and support, as well as offering more experienced staff opportunities to develop into management, training or specialist legal work.
Revenue and costs: the company produces detailed budgets and reviews results against budget on a regular basis.
Operational risks: the company maintains and regularly reviews a risk register.
Compliance with regulation and standards: the company reviews compliance with regulations on a regular basis, investigating and taking corrective action as needed. The company is regulated by the Solicitors Regulation Authority and holds the Law Society Lexcel accreditation.
Client and supplier management: the company has procedures in place to manage relationships with key clients and suppliers.
People management: the company has extensive people management procedures, covering recruitment, retention and development.
Liquidity risk: The company reviews cash balances on a daily basis and produces regular cash flow analyses.
Growth
The firm continues to deal with work connected to the pandemic (either delayed due to the lockdown and changes in working practices or directly resulting from the pandemic) and has found cases becoming more complex in nature. This has seen the firm increase the number of staff it employs, review its working practices and, as a result, invest in its staff in relation to training and development. With the reintroduction of in-person court hearings, the firm is developing its in-house advocacy offering and, with the geographical spread of employees, has continued to take on files for external clients elsewhere in the country with the ability to provide advocates. The firm has seen instructions from new external clients but also, for the first time, has had to decline instructions from external organisations due to working at full capacity. The firm continues to recruit to enable it to take on this external work and hopes to continue to develop its client base through 2022/23.
Financial results
2021/22 has seen revenue increase from £9,683,913 to £10,305,892 and report a profit after tax of £304,996 compared to the previous year profit of £868,092. The firm expects to build on the changes that it has made and see further growth in 2022/23. After the exceptional and turbulent 2020/21 financial year dominated by the Covid pandemic, 2021/22 has been equally challenging in different circumstances and has seen the company revert to a more expected and sustainable level of profitability. It has also achieved a position of cumulative retained profit.
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 March 2022.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The company's principal financial instruments include debt and loans from participating interests, the main purpose of which is to raise finance for the company's operations. The company has various other financial assets and liabilities such as trade receivables and trade payables arising directly from its operations.
The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.
Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.
Our overarching objective is to deliver more financial and other benefits to shareholders and clients through exploitation of increased economies of scale and any other mechanism that we find to release benefits for our owners and our clients.
The auditor, Ensors Accountants LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Basis for opinion
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit :
the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements ; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements , the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements .
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .
Our audit was designed to include tests of detail together with an assessment of the control environment to enable us to obtain reasonable assurance about whether the financial statements are free from material misstatement due to fraud.
In planning and designing our audit procedures we assessed the risks of material misstatement due to fraud. Our assessment concluded that the areas of highest risk are non-compliance with laws and regulations and management override of controls.
We obtained an understanding of the legal and regulatory frameworks that the company operates in through discussions with management, and from our commercial knowledge and experience of the sector in which the company operates. This enabled us to identify the key laws and regulations applicable to the company. We focussed on specific laws and regulations which we considered may have a direct impact on the financial statements including the Companies Act 2006, taxation legislation, data protection, anti-bribery and employment laws.
All team members were informed of the relevant laws and regulations and potential fraud risks at the planning stage and reminded to remain alert to any indications of fraud or non-compliance.
In addressing the risk of fraud through management override of controls we have tested the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are indicative of potential bias and evaluating the rationale of any significant transactions that appear unusual or outside the normal course of business.
Material misstatements that arise due to fraud can be harder to detect then those that arise from error as they are likely in involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
The profit and loss account has been prepared on the basis that all operations are continuing operations.
Pathfinder Legal Services Limited (formerly known as LGSS Law Limited) is a private company limited by shares incorporated in England and Wales . The registered office is Floor 3, Pathfinder House, St Marys Street, Huntingdon, PE29 3TN. The company registration number is 09067468.
The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors , bank loans, loans from participating interests and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Bad debt provision
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the aging profile of debtors, whether covered by insurance and historical experience.
Depreciation
The company estimates the rates of depreciation used to write down the different classes of assets the company owns. This is based on prior experience of asset lives while taking into account any additional circumstances. Once fully depreciated over its useful life the asset should be stated at its residual value or £nil if there is no residual value.
Revenue and accrued income
Revenue is recognised at the point of billing or for matters that have not yet been billed, where there is a right to consideration. Where there is a right to consideration, income is accrued at the carrying value of time recorded less deductions for recovery rate and bad debt provision.
Final salary pension scheme indemnity
The company benefits from indemnities against any pension scheme deficits arising from their participation in various local government pension schemes which are of a final salary nature. These indemnities are provided by various local authorities and arise either from the terms of the company’s admission agreement into the pension scheme or from specific indemnities provided by the local authorities to the company. T he nature of these arrangements are such that the company is exposed to a credit risk in the event that any particular local authority is unable to honour the indemnity provided. Due to the nature of the guarantors the directors do not consider that this risk is significant.
All of the company's turnover arises within the United Kingdom.
The average monthly number of persons (including directors) employed by the company during the year was:
Their aggregate remuneration comprised:
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
The company has benefitted from loan facilities with West Northamptonshire Council, North Northamptonshire Council, Cambridgeshire County Council and Central Bedfordshire Council at 3.75% pa.
The total available facility is £1,050,000, the full amount of which has been drawn down.
The provisions for liabilities relate to the pension fund liability of £7,448,000 (2021: £9,277,000).
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
The deferred tax asset set out above is expected to reverse within 12 months and relates to short term timing differences and fixed asset timing differences.
The holders of ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company.
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The remuneration of key management personnel is as follows.
The related parties involved include the councils who jointly operate Pathfinder Legal Services Limited; Cambridgeshire County Council, North Northamptonshire Council, West Northamptonshire Council and Central Bedfordshire Council. The transactions were as follows:
During the year, the total sales amounted to £9,867,913 (2021: £9,072,838) At the year end, the total debtors amounted to £645,373 (2021: £433,352).
During the year, the total purchases amounted to £572,519 (2021: £525,622) which included rent of £222,345 (2021: £154,075). At the year end, total creditors amounted to £339,152 (2021: £389,747).
During the year, the company incurred recharges from its shareholders totalling £295,950 (2021: £294,282). The recharges from the individual shareholders amounted to £257,687 from Cambridgeshire County Council and £38,263 from West Northamptonshire Council.
The Company has unsecured loan facilities from each of its owners: Cambridgeshire County Council provide £325,000, West Northamptonshire Council provide £237,500, North Northamptonshire Council provide £237,500 and Central Bedfordshire Council provide £250,000.
Retirement Benefit Schemes
Pathfinder Legal Services Limited staff are entitled to join the Local Government Pension Scheme (LGPS) which is a defined benefit plan.
Former employees of Northamptonshire County Council are members of the Northamptonshire LGPS. Former employees of the Central Bedfordshire Council are members of the Bedfordshire LGPS. Former employees of Cambridgeshire County Council are members of the Cambridgeshire County Council LGPS. All new employees of the firm are joined to the pension pot connected to their base office.
The Net Pension Liability is guaranteed by the respective Local Authorities and not the company.
Details of the funds and their treatments in these financial statements are as follows:
Cambridgeshire Pension Fund
The major assumptions used by the actuary to calculate scheme liabilities under FRS 102 Section 28 “Employee Benefits” are best estimates chosen from a range of possible actuarial assumptions which, due to the timescales covered, may not necessarily be borne out in practice. The key assumptions (expressed as weighted averages) at the year end were as follows:
|
2022 |
2021
|
Discount rate |
2.75% |
2.05% |
Salary increase rate |
3.65% |
3.3% |
Pension increase rate |
3.15% |
2.8% |
The last full actuarial valuation was performed on 31 March 2022.
In valuing the liabilities of the pension fund at 31 March 2022, mortality assumptions have been made as indicated below.
The assumptions relating to longevity underlying the pension liabilities at the balance sheet date are based on standard actuarial mortality tables and include an allowance for future improvements in longevity. The assumptions are equivalent to expecting a 65 year old to live for a number of years as follows:
Current pensioner aged 65: 22.0 years (male), 24.2 years (female)
Future retiree upon reaching 65: 22.9 years (male), 26.0 years (female)
Amounts recognised in the profit and loss account |
2022 £’000 |
2021 £’000
|
Current service cost |
(584) |
(674) |
Net interest on defined benefit liability |
(291) |
(57) |
Net interest on local authority guarantee |
291 |
57 |
|
(584) |
(674) |
Amounts taken to other comprehensive income |
2022 £’000 |
2021 £’000
|
Return on scheme assets excluding interest income |
584 |
1,462 |
Actuarial changes related to pension scheme |
1,362 |
(3,708) |
Actuarial changes related to local authority guarantee |
(1,946) |
2,246 |
Actuarial loss / (gain) |
- |
- |
The amounts included in the balance sheet arising from the company’s obligations in respect of this defined benefit pension plan are as follows:
|
2022 £’000 |
2021 £’000
|
Present value of defined benefit obligations |
(13,751) |
(13,524) |
Fair value of plan assets |
9,926 |
8,566 |
Fair value of local authority guarantee |
3,825 |
4,958 |
|
- |
- |
Movement in the present value of defined benefit obligations
|
2022 £’000 |
2021 £’000
|
Liability at 1 April |
(13,524) |
(8,768) |
Current service cost |
(1,224) |
(674) |
Interest expense |
(291) |
(210) |
Changes in financial assumptions |
1,384 |
(3,787) |
Contributions by member |
(160) |
(147) |
Benefits paid |
64 |
62 |
Liability at 31 March |
(13,751) |
(13,524) |
The defined benefit obligations arise from plans which are wholly or partly funded.
Movement in the fair value of plan assets |
2022 £’000 |
2021 £’000
|
Fair value of assets at 1 April |
8,566 |
6,406 |
Interest income |
182 |
153 |
Return on plan assets (excluding amounts included in net interest) |
584 |
1,462 |
Contributions by employer |
498 |
460 |
Contributions by members |
160 |
147 |
Benefits paid |
(64) |
(62) |
At 31 March |
9,926 |
8,566 |
Northamptonshire Pension Fund
The major assumptions used by the actuary to calculate scheme liabilities under FRS 102 Section 28 “Employee Benefits” are best estimates chosen from a range of possible actuarial assumptions which, due to the timescales covered, may not necessarily be borne out in practice. The key assumptions (expressed as weighted averages) at the year end were as follows:
|
2022 |
2021
|
Discount rate |
2.75% |
2.05% |
Salary increase rate |
3.65% |
3.3% |
Pension increase rate |
3.15% |
2.8% |
The last full actuarial valuation was performed on 31 March 2022.
In valuing the liabilities of the pension fund at 31 March 2022, mortality assumptions have been made as indicated below.
The assumptions relating to longevity underlying the pension liabilities at the balance sheet date are based on standard actuarial mortality tables and include an allowance for future improvements in longevity. The assumptions are equivalent to expecting a 65 year old to live for a number of years as follows:
Current pensioner aged 65: 21.7 years (male), 24.0 years (female)
Future retiree upon reaching 65: 22.7 years (male), 25.8 years (female)
Amounts recognised in the profit and loss account |
2022 £’000 |
2021 £’000
|
Current service cost |
(837) |
(435) |
Net interest on defined benefit liability |
(37) |
(10) |
Net interest on local authority guarantee |
37 |
10 |
|
(837) |
(435) |
Amounts taken to other comprehensive income |
2022 £’000 |
2021 £’000
|
Return on scheme assets excluding interest income |
278 |
986 |
Actuarial changes related to pension scheme |
750 |
(1,992) |
Actuarial changes related to local authority guarantee |
(1,028) |
1,006 |
Actuarial loss / (gain) |
- |
- |
The amounts included in the balance sheet arising from the company’s obligations in respect of this defined benefit pension plan are as follows:
|
2022 £’000 |
2021 £’000
|
Present value of defined benefit obligations |
(7,211) |
(6,885) |
Fair value of plan assets |
6,195 |
5,311 |
Fair value of local authority guarantee |
1,016 |
1,574 |
|
- |
- |
Movement in the present value of defined benefit obligations
|
2022 £’000 |
2021 £’000
|
Liability at 1 April |
(6,885) |
(4,228) |
Current service cost |
(837) |
(435) |
Interest expense |
(151) |
(103) |
Changes in financial assumptions |
766 |
(2,043) |
Contributions by member |
(112) |
(98) |
Benefits paid |
8 |
22 |
Liability at 31 March |
(7,211) |
(6,885) |
The defined benefit obligations arise from plans which are wholly or partly funded.
Movement in the fair value of plan assets |
2022 £’000 |
2021 £’000
|
Fair value of assets at 1 April |
5,311 |
3,824 |
Interest income |
114 |
93 |
Return on plan assets (excluding amounts included in net interest) |
278 |
986 |
Contributions by employer |
388 |
332 |
Contributions by members |
112 |
98 |
Benefits paid |
(8) |
(22) |
At 31 March |
6,195 |
5,311 |
Central Bedfordshire Pension Fund
The major assumptions used by the actuary to calculate scheme liabilities under FRS 102 Section 28 “Employee Benefits” are best estimates chosen from a range of possible actuarial assumptions which, due to the timescales covered, may not necessarily be borne out in practice. The key assumptions (expressed as weighted averages) at the year end were as follows:
|
2022 |
2021
|
Discount rate |
2.60% |
2.05% |
Salary increase rate |
4.15% |
3.85% |
Pension increase rate |
3.15% |
2.85% |
The last full actuarial valuation was performed on 31 March 2022.
In valuing the liabilities of the pension fund at 31 March 2022, mortality assumptions have been made as indicated below.
The assumptions relating to longevity underlying the pension liabilities at the balance sheet date are based on standard actuarial mortality tables and include an allowance for future improvements in longevity. The assumptions are equivalent to expecting a 65 year old to live for a number of years as follows:
Current pensioner aged 65: 22.0 years (male), 24.4 years (female)
Future retiree upon reaching 65: 22.9 years (male), 26.0 years (female)
Amounts recognised in the profit and loss account |
2022 £’000 |
2021 £’000
|
Current service cost |
(702) |
(297) |
Net interest on defined benefit liability |
(54) |
(26) |
Net interest on local authority guarantee |
54 |
26 |
|
(702) |
(297) |
Amounts taken to other comprehensive income |
2022 £’000 |
2021 £’000
|
Return on scheme assets excluding interest income |
191 |
490 |
Actuarial changes related to pension scheme |
466 |
(1,990) |
Actuarial changes related to local authority guarantee |
(657) |
1,500 |
Actuarial loss / (gain) |
- |
- |
The amounts included in the balance sheet arising from the company’s obligations in respect of this defined benefit pension plan are as follows:
|
2022 £’000 |
2021 £’000
|
Present value of defined benefit obligations |
(6,781) |
(6,483) |
Fair value of plan assets |
4,174 |
3,738 |
Fair value of local authority guarantee |
2,607 |
2,745 |
|
- |
- |
Movement in the present value of defined benefit obligations
|
2022 £’000 |
2021 £’000
|
Liability at 1 April |
(6,483) |
(4,348) |
Current service cost |
(700) |
(294) |
Interest expense |
(132) |
(100) |
Changes in financial assumptions |
453 |
(1,918) |
Contributions by member |
(86) |
(69) |
Benefits paid |
167 |
246 |
Liability at 31 March |
(6,781) |
(6,483) |
The defined benefit obligations arise from plans which are wholly or partly funded.
Movement in the fair value of plan assets |
2022 £’000 |
2021 £’000
|
Fair value of assets at 1 April |
3,738 |
3,156 |
Interest income |
78 |
74 |
Return on plan assets (excluding amounts included in net interest) |
191 |
490 |
Administration expenses |
(2) |
(3) |
Contributions by employer |
250 |
198 |
Contributions by members |
86 |
69 |
Benefits paid |
(239) |
(246) |
At 31 March |
4,174 |
3,738 |