28. INTANGIBLE FIXED ASSETS
Goodwill
Intangible
Total
assets
Customer
contracts
£’000
£’000
£’000
Cost:
At 1 April 2016 and 31 March 2017
30,838
3,612 34,450
Amortisation
At 1 April 2016
10,062
247
Charge for the year
1,355
181 10,309
1,536
At 31 March 2017 11,417 428 11,845
Net Book Value at 31 March 2017 19,421 3,184 22,605
At 31 March 2016 20,776 3,365 24,141
29. PENSION
The Association operates a SHPS defined contribution pension scheme in respect of auto-enrolment which commenced 1
October 2013. The assets of the scheme are held separately from those of the Association. The contributions of the Association
varied between 1% and 7% and employees varied between 1% and 4% of pensionable earnings. The total employer cost of
pension contributions for the year was £206,561 (2016: £177,470). The number of employees in the pension scheme at the year-
end was 980 (2016: 947).
The defined contribution pension scheme with AEGON was closed to new entrants during the financial year. The contributions
of the Association varied between 1% and 12% and employee contributions varied between 1% and 7% of pensionable earnings.
The total employer cost of pension contributions for the year was £413,914 (2016: £473,045). Contributions payable are charged to
management expenses as they fall due. The number of employees in the pension scheme at the year-end was 130 (2016: 156).
The Direct Health Group contributes to money purchase pension schemes for the benefit of certain directors and employees.
The assets of the schemes are held separately from those of the group in independently administered funds. The pension
contributions payable for the financial year ended 31 March 2017 were £159,642 and an amount of £50,751 was owing to the
schemes at the year end.
The Association participates in the scheme, a multi-employer scheme which provides benefits to some 500 non-associated
employers. The scheme is a defined benefit scheme in the UK. It is not possible for the association to obtain sufficient
information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a
defined contribution scheme.
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Accord Housing Association