28. INTANGIBLE FIXED ASSETS
Goodwill
Intangible
Total
assets
Customer
contracts
£’000
£’000
£’000
Cost:
At 1 April 2017 and 31 March 2018
30,838
3,612 34,450
Amortisation
At 1 April 2017
11,417
428
Charge for the year
1,676
181 11,845
1,857
At 31 March 2018 13,093 609 13,702
Net Book Value at 31 March 2018 17,745 3,003 20,748
At 31 March 2017 19,421 3,184 22,605
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 £283,269 (2017: £206,561). The number of employees in the pension scheme at the year-
end was 1,372 (2017: 980).
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 £368,118 (2017: £413,914). Contributions payable are charged to
management expenses as they fall due. The number of employees in the pension scheme at the year-end was 119 (2017: 130).
The Association also operates a NEST scheme. The assets of this scheme are held seperatley from those of the Association in
independently administered funds. The pension contributions payable for the financial year ended 31 March 2018 were £194,519
and an amount of £21,482 was owing to the schemes at the year end. The number of employees in the pension scheme at the
year-end was 1,322.
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