Tesco 2004 Annual Report Download - page 53
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NOTE 27 Pensions continued
On full compliance with FRS 17, and on the basis of the assumptions noted above, the amounts that would have been charged
to the consolidated proÞt and loss account and consolidated statement of total recognised gains and losses for the year ended
28 February 2004 are set out below:
2004 2003
£m £m
Analysis of the amount charged to operating proÞt
Current service cost 201 149
Past service cost
Total operating charge 201 149
Analysis of the amount credited/(charged) to other Þnance income
Expected return on pension schemes assets 120 115
Interest on pension schemes liabilities (126) (101)
Net return (6) 14
Analysis of the amount recognised in the statement of total recognised gains and losses
Actual return less expected return on pension schemes assets 192 (323)
Experience gains and losses arising on the schemes liabilities (48) (53)
Changes in assumptions underlying the present value of the schemes liabilities (4) (193)
Total actuarial gain/(loss) recognised in the statement of total recognised gains and losses 140 (569)
Movement in deÞcit during the year
DeÞcit in schemes at beginning of the year (769) (184)
Movement in year:
Current service cost (201) (149)
Contributions 162 121
Past service costs
Acquisition cost (2)
Other Þnance (charge)/income (6) 14
Actuarial gain/(loss) 140 (569)
DeÞcit in schemes at end of the year (674) (769)
History of experience gains and losses for the year to 28 February 2004
Difference between the expected and actual return on schemes assets:
Amount (£m) 192 (323)
Percentage of schemes assets (%) 9.7% (21.4%)
Experience gains and losses on schemes liabilities:
Amount (£m) (48) (53)
Percentage of schemes liabilities (%) (1.8%) (2.3%)
Total actuarial gain/(loss) recognised in the statement of total recognised gains and losses:
Amount (£m) 140 (569)
Percentage of schemes liabilities (%) 5.3% (25.0%)