75 / 116
(f) Non-current liabilities - Defined benefit plans
(i) Consolidated Balance Sheet amounts
The amounts recognised in the balance sheet and the movements in the net defined benefit
obligation over the year as follows:
Present value
of obligation
$’000
Fair value of
plan assets
$’000
Net
amount
$’000
Balance as at 1 July 2014
(40,331)
28,701
(11,630)
Included in consolidated income statement
Current service cost
(589)
-
(589)
Interest (expense)/income
(1,405)
1,002
(403)
(1,994)
1,002
(992)
Included in other comprehensive income
Re-measurements
Return on plan assets, excluding amounts
included in interest (expense)/income
-
2,253
2,253
(Loss)/gain from change in financial assumptions
4,071
-
4,071
Experience gains/(losses)
(1,070)
-
(1,070)
3,001
2,253
5,254
Contributions:
Employers
-
751
751
Plan participants
(275)
275
-
Payments from plan:
Payments from plan
1,596
(1,596)
-
1,321
(570)
751
Balance as at 30 June 2015
(38,003)
31,386
(6,617)
Balance sheet as at 1 July 2015
(38,003)
31,386
(6,617)
Included in consolidated income statement
Current service cost
(535)
-
(535)
Interest (expense)/income
(1,769)
1,469
(300)
(2,304)
1,469
(835)
Included in other comprehensive income
Re-measurements
Return on plan assets, excluding amounts
included in interest (expense)/income
-
(593)
(593)
(Loss)/gain from change in demographic
assumptions
(2,847)
-
(2,847)
(Loss)/gain from change in financial assumptions
(3,474)
-
(3,474)
Experience gains/(losses)
(853)
-
(853)
(7,174)
(593)
(7,767)
Contributions:
Employers
-
751
751
Plan participants
(280)
280
-
Payments from plan:
Benefit payments
5,917
(5,917)
-
5,637
(4,886)
751
Balance as at 30 June 2016
(41,844)
27,376
(14,468)
NOTE 8 (CONTINUED)
NON-FINANCIAL ASSETS AND LIABILITIES
73