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Notes to Accounts of TCPL Packaging Ltd.

Mar 31, 2015

1. [1] The loans from banks are secured by First pari passu charge on movable and immovable assets of the Company situated at Haridwar, Silvassa, Guwahati & Goa both present & future and Second pari passu charge by way of hypothecation of the Company's entire stock and other movables including books debts, bills, outstanding monies, receivables both present and future.

The loans from others are secured by hypothecation of specific machinery / assets for which loans are availed.

[2] Rupee Term Loan from banks carries interest in the range of 13% to 13.50% p.a. and Foreign Currency Loans from banks carries interest at LIBOR 100 to 200 basis points. The loans are repayable in monthly/ quarterly instalments.

Rupee loans from others carries interest in the range of 13% to 15% p.a. and are repayable in monthly instalments.

2. Contingent Liabilities:

i. Counter Guarantees given to the banks in respect of:

Bank Guarantees of Rs. 101.71 lacs given to the Electricity Departments/Various Government Authorities (Previous year Rs. 66.71 lacs)

ii. Disputed demands of Rs. 294.68 lacs in respect of various orders passed by Central Excise and Income Tax authorities (Previous year Rs. 410.35 lacs) for which appeals are made.

3. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) Rs. 2535.69 lacs (Previous year Rs. 1155.78 lacs)

4. Other Commitments:

The Company has imported capital goods under the export promotion capital goods scheme to utilize the benefit of a zero or concessional customs duty rate. These benefits are subject to future exports. Such export obligations at year end aggregate to Rs. 4834.14 lacs (Previous year Rs. 2784.37 lacs)

5. In the opinion of the Board, Current Assets, Loans and Advances (including Capital Advances) have a value on realisation in the ordinary course of business, at least equal to the amount at which they are stated.

The accounts of certain Sundry Debtors, Sundry Creditors, Advances and Lenders are subject to confirmation / reconciliation and adjustments, if any, the management does not expect any material difference affecting the current year's financial statements.

6. Disclosure regarding Derivative Instruments

a) The Company has entered into foreign currency forward contracts to hedge risks associated with foreign currency fluctuations relating to certain firm commitment and highly probable forecast transactions.

7. Effective April 1,2014, the Company has changed the estimated useful life of assets in accordance with Part C of Schedule II to the Companies Act, 2013. Pursuant to such provisions, the carrying amount of fixed assets amounting to Rs. 59.74 lacs, where the remaining estimated useful life as on the effective date is 'Nil' has been charged to Profit and Loss account instead of adjusting in General Reserve. Had this not been changed the profit for the current year would have been higher by Rs. 59.74 lacs.

Further, during the current financial year the Company has re-assessed useful life of asset based on technical evaluation. Accordingly, the depreciation provided for the current year is lower by Rs. 401.01 lacs

8. Employment benefits:

i. Defined Contribution Plan:

Company's contribution to Provident Fund is Rs. 155.88 lacs (Previous Year Rs. 146.06 lacs)

ii. Defined Benefit Plan:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service receives gratuity on leaving at the rate of 15 days salary (last drawn salary) for each completed year of service.

The following table summarises the components of net benefit expense recognised in the profit and loss account and the funded status and amount recognised in the balance sheet.

The Company expects to contribute Rs. 36.00 lacs (Previous year Rs. 36.00 lacs) to its Gratuity plan for the next year.

9. In the absence of detailed information regarding Plan Assets which is funded with Life Insurance Corporation of India, the composition of each major category of plan assets, the percentage or amount for each category to the total fair value plan assets has not been disclosed.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market. The above information is certified by the actuary and relied upon by the Auditors.

10. (a) Current Year Tax

The Computation of tax in the current year has been arrived after considering Investment Allowance under Section 32AC of The Income Tax Act, 1961 to the extent of Rs. 635.69 lacs.

(b) Deferred Tax

For the year ended 31st March, 2015, the Company has accounted for Deferred Tax Liability of Rs. 125.00 lacs (Previous Year Rs. 197.77 lacs).

11. The Company is engaged in the segment of packaging and there are no reportable segments as per Accounting Standard 17.

12. Previous year's figures have been re-arranged and regrouped wherever considered necessary.


Mar 31, 2014

(1) Contingent Liabilities

a) Counter Guarantees given to the banks in respect of:

i) Bank Guarantee of Rs.66.71lacs given to the Electricity Departments / Various Government Authorities (Previous year Rs.71.71 lacs)

ii) The Bonds given to Customs and Excise Authorities – Rs.8260.53lacs towards export obligation fulfllment of Rs 21830.74lacs (since fulflled Rs.19046.37) for licences issued under Export Promotion Capital Goods Scheme (Previous Years Rs.6638.74 lacs) and for other matters Rs.1757.18 (Previous Year Rs.1612.58 lacs)

b) Disputed demands of Rs.410.35lacs in respect of various orders passed by Central Excise / Income Tax authorities (Previous year Rs.116.66 lacs) for which appeals are made.

(2) Estimates amount of contracts remaining to be executed on capital account and not provided for (net of advances) Rs. 1155.78 lacs (Previous year Rs.2090.72 lacs)

(3) In the opinion of the Board, Current Assets, Loans and Advances (including Capital Advances) have a value on realisation in the ordinary course of business, at least equal to the amount at which they are stated.

The accounts of certain Sundry Debtors, Sundry Creditors, Advances and Lenders are subject to confirmation / reconciliation and adjustments, if any, the management does not expect any material difference affecting the current year''s financial statements.

(4) The Central Government vide notifcation dated 31st March, 2009 has amended Accounting Standard 11 "The Effects, changes in Foreign Exchange Rates". In view of this, Effect on account of exchange differences loss of Rs.710.92 lacs (net) (Previous year Rs.91.60 lacs) has been adjusted in the cost of Assets relating to various outstanding Foreign Currency Loans.

(5) The Company is engaged in the segment packaging and there are no reportable segments as per Accounting Standard 17.

(6) List of Related Parties with whom the Company has entered into transactions during the year in ordinary course of business. List of Related Parties :

1) Enterprises in which control / significant infuence exist: Accura Reprotech Pvt Ltd

Narmada Fintrade Pvt Ltd Flixit Animations Pvt Ltd

2) Key Management Personnel

(a) Mr. Saket Kanoria, Managing Director

(b) Mr. K. K. Kanoria, Whole-time Director

(c) Mr. Rishav Kanoria, Executive Director

(7) Disclosure regarding Derivative Instruments

a) The Company has used foreign currency forward contracts to hedge its risks associated with foreign currency fuctuations relating to certain firm commitment and highly probable forecast transactions.

(8) Employment benefits:

a) Defined Contribution Plan:

Company''s contribution to Provident Fund Rs.146.06lacs (PreviousYear Rs.119.13 lacs)

b) Defined benefit Plan:

The Company has a Defined benefit gratuity plan. Every employee who has completed five years or more of service receives gratuity on leaving at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarise the components of net benefit expense recognised in the profit and loss account and the funded status and amount recognised in the balance sheet.

In the absence of detailed information regarding Plan Assets which is funded with Life Insurance Corporation of India, the composition of each major category of plan assets, the percentage or amount for each category to the total fair value plan assets has not been disclosed.

The details of experience adjustments arising on account of plan assets and plan liabilities as required by paragraph 120(n)(ii) of AS 15 (Revised) on "Employee benefits" are not readily available in the valuation statement from LIC and hence, are not furnished.

The estimates of future salary increases, considered in actuarial valuation, take account of infation, seniority, promotion and other relevant factors such as supply and demand in the employment market. The above information is certified by the actuary and relied upon by the Auditors.

(9) Previous year''s figures have been re-arranged and regrouped wherever considered necessary.


Mar 31, 2013

(1) Contingent Liabilities

a) Counter Guarantees given to the banks in respect of :

i) Bank Guarantee of Rs. 71.71 lacs given to the Electricity Departments / Various Government Authorities (Previous year Rs. 58.02 lacs)

ii) The Bonds given to Customs and Excise Authorities - Rs. 6638.74 lacs towards export obligation fulfillment of Rs. 17420.70 lacs (since fulfilled Rs. 14360.76 lacs) for licences issued under Export Promotion Capital Goods Scheme (Previous Years Rs. 5911.43 lacs) and for other matters Rs. 1612.58 lacs (Previous Year Rs. 788.80 lacs)

b) Disputed demands of Rs. 116.66 lacs in respect of various orders passed by Central Excise / Income Tax authorities (Previous year Rs. 119.41 lacs) for which appeals are made.

(2) Estimates amount of contracts remaining to be executed on capital account and not provided for (net of advances) Rs. 2090.72 lacs (Previous year Rs. 345.17 lacs)

(3) In the opinion of the Board, Current Assets, Loans and Advances (including Capital Advances) have a value on realisation in the ordinary course of business, at least equal to the amount at which they are stated.

The accounts of certain Sundry Debtors, Sundry Creditors, Advances and Lenders are subject to confirmation / reconciliation and adjustments, if any, the management does not expect any material difference affecting the current year''s financial statements.

(4) The Central Government vide notification dated 31st March, 2009 has amended Accounting Standard 11 "The Effects, changes in Foreign Exchange Rates". In view of this, Effect on account of exchange differences loss of Rs. 91.60 lacs (net) (Previous year Rs. 160.27 lacs) has been adjusted in the cost of Assets and loss of Rs. Nil (Previous Year 0.07) has been adjusted under Capital work in progress relating to various outstanding Foreign Currency Loans.

(5) The Company has received capital grant of Rs. Nil (Previous year Rs. 30 lacs) for its plant at Haridwar towards fixed capital investment

Note : The information has been given in respect of such vendors to the extent they could be identified as " Micro, Small and Medium Enterprises" on the basis of information available with the Company.

(6) The Company is primarily engaged in the segment of printing & packaging and there are no reportable segments as per Accounting Standard 17.

(7) List of Related Parties with whom the Company has entered into transactions during the year in ordinary course of business. List of Related Parties :

1) Enterprises in which control / Significant influence exist :

Accura Reprotech Pvt Limited Narmada Fintrade Pvt Limited

Flixit Animations Pvt Ltd (Formely known as TCPL Helios India Pvt Ltd)

2) Key Management Personnel

(a) Mr. Saket Kanoria, Managing Director

(b) Mr. K. K. Kanoria, Whole-time Director

Note: Under the loan agreements, some of the lenders have at their option, a right to convert certain percentage of outstanding amount into fully paid equity shares, in the event of default by the Company in payment of principal and / or interest. As the Company is not in default of any payment obligations to such lenders as on 31st March, 2013, the same are not considered as potential equity shares for the purpose of calculating diluted earnings per share.

(8) Employment benefits :

a) Defined Contribution Plan:

Company''s contribution to Provident Fund Rs. 131.45 lacs (Previous Year Rs.102.85 lacs)

b) Defined Benefit Plan:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service receives gratuity on leaving at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarise the components of net benefit expense recognised in the profit and loss account and the funded status and amount recognised in the balance sheet.

Gratuity premium is paid to LIC of India under Gratuity Scheme of LIC

In the absence of detailed information regarding Plan Assets which is funded with Life Insurance Corporation of India, the composition of each major category of plan assets, the percentage or amount for each category to the total fair value plan assets has not been disclosed.

The details of experience adjustments arising on account of plan assets and plan liabilities as required by paragraph 120(n)(ii) of AS 15 (Revised) on "Employee Benefits" are not readily available in the valuation statement from LIC and hence, are not furnished.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market. The above information is certified by the actuary and relied upon by the Auditors.

The agreements are executed for a period of 11 to 96 months with a renewable clause and also provide for termination by either party giving a prior notice period of 1 to 3 months.

(9) Previous year''s figures have been re-arranged and regrouped wherever considered necessary.


Mar 31, 2012

(1) Contingent Liabilities

a) Counter Guarantees given to the banks in respect of :

The Bonds given to Customs and Excise Authorities - Rs5911.43 lakhs towards export obligation fulfillment of Rs1 5632.36 lakhs (since fulfilled Rs9287.24 lakhs for licenses issued under Export Promotion Capital Goods Scheme (Previous Year Rs3626.64 lakhs) and for other matters Rs788.80 lakhs (Previous Year Rs371.25 lakhs)

b) Disputed demands of 19.41 lakhs in respect of various orders passed by Central Excise / Income Tax authorities (Previous year Rs119.41 lakhs) for which appeals are made.

(2) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances ) Rs345.1 7 lakhs (Previous Year Rs 2808.49 lakhs)

(3) In the opinion of the Board, Current Assets, Loans and Advances (including Capital Advances) have a value on realization in the ordinary course of business, at least equal to the amount at which they are stated.

The accounts of certain Sundry Debtors, Sundry Creditors, Advances and Lenders are subject to confirmation / reconciliation and adjustments, if any, the management does not expect any material difference affecting the current year's financial statements.

(4) The Central Government vide notification dated 31st March, 2009 has amended Accounting Standard (AS-II) "The Effects, changes in Foreign Exchange Rates" In view of this, Effect on account of exchange differences loss of Rs1 60.27 lakhs (Previous year Rs 76.61 lakhs) has been adjusted in the cost of Assets and loss of Rs0.07 lakhs. (Previous Year Nil) has been adjusted under Capital work in progress relating to various outstanding Foreign Currency Loans.

(5) During the year the Company has received capital grant of Rs30 lakhs for its plant at Hardwar towards fixed capital investment and the same has been credited to Capital Reserve

(6) The Company is primarily engaged in the segment of printing & packaging and there are no reportable segments as per Accounting Standard 1 7.

(7) List of Related Parties with whom the Company has entered into transactions during the year in ordinary course of business. List of Related Parties :

1) Enterprises in which control / Significant influence exist :

Accura Reprotech Private Limited

Narmada Fin trade Limited

Genus Trading & Mercantile Private Limited

pTCPL Helios India Private Limited

2) Key Management Personnel

(a) Mr. Saket Kanoria, Managing Director

(b) Mr. K. K. Kanoria, Whole-time Director

(13) Employment benefits :

a) Defined Contribution Plan:

Company's contribution to Providend Fund Rs102.85 lakhs. (Previous Year 69.13 lakhs)

b) Defined Benefit Plan:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service receives gratuity on leaving at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarize the components of net benefit expense recognized in the profit and loss account and the funded status and amount recognized in the balance sheet.

Gratuity premium is paid to LIC of India under Gratuity Scheme of LIC

In the absence of detailed information regarding Plan Assets which is funded with Life Insurance Corporation of India, the composition of each major category of plan assets, the percentage or amount for each category to the total fair value plan assets has not been disclosed.

The details of experience adjustments arising on account of plan assets and plan liabilities as required by paragraph 120(n)(ii) of AS 15 (Revised) on "Employee Benefits" are not readily available in the valuation statement from LIC and hence, are not furnished.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market. The above information is certified by the actuary and relied upon by the Auditors.

(8) The financial statement for the year ended 31st March, 2011 as per then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of revised Schedule VI under the Companies Act, 1956, the financial statements for the year 31st March, 2012 are prepared in compliance with revised Schedule VI. Accordingly, the previous year's figures have also been reclassified / regrouped to conform to current year's classification. The adoption of revised Schedule VI for the previous year figures does not impact recognition and measurement principles followed for the preparation of financial statements.

(9) Previous year's figures have been re-arranged and regrouped wherever considered necessary.


Mar 31, 2011

(1) Contingent Liabilities

a) Counter Guarantees given to the banks in respect of :

i) Bank Guarantees of Rs. 53.28 lakhs given to the Electricity Department/various Government Authorities (Previous Year Rs. 48.08 lakhs)

ii) The Bonds given to Customs and Excise Authorities - Rs. 3997.89 lakhs towards export obligation fulfillment of Rs. 11450.17 lakhs (since fulfilled Rs. 8384.48 lakhs for licences issued under Export Promotion Capital Goods Scheme (Previous Year Rs. 3728.03 lakhs) and for other matters Rs. 371.25 lakhs (Previous Year Rs. 853.51 lakhs)

b) Disputed demands of Rs. 119.41 lakhs in respect of various orders passed by Central Excise / Income Tax authorities (Previous year Rs. 1 29.98 lakhs) for which appeals are made.

(2) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances ) Rs. 2808.49 lakhs (Previous Year Rs.1117.91 lakhs )

(3) In the opinion of the Board Current Assets, Loans and Advances (including Capital Advances) have a value on realisation in the ordinary course of business, at least equal to the amount at which they are stated.

The accounts of certain Sundry Debtors, Sundry Creditors, Advances and Lenders are subject to confirmation / reconciliation and adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

(4) (a) Borrowing cost adjusted in the carrying cost of fixed assets during the year is Rs. 95.32 lakhs (Previous year Rs. 47.85 lakhs)

(b) Foreign exchange loss capitalised Rs. 42.34 lakhs (Previous Year Rs. 131.95 lakhs gain)

(5) The Central Government vide notification dated 31st March, 2009 has amended Accounting Standard (AS - 11) "The Effects, Changes in Foreign Exchange Rates". In view of this, loss on account of Exchange differences of Rs. 42.34 lakhs (Previous year Rs. 131.95 lakhs gain ) relating to various outstanding Foreign Currency Letter of Credit Liability / Buyers Credit for the year 2010-11 has been adjusted in the cost of Assets.

(6) Micro, Small and Medium Enterprises :

Note: The information has been given in respect of such vendors to the extent they could be identified as " Micro,Small and Medium Enterprises on the basis of information available with the Company.

(7) The Company is primarily engaged in the segment of printing & packaging and there are no reportable segments as per Accounting Standard 17.

(8) List of Related Parties with whom the Company has entered into transactions during the year in ordinary course of business.

List of Related Parties :

1) Enterprises in which control / Significant influence exist :

Accura ReproTech Private Limited

Narmada Fintrade Limited

Genus Trading & Mercantile Pvt. Ltd

TCPL Helios India Pvt Ltd

2) Key Management Personnel

a) Mr. Saket Kanoria, Managing Director

b) Mr. K. K. Kanoria, Wholetime Director

(9) Calculation of Basic & Diluted Earnings Per Share :

Note :Under the loan agreements, some of the lenders have at their option, a right to convert certain percentage of outstanding amount into fully paid equity shares, in the event of default by the Company in payment of principal and / or interest. As the Company is not in default of any payment obligations to such lenders as on 31st March,2011, the same are not considered as potential equity shares for the purpose of calculating diluted earnings per share.

(11) Tax provision for earlier years of Rs. Nil (Previous Year Rs. 93.50 lakhs) is on account of tax liability arising on account of short provision, disallowances at the time of assessments.

(12) (a) Capital Work-in-Progress includes Capital Advances of Rs. 953.23 lakhs (Previous Year Rs. 144.37 lakhs)

(b) During the year, pre-operative expenses incurred for expansion that have been capitalised are Rs. 63.48 lakhs (Previous Year Rs. 58.54 lakhs)

(15) Employment benefits:

a) Defined Contribution Plan:

Companys contribution to Providend Fund Rs. 69.13 lakhs. (Previous Year 56.30 lakhs)

b) Defined Benefit Plan:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service receives gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarise the components of net benefit expense recognised in the profit and loss account and the funded status and amount recognised in the balance sheet.

Gratuity premium is paid to LIC of India under Gratuity Scheme of LIC

In the absence of detailed information regarding Plan Assets which is funded with Life Insurance Corporation of India, the composition of each major category of plan assets, the percentage or amount for each category to the total fair value plan assets has not been disclosed.

The details of experience adjustments arising on account of plan assets and plan liabilities as required by paragraph 120(n)(ii) of AS 15 (Revised) on "Employee Benefits" are not readily available in the valuation statement from LIC and hence, are not furnished.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market. The above information is certified by the actuary and relied upon by the Auditors.

(17) Finance Lease

The agreements are executed for a period of 11 to 96 months with a renewable clause and also provide for termination by either party giving a prior notice period of 1 to 3 months

(18) The Ministry of Corporate affairs, Government of India vide its General Notification No.S.O301 (E) Dated 8th February, 2011 issued under section 211 (3) of the companies Act, 1956 has exempted certain classes of companies from disclosing certain information in their profit and loss account.

The Company being manufacturing Company is entitled to the exemption. Accordingly, disclosures mandated by paragraphs 3(i) (a). 3 (ii) (a), of Part II, Schedule VI of the companies Act, 1956 have not been provided.

(19) Previous Years figures have been re-arranged and regrouped wherever considered necessary.


Mar 31, 2010

(1) Contingent Liabilities

a) Counter Guarantees given to the banks in respect of:

i) Bank Guarantees of Rs 48.08 lakhs given to the Electricity Department/various Government Authorities (Previous Year Rs.25.70 lakhs)

ii) The Bonds given(to Customs and Excise Authorities) Rs3728.03 lakhs towards export obligation fulfillment of Rs 11080.12 lakhs(since fulfilled Rs 6830.50 lakhsjfor licences issued under Export Promotion Capital goods scheme (Previous year Rs.3744.53 lakhs) and other matters Rs 853.51 lakhs. (Previous Year Rs. 853.51 lakhs)

b) Disputed demands of Rs 129.98 lakhs in respect of various orders passed by Central Excise / Income Tax authorities (Previous year Rs. 144.31 lakhs) for which appeals are made.

(2) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) Rs 1117.91 lakhs (Previous Year Rs. 1646.34 lakhs)

(3) In the opinion of the Board, Current Assets, Loans and Advances (including Capital Advances) have a value on realisation in the ordinary course of business, at least equal to the amount at which they are stated.

The accounts of certain Sundry Debtors, Sundry Creditors, Advances and Lenders are subject to confirmation / reconciliation and adjustments, if any, the management does not expect any material difference affecting the current years financial statements.

(4) Borrowing cost adjusted in the carrying cost of fixed assets during the year is Rs 47.85 lakhs (Previous year Rs.Nil)

(5) Consequent upon the adoption of the Companies (Accounting Standards) Rules 2006 with effect from 1 st April,2007 the following changes in accounting policy/ estimate have been made during the year:

The Central Government vide notification dated 31st March 2009 has amended Accounting Standard (AS - 11) "The Effects, Changes in Foreign Exchange Rates". In view of this, gain on account of Exchange differences of Rs. 131.95 lakhs ( Previous year Rs 290.76 lakhs Loss ) relating to various outstanding Foreign Currency Letter of Credit Liability / Buyers Credit for the year 2009-10 has been adjusted in the cost of Assets.

(6) The Company is primarily engaged in the segment of printing & packaging and there are no reportable segments as per Accounting Standard 1 7.

(7) List of Related Parties with whom the Company has entered into transactions during the year in ordinary course of business. List of Related Parties :

1) Associates :

Accura ReproTech Pvt. Ltd.

2) Enterprises in which control / Significant influence exist: Narmada Fintrade Limited Genus Trading & Mercantile Pvt. Ltd TCPL Helios India Pvt Ltd

3) Key Management Personnel

(a) Mr. Saket Kanoria, Managing Direc

(b) Mr. K. K. Kanoria, Whole-time Dire.

(14) Employment benefits:

a) Defined Contribution Plan:

Companys contribution to Providend Fund Rs 56.30 lakhs. (Previous Year 49.79 lakhs)

b) Defined Benefit Plan:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service receives gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarise the components of net benefit expense recognised in the profit and loss account and the funded status and amount recognised in the balance sheet.

(8) Previous Years figures have been re-arranged and regrouped wherever considered necessary.

 
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