EC Meeting May 2018

General Federation of Trade Unions Notes to the Accounts for the year ended 31 December 2017

13 Employment costs

Staff have joint contracts of employment with the Federation and the GFTU Educational Trust. The staff costs are administered by the Federation and a recharge is made to the Trust based on the time spent on the Trusts' activities.

2017

2016

Average number of employees

6

6

2017

2016

£

£

Gross, including employer's NI, pension contribution, childcare vouchers

337,925

320,450

Redundancy costs accrued Recharged to Educational Trust

-

-

(181,456)

(216,674)

156,469

103,776

These are shown in the financial statements as follows:

£

£

Employment costs (as above)

156,469 (15,713)

103,776 (18,905)

Less: Federation pension scheme contributions

Less: Casual and agency workers

(1,265)

(5,321)

Administrative expenses - Employment costs/redundancy costs

139,491

79,550

The proportion of pension scheme contributions recharged to the GFTU Educational Trust is reflected within note 5 to the accounts and the recharge for the year is as follows:

£

£

Administrative expenses - Pension scheme contributions recharged

24,004

69,890

Actual

Actual

2017 £ 000

2016 £ 000

184

225

Interest expense Interest income

(213)

(272)

Other finance costs

(29)

(47)

Actual

Actual

2017 £ 000

2016 £ 000

Current service costs

(22)

(33)

The employer contributions for the year to 31 December 2018 are estimated to be £85,000.

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