Arhag Annual Report 2019/2020

19. OPERATING LEASES At 31 March the Association had operating lease commitments as follows: 2020 (£’000) 2019 (£’000) Land and buildings: Due within one year 25 73 Due between one and five years - 64 25 137 20. EMPLOYEE BENEFITS Defined contribution plans The Association operates a defined contribution pension plan. The total expense relating to this plan in the current year was £52,208 (2019: £71,900). Group life cover The Association operates a Group life policy cover with employee benefit of three times annual salary. The total expense relating to this policy in the current year was £4,789 (2019: £2,654). 21. CAPITAL COMMITMENTS 2020 (£’000) 2019 (£’000) Expenditure contracted for but not provided for in the Financial Statements: Stratford office - 396 As at 31 March 2020 - 396 22. RECYCLED CAPITAL GRANT FUND 2019 (£’000) Opening balance: At 1 April 2019 27 Additions in year 68 Closing balance: At 31 March 2020 95 Annual Report 2019-2020 55