EC Meeting Papers July 2018

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

15 Other financial commitments

2017

2016

£

£

Total future minimum contributions to the General Federation of Trade Unions Pension Scheme

1,050,000

1,120,000

16 Contingent liabilities

The Federation has a commitment to continue supporting the GFTU Educational Trust, which based on draft financial statements had net assets at the year end of £…………... (2016 - £1,147,085).

17 Related party transactions

The General Federation of Trade Unions Educational Trust ("GFTU Educational Trust") was established by the General Federation of Trade Unions, which continues to support it financially. At 31 December 2017, the GFTU Educational Trust which based on draft financial statements had net assets of £.................. (2015 - £1,147,085). Transactions during the year ended 31 December 2017 included:

2017

2016

£

£

-

(100,000) 199,101

Gift Aid donated to the GFTU Educational Trust

151,489

Employment costs recharged to the GFTU Educational Trust Occupancy costs recharged to the GFTU Educational Trust

-

-

The balance due from the GFTU Educational Trust at the year end was £1,604,158 (2016 - £1,178,230) which is included in debtors.

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