Annual Report 2018/19
The annual report and financial statements for the year ended 31 March 2019 are now available to read in full here.
In the foreword, David Kidd, Chairman, summed up the year as follows: ‘The Trustee Board held four meetings during the year ending 31 March 2019 as well as several conference calls and a separate investment managers’ day.
‘The primary concern facing the Trustee Board at the start of the financial year was the outstanding issue of the triennial review 2015 at the same time as the subsequent statutory valuation 2018 also became due to the Pensions Regulator. A sub-committee was set up to resolve the triennial valuations with the Employers and also oversee a new work programme to sectionalise the assets and liabilities by constituent national tourist board. The Trustees are pleased to report that the conclusion of these discussions were successful and Crown guarantees were obtained after the financial year from DCMS and the Scottish Government for VisitBritain and VisitScotland respectively.’