Software development costs and infrastructure purchased and developed in-house have been capitalised within intangible assets as they can be identified with a specific project anticipated to produce future benefits. Once brought into use, they will be amortised on the straight-line basis over the anticipated life of the benefits arising from the completed project, usually expected to be between 3 and 8 years. Fixtures and fittings—5 years. d) Leases Rent-free periods are accounted for over the period of the lease to the first break clause for each property. e) Pension costs The National Association of Citizens Advice Bureaux (NACAB) Pension and Assurance Plan (1991) is a multi-employer defined benefit scheme which was closed during the financial year ended 31 March 2008. Having taken advice from the scheme’s actuary, Citizens Advice cannot identify its share of the underlying assets and liabilities on a consistent and reasonable basis. The disclosures under FRS 102 in this circumstance are shown in note 22. The expected cost of providing pensions is calculated periodically by a professionally-qualified actuary. The operating costs of providing retirement benefits to employees are charged to the statement of financial activities in the year in which they are incurred as required by FRS 102. On 1 April 2005, Citizens Advice introduced a defined contribution pension. From April 2014, staff are automatically enrolled unless they opt out of the scheme. The employer’s contributions are charged to the statement of financial activities in the period in which they were incurred. One Consumer Futures member of staff who transferred in April 2014 retains participation in the Civil Service scheme. f) Financial instruments Citizens Advice has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at the present value of future cash flows (amortised cost). Financial assets held at amortised cost comprise short-term cash deposits and the group’s debtors excluding prepayments. Financial liabilities held at amortised cost comprise the group’s short- and long-term creditors excluding deferred income and taxation payable. Financial liabilities held at fair value comprise the group’s provisions. No discounting has been applied on the basis that the periods over which amounts will be settled are such that any discounting would be immaterial. Investments are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure. Investments in subsidiary undertakings are held at cost less impairment. 78 contents Financial Statements