b'Strategic report Governance Financial statements45. Directors emoluments and employee informationThe average monthly number of persons (including Executive and Non-executive Directors) employed by the Company during the year was:Year ended Year ended31 March 31 March2020 2019Number NumberCentral functions 9 12Central functions comprise senior management (including Executive and Non-executive Directors), finance, compliance, legal, administration, people and talent, and marketing.The aggregate employee benefit expense (including Executive and Non-executive Directors) was:Year ended Year ended31 March 31 March2020 2019000 000Wages and salaries 950 1,092Social security costs 120 142Other pension costs (note 46) 58 641,128 1,298Information in respect of Directors emoluments, share options and pensions is given in the Remuneration Report on pages 65 to 68 of this AnnualReport.46. Retirement benefit schemesThe Company contributes into the personal pension plans of all qualifying employees. The amount charged in the year to 31 March 2020 was 58,000 (2019: 64,000). As at 31 March 2020, no contribution payments were outstanding (2019: nil).47. Related partiesThe Company has taken advantage of the exemption available to companies under FRS 101 not to disclose transactions and balances between members of the same group. Note 30 of the consolidated financial statements details the Groups related party transactions.48. Ultimate controlling partyThe Company has no single ultimate controlling party.49. Post balance sheet eventsNote 32 of the consolidated financial statements details the post balance sheet events in respect of the Group.Mercia Asset Management PLC 107Annual Report and Accounts 2020'