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2021-03-31-accounts

INDEX
Page
INFORMATION
STRATEGIC REPORT 3 —23
BOARD REPORT 24 —25
INDEPENDENT
AUDITOR'S		 REPORT 26-29
STATEMENT OF COMPREHENSIVE INCOME 30
STATEMENT OF FINANCIAL POSITION 31
STATEMENT OF CHANGES IN RESERVES 32
STATEMENT OF CASH FLOWS 33
NOTES TO THE FINANCIAL STATEMENTS 34-52

SENIOR LEADERS HIP TEAM:
Andrew
Redfern		 Chief Executive
Suzanne
Williamson		 Director of Finance, Governance
8 Risk
Claire Hardwick Operations
Director (Appointed 01.04.2020)
Director of Corporate Services (Until 31.03.2020)
Lisa Del Buono Service Director
Dave Smith Service Director
Apollos Clifton-Brown Director of Health and Social Care
Dave Newmarch Director of Corporate Services (Appointed 01.06.2020)
COMPANY Suzanne
Williamson
SECRETARY:
REGISTERED Val Roberts House, 25 Gregory Boulevard,
OFFICE: Nottingham
NG7 6NX
Tel: (0115)841 7711 E-Mail:
info@frameworkha.		 org
AUDITOR: Beever and Struthers, StGeorge's House, 215-219Chester Road,
Manchester
M154JE
SOLICITORS: Actons, 20 Regent Street, Nottingham
NG1 5BQ
BANKERS: National Westminster Bank Pic, Nottingham
City		 Branch
148-149Victoria Centre,
Nottingham
NG1 3QT
REGISTERED CHARITY No: 1060941
REGISTERED PROVIDER OF SOCIAL HOUSING No:
LH4 184
COMPANY REGISTRATION No: 331840

amework's Additional
VFM Metric		 s (continued)
Framework VfM Measure Budget 2020/'21 2019/'20
2020/'21 (8) (2) (2)
Cost per Service User by Pillar:
Housing 11,805 11,527 10,141
Health 1,044 1,162 1,100
Employment 1,483 1,297 1,161
Support 1,981 1,924 1,647
Cost per Hour ofService by Pillar:
Housing 26.27 24.51 31.35
Health 35.13 30.34 30.52
Employment 29.94 26.24 31.50
Support 21.71 19.69 21.85
Central Cost as a%of the Total 14 59o/ 1734% 1457%

Note 2020/21 2019/20
f000 f000
Turnover 47,528 45,241
Operating
expenditure		 45,086) (44,180)
Operating
surplus		 2,442 1,061
Surplus on disposal ofproperty 145
Finance income 23
Interest snd financing costs (206) (269)
Surplus for the year 2,241 960
Actuarial loss in respect ofpension schemes 16 (864) 104
Total comprehensive income for the year 1,377 1,064

Note 2020/21 2019/20
8000 8000
FIXEDASSETS
Tangible assetsi
Property, Plant and Equipment 78,324 72,467
Depreciation (12,039) (10,687)
66/85 61,780
CURRENT ASSETS
Debtors 12 2,992 3,913
Cash and Investments 13 9,908 10,492
12,900 14,405
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR 14 (6,737) (7,586)
NET CURRENT ASSETS 6,163 6,819
TOTAL ASSETSLESS
CURRENT LIABILITIES 72,448 68,599
CREDITORS: AMOUNTS FALLING
DUE AFTER MORE THAN ONE YEAR
Deferred government
grants		 15b 35,069 33,577
Long Term Loans 15a 9,567 9,547
44,636 43,124
NET ASSETSBEFOREPENSION LIABILITY 27,812 25,475
Defined benefit pension liability 16 2,086 1,126
NET ASSETS 25&726 24,349
CAPITAL AND RESERVES
Called up Share Capital 17
Revenue Reserves 25,726 24,349
25&726 24@49

INCOM E
dk EXPENDITURE RESERVES
Note
f000
At 1stApril 2020 24,349
Surplus for year 2,241
Actuarial loss in respect ofpension schemes 16 (864)
Revenue Reserves as at31stMarch 2021 25,726
f000
At 1stApril 2019 23,285
Surplus for year 960
Actuarial gain in respect ofpension schemes 16 104
Revenue Reserves as at31stMarch 2020 24,349

Note 2020/21 2019/20
f000 f000
Cash generated
from operating
activities
Surplus for the year 2,241 960
Adjustment
for non cash items
Depreciation ofproperty,
plant		 and equipment 11 1,389 1,429
Decrease/(Increase)
in Debtors		 12 921 (987)
(Decrease)/Increase
in Creditors		 14 (864) 2,679
Pension costs less contribution payable 16 141 214
(Profit) on disposal ofproperty, plant and equipment (145)
Government
grants utilised in the year		 15b (508) (552)
Interest received (5) (23)
Interest payable 206 76
Amounts
charged to financing
costs		 (45) (51)
Cash generated
by operating		 activities 3,476 3,600
Cash flows from investing
activities
Purchase ofproperty,
plant and		 equipment (5,894) (1,603)
Proceeds &om the sale ofproperty,
plant and equipment		 394
Grants received 2,021 1,418
Interest received 23
Net cash flows from investing activities (3,873) 232
Cash flows &om financing
activities
Interest Paid (222) (76)
New Loans 500
Loan repayments (465) (417)
Net cash flows from financing activities (187 (493)
Net(decrease)/increase
in cash and cash		 equivalents (584 3,339
Note 2019/20 2019/20
f000 f000
Cash and cash equivalents
at beginning		 ofyear 13 10,492 7,153
Net (decrease)/increase
in cash		 and cash equivalents (584) 3,339
Cash and cash equivalents
at end ofyear		 13 9,908 10,492

expected useful eco nomic lives at the follo wing
ann
Land n11
Buildings- Superstructure 1.25%
Buildings-Roof 2%
Buildings-Heating
Systems		 2.5%
Buildings - Electrical systems 3%
Buildings - Fixtures &Fitting: 5%
Furniture
t~t		 and Equipment 33%

NOTES TO THE FINANCIAL STATEMENTS
FORTHE YEARENDED 31stMARCH 2021(CONTINUED)		 NOTES TO THE FINANCIAL STATEMENTS
FORTHE YEARENDED 31stMARCH 2021(CONTINUED)		 NOTES TO THE FINANCIAL STATEMENTS
FORTHE YEARENDED 31stMARCH 2021(CONTINUED)		 NOTES TO THE FINANCIAL STATEMENTS
FORTHE YEARENDED 31stMARCH 2021(CONTINUED)
3
TURNOVER, OPERATING COSTS AND OPERATING SURPLUS
2020/21 2019/20
TURNOVER f000 f000
Rent and service charges receivable 17,441 16,926
Community
care contracts		 1,582 1,448
19,023 18&374
Statutory revenue income (Note 4) 9,020 8,724
Housing Related Support contracts 11333 11,023
Amortised
government
grant		 508 552
Specific charitable income (Note 4) 4,055 4,052
43,939 42,725
Non specitic charitable
giving		 (Note 4) 997 633
Other 2,592 1,883
TOTAL TURNOVER 47,528 45,241
OPERATING COSTS
Services 30,959 29,816
Management 9,161 8,641
Maintenance 2,983 3,425
Development 167 163
Fund raising 196 174
Bad debts 231 531
Depreciation 1,389 1,430
TOTAL OPERATING COSTS 45,086 44,180
OPERATING SURPLUS FORTHE YEAR 2,442 1,061
Analysis ofVoids f000 f000
Voids Irom lettable properties 1,965 1,875
Total Voids 1,965 1,875

3a
PARTICULARS OFTURNOVER,		 OPERATING EXPENDITURE AND OPERATING EXPENDITURE AND OPERATING EXPENDITURE AND
OPERATING SURPLUS
2020/21 2020/21 2020/21
Operating Operating
Turnover Expenditure Surplus/(Deficit)
f000 8000 f000
Social Housing Lettings (Note 3b) 22,767 20,723 2,044
Other Social Housing Activities
Charges for support services 10,719 10,657 62
Total Social Housing 33,486 31,380 2,106
Activities other than Social Housing 14,042 13,706 336
Total Non- Social Housing 14,042 13,706 336
Total 47,528 45,086 2,442
3a
PARTICULARS OFTURNOVER,		 OPERATING EXPENDITURE AND
OPERATING SURPLUS
2019/20 2019/20 2019/20
Operating Operating
Turnover Expenditure Surplus/(Deficit)
f000 f000 f000
Social Housing Lettings (Note 3b) 21,288 20,429 859
Other Social Housing Activities
Charges for support services 10,471 10,321 150
Total Social Housing 31,759 30,750 1,009
Activities other than Social Housing 13,482 13,295 187
Total Non- Social Housing 13,482 13,295 187
Total 45,241 44,045 1,196

Social Housing Social Housing
2020/21 2019/20
Income 5000 "2000
HB eligible rent &service charges 18,220 17,585
HB ineligible rent &service charges 803 789
Amortised
government		 grants 508 552
Other grants 3,236 2,362
Turnover
from Social		 Housing Lettings 22,767 21&288
Operating
Expenditure
Management 5,526 4,475
Service Charge Costs 8,865 8,770
Routine Maintenance 2,755 3,282
Planned Maintenance 938 1,310
BadDebts 242 456
Depreciation ofhousing properties 1,025 1,064
Depreciation ofother tangible fixed assets 268 365
Other costs 1,104 707
Operating
Expenditure		 on Social Housing Lettings 20,723 20,429
Operating
Surplus		 2,044 859
Void Losses 1,965 1,875

4
GRANTS AND DONATIONS RECEIVABLE		 4
GRANTS AND DONATIONS RECEIVABLE		 4
GRANTS AND DONATIONS RECEIVABLE
2020/21 2019/20
f000 %000
STATUTORY SOURCES
Leicester, Leicestershire &Rutland Councils (Edwin) 478 521
MHCLG - City ofLincoln Council 561 550
MHCLG- Nottingham City 746 570
MHCLG Sheffield 30 30
Nottingham
City CDP		 (MVH ) 28 28
Nottingham
City Council (Rough		 Sleepers) 235 235
Nottingham
City CDP		 (Clean Slate) 946 982
Nottingham
City CDP		 (Nottingham Recovery Network) 4,084 4,278
Notlingham
City CCG		 Mental Health &Wellbeing 314 375
Nottingham
City CDP		 (HALT) 112 134
Nottingham
City Council (Edwin)		 284 284
Sheffield City Council (Street outreach) 194 197
MHCLG - Ashfield DC (SOT County) 652 390
Nottingham
Citycare Partnership
(HISU)		 112
Other Statutory Grants 244 150
Total 9,020 8,724
SPECIFIC CHARITABLE SOURCES
BBC-CIN (EVE) 18 26
BigLottery Fund (Opp Nottm) 1,429 1,556
Heritage Funding
(Nature in Mind)		 80
BigLottery (Opportunity
&Change)		 1,422 1,476
SSBC(Family Mentor &Aspley Mentor) 1,068 742
BigLottery (Homeless to Home) 66 136
BBOLinc - UC Move 28 34
Other Specific Grants 24 2
Total 4,055 4,052
OTHER GRANTS AND DONATIONS
Grants and Donations 997 633
Total 997 633
Grand Total 14,072 13409

FOR THE YEAR ENDED 31stMARCH 2021 (C ONTINIJED)
5
FINANCE INCOME
2020/21 2019/20
f000 f000
Bank interest receivable 23
23
6
INTEREST AND FINANCING COSTS
2020/21 2019/20
f000 f000
Bank loans and overdraits 222 279
Costs associated with financing
Net interest on defined benefit liability (Note 16) 26 25
248 304
Borrowing costs capitalised
at 1.95%-2020(2.6%)		 ~(42 (35)
206 269
7
SURPLUS FORTHE YEAR
2020/21 2019/20
f000 %000
Surplus for the year is stated after charging:
Depreciation
on housing properties		 1,103 1,064
Depreciation
on other fixed assets		 286 365
External Auditor's
Remuneration
(excluding VAT)
-Audit-related
assurance services		 25 22
Operating
lease charges on land and buildings		 1,927 1,896
Operating
lease charges on other assets		 167 131
8
TAXATION

9
STAFFCOSTS		 9
STAFFCOSTS		 9
STAFFCOSTS
2020/21 2019/20
f000 f000
Staffcosts including directors:
Wages and salaries 22,921 21,702
Redundancy
costs		 80 62
Social security costs 1,617 1,504
Other pension costs 985 1,018
Total 25,603 24)286
The full Time Equivalent number ofstaff who received emoluments, including pension
contribution,
in excess off60,000 are		 shown below.
2020/21 2019/20
No. No.
Salary Band f000
60,000 - 69,999
70,000 —79,999
80,000 —89,999
90,000 —99,999
100,000-109,999
Average number offull time equivalent persons (FTE)employed: 2020/21 2019/20
No. No.
Restated
Supported
Housing		 502 439
Tenancy Sustainment 155 120
Fundraising
and Communications		 8 6
Management
and Administration		 (Central Office) 81 70
Care Home 81 69
Non Housing related service staff 291 247
Average number ofFTEemployees during the year 1,118 951

10
DIRECTORS' REMUNERATIO
Key management
personnel
remuneration		 N
AND TRAN		 SACTIONS
2020/21 2019/20
f000 f000
Directors who are executive staff members
Wages and salaries 402 364
Loss ofOffice payment 30
Social security costs 46 42
Other pension costs Page 45 24 26

s
2020/21 2019/20
F000 8000
84

Properties
in		 Properties
in		 Properties
in		 Plant and
Management Development Equipment Total
f000 f000 f000 %000
COST
At 1stApril 2020 68,666 2,359 1,442 72,467
Additions
during the year		 5,404 403 5,807
Capitalised
Repairs		 87 87
Transferred
on completion		 2,756 (2,756)
Disposals during the year (37) (3/)
Total at 31stMarch 2021 71,472 5,007 1,845 78,324
DEPRECIATION
At 1stApril 2020 9,449 1,238 10,687
Charge for the year 1,103 286 1,389
Disposals during
the year		 (3'7) 0 (37)
Total at 31stMarch 2021 10,515 1,524 12,039
NET BOOK VALUE
At 1stApril 2020 59,217 2,359 204 61,780
At 31stMarch 2021 60,957 5,007 321 66,285
Included in properties
in management		 is Anvil House (formerly "Scotter House" )which is
subject to a60year lease at anet book value of51,676k.
Expenditure
on own properties		 2020/21 2019/20
f000 8000
Capitalised
development		 costs 5,404 1,264
Repairs and Maintenance charged to operating
expenditure		 686 775
Total expenditure
on own properties		 6,090 2,039

12
DEBTORS
2021 2020
f000 f000
AMOUNTS FALLING DUE WITHIN ONE YEAR
Rent, service, support
snd community
care charges (Note
Less: Provision for bad debts
Net rent, service and support charges		 below) 1,070
1,063
(390) ~299)
770
764
Prepayments
and accrued income		 616 1,004
Grants snd loans receivable 1,600 2,145
Other taxation and social security 6
Debtors at 31stMarch 2,992 3,913
No disclosure has been made ofthe amount ofthe net present value adjustment
where a
repayment
schedule is in place as the amount is considered		 to be minimaL
13
CASH AND INVESTMENTS
2021 2020
f000 f000
Cash 115 207
Current Account 9,793 10,285
Cash and Investments
at31stMarch		 9,908 10&492
14
CREDITORS
2021 2020
AMOUNTS FALLING DUE WITHIN ONE YEAR F000 f000
Accruals and deferred income 3,400 2,000
Trade creditors 1,639 3,941
Other creditors 572 541
Other creditors
—Covid related provision		 135
Other taxation and social security 136
Government
grants (Note 15b)		 508 502
Principal Loan repayments
(Note 15a)		 482 467
Creditors at31stMarch 6,737 7,586

AMOUNTS FALLIN
THAN ONE YEAR		 G DUE AFTER MORE
2021 2020
f000 f000
Long Term Loans 9,567 9,547
Deferred Government Grants 35,069 33,577
44,636 43,124
2021 2020
f000 f000
Loans repayable by instalments
Within one year or less 482 467
More than one year but not more than two years 493 477
More than two years but not more than five years 1,408 1,493
More than five years 7,666 7,577
10,049 10,014

2021 2020
g000 g000
Deferred capital grant as at 1stApril 34,064 33,198
Grants received in the year 2,021 1,418
Grant repayments
during the year		 0 (74)
Amortised to Statement ofComprehensive Income (508) (478)
Deferred capital grant as at 31March 35,577 34,064
Amount to be released within one year 508 487
Amount to be released after one year 35,069 33,577

At 31 At31
March March
2021 2020
'/o '/o
Rate ofincrease in salaries 3.85/0 2.80/0
Rate ofincrease for pension in payment/inflation 2.85'/o 1.80'/0
Discount rate for scheme liabilities 2.05'/0 2 350/0
Inflation assumption (CPI) 2.850/0 1.80/0
Ithas been assumed that members will exchange half their communtable pension for cash atretirement.

mortality
rates.		 The assumed l ife expectat ions on retirement
age 6		 5 are:
At 31 At 31
March March
2021 2020
Retiring today Years Years
Males 21.9 21.8
Females 24.5 24.4
Retiring in 20years
Males 23.3 23.2
Females 25.9 25.8
The estimated asset allocation for the Association as at 31March 2021 is a follows:
At 31 At 31
March March
2021 2020
Equities 64% 64%
Gilts 4 3%
Other Bonds 7% 9%
Property 11% 13%
Cash 5% 2%
Inflation-linked pooled fund 4 4%
In&astructure 5% 5%
Total 100% 100o/
Analysis ofthe amount charged to operating costs in the
Statement ofComprehensive Income.
At 31 At 31
March March
2021 2020
f000 f000
Employer service cost (net of
Total operating
charge		 employee contributions) (69)
(99)
~69 ~993
Analysis ofpension finance income/(costs)
Expected return on pension scheme assets (45) (51)
Interest on pension liabilities 71 76
Amounts
charged/(credited)		 to financing costs 26 25
Amount ofgains and losses recognised in the Statement of
Comprehensive Income
Actuarial
losses on pension scheme assets.
Actuarial
gains on scheme liabilities
Actuarial
(loss)/gain
recognised		 (1,243)
343
379~2393
~8643
164

16
PENSION OBLI		 GATION S (continued) (continued) (continued) (continued)
The amount included
in the		 Statement ofFinancial Position arising from the Association's
obligations
in respect ofits		 defined benefit retirement benefit scheme is as follows:
At 31 At 31
March March
2021 2020
Movement
in surplus/(deficit)
during		 year f000 f000
(Deficit) in scheme at 1April (1,126) (1,067)
Movement
in year
Employer service cost (135) (200)
Employer
contributions		 66 63
Return on assets 341 (348)
Remeasurements (1,232) 426
(Deficit) in scheme at31March ~2,086)~1,126
Asset and Liability Reconciliation
At 31 At 31
March March
2021 2020
OOOO f000
Opening
defined benefit obligation		 3,013 3,135
Service Cost 135 200
Interest Cost 71 76
Change in financial assumptions 1,272 (339)
Change in demographic
assumptions		 (89)
Experience (gain)/loss
on defined benefit obligation		 (29) 81
Estimated benefits paid net oftransfers in (11) (79)
Past service costs, including curtailments 38
Contributions
by Scheme participants		 snd other employers 26 28
Closing defined benefit obligation 4,477 3,013
Assets at start ofperiod 1,887 2,068
Interest on assets 45 51
Return on assets less interest 379 (239)
Other actuarial (losses) (4)
Administration
Expenses		 (1) (1)
Contributions
by employer		 including unfunded 66 63
Contributions
by Scheme participants		 and other employers 26 28
Estimated benefits paid net ofnansfers in (11) (79)
Assets at end ofperiod 2,391 1,887
Actual return on plan scheme assets 424 (192)

19
CAPITAL COMMITMENTS		 2021 2020
8000 f00ll
Capital expenditure
contracted for at31stMarch
but not provided
for in the financial statements		 1,799 1,785
Less funding allocations (927) (484)
Internal
funding commitment		 872 1,301
20
OTHER FINANCIAL COMMITMENTS
Total future minimum
lease paymeats		 under nonuanceflabte operating leases are
as follows:
2021 2020
Land and 2021 Land and 2020
Buildings Other Buildings Other
8000 8000 f000 f000
Operatmg
leases which expire:
Within one year 1,822 167 1,868 140
Within two to five years 1,218 55 2,036 55
Atter Five years 1,495 55 2,021 55
~4535 277 5,925 250
21
HOUSING STOCK
NUMBER OFUNITS IN MANAGEMENT 2021 2020
Social Housing Na. No.
Social rest supported
housing		 952 936
Affordable rest supported
housing		 123 123
Care Homes 63 63
Social housing
units managed
but not		 owned 86 113
TOTAL 1,224 1,235
RECONCILIATION
OFMOVEMENT OF UNITS IN		 MANAGEMENT 2021 2020
No. No.
Opening
Units in Management		 1,235 1,216
Newly bui1t rental accomodation 24
Afl other gains from ouaide existing social housing stock 23 8
Sales to the open market (4)
Loss ofsocial housing due to end oflease (26) (6)
Afl other losses to existing housing stock (5)
New ofmanagal
units		 21
loss ofmaaaged
units		 (27)
Closing Units in Management 1,224 1,235
22
LEGISLATIVE PROVISIONS
The Association is incorporated
under the Companies		 Act 2006 and is aRegistered Social
Landlord,
23
DESIGNATED RESERVES		 2021 2020
Reserves (Liquid - Minimum
Cash)		 4,500 4,500
Reserves (Liquid
—Afiocated to Development		 Progtmune) 1,663 2,319
Reserves (Non - Liquid - Property ) 19,563 17,530
~25 726 24,349