# # ## |INDEX|||| |---|---|---|---| ||||Page| |INFORMATION|||| |STRATEGIC REPORT|||3 —26| |BOARD REPORT|||27 —28| |INDEPENDENT
AUDITOR'S|REPORT||29 —32| |STATEMENT OF COMPREHENSIVE||INCOME|33| |STATEMENT OF FINANCIAL|POSITION||34| |STATEMENT OF CHANGES|IN RESERVES||35| |STATEMENT OF CASH FLOWS|||36| |NOTES TO THE FINANCIAL|STATEMENTS||37-55| ## ## |THE BOARD||||||| |---|---|---|---|---|---|---| |Rebecca Rance|(Appointed
as Chair from 17.09.20, resigned||from|16.03.22)||| |Ruth Hawkins|(Appointed
as interim
Chair from 26.03.22)|||||| |Patrick Mitchell|(Appointed
as Vice Chair from 15.11.20)|||||| |Louise Harris|(Appointed
as interim
Chair of Audit and Risk||Management|||Committee| ||from 14.04.2022)|||||| |Debbie Maitland|(Chair of Governance,
Remuneration|&Appraisal||Committee)||| |Carrie McNabb|(Resigned 10.01.2022)|||||| |Jane Geraghty|Vinay Shankar
Nigel Turner|||||| |Tim Gallimore|Catherine
Arkley|||||| |SENIOR LEADERSHIP TEAM||||||| |Andrew
Redfern|Chief Executive|||||| |Suzanne
Williamson|Director of Finance, Governance
and|Risk||||| |Claire McGonigle|Operations
Director|||||| |Lisa Del Buono|Services Director (Resigned
on 29.08.21)|||||| |Dave Smith|Services Director|||||| |Apollos Clifton-Brown|Director of Health and Social Care|||||| |Dave Newmarch|Director of Corporate Services|||||| |COMPANY|Suzanne
Williamson|||||| |SECRETARY:||||||| |REGISTERED|Val Roberts House, 25 Gregory Boulevard,|||||| |OFFICE:|Nottingham
NG7 6NX|||||| ||Tel: (0115)841 7711
E-Mail: infoframeworkha.||||org|| |AUDITORS'|Beever and Struthers,
St George's|House,|215-219 Chester 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||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Corporate Objective|Corporate Objective|Corporate Objective|Key Targets|| |---|---|---|---|---| |1.|Growth||Provision
of at least 200 purpose-built
housing
units over the life
of the plan, including
core 'hostel' replacements,
housing
first|| ||||and move-on flats|| ||||Engagement
with at least 19,200 individual
service users
in the|| ||||year to March 2023, rising to 21,000or more by 2026/27|| ||||A more comprehensive
offer comprising
elements
of housing,|| ||||health,
support
and employment
across the whole of|| ||||Nottinghamshire
and Lincolnshire
by March 2027 (the entirety|of| ||||which would not necessarily
be delivered
by Framework)|| |2.|Standards||Compliance
with all four the Regulator
of Social Housing's
Consumer
Standards as demonstrated
by Annual
Self-|| ||||Assessments|| ||||Compliance
with the requirements
of the Care Quality|| ||||Commission,
the Charity Commission,
the Health
&Safety|| ||||Executive,
Information
Commissioner,
Fundraising
Standards|| ||||Board and OfSted as relevant to the service being delivered|| ||||Successful delivery ofa Consolidation
Strategy to replace 80%|| ||||of existing shared
housing
units with self-contained
provision|| ||||over the five-year
life of this plan|| ||||Purpose-built
replacements
for the existing properties
at London|| ||||Road, Fritchley Court and Trent Boulevard subject to the|| ||||continuing
need for them
in commissioned
services|| |3.|System Change||Active Participation
in the Governance
of at least two Integrated
Care Systems (targeting
Nottinghamshire
and Lincolnshire)|| ||and Joined-Up
Services||At least one piece of published
research
on the outcomes of
System Change and another on the Future of Supported|| ||||Housing|| ||||Membership
of at least one national
Working/
Task &Finish|| ||||Group (eg. NHF, Homeless
Link, DLUHC, UKSHA etc.) in each|| ||||of the five years covered by this Plan|| ||||Evaluation
of the Nottingham
'Changing
Futures'
Programme|| ||||and dissemination
of the learning
from
it|| |4.|Organisationai||A 3.0%Operating
Margin,
rising to4.0% in 2025/26 &2026/'27)
and covenant
compliance|| ||Strength|and|A further real-terms
reduction
of at least 5% in the unit cost of|| ||Resilience||services (per user)|| ||||All ongoing services covering their overheads
and contributing|to| ||||the margin|| ||||Effective housing
8 asset management,
ICT and service user|| ||||record keeping systems|| |STRATEGIC REPORT|STRATEGIC REPORT|(continued)|(continued)||| |---|---|---|---|---|---| |Corporate Objective||Key Targets|||| |||&|An increase from two to four in the number
of|service user|| |5.|Service User||representatives
who are trained to participate|in governance|| ||Participation||(Board and Committee
meetings)||| ||and|&|Reinvigoration
of the Service User Advisory
Group through||a| ||Empowerment||post-Covid
resumption
of in-person
meetings|promoted
by|| ||||'champions'
within staff teams||| |||&|Extension
in the role of resident and service user representatives||| ||||in repairs
monitoring
to include the recruitment|of Board|| ||||members
8 senior staff, the design of new services, health||&| ||||safety assurance
and making the case for 'System Change'||| |6.|Valuing our|&|Devolution
of budget management,
informed
statements
at service level|by monthly|| ||People|&|A 7% reduction
in the ratio of staff to service|users, concomitant|| ||||with a continuing
shift towards
community-based
services||over| ||||the life of the plan||| |||&|An increase
in the proportion
of black and brown staff among||| ||||(Service, Operations
and Senior) Managers|to at least 10%|| ||||over the life of the plan||| ## ## |The RSH|VFM metrics for 2021/22 have been|calculated
in|accordance||with the VFM standard|with the VFM standard| |---|---|---|---|---|---|---| |(technical|note) and are presented
below with previous year||comparators:|||| |VfM|Description|Framework|Framework|Framework||Social Hsg| |Measure||2022/'23|2021'22||2020/'21|Median| |||(Budget)||||2020/'21| ||Reinvestment
by Cost|10.24%|11.82%||8.32%|580'/| ||New supply delivered
by Units|464/|5.97%||2.11%|1 30%| ||Gearing|9.03%|3.66%||0.21%|43.90%| ||EBITDA-MRI Interest Cover|530.98%|558.13%||1,227.65%|183.00%| ||Headline
Social Housing Cost per Unit|824.9k|F24.8k||E24.5k|E3.73k| ||a) Operating
Margin
Overall|4.42%|4 15o/||8.98%|2390%| ||b) Operating
Margin on Social Housing|2.54%|2.57%||5 14/|26.30%| ||Return
on Capital Employed|1 57'/|1.63%||3.37%|3.30%| |Standard|Metrics
1 (Reinvestment
by Cost) and 2 (New Supply) are both||||sensitive|to the actual| |level of development
within
the financial year.||Framework's|development||activity|is dependent| |on the availability
of capital funding
and suitable sites, both|||of which change from year to year.|||| ## ## ## |Framework|VfM Measure|Budget|2021/'22|2020/'21| |---|---|---|---|---| |||2022/'23 (R)|(&)|(R)| |Cost per Service User by Pillar:||||| |Housing||11,882|11,393|11,527| |Health||1,278|1,367|1,162| |Employment||928|894|1,297| |Support||1,566|1,781|1,924| |Cost per Hour ofService by Pillar:||||| |Housing
Health||27.88
38.94|23.34
29.63|24.51
30.34| |Employment
Support||30.68
21.36|26.45
17.77|26.24
19.69| |Central Cost as a%ofthe Total||15.51%|15.98%|1734%| ## ## ## ## ## ## ## ## ## ## ## |BOARD REPORT|BOARD REPORT||||||| |---|---|---|---|---|---|---|---| |BOARD MEMBERSHIP|||||||| |The members
below, who are considered
directors for Company|||Law purposes,||have served||in| |office from 1st April 2021 to the date of this report except where|||otherwise|indicated.|||| |Ruth Hawkins|Appointed
as Interim|Chair from 26.03.22, substantive
role||||Chair of ARM|| ||Committee||||||| |Rebecca Rance|Chair of the Board, resigned
from 16.03.22||||||| |Patrick Mitchell|Vice Chair||||||| |Louise Harris|Appointed as Interim|Chair of Audit and|Risk Management|||Committee|| ||from 14.04.2022||||||| |Debbie Maitland|Chair of Governance,|Remuneration
8 Appraisal
Committee|||||| |Carrie McNabb|Resigned 10.01.2022||||||| |Jane Geraghty|Vinay Shankar
Nigel Turner|Tim Gallimore|Catherine|Arkley|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Note|2021/22|2020/21| |---|---|---|---|---| ||||f000|f000| |Turnover|||50,504|47,528| |Operating
expenditure|||{49,208|45,086| |Operating
surplus|||1,296|2,442| |Surplus on disposal of|property|||| |Finance income||||| |Interest and financing costs|||(196)|(206)| |Surplus for the year|||1,101|2,241| |Actuarial
gain in respect ofpension schemes||16|430|(864)| |Total comprehensive|income for the year||1,531|1,377| ## |||Note|2021/22|2020/21| |---|---|---|---|---| ||||f000|%000| |FIXEDASSETS||||| |Tangible assets:||||| |Property,
Plant and Equipment|||87,537|78,324| |Depreciation|||(13,589)|(12,039)| ||||73,948|66,285| |CURRENT ASSETS||||| |Debtors||12|3,427|2,992| |Cash and Investments||13|9,189|9,908| ||||12,616|12,900| |CREDITORS: AMOUNTS FALLING||||| |DUE WITHIN ONK YEAR||14|(6,970)|(6,737)| |NET CURRENT ASSETS|||5,646|6,163| |TOTAL ASSETSLESS||||| |CURRENT LIABILITIES|||79,594|72,448| |CREDITORS: AMOUNTS FALLING||||| |DUE AFTER MORE|THAN ONE YEAR|||| |Deferred government
grants||15b|39,193|35,069| |Long Term Loans||isa|11,324|9,567| |Defined benefit pension|liability|16|1,820|2,086| ||||52,337|46,722| |NET ASSETS|||27,257|25,726| |CAPITAL AND RESERVES||||| |Called up Share Capital||17||| |Designated
Reserves||23|27,257|25,726| ||||27,257|25,726| ## |INCOM|E &EXPKNDITIJRK RESERVES||| |---|---|---|---| |||Note|| ||||f000| |At 1stApril 2021|||25,726| |Surplus for year|||1,101| |Actuarial|gain in respect ofpension schemes|16|430| |Revenue|Reserves as at 31stMarch 2022||27,257| ||||OOOO| |At 1stApril 2020|||24,349| |Surplus|for year||2,241| |Actuarial|gain in respect ofpension schemes|16|(864)| |Revenue|Reserves as at 31stMarch 2021||25,726| ## |||||Note|2021/22|202Q/21| |---|---|---|---|---|---|---| ||||||f000|OOOO| |Cash generated
from operating|activities|||||| |Surplus for the year|||||1,101|2,241| |Adjustment
for non cash items||||||| |Depreciation ofproperty,
plant and equipment||||11|1,550|1,389| |(increase)/Decrease
in Debtors||||12|(435)|921| |Increase/(Decrease)
in Creditors||||14|164|(864)| |Pension costs less contribution
payable||||16|214|141| |(Profit) on disposal ofproperty,|plant and equipment|||||0| |Government
grants utilised
in the year||||15b|(555)|(508)| |Adjustment
between creditors due less than||1 yr and greater than|1 year||(24)|| |Interest received|||||(1)|(5)| |Interest payable|||||196|206| |Amounts
charged to financing
costs|||||(50)|(45)| |Cash generated
by operating
activities|||||2,160|3,476| |Cash fiows from investing
activities||||||| |Purchase ofproperty,
plant and|equipment||||(9,213)|(5,894)| |Proceeds from the sale ofproperty,
plant and equipment||||||0| |Grants received|||||4,760|2,021| |Interest received|||||6|| |Net cash flows from investing|activities||||4,447|3 873| |Cash flows from financing
activities||||||| |Interest Paid|||||(258)|(222)| |New Loans|||||2,300|500| |Loan repayments|||||(474)|(465)| |Net cash flows from financing|activities||||1,568|187| |Net(decrease)/increase
in cash and cash||equivalents|||719|584| |||||Note|2021/22|2020/21| ||||||KQOQ|f000| |Cash and cash equivalents
at|beginning|ofyear||13|9,908|10,492| |Net (decrease)/increase
in cash|and cash equivalents||||(719)|(584)| |Cash and cash equivalents
at|end ofyear|||13|9,189|9,908| ## ## ## ## ## ## ## ## ## ## ## ## |useful eco|nomic lives at the follo|wing
ann| |---|---|---| |Land||nil| |Buildings-|Superstructure|1.25%| |Buildings-Roof||2%| |Buildings-Heating
Systems||2.5%| |Buildings|- Electrical systems|3%| |Buildings|- Fixtures &Fitting:|5%| |Furniture|and Equipment|33%| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |TURNOVER|,|OPE|RATING COSTS AND OP|ERATING SURPLUS|| |---|---|---|---|---|---| |||||2021/22|2020/21| |TURNOVER||||NOO|f,000| |Rent and service charges receivable||||18,007|17,441| |Community
care contracts||||1,340|1,582| |||||19,347|19,023| |Statutory revenue income||(Note 4)||10,754|9,020| |Housing Related Support contracts||||11„700|11,333| |Amortised
government|grant|||555|508| |Specific charitable
income||(Note 4)||4,436|4,055| |||||46,792|43,939| |Non specific charitable|giving||(Note 4)|762|997| |Other||||2,950|2,592| |TOTAL TURNOVER||||50,504|47,528| |OPERATING COSTS|||||| |Services||||34,056|30,959| |Management||||9,247|9,161| |Maintenance||||3,439|2,983| |Development||||237|167| |Fund raising||||253|196| |Bad debts||||426|231| |Depreciation||||1,550|1,389| |TOTAL OPERATING COSTS||||49,208|45,086| |OPERATING SURPLUS FORTHE YEAR||||1,296|2,442| |Analysis ofVoids||||f,000|f000| |Voids &om lettable properties||||2,207|1,965| |Total Voids||||2,207|1,965| ## |3a
PARTICULARS OFTURNOVER,|OPERATING EXPENDITURE AND|OPERATING EXPENDITURE AND|OPERATING EXPENDITURE AND| |---|---|---|---| |OPERATING SURPLUS|||| ||2021/22|2021/22|2021/22| |||Operating|Operating| ||Turnover|Expenditure|Surplus/(Deficit)| ||fOOQ|f000|f000| |Social Housing
Lettings (Note 3b)|24,065|23,067|998| |Other Social Housing Activities|||| |Charges for support services|11,226|11,151|| |Total Social Housing|35,291|34218|1,073| |Activities other than Social Housing|15,213|14,990|223| |Total Non- Social Housing|15,213|14,990|223| |Total|50,504|49,2Q8|1,296| |3a
PARTICULARS OFTURNOVER, OPERATING EXPENDITURE AND|||| |OPERATING SURPLUS|||| ||2020/21|2020/21|2020/21| |||Operating|Operating| ||Turnover|Expenditure|Surplus/(Deficit)| ||%000|f000|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|33486|31,380|2,106| |Activities other than Social Housing|14,042|13,706|336| |Total Non- Social Housing|14,Q42|13,706|336| |Total|47,528|45,086|2,442| ## |||Social Housing|Social Housing| |---|---|---|---| |||2021/22|2020/21| |Income||f000|f000| |HB eligible rent &,service charges||18,552|18,220| |HB ineligible
rent &service charges||795|803| |Amortised
government|grants|555|508| |Other grants||4,163|3,236| |Turnover
from Social|Housing Lettings|24,065|22,767| |Operating
Expenditure|||| |Management||5,516|5,526| |Service Charge Costs||9,785|8,865| |Routine Maintenance||3,326|2,755| |Planned Maintenance||1,014|938| |Bad Debts||426|242| |Depreciation ofhousing|properties|1,090|1,025| |Depreciation ofother tangible Axed assets||364|268| |Other costs||1,546|1,104| |Operating
Expenditure|on Social Housing Lettings|23,067|20,723| |Operating
Surplus||998|2,044| |Void Losses||2,207|1,965| ## ## ||||||2021/22|2020/21| |---|---|---|---|---|---|---| ||||||f000|f.000| |STATUTORY SOURCES||||||| |Leicester, Leicestershire &Rutland Councils (Edwin)|||||718|478| |MHCLG - City ofLincoln Council|||||627|561| |MHCLG- Nottingham|City||||800|746| |MHCLG Sheffield|||||30|30| |Nottingham
City CDP|(MVH )||||28|28| |Nottingham
City Council (Rough||Sleepers)|||350|235| |Nottingham
City CDP|(Clean Slate)||||1,196|946| |Nottingham
City CDP|(Nottingham||Recovery Network)||4,675|4,084| |Nottingham
City CDP|(Edwin)||||235|| |Nottingham
City CCG|Mental Health &Wellbeing||||181|314| |Nottingham
City CDP|(HALT)||||95|112| |Nottingham
City Council (Edwin)|||||284|284| |Sheffield City Council|(Street outreach)||||191|194| |MHCLG - Ashfield DC (SOTCounty)|||||636|652| |Nottingham
Citycare Partnership||(HISU)||||112| |Homes England (RSAP)|||||204|| |Other Statutory Grants|||||504|| |Total|||||10,754|9,020| |SPECIFIC CHARITABLE SOURCES||||||| |BBC-CIN (EVE)|||||9|18| |BigLottery Fund (Opp|Nottm)||||1,373|1,429| |BigLottery (Opportunity
&Change)|||||1,476|1,422| |SSBC(Family Mentor|&Aspley|Mentor)|||1,292|1,068| |BigLottery (Homeless|to Home)||||229|66| |BBOLinc - UC Move|||||31|28| |Other Specific Grants|||||26|24| |Total|||||4,436|4,055| |OTHER GRANTS AND DONATIONS||||||| |Grants and Donations||||||997| |Total|||||762|997| |||||Grand Total|15,952|13,409| ## ## |FINANCE IN|CO|ME|||| |---|---|---|---|---|---| |||||2021/22|2020/21| |||||f000|%000| |Bank interest receivable|||||| |INTEREST AND FINANCING COSTS|||||| |||||2021/22|2020/21| |||||OOOO|f,000| |Bank loans and overdrafts||||258|222| |Costs associated with financing|||||| |Net interest on de6ned benefit liability (Note 16)||||42|26| |Borrowing costs capitalised||at 1.95%-2021(1.95%)||300
~104|248
~42| |||||196|206| |SURPLUS FOR||THE|YEAR||| |||||2021/22|2020/21| |||||f,000|f000| |Surplus for the year is|stated after charging:||||| |Depreciation
on housing|properties|||1,185|1,103| |Depreciation
on other fixed||assets||364|286| |External Auditor's
Remuneration|||(excluding VAT)||| |-Audit-related
assurance|services|||25|| |Operating
lease charges|on|land and buildings||1,899|1,927| |Operating
lease charges|on|other|assets|182|167| |8
TAXATION|||||| ## ## |||||2021/22|2020/21| |---|---|---|---|---|---| |||||f000|f000| |Staff costs including|directors:||||| |Wages and salaries||||24,420|22,921| |Redundancy
costs||||22|80| |Social security costs||||1,809|1,617| |Other pension costs||||956|985| |Total||||27,207|25,603| |The full Time Equivalent
number||ofstaff who received emoluments,||including|pension| |contribution,
in excess off60,000||are|shown below.||| |||||2021/22|2020/21| |||||No.|No.| |Salary Band f000|||||| |60,000 —69,999|||||| |70,000 - 79,999|||||| |80,000 - 89,999|||||| |90,000 —99,999|||||| |Average number offull time equivalent|||persons (FTE)employed:|2021/22|2020/21| |||||No.|No.| |Supported
Housing||||570|502| |Tenancy Sustainment||||178|155| |Fundraising
and Communications||||9|8| |Management
and Administration||(Central Office)||93|81| |Care Home||||94|81| |Non Housing related|service staff|||293|291| |Average number ofFTEemployees|||during the year|1,337|1,118| ## |10
DIRECTORS' REMUNERATION
AND T
Key management
personnel
remuneration|RANSACTIONS|| |---|---|---| ||2021/22|2020/21| ||F000|f000| |Directors who are executive staff members||| |Wages and salaries|463|402| |Loss ofOffice payment||| |Social security costs|53|46| |Other pension costs|26|24| ## ## ## ## ## ## |||Properties
in|Properties
in|Properties
in|Plant and|| |---|---|---|---|---|---|---| |||Management||Development|Equipment|Total| ||||f000|OOOO|f,000|f000| |COST||||||| |At 1stApril 2021|||71,472|5,007|1,845|78,324| |Additions
during
the year|||6|8,415|532|8,953| |Capitalised
Repairs|||260|||260| |Transferred
on completion|||7,407|(7,407)||| |Disposals during the year||||||| |Total at 31stMarch 2022|||79,145|6,015|2377|87,537| |DEPRECIATION||||||| |At 1stApril 2021|||10,515||1,524|12,039| |Charge for the year|||1,186||364|1„550| |Disposals during
the year||||||| |Total at 31stMarch 2022|||11,701||1,888|13,589| |NET BOOKVALUE||||||| |At 1stApril 2021|||60,957|5,007|321|66,285| |At 31stMarch 2022|||67,444|6,015|489|73,948| |Included
in properties
in|management||is Anvil House (formerly||"Scotter House" )which is|| |subject to a 60 year lease|at anet|book|value of|E1,676k.||| |Expenditure
on own properties|||||2021/22|2020/21| ||||||f,000|f000| |Capitalised
development|costs||||8,421|5,404| |Repairs and Maintenance|charged|to operating
expenditure|||902|686| |Total expenditure
on own properties|||||9,323|6,090| ## |FORTHE YEAR ENDED 31s
12
DEBTORS|tMARCH 2022||| |---|---|---|---| |||2021/22|2020/21| |||f000|f000| |AMOUNTS FALLING DUE WITHIN ONE YEAR|||| |Rent, service, support
and community|care charges (Note below ~)|1,326|1,070| |Less: Provision for bad debts||343|300| |Net rent, service and support charges||983|770| |Prepayments
and accrued income||763|616| |Grants and loans receivable||1,680|1,600| |Other taxation and social security||1|6| |Debtors at31stMarch||3,427|2,992| |*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|||| |||2021/22|2020/21| |||f000|f000| |Cash||86|115| |Current Account||9,103|9,793| |Cash and Investments
at 31stMarch||9,189|9,908| |14
CREDITORS|||| |||2021/22|2020/21| |AMOUNTS FALLING DUE WITHIN ONE YEAR||NOO|f.000| |Accruals and deferred income||3,290|3,400| |Trade creditors||2,319|1,639| |Other creditors||75|572| |Other taxation and social security||146|136| |Government
grants (Note 15b)||589|508| |Principal Loan repayments
(Note 15a)||551|482| |Creditors at 31stMarch||6,970|6,737| ## ## ## |AMOUNTS FALLIN
THAN ONE YEAR|G DUE AFTER MORE||| |---|---|---|---| |||2021/22|2020/21| |||f000|f000| |Long Term Loans||11,324|9,547| |Deferred Government|Grants|39,193|33,577| |||50,517|43,124| ## ## |||2021/22|2020/21| |---|---|---|---| |||f000|f000| |Loans repayable|by instalments||| |Within one year or less||551|467| |More than one|year but not more than two years|612|477| |More than two|years but not more than five years|1,918|1,493| |More than five|years|8,794|7,577| |||11,875|10,014| ## ||||2021/22|2020/21| |---|---|---|---|---| ||||f000|f000| |Deferred|capital grant as at 1stApril||35,577|34,064| |Grants received in the year|||4,760|2,021| |Grant repayments
during the year|||0|0| |Amortised
to Statement ofComprehensive||Income|(555)|(508)| |Deferred|capital grant as at 31March||39,782|35,577| |Amount|to be released within one year||589|508| |Amount|to be released after one year||39,193|35,069| ## ## ## ## ## ## ## ||||At 31st|At 31st| |---|---|---|---|---| ||||March|March| ||||2022|2021| ||||0/|0/| |Rate ofincrease in salaries|||4.15%|3.85%| |Rate ofincrease for|pension in payment/inflation||3.15%|2.85%| |Discount rate for scheme liabilities|||2.60%|2.05%| |Inflation assumption|(CPI)||3.15%|2.85%| |Ithas been assumed|that members|will exchange half their communtable|pension for|cash at retu| ## ## |mortality r|ates.||The ass|um|ed li|fe expectati|ons|on|retirement
age 6|5 are:|| |---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||At 31st|At 31st| |||||||||||March|March| |||||||||||2022|2021| |Retiring today||||||||||Years|Years| |Males||||||||||22.0|21.9| |Females||||||||||24.5|24.5| |Retiring in 20||years|||||||||| |Males||||||||||23.4|23.3| |Females||||||||||26.0|25.9| |The estimated||asset allocation||||for the Association|||as at 31March|2021 is afollows:|| |||||||||||At 31st|At 31st| |||||||||||March|March| |||||||||||2022|2021| |Equities||||||||||62%|64%| |Gilts||||||||||4%|4%| |Other Bonds||||||||||7%|7%| |Property||||||||||11%|11%| |Cash|||||||||||5%| |Inflation-linked|||pooled|fund||||||5%|4%| |In&astructure||||||||||5%|5%| |Total||||||||||100%|100%| |Analysis ofthe|||amount||charged to operating||||costs in the||| |Statement|of|Comprehensive||||Income.|||||| |||||||||||At 31st|At 31st| |||||||||||March|March| |||||||||||2022|2021| |||||||||||f.000|f.000| |Employer service cost (net of
Total operating
charge||||||employee|contributions)|||(121)
(69)
~121~69|| |Analysis|ofpension finance|||||income/(costs)|||||| |Expected|return||on pension scheme assets|||||||(50')|(45)| |Interest on pension liabilities||||||||||92|71| |Amounts|charged/(credited)|||||to financing||costs|||26| |Amount ofgains and||||losses||recognised|in|the|Statement of||| |Comprehensive|||Income||||||||| |Actuarial|gains/(losses)||||on pension scheme|||assets.||301|(1,243)| |Actuarial
Actuarial|gains on scheme liabilities
(loss)/gain
recognised|||||||||129
430|379
~864)| ## ## |16
PENSION OBLIGATIONS|(continued)|(continued)|(continued)|(continued)|(continued)|| |---|---|---|---|---|---|---| |The amount included
in the Statement|ofFinancial Position arising &om the Association's|||||| |obligations
in respect ofits defined benefit retirement|||benefit scheme is as follows:|||| |||||At 31st|At|31st| |||||March|March|| |||||2022|2021|| |Movement
in surplus/(deficit)
during||year||OOOO|f000|| |(Deficit) in scheme at 1 April||||(2,086)|(1,126)|| |Movement
in year||||||| |Employer service cost||||(182)|(135)|| |Employer
contributions||||61||66| |Return on assets||||64||341| |Remeasurements||||323|(1,232)|| |(Deficit) in scheme at 31March||||~1820 ~2086||| |Asset and Liability Reconciliation||||||| |||||At 31st|At 31st|| |||||March|March|| |||||2022||2021| |||||f.000||f000| |Opening
defined benefit obligation||||4,477||3,013| |Service Cost||||182||135| |Interest Cost||||92||71| |Change in financial
assumptions||||(309)||1,272| |Change in demographic
assumptions||||||| |Experience (gain)/loss
on defined benefit obligation||||8||(29)| |Estimated benefits paid net oftransfers||in||(22)||(11)| |Past service costs, including
curtailments||||||| |Contributions
by Scheme participants||and other employers||24||26| |Closing defined benefit obligation||||4,452||4,477| |Assets at start ofperiod||||2,391||1,887| |Interest on assets||||50||45| |Return on assets less interest||||129||379| |Other actuarial (losses)||||||| |Administration
Expenses||||(1')||(1)| |Contributions
by employer
including|unfunded|||61||66| |Contributions
by Scheme participants||and other employers||24||26| |Estimated benefits paid net oftransfers||in||(22)||(11)| |Settlement
prices received/(paid)||||||| |Assets at end ofperiod||||2,632||2,391| |Actual return on plan scheme assets||||179||424| ## ## |19
CAPITAL COMMITMENTS|19
CAPITAL COMMITMENTS|19
CAPITAL COMMITMENTS|||||2021/22|2021/22|2020/21| |---|---|---|---|---|---|---|---|---|---| |||||||||fooo|fooo| |Capital expenditure
contracted for at|31stMarch||||||||| |but not provided for in the financial statements|||||||2,400||1,799| |Less funding
allocations|||||||(1,258)||(927)| |Internal
funding
commitment||||||||1 142|572| |20
OTHER FINANCIAL COMMITMENTS|||||||||| |Total future minimum
lease payments||under non-cancellable|||operating|leases are|||| |as follows:|||||||||| |||||2021/22|||2020/21||| |||||Land and||2021/?2|Land|and|2020/21| ||||||Buildings
fgoo|Other
fooo|Buildings
fooo||Other
fooo| |Operating
leases which expire:|||||||||| |Within one year|||||1,845|182||1,822|167| |Within two to five years|||||884|55||1,218|55| |After five years|||||1,857
4556|55
292|1,495
~4 35||55
277| |21
HOUSING STOCK|||||||||| |NUMBER OF UNITS IN MANAGEMENT|||||||2021/22||2020/21| |Social Housing||||||||No.|No.| |Social rent supported
housing||||||||1,020|952| |Affordable rent supported
housing||||||||123|123| |Care Homes||||||||63|63| |Social housing
units managed
but not||owned||||||91|86| |TOTAL||||||||1297|1,22,4| |RECONCILIATION
OF MOVEMENT OF|||UNITS|IN|MANAGEMENT||2021/22||2020/21| |||||||||No.|No.| |Opening
Units in Management||||||||1,224|1,235| |Newly built rental accomodation||||||||ll|24| |Units purchased
by the RP for rent||||||||61|| |All other gains fiom outside existing|social housing stock|||||||27|23| |Loss ofsocial housing due to end oflease||||||||(31)|(26)| |All other losses to existing housing stock|||||||||(5)| |Gain ofmanaged
units||||||||5|| |Lossofmanaged
units|||||||||(2/)| |Closing Units in Management||||||||1297|1+24| |22
LEGISLATIVE PROVISIONS|||||||||| |The Association
is incorporated
under the Companies||||Act|2006 and|is a Registered|Social||| |Landlord.|||||||||| |23
DESIGNATED RESERVES|||||||202,1/22||2020/21| |Resin&as ( Liquid - Minimum
Cash)||||||||4,500|4,500| |Reserves ( Liquid - Allocated to Development|||Progranune)|||||1,146|1,663| |Reserves (Non - Liquid - Property|)|||||||21,611|19,563| |||||||||17257|25 726|