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|INDEX||||
|---|---|---|---|
||||Page|
|INFORMATION||||
|STRATEGIC REPORT|||3 —24|
|BOARD REPORT|||25 —26|
|INDEPENDENT
AUDITOR'S|REPORT||27 —30|
|STATEMENT OF COMPREHENSIVE||INCOME|31|
|STATEMENT OF FINANCIAL|POSITION||32|
|STATEMENT OF CHANGES|IN RESERVES||33|
|STATEMENT OF CASH FLOWS|||34|
|NOTES TO THE FINANCIAL|STATEMENTS||35 —54|
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|Re-configuration
and negotiation
of the contracts for property
maintena
New corporate fundraising
partners,
some of whose donations
replace
A Voids Reduction Project.
An Energy Efficiency Campaign.|Re-configuration
and negotiation
of the contracts for property
maintena
New corporate fundraising
partners,
some of whose donations
replace
A Voids Reduction Project.
An Energy Efficiency Campaign.|Re-configuration
and negotiation
of the contracts for property
maintena
New corporate fundraising
partners,
some of whose donations
replace
A Voids Reduction Project.
An Energy Efficiency Campaign.|Re-configuration
and negotiation
of the contracts for property
maintena
New corporate fundraising
partners,
some of whose donations
replace
A Voids Reduction Project.
An Energy Efficiency Campaign.|Re-configuration
and negotiation
of the contracts for property
maintena
New corporate fundraising
partners,
some of whose donations
replace
A Voids Reduction Project.
An Energy Efficiency Campaign.|Re-configuration
and negotiation
of the contracts for property
maintena
New corporate fundraising
partners,
some of whose donations
replace
A Voids Reduction Project.
An Energy Efficiency Campaign.|Re-configuration
and negotiation
of the contracts for property
maintena
New corporate fundraising
partners,
some of whose donations
replace
A Voids Reduction Project.
An Energy Efficiency Campaign.|nce.
cash spend.||
|---|---|---|---|---|---|---|---|---|
|Continued
Investment
in IT infrastructure
and systems to support
Agile|||||||Working.||
|Completion
ofthe Transformation
work in accommodation-based
service delivery.|||||||||
|'Added||value' offers|when re-negotiating
contract and grant funding
with commissioners.||||||
|In addition,||significant|capital
grants|were secured
to support
the development||||projects to|
|upgrade|existing
housing
units and acquire/build||||new ones.||||
|The RSH VFM metrics|||for 2022/23 have been||calculated
in|accordance|with the VFM standard||
|(technical|note) and are presented
below with previous year|||||comparators:|||
|VfM|||Description||Framework|Framework|Framework|Social Hsg|
|Measure|||||2023/*24|2022'23|2021/'22|Median|
||||||(Budget)|||2021/'22|
|||Reinvestment|by Cost||6.66%|645'/|11.82%|6.5%|
|||New supply|delivered
by Units||239%|442%|5 970/|1.40%|
|||Gearing|||801%|613%|3.66%|44 1'/|
|||EBITDA-MR|I Interest Cover||17240%|269.44%|558.13%|146.00%|
|||Headline Social Housing Cost||per Unit|230.8k|628.6k|624.8k|F4.2k|
|||a) Operating|Margin on Social|Housing|3.49%|2.68%|4 15'/|2330%|
|||b) Operating|Margin Overall||270%|1 74O/|257%|2050%|
|||Return on Capital Employed|||1.71%|1.17%|1 63%|320%|
##
|t forecast|s.||||
|---|---|---|---|---|
|Framework|VfM Measure|Budget|2022P23|2021/'22|
|||2023/'24 (2)|(2)|(2)|
|Cost per Service User by Pillar:|||||
|Housing||12,719|12,183|11,393|
|Health||1,438|1,549|1,367|
|Employment||938|1335|894|
|Support||1,498|1,591|1,781|
|Cost per Hour ofService by Pillar:|||||
|Housing||36.98|28.72|23.34|
|Health||38.91|26.84|29.63|
|Employment||22.46|25.65|26.45|
|Support||21.59|18.79|17.77|
|Central Cost asa%ofthe Total||18.91%|17.42%|15.98%|
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|BOARD MEM|BERSHIP|BERSHIP|BERSHIP|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|The members|below, who are considered
directors|||for Company||Law|purposes,|||have served|in|
|office from 1st|April 2022 to the date of this report|||except where||otherwise|||indicated.|||
|Ruth Hawkins||Interim Chair - substantive||role Chair|of|ARM|Committee|||||
|Patrick Mitchell||Vice Chair||||||||||
|Louise Harris||Interim Chair of Audit and||Risk Management|||Committee|||||
|Catherine
Arkley||Chair of Governance,|Remuneration||&Appraisal|||Committee||||
|Jane Geraghty||Resigned 15.06.2022||||||||||
|Debbie Maitland||Resigned 15.09.2022||||||||||
|Paddy Tipping||Appointed
12.05.2022||||||||||
|Holly Dagnall||Appointed
12.05.2022||||||||||
|Vinay Shankar||Nigel Turner
Tim Gallimore||||||||||
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||||Note|2022/23|2021I22|
|---|---|---|---|---|---|
|||||f000|f.000|
|Turnover||||55,804|50,504|
|Operating
expenditure||||~54,832)|49,208|
|Operating
surplus||||972|1,296|
|Surplus on disposal ofproperty||||||
|Finance income||||50||
|Interest snd financing|costs|||(460)|(196)|
|Surplus for the year||||562|1,101|
|Actuarial
gain in respect ofpension schemes|||16|1,973|430|
|Total comprehensive||income for the year||2,535|1,531|
##
|STATEMENT OFFINANCIAL P
AS AT31stMARCH 2023|OSITION|||
|---|---|---|---|
||Note|2022/23|2021/22|
|||f000|f000|
|FIXEDASSETS||||
|Tangible assets:||||
|Property,
Plant and Equipment||92,589|87,537|
|Depreciation||(15,256)|(13,589)|
|||77,333|73&948|
|CURRENT ASSETS||||
|Debtors|12|2,380|3,427|
|Cash and Investments|13|8,652|9,189|
|||11,032|12,616|
|CREDITORS: AMOUNTS FALLING||||
|DUE WITHIN ONE YEAR|14|(5,636)|(6,970)|
|NET CURRENT ASSETS||5,396|5,646|
|TOTAL ASSETSLESS||||
|CURRENT LIABILITIES||82,729|79,594|
|CREDITORS: AMOUNTS FALLING||||
|DUE AFTERMORE THAN ONE YEAR||||
|Deferred government
grants|15b|40,076|39,193|
|Long Term Loans|15a|12,861|11,324|
|Defined benefit pension liability|16||1,820|
|||52,937|52,337|
|NET ASSETS||29,792|277257|
|CAPITAL AND RESERVES||||
|Called up Share Capital|17|||
|Designated
Reserves|23|29,792|27,257|
|||29,792|27,257|
##
##
|||Note||
|---|---|---|---|
||||f000|
|At 1stApril 2022|||27,257|
|Surplus for year|||562|
|Actuarial|gain in respect ofpension schemes|16|1,973|
|Revenue|Reserves as at31stMarch 2023||29,792|
||||g000|
|At 1stApril 2021|||25,726|
|Surplus|for year||1,101|
|Actuarial|gain in respect ofpension schemes|16|430|
|Revenue|Reserves as at31stMarch 2022||27,257|
##
|||Note|2022/23|2021/22|
|---|---|---|---|---|
||||8000|f000|
|Cash generated
from operating
activities|||||
|Surplus for the year|||562|1,101|
|Adjustment
for non cash items|||||
|Depreciation ofproperty,
plant|and equipment||1,667|1,550|
|(increase)/Decrease
in Debtors|||1,047|(435)|
|Increase/(Decrease)
in Creditors|||(1,302)|164|
|Pension costs less contribution|payable||223|214|
|(Profit) on disposal ofproperty,|plant and equipment|||0|
|Government
grants utilised
in the year||15b|(602)|(555)|
|Adjustment
between creditors due less than 1yr and greater than||1yr||(24)|
|interest received|||(50)|(1)|
|Interest payable|||460|196|
|Amounts
charged to financing costs||16|(70)|(50)|
|Cash generated
by operating|activities||1,935|2,160|
|Cash flows from investing
activities|||||
|Purchase ofproperty,
plant and|equipment||(5,052)|(9,213)|
|Proceeds fmm the sale ofproperty,
plant and equipment|||||
|Grants received|||1,504|4,760|
|Interest received|||50|6|
|Net cash flows from investing|activities||(3,498)|(4,447)|
|Cash flows from financing
activities|||||
|Interest Paid|||(466)|(258)|
|New Loans|||1,990|2,300|
|Loan repayments|||(498)|(474)|
|Net cash flows from tinancing|activities||1,026|1,568|
|Net(decrease)/increase
in cash and cash equivalents|||(537)|(719)|
|||Note|2022/23|2021/22|
||||8000|8000|
|Cash and cash equivalents
at beginning ofyear||13|9,189|9,908|
|Net (decrease)/increase
in cash|and cash equivalents||(537)|(719)|
|Cash and cash equivalents
at end ofyear||13|8,652|9,189|
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|expected useful eco|nomic lives at the follo|wing
ann|
|---|---|---|
|Land||nil|
|Buildings-|Superstructure|1.25%|
|Buildings-Roof||2%|
|Buildings-Heating
Systems||25%|
|Buildings|- Electrical systems|3%|
|Buildings
Furniture
I~t|- Fixtures &Fitting:
and Equipment|33%|
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|TURNOVER|,|OPE|RATING COSTS AND OP|ERATING SURPLUS||
|---|---|---|---|---|---|
|||||2022/23|2021/22|
|TURNOVER||||8000|8000|
|Rent and service charges receivable||||18,703|18,007|
|Community
care contracts||||1,435|1,340|
|||||20,138|19,347|
|Statutory revenue income||(Note 4)||14,050|10,754|
|Housing
Related Support||contracts||12,423|11,700|
|Amortised
government|grant|||602|555|
|Specific charitable
income||(Note 4)||3,525|4,436|
|||||50,738|46,792|
|Non specific charitable|giving||(Note 4)|1,067|762|
|Other||||3,999|2,950|
|TOTAL TURNOVER||||55,804|50,504|
|OPERATING COSTS||||||
|Services||||36,917|34,056|
|Management||||11,027|9,247|
|Maintenance||||4,203|3,439|
|Development||||269|237|
|Fund raising||||300|253|
|Bad debts||||449|426|
|Depreciation||||1,667|1,550|
|TOTAL OPERATING COSTS||||54,832|49,208|
|OPERATING SURPLUS FORTHE YEAR||||972|1896|
|Analysis ofVoids||||8000|8000|
|Voids fiom lettable properties||||2,793|2,207|
|Total Voids||||2,793|2+07|
##
|3a
PARTICULARS OF TURNOVER,|OPERATING EXPENDITURE AND|OPERATING EXPENDITURE AND|OPERATING EXPENDITURE AND|
|---|---|---|---|
|OPERATING SURPLUS||||
||2022/23|2022/23|2022/23|
|||Operating|Operating|
||Turnover|Expenditure|Surplus/(Deficit)|
||8000|f000|%000|
|Social Housing Lettings (Note 3b)|27,645|26,933|712|
|Other Social Housing
Activities||||
|Charges for support services|11,927|11,897|30|
|Total Social Housing|39,572|38,830|742|
|Activities other than Social Housing|16,232|165002|230|
|Total Non- Social Housing|16,232|16,002|230|
|Total|55,804|54,832|972|
|3a
PARTICULARS OFTURNOVER, OPERATING EXPENDITURE AND||||
|OPERATING SURPLUS||||
|OPERATIN|G SURPLUS||||
|---|---|---|---|---|
|||2021/22|2021/22|2021/22|
||||Operating|Operating|
|||Turnover|Expenditure|Surplus/(Deficit)|
|||8000|5000|f000|
|Social Housing Lettings (Note 3b)||24,065|235067|998|
|Other Social Housing|Activities||||
|Charges for support setvices||11,226|11,151|75|
|Total Social Housing||35,291|34,218|Ii073|
|Activities other than Social Housing||15,213|14,990|223|
|Total Non- Social Housing||15,213|14,990|223|
|Total||50,504|49,208|1,296|
##
|||Social Housing|Social Housing|
|---|---|---|---|
|||2022/23|2021/22|
|Income||8000|8000|
|HB eligible rent &service charges||19,350|18,552|
|HB ineligible rent dr service charges||788|795|
|Amortised
government|grants|602|555|
|Other grants||6,905|4,163|
|Turnover
from Social|Housing Lettings|27,645|24,065|
|Operating
Expenditure||||
|Management||7,193|5,516|
|Service Charge Costs||10,760|9,785|
|Routine Maintenance||4,157|3,326|
|Planned Maintenance||1,134|1,014|
|Bad Debts||449|426|
|Depreciation ofhousing|properties|1,239|1,090|
|Depreciation ofother tangible fixed assets||338|364|
|Other costs||1,663|1,546|
|Operating
Expenditure|on Social Housing Lettings|26,933|23,067|
|Operating
Surplus||712|998|
|Void Losses||2,793|2,207|
##
|4
GRANTS AND DONAT|IONS R|ECEIVABLE||||
|---|---|---|---|---|---|
||||2022/23||2021/22|
||||OOOO||5000|
|STATUTORY SOURCES||||||
|Leicester, Leicestershire &Rutland|Councils|(Edwin)||532|718|
|DLUC - City ofLincoln Council||||653|627|
|DLUC- Nottingham
City||||3,048|800|
|DLUC Sheffield||||33|30|
|Nottingham
City CDP (MVH
)||||28|28|
|Nottingham
City Council (Rough|Sleepers)|||295|350|
|Nottingham
City CDP (Clean Slate)||||1,000|1,196|
|Nottingham
City CDP (Nottingham|Recovery Network)|||5,390|4,675|
|Nottingham
City CDP (Edwin)||||411|235|
|Nottingham
City CCG Mental Health &Wellbeing||||236|181|
|Nottingham
City CDP (HALT)||||94|95|
|Nottingham
City Council (Edwin)|||||284|
|Sheffield City Council (Street outreach/SMHIS)||||215|191|
|DLUC - Ashfield DC (SOT County)||||416|636|
|Homes England (RSAP)||||430|204|
|Other Statutory Grants||||1,269|504|
|Total||||14,050|10,754|
|SPECIFIC CHARITABLE SOURCES||||||
|BBC-CIN (Employment
&Skills)|||||9|
|BigLottery Fund (Opp Nottm)||||429|1373|
|BigLottery (Opportunity
&Change)||||1,498|1,476|
|SSBC(Family Mentor &Aspley Mentor)||||1,362|1,292|
|BigLottery (Homeless to Home)||||73|229|
|BBOLinc - UC Move||||34|31|
|Other Specific Grants||||129|26|
|Total||||37525|4,436|
|OTHER GRANTS AND DONATIONS||||||
|Grants and Donations||||1,067|762|
|Total||||1,067|762|
||||Grand
'|18,642|15,952|
|M ttlt~dd'tdld|t|lltdttddll|d f) lf|||
|determined
by the funders.||||||
##
|FRAMEWORK HOUSING ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS
FORTHE YEAR ENDED 31stMARCH 2023|||
|---|---|---|
|5
FINANCE INCOME|||
||2022/23|2021/22|
||5000|5000|
|Bank interest receivable|50||
||50||
|6
INTEREST AND FINANCING COSTS|||
||2022/23|2021/22|
||5000|%000|
|Bank loans and overdrafts|466|258|
|Costs associated with financing|||
|Net interest on defined benefit liability (Note 16)|45|42|
||511|300|
|Borrowing costs capitalised|(51)|(104)|
||460|196|
|7
SURPLUS FORTHE YEAR|||
||2022/23|2021/22|
||5000|5000|
|Surplus for the year is stated after charging:|||
|Depreciation
on housing properties|1,329|1,185|
|Depreciation
on other fixed assets|338|364|
|External Auditor's
Remuneration
(excluding VAT)|||
|-Audit-related
assurance services|29|25|
|Operating
lease charges on land and buildings|1,929|1,855|
|Operating
lease charges on other assets||182|
|8
TAXATION|||
##
##
||||||2022/23|2021/22|
|---|---|---|---|---|---|---|
||||||F000|8000|
|Staffcosts including|directors:||||||
|Wages and salaries|||||26,682|24,420|
|Redundancy
costs|||||8|22|
|Social security costs|||||2,080|1,809|
|Other pension costs|||||1,007|956|
|Total|||||29,777|27,207|
|The full Time Equivalent||number|ofstaff who received emoluments,||including|pension|
|contribution,
in excess of260,000|||are|shown below.|||
||||||2022/23|2021/22|
||||||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:|2022/23|2021/22|
||||||No.|No.|
|Supported
Housing|||||588|570|
|Tenancy Sustainment|||||183|178|
|Fundraising
and Communications|||||12|9|
|Management
and Administration|||(Central Office)||103|93|
|Care Home|||||91|94|
|Non Housing
related|service staff||||344|293|
|Average number ofFTEemployees||||during the year|1,321|1,237|
##
##
|10
DIRECTORS' REMUNERATION
AND T
Key management
personnel
remuneration|RANSACTIONS||
|---|---|---|
||2022/23|2021/22|
||f000|%000|
|Directors who are executive staff members|||
|Wages and salaries|464|463|
|Loss ofOffice payment|||
|Social security costs|55|53|
|Other pension costs|23|26|
##
##
##
##
##
|s||
|---|---|
|2022/23|2021/22|
|8000|8000|
|98|89|
##
|||Properties
in|Properties
in|Properties
in|Plant and||
|---|---|---|---|---|---|---|
|||Management||Development|Equipment|Total|
||||8000|8000|$000|8000|
|COST|||||||
|At 1stApril 2022|||79,145|6,015|2 377|87,537|
|Additions
during the year|||503|4,279|79|4,861|
|Capitalised
Repairs|||191|||191|
|Transferred
on completion|||8,489|(8,489)|||
|Disposals during tbe year|||||||
|Total at31stMarch 2023|||88,328|1,805|2,456|92,589|
|DEPRECIATION|||||||
|At 1stApril 2022|||11,701||1,888|13,589|
|Charge for the year|||1,329||338|1,667|
|Disposals
during the year|||||||
|Total at31stMarch 2023|||13,030||2,226|15,256|
|NET BOOKVALUE|||||||
|At 1stApril 2022|||67,444|6,015|489|73,94&|
|At31stMarch 2023|||75,298|1,805|230|77.333|
|Included
in properties
in|management||is Anvil House (formerly||"Scotter House" )which is||
|subject to a60year lease|atanet|book|value of|81,630k.|||
|Expenditure
on own properties|||||2022/23|2021/22|
||||||f000|8000|
|Capitalised
development|costs||||4,782|8,421|
|Repairs and Maintenance|charged|to operating
expenditure|||1,198|902|
|Total expenditure
on own properties|||||5,980|9,323|
##
##
##
|12
DEBTORS||||||
|---|---|---|---|---|---|
|||||2022/23|2021/22|
|||||5000|%000|
|AMOUNTS PALLING DUE WITHIN ONE YEAR||||||
|Rent, service, support
and community
Less: Provision for bad debts||care charges (Note below *)||1,201
(331)|1,326
~3433|
|Net rent, service and support|charges|||870|983|
|Prepayments
and accrued income||||808|763|
|Grants and loans receivable||||693|1,680|
|Other taxation and social security||||9|I|
|Debtors at 31stMarch||||2)380|3,427|
|*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||||||
|||||2022/23|2021/22|
|||||5000|0000|
|Cash||||120|86|
|Cash aud cash equivalents||||8,532|9,103|
|Cash and Investments
at31stMarch||||8,652|9,189|
|14
CREDITORS||||||
|||||2022/23|2021/22|
|AMOUNTS FALLING DUE|WITHIN ONE YEAR|||%000|0000|
|Accruals and deferred income||||2,922|3,290|
|Trade creditors||||1,496|2,319|
|Other creditors||||91|75|
|Other taxation and social security|||||146|
|Government
grants (Note 15b)||||608|589|
|Principal Loan repayments
(Note 15a)||||519|551|
|Creditors at 31stMarch||||5,636|6,970|
##
##
|AMOUNTS FALLIN
THAN ONE YEAR|G DUK AFTER MORE|||
|---|---|---|---|
|||2022/23|2021/22|
|||8000|5000|
|Long Term Loans||12,861|11,324|
|Deferred Government|Grants|40,076|39,193|
|||52,937|50,517|
##
||2022/23|2021/22|
|---|---|---|
||F000|5000|
|Loans repayable
by instalments|||
|Within one year or less|519|551|
|More than one year but not more than two years|583|612|
|More than two years but not more than five years|1,951|1,918|
|More than five years|10,327|8,794|
||13,380|11,875|
##
|||2022/23|2021/22|
|---|---|---|---|
|||8000|5000|
|Deferred capital grant as at 1stApril||39,782|35,577|
|Grants received in the year||1,504|4,760|
|Grant repayments
during the year||0|0|
|Amortised
to Statement ofComprehensive|Income|(602)|(555)|
|Deferred capital grant as at 31March||40,684|39,782|
|Amount
to be released within one year||608|589|
|Amount to be released after one year||40,076|39,193|
##
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||At31st|At 31st|
|---|---|---|
||March|March|
||2023|2022|
||'/o|'/o|
|Rate ofincrease in salaries|3 90a|4 15'/o|
|Rate ofincrease for pension in paymentfinflation|2 90o/o|3.15'/o|
|Discount rate for scheme liabilities|4.80o/a|2.60'/a|
|Inflation assumption
(CPI)|2 90a/o|3 15o/o|
##
##
||||||||||At 31st|At 31st|At 31st|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||March||March|
|||||||||||2023|2022|
|Retiring today||||||||||Years|Years|
|Males||||||||||20.7|22.0|
|Females||||||||||23.5|24.5|
|Retirtng in 20years||||||||||||
|Males||||||||||22.0|23.4|
|Females||||||||||25.0|26.0|
|The estimated
asset allocation|||||for the Association||||as at 31March 2023 is|a follows:||
||||||||||At 31st||At 31st|
||||||||||March||March|
|||||||||||2023|2022|
|Equities||||||||||58%|62%|
|Gilts||||||||||2%|4|
|Other Bonds||||||||||6%|7%|
|Property
Cash
Infrastructure||||||||||12%
5%|11%|
|Inflation-linked||pooled|fund|||||||5%||
|||||||||||8%||
|Private Equities||||||||||4%|0|
|Total||||||||||100%|100%|
|Analysis ofthe||amount||charged to operating||||costs in the||||
|Statement|ofComprehensive||||Income.|||||||
||||||||||At 31st||At 31st|
|||||||||||March|March|
|||||||||||2023|2022|
|||||||||||f000|g000|
|Employer|service cost||(net of||employee contributions)|||||(107)|(121)|
|Total operating||charge||||||||(107)|(121)|
|Analysis|ofpension finance||||income/(costs)|||||||
|Expected|return|on pension scheme assets||||||||(70)|(50)|
|Interest on pension liabilities||||||||||115|92|
|Amounts|charged/(credited)||||to financing||costs|||45|42|
|Amount ofgains and|||losses||recognised|in|the|Statement of||||
|Comprehensive||Income||||||||||
|Actuarial|gains/(losses)|||on pension scheme|||assets.|||2,052|301|
|Actuarial|gains|on scheme liabilities||||||||(79)|129|
|Actuarial|(loss)/gain||recognised|||||||1,973|430|
##
##
|FRAMEWORK HOUSlNG ASSOCIATION
NOTES TO THE FINANCIAL STA.TEMENTS
FORTHE YEAR ENDED 31stMARCH 2023
16
PENSION OBLIGATIONS (continued)|FRAMEWORK HOUSlNG ASSOCIATION
NOTES TO THE FINANCIAL STA.TEMENTS
FORTHE YEAR ENDED 31stMARCH 2023
16
PENSION OBLIGATIONS (continued)|FRAMEWORK HOUSlNG ASSOCIATION
NOTES TO THE FINANCIAL STA.TEMENTS
FORTHE YEAR ENDED 31stMARCH 2023
16
PENSION OBLIGATIONS (continued)|FRAMEWORK HOUSlNG ASSOCIATION
NOTES TO THE FINANCIAL STA.TEMENTS
FORTHE YEAR ENDED 31stMARCH 2023
16
PENSION OBLIGATIONS (continued)|FRAMEWORK HOUSlNG ASSOCIATION
NOTES TO THE FINANCIAL STA.TEMENTS
FORTHE YEAR ENDED 31stMARCH 2023
16
PENSION OBLIGATIONS (continued)|FRAMEWORK HOUSlNG ASSOCIATION
NOTES TO THE FINANCIAL STA.TEMENTS
FORTHE YEAR ENDED 31stMARCH 2023
16
PENSION OBLIGATIONS (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 31st|At|31st|
|||||March|March||
|||||2023|2022||
|Movement
in surplus/(deficit)
during||year||f000|f000||
|(Deficit) in scheme at I April||||(1,820)|(2,086)||
|Movement
in year|||||||
|Employer service cost||||(169)|(182)||
|Employer
contributions||||62||61|
|Return on assets||||(220)||64|
|Remeasurements||||2,147||323|
|Surplus/(Deficit)
in scheme at 31March||||0|((,820l||
|Asset and Liability Reconciliation|||||||
|||||At 31st|At 31st||
|||||March|March||
|||||2023||2022|
|||||8000||g000|
|Opening
defined benefit obligation||||4,452||4,477|
|Service Cost||||169||182|
|Interest Cost||||115||92|
|Change in financial
assumptions||||(1,988)||(309)|
|Change in demographic
assumptions||||(262)|||
|Experience (gain)/loss
on defined benefit obligation||||138||8|
|Estimated benefits paid net oftransfers||in||(45)||(22)|
|Past service costs, including
curtailments|||||||
|Contributions
by Scheme participants|and other employers|||25||24|
|Closing defined benefit obligation||||2,604||4,452|
|Assets at start ofperiod||||2,632||2,391|
|Interest on assets||||70||50|
|Return on assets less interest||||(79)||129|
|Other actuarial (losses)||||(50)|||
|Administration
Expenses||||(I)||(1)|
|Contributions
by employer
including|unfunded|||62||61|
|Contributions
by Scheme participants||and other employers||25||24|
|Estimated benefits paid net oftransfers||in||(45)||(22)|
|Settlement
prices received/(paid)|||||||
|Assets at end ofperiod||||2,614||2,632|
|Actual return on plan scheme assets||||(59]||179|
##
##
##
|19|CAPITAL COMMITMENTS|CAPITAL COMMITMENTS|2022/23|2021/22|
|---|---|---|---|---|
||||KOOO|KOOO|
|Capital|expenditure
contracted for|at 31stMarch|||
|but not|provided for in the financial|statements|1,876|2,400|
|Less funding
allocations|||(728)|(1,258)|
|Internal|funding
commitment||1)148|1,142|
|Total future minimum
lea
as follows:|se pa|yments
under n|on-cancellabl|e
operating|leases are||
|---|---|---|---|---|---|---|
||||2022/23||2021/22||
||||Land and|Z022/23|Land and|2021/22|
||||Buildings|Other|Buildings|Other|
||||KOOO|KOOO|KOOO|KOOO|
|Operating
leases which expire:|||||||
|Within one year|||1,929|321|1,855|182|
|Within two to five years|||1,023|55|1,845|55|
|After five years|||46|55|884|55|
||||2,998|431|4,584|292|
|21
HOUSING STOCK|||||||
|NUMBER OFUNITS IN MANAGEMENT|||||2022/23|2021/22|
|Social Housing|||||No.|No.|
|Social rent supported
housing|||||1,037|1,020|
|Affordable
rent supported|housing||||123|123|
|Care Homes|||||63|63|
|Social housmg units managed||but not owned|||86|91|
|TOTAL|||||1,309|1)297|
##
|RECONCILIATION
OFMOVEMENT OF|RECONCILIATION
OFMOVEMENT OF|UNITS IN MANAGEMENT|UNITS IN MANAGEMENT|UNITS IN MANAGEMENT||
|---|---|---|---|---|---|
|||||2022/23|2021/22|
|||||No.|No.|
|Opening|Units in Management|||1,297|1,224|
|Newly built rental accommodation||||37|ll|
|Units purchased
by the RP for rent||||17|61|
|All other|gains I'rom outside existing social housing||stock|39|27|
|Loss ofsocial housing due to end oflease||||(52)|(31)|
|All other|losses to existing housing stock|||(24)||
|Gain ofmanaged
units||||1|5|
|Loss ofmanaged
units||||(6)||
|Closing|Units in Management|||1,309|1,297|
|22|LEGISLATIVE PROVISIONS|||||
|The Association is incorporated
under the Companies|||Act 2006 and is aRegistered||Social|
|Landlord.||||||
|23|DESIGNATED RESERVES|||2022/23|2021/22|
|Reserves|(Liquid
—Minimum
Cash)|||4,500|4,500|
|Reserves|(Liquid - Allocated to Development|Programme)||896|1,146|
|Reserves|(Non - Liquid - Property )|||24,396|21,611|
|||||29,792|27,257|