2024-03-31-accounts

FRAMEWORK HOUSING ASSOCIATION STRATEGIC AJYD BOARD REPORT FINAINCIAL STATEMENTS FOR THE FINANCIAL YEAR TO 31st MARCH 2024 co1￿[PANy REGISTRATION No: 3318404

FRAMEWORK HOUS]NG ASSOCIATION INDEX Page INFORMATION STRATEGIC REPORT 3-27 BOARD REPORT 28-29 INDEPENDENT AUDITOR'S REPORT 30-33 STATEMENT OF COMPREHENSIVE llYCOME 34 STATEMENT OF FINANCIAL POSITION 35 STATEMENT OF CHANGES IN RESERVES 36 STATEMENT OF CASH FLOWS 37 NOTES TO THE FINANCIAL STATEMENTS 38-56

FRAMEWORK HOUSING ASSOCIATION INFORMATION AS AT 31st March 2024 THE BOARD: Ruth Hawkins Patrick Mitchell Appointed as Chair (previously interim) from 14.09.23. Wice Chair (retired 31.03.2024) Appointed Chair of Audit and Risk Management Committee (previously interirn) from 14.09.2023 Chair of the Governance, Remuneration and Appraisal Committee Resigned 13.07.2023 Retired 31.03.2024 Appointed 14.09.2023 Appointed 14.09.2023 Appointed 14.09.2023 Appointed 14.09.2023 Appointed 14.09.2023 Appointed 14.09.2023 Holly Dagnall Louise Harris Catherine Arkley Tim Gallimore Vinay Shankar Alan Davies Sheona MacLoed Rob Main Brigitte Scammell Neil Jones Marcus Beale Paddy Tipping Nigel Tumer SENIOR LEADERSHIP TEAM: Andrew Redfern Chief Executive Claire McGonigle Deputy Chief Executive Suzanne Williamson Director of Finance, Govemance and Risk Dave Smith Services Director (Retired 3110712023) Steve Watson Director of Homelessness servI￿s (Appointed 0310712023) Apollos Clifton-Brown Director of Health and Social Care Dave Newmarch Director of Corporate Services Suzanne Williamson COMPANY SECRETARY: REGISTERED OFFICE: Val Roberts House, 25 Gregory Boulevard, Nottingham NG7 6NX Tel: [phone] E-mail: [e-mail] Beever and Struthers, One Express. 1 George Leigh Street, Manchester M4 5DL Actons, 20 Regent Street, Nottingham NG15BQ National Westminster Bank Plc. Nottingham City Branch 148-149 Victoria Centre, Nottingham NG13QT AUDITORS: SOLICITORS: BANKERS: REGISTERED CHARITY No: REGISTERED PROVIDER OF SOCIAL HOUSING No: COMPANY REGISTRATION No: 1060941 LH4 184 331840 The Board Members present their Strategic Report, Board Report and Audited Financial Statements for the year ended 31st March 2024. Page 2

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT PRINCIPAL ACTIVITIES The principal activities of Framework Housing Association are to provide accommodation, support, care, treatment, training, resettlement, and related services lo homeless, vulnerable, and excluded people. At present these activities are carried out mainly in the cities of Nottingham, Lincoln, Leicester & Sheffield and the counties of Nottinghamshire, Derbyshire, Lincolnshire & Northamptonshire. Framework's Objects, as set out in its Articles of Association, are to cary out the following activities for persons in need who are homeless (or threatened with the prospect of becoming homeless) andl or suffering from the effects of poverty, sickness, disability, old age, alcoholism, drug addiction, offending behaviour or any other mental or physical infirmity: To provid8 housing, treatment, rehabilitation. education, training and care To provide facilities. resources and Servi￿ to support andl or benefit them To provide, maintsin or improve properties to deliver the above services To promote further study of the nature, extent and consequences of the above social problems. Framework's Vision, as set out in the 2022-'27 Corporate Plan is that People experiencing Homelessness and Related Disadvantage are treated with Dignity, Respect and Compassion, and are empowered to reach their full potential. Framework's Mission Statement is: 'Working to tackle Homelessness, 111-health. Disadvantage and Exclusion, by: Providing holistic, person-centred programmes of housing, health, employment and support Challenging systems & influencing their design to deliver integrated services with better outcomes Preventing homelessness and its causes Advocating for ser￿iCe users and embedding their experience in our work. ORGANISATION STATUS Framework is a Registered Charity (no. 1060941) and a Company Limited by Guarantee (no. 331840). In the event of winding up, the liabilty of each member is limited to £1. Framework is also a Registered Provider of Social Housing (no. LH4 184). These accounts are prepared in accordance with the Statement of Recommended Practice for Registered Social Housing Providers 2018 and the Accounting Direction for Private Registered Providers of Social Housing 2022. GOVERNANCE Board Framework is govemed by a Board which is ultimately responsible for its activities and affairs. The Board members are all Directors of the Company, Trustees of the Charity and Members of the Association. The current members of the Board are listed above. In September 2023 Ruth Hawkins was appointed as the permanent chair. having previously held the position on an interim basis since March 2022. This appointrnent means that Framework has a credible, experienced Leader providing stability at a time when there is change in the membership of the Board. Page 3

FRAMEWORtC HOUSING ASSOCIATION STRATEGIC REPORT (continued) As part of its succession planning strategy, the Board completed a successful recruitment campaign in the summer of 2023. This resulted in the appointment of six new Members. The outcome further strengthens the experience and skills of the Board considering two retirements in March 2024, and fvrther planned retirements in the medium term. The day-to-day management of the Charity is delegated to its Chief Executive and Senior Leadership Team (SLT), with certain tasks passed to the Corporate Leadership Team (CLT). Other delegations for oversight of relevant activities are made by the Board to the Audit and Risk Management (ARM) Committee and to the Governance, Remuneration and Appraisal (GRA) Committee. The Board has decided to establish a new Serrfice Delivery (SD) Committee with effect from September 2024. The Board has agreed a list of Key Control Policies (KCPS) that it alone can amend. Changes to other policies can be made by the GRA Committee. the SLT or be delegated to the Corporate Leadership Team (CLT). The Board meets at least eight times per annum and holds an annual Conference. The standard term of office for each individual Board Member is three years, which may be extended subject to review. In accordance with the National Federation's Code of Governance (2020) Members usually retire after a second three-year term. Exceptionally, the normal six-year limit may be extended to meet specific organisational needs. Compliance with Regulator of Social Housing's Governance and Financial Viability standards and Consumer Standards. In January 2024 Framework was the subject of an In-Depth Assessment (IDA) by the Regulator of Social Housing (RSH). The outcorne was that Framework's G11 V2 rating for compliance with the RSH Governance and Viability Standards was retained. It is a regulatory requirement and a matter of good practice for Registered Providers of Social Housing to assess their compliance with the RSH Governance, Financial Viability and Consumer Standards. Framework's 2024 self-assessments of compliance with these standards have been received and discussed by the Board. It concluded the organisation is compliant with these standards and there have been no notifiable breaches of them during the year. Charity Commlssion Public Benefit Guidance Framework Board Members have regard to the Charity Commission's public benefit guidance when exercising their powers and duties to which this guidance is relevant. In the view of the Board, Framework's activity continues to deliver public benefit and it has not taken any decision that departs from the guidance during the 2023-'24 financial year. Code of Governance Framework has adopted the National Housing Federation's (NHF) Code of Govemance 2020. The Board assesses its compliance with the Code on an annual basis. The self- assessment for 2023-'24 concluded that Framework is fully compliant with the NHF Code. Statement of Board Members, Skills. Qualities and Experience The role of Board Members is set out in a written profile for the role. The Board Member appraisal prO￿sS assesses performance against this. The recent Board Member recruitment was informed by a Skills Audit. Its outcome enhanced the housing, asset management and business skills present on the Board, whilst also strengthening the membership ofthe bNO Committees. Page 4

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (continued) Committees of the Board The Board has established two Committees, both of which have delegated authority to act on its behalf within detailed Terms of Reference. These are set out in appendices to 'Governance in Action, (Framework's Governance Policy). The bNO Committees are the Audit and Risk Management (ARM) Committee and the Governance, Remuneration and Appraisal (GRA) Committee. The decisions taken by the ARM Committee relate to the identification and assessment of risks to the achievement of Framework's objectives and the creation and monitoring of systems, policies & procedures to manage them. Its current members are: Louise Harris (Chair), Nigel Turner, Rob Main, Alan Davies and Sheona MacLeod. The GRA Committee's work focuses on the structures and processes by which Framework is governed, succession planning, skills audit, staff remuneration and the appraisal of Board Members & the Chief Executive. Its current members are: Catherine Arkley (Chair), Holly Dagnall, Paddy Tipping. Marcus Beale, Neil Jones and Brigitte Scammell. Framework has a Service User Advisory Group (SUAG) through which those using its services can influence the Board's decisions and participate in other aspects of governan￿. Two Board Members attend the SUAG meetings on a regular basis and there is a standing Board Agenda item to facilitate their feedback. The SUAG may nominate up to two service user representatives at any one time, who are entitled to attend meetings of the Board. CORPORATE STRATEGY AND OBJECTIVES Framework's Mission, as set out in its 2022-2027 Corporate Plan is.. 'Working to tackle Homelessness,111-health, Disadvantage and Exclusion, by: Providing holistic, person ￿ntred programmes of housing, health, employment & support Challenging systems and influencing their design to deliver integrated services with better outcomes Preventing homelessness and ts causes Advocating for Servi￿ users and embedding their experience in our work This is to be achieved by providing a range of ser4ices resting on four 'pillars' that together give strategic shape to the work of the organisation: Housing We house and support people who are homeless, prevent others from losing their homes and help them to sustsin their tenancies, because all need a place to call their home. Health We offer specialist health and clinical ServI￿S to people with all kinds of health issues, because physical and emotional wellbeing is fundamental to a stable, independent and fulfilling lrfe. Employment These services, including volunteering, build skills and employability, because people need financial Stability. a sense of setf-worth and control over their future. Support and Care Our support and care services add to the quality and sustainability of lrfe, nurturing Gonfidence, building esteem and engaging people as part of a community, because this makes us all stronger. Page 5

FRAMEWORK HOUSDIG ASSOCIATION STRATEGIC REPORT (continued) Statement by the Directors in performance of their statutory duties in accordance with Section 172(1) of the Cornpanies Act 2006 The Directors (who are also the Board Members) Gonsider that they have acted in good faith, in the way most likely to promote the success of the organisation for the benefit of its members as a whole (having regard to the stakeholders and matters set out in Section 172 (1) (a-f) of the Act). The likely consequences of any decision In the long term Framework has a five-year strategic planning cyde, allowing the long-term consequences of decisions to be considered. The Corporate Plan sets out the organisation's strategic direction through the Vision and Mission Statements, Corporate Objectives, Values, Four Pillars and summaries of the Long-Term Financial Plan (LTFP) with its accompanying Strategies. The Annual Plan and Review records progress against the delivery of the Corporate Plan. The thirty-year LTFP is reviewed and updated on an annual basis and stress-tested against a range of scenarios and risks, enabling the Board to approve rnitigation plans and trigger points for these. The intsrests of the oryanisation's employees Framework recognises the importance of its employees in the delivery of its Mission and Objectives. Corporate Objective Six {'Valuing our People,) describes how it seeks to recruit and maintain a skilled, motivated, and resilient workforce that embodies its values and prioritises its Servi￿ users. Framework uses the 'lnvestors in People, standard to support the continuing development of its people strategies and employee engagement, to deliver the Corporate Objectives agreed by the Board, promote the interests of its seNice users and meet their needs. The need to foster the organlsatlon's business relationships with suppliers, customers and others. Framework prioritises the needs of its service users. promotes their interests and measures its success by the difference made to their lives. Service users are engaged in its decision-making processes and in wider consultation to support and drive improvemenL At strategic level the relationship between the organisation and those who use its services is fostered by Board Members attending those of the Service User Advisory Group (SUAG) and reporting baGk to the Board; through the invitation for SUAG to be represented at Board Meetings and the annual Board Conference; through joint presentations to the Board by staff & service users and by Board Member visits to servI￿s. SUAG is assisted and promoted independently by Service User Empowerment and Advocacy (SEA), a separate organisation contracted by Framework specifically for this purpose. Framework aims to establish, develop and nurture strong relationships with commissioners and other key stakeholders such as ￿ntral govemment departments, local authorities, place-based partnerships. the health & Social care communities, police & crime commissioners. Through them seeks to influence the planning and development of service pathways and networks that are responsive to the range of needs presented by current and future service users. In relation to suppliers, Framework has a Procurement Policy setting out the principles and practice of its approach, aligned to Corporate Objective Four ('Organisational Strength and Resilience,). It describes how the organisation works with its professional consultants and suppliers. in a spirit of partnership and high business ethics that reflect its Mission and Values. The Impact of the organisation's operations on the community and environment Framework seeks to make a positive impact in the geographical areas and communities where it operates by providing high quality, Tit for purpose, accommodation with accompanying complementary services. based on the 'four pillars, approach. The offer can be summarised as providing a safety net for some, a springboard for others and sustained engagement where needed to enhance service users, contribution to the lrfe of the wider community. Page 6

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (continued) Framework is a point of reference and stability for many who have nowhere else to tum, providing basic emergency assistance, a safe place to stay with aC￿sS to specialist services, needs and risk assessment. These culminate in the formulation of an integrated plan comprising elements of housing, health, support, and skills for employment, tailored to the individual circumstances of each person. We work closely with local and health authorities to implement their strategies for tsckling and preventing homelessness, rough sleeping, social exclusion, health inequality and inactivity. Framework is striving to reduce the carbon footprint and other negative externalities from its activities. The Asset Management Strategy includes plans for better utilisation of low carbon technologies and greater energy efficiency. The IT Transformation Strategy is accompanied by investment to modemise the delivery of services. The desirability of the organisation malntaining a reputation ftir high standards of business conduct As a Registered Charity and a Registered Provider of Social Housing, Framework seeks to maintain high standards of condud. The Board carries out annual assessments of its compliance with the RSH Regulatory Standards. NHF Code of Governance and the Housing Ombudsman's Complaints Code. Policies exist to sustain compliance with the requirements of the Charity Commission, Care Quality Commission, Data Protection Offic8 and Health & Safety Executive, with accompanying procedures and intemal controls to ensure adherence to all relevant laws and regulations. Framework is comrnitted to the promotion of equality, diversity, inclusion, human rights and the prevention of slavery & human trafficking. The need to act fairly as between members of the organisation The organisation's robust approach to governance is set out by 'Govemance in Action,, with a commitment to comply with relevant laws. regulatory standards, and codes. This Key Control Policy supports the integrity of decision making and focuses it primarily on the needs of service users rather than those of Board members, staff or volunteers. Principal decisions In the past financial year, the Board has taken a substantial number of decisions to discharge its responsibilities as listed above. Among those that were material to the strategic priorities of the organisation andl or its key stakeholder groups, were: A review and update of the Long-Term Financial Plan and supportlng strategies aligned to the Objectives, with accompanying stress testing, mitigations & triggers to sustain viability. Self-assessments of compliance against the RSH Standards, The NHF Code of Conduct and the Housing Ombudsman Complaints Code to maintain high standards of govemance and gain assurance on compliance with legal & regulatory requirements. A review and update of the Service User Participation Strategy and of the Equality, Diverslty, and Inclusion Action Plan to track the progress of their delivery, and reflect new and emerging themes. The approval of two new supported houslng sthemes delivering 30 high-quality self-contained units as part of the programme to develop a total of 50 between April 2023 and March 2025. A review of perfomiance against the Value for Money Strategy, measuring the efficiency and effectiveness of how resources are deployed to meet service users, needs. Review, update and approval of the following Key Control Policies in accordance with the normal three-year cycle: Whistle Blowing; Safety, Health. Environment and Quality; Govemance in Action, Complaints and Compliments (including evaluation and leaming) and Risk Management. Recruitment and appointment of six new Board Members as part of succession planning, further strengthening the composition and skill-set of the Board. Prioritisation of the available resources to maximise the pay award for the fifth successive year as part of a wider recruitment and retention strategy. Page 7

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (continued) CORPORATE PLANNING The 20221,27 Corporate Plan describes a set of circumstances - joined-up responses to severe and multiple disadvantage, which ought to exist, but doesn't. The plan attributes this primarily to deficient national and local policy and strategy. The title Structure and Systems, has both internal and external dimensions. It highlights the need for change not only in the external structures and systems that Framework helps its service users to navigate, but also in those by which the organisation carries out its own functions. The internal aspects include enhancements to govemance, leadership, financial planning, risk management, culture and service delivery. A priority for leaders is to find ways of delivering safe and effective services with fewer staff who can be trained, developed and rewarded as professionals. So, whilst continuing to pursue outward-facing opportunities to 'join-up' or complement existing work, Framework will prioritise investment in its own structure & systems to support the modemisation of its work. We are committed to meeting our statutory, regulatory, and contractual obligations whilst simultaneously re-investing to modernise our stock, reduce our carbon emissions and maintain our financial viability. In September 2023 the Board has appointed a substantive Chair, recruited new Members, completed a review of Governance In Action (Framework's Governance Policy) and successfully maintained Framework's G1 1 V2 rating as the outcome of an In-Depth Assessment (IDA) by the Regulator of Social Housing. Building on these achievements, a strengthened Board and Senior Leadership Team are working together to implement the Corporate Plan and monitor delivery against the accompanying targets. The Plan describes how Framework will work towards the realisation of its Mission over the five years from April 2022 to March 2027. Resting on the four pillars, this activity is driven by six Corporate Objectives, as listed overleaf. The manner of pursuing them continues to be influenced by Framework's values- 'Respond, Respect and Empower,. Support for these and adherence to them in professional practice, is an attribute that we seek to recruit, nurture and reward in our staff. PRINCIPAL RISKS AND THE OPERATING ENVIRONMENT The Association's Risk Register records its principal risks. These can be summarised as: Govemance - failure to establish and maintain an effective Board with consequent loss or damage to comrnissioners and stakeholders, confidence in Framework. Legal & regulatory compliance - in governance, viability. consumer standards, complaints. health & safety, service user participation, diversity, inclusion and data protection. Human resources - such as failure to recruit suitsble staff or remain competitive in the labour market. or to engage positively employees andl or their representatives. Finance & treasury management- such as downward pressure on income or increased on staffing, non-staffing, development or interest costs thus affecting covenant compliance. Business, contract. and revenue funding - such as the loss of contributing contracts, or failure to secure new. viable services and to innovate within existing service models. Asset management & property development- such as failure to optimise the use of our assets through appropriate development, disposal and re-modelling. Infrastructure & internal services - such as key system failure, the loss of personal data, contractors failing to meet their obligations and disruption to business continuity. Fundraising & Public Relations- such as failure to deliver our fundraising targets or inability to influence e)rtemal decisions for the benefit of those we serve. Page 8

FRAMEWORK HOUSTrIG ASSOCIATION STRATEGIC REPORT (continued) CORPORATE OBJECTIVES AND ACTIVITY DURING THE YEAR Framework's activity in the year to March 2024 was directed towards the achievement of the six co￿Orate Objectives set out in the Corporate Plan. These are: Growth 2. Standards 3. System Change and Joined-up Services 4. Organisational Strength and Resilience 5. Service User Participation and Empowerment 6. Valuing our People Each of the six Corporate Objectives is defined below, with summaries of the actions that have been taken to achieve them. Objectlve 1: Growth This Means: A further increase in the number of people we reach. Subject to their viability, most existing services will continue throughout the period of the Corporate Plan. Some will be enlarged and others complemented by new provision. Growth will be tailored to deepen our offer in existing or contiguous geographical areas and enhance the range of options for service users. It will improve, and not undermine, the quality and standard of our services. numerical growth target is set for the housing pillar which requires capital investment, but this is not needed for the revenue-dependant Health, Support and Employment Pillars. To achieve this Growth we will: Develop additional units of high-quality, self-contained supported housing. Further expand our health, support, and employment provision (subject to funding) Strengthen our relationships with commissioners, funders and their partners. Withdraw from localtties where it has not been possible to establlsh a viable operating base. Pursue opportunities to join-up services through partnership as well as direct provision. utilise new models for asset procurement (including high quality leases where affordable) Develop a new Fundraising Strategy to add value to commissioned services. Explore the case for a merger if it is demonstrably in Ihe interests of our serrfice users. In the course of the year. 20 additional homes were developed under the Rough Sleepers Accommodation Programme (RSAP). This targets the group of service users who can't or won't be housed by other landlords. The 20231,24 completions include 8 new flats at Birkin Avenue and 6 at Premier Road, both in Nottingham. In addition, six flats purchased in the previous year were refurbished and brought into management at South Park in Lincoln. Two further schemes have begun on-site at High Street in Lincoln and St Matthews House in Nottingham, each comprising 15 units making a totsl of 30 that are scheduled for completion in 20241,25. Land has been identified for a third scheme of 20 units, which we hope to commence this year for completion in 20251,26. All three of these are part-funded with capital and revenue grant through the Single Homelessness Accommodation Programme (SHAP), which will offer longer-term tenancies for people with enduring and complex support needs. The capital budget also includes a component of bank lending and the re-investment of generated surplus, including the proceeds of capital fundraising. Framework is a member of the Lincolnshire Recovery Partnership that has won the contract to provide the alcohol and substance misuse treatment pathway across the county. Our role targets the most vulnerable people including rough sleepers and those involved with crirninal justice. The new pathway will complement existing serrfices, expanding their reach and joining-up delivery with housing-related and specialist floating support. Page 9

FIL4MEWORK HOUSING ASSOCIATION STRATEGIC REPORT (continued) Objective 2: Standards This means: Our services and systems will be suitable for their intended purposes - such as emergency or specialist supported housing, harm reduction, recovery and resettlement; and fit for publication as good practice examples. Our standards drive services, capacity to deliver the best possible outcomes for their users. Systems of assurance to the Board and Senior Leadership Team will draw on the experience of staff, service users and other stakeholders. Standards will be specific to their context and communicated to service users with support to highlight any failure to meet them. Decisions on the initiation, design, amendment and ssation of services will be guided by Framework's ability to deliver them safely, effectively and to the agreed standards. Growth will not be pursued if it compromises standards. To meet these Standards we will: Consult with service users and other stakeholders on standards for each type of provision. Publicise these, inviting and facilitating feedback on our adherence to them. utilise fundraising to raise the offer of services beyond their commissioned minimum. Engage with commissioners to address unnecessary barriers to access. Withdraw from contracts whose specification or circumstances prevent effective delivery. Avoid involvement in any initiative or offer that is unsafe or not in serviGe users. interests. Maintain compliance with legislative and regulatory requirements that relate to our services. Embrace partnerships to underpin or enhance our offer to Servi￿ users. An In-Depth Assessment (IDA) in January 2024, confirmed Framework's G11 V2 rating for compliance with the Regulator of Social Housing's Governance and Viability Standards. This highest rating for Govemance reflects a suite of further improvements to policies, systems and processes since the last IDA in 2020. The V2 (second highest) rating for viability is compliant and (since much of Framework's income is of a contractual nature with short time horizons and tight operating margins) considered satisfactory. Areas of strength highlighted at the IDA'S culmination included governance, financial planning & stress testing, risk management, stock quality, a track record of good financial managernent (despite the un￿rtainty of funding streams) and the suc￿Ssful completion of development schemes. The Board receives annual Self-Assessments demonstrating compliance with the RSH Standards and the Housing Ombudsman's Complaints Handling Code. In addition, the new set of Tenant Satisfaction Measures (TSM) show that 810/0 of Framework's residents are satisfied with the overall Servi￿ it provides. Our performance exceeds the median across all twelve areas when compared with others using the same provider to cary out the TSM Perception SUr￿ey. Leaming from it will be used to inform quality and Servi￿ development. SerVi￿s at Edwin House, The Level and within Nottingham Recovery Network (NRN) are all regulated by the Care Quality Cornrnission (CQC) whose overall 'Good' rating has been maintained. Framework's leadership of NRN enables collaboration with both NHS and third sector partners in researching and publicising the effectiveness of different approaches to reduce the harm caused by substance misuse and its physical complications. With effect from 20241,25 our supported housing for young people will be regulated by Ofsted. Policies, procedures and reporting protocols are in place to ensure compliance with the requirements of the Charity Commission, Health & Safety Executive, Information Commissioner together with those of local commissioners and funders. Page 10

FRAMEWORK HOUSTrIG ASSOCIATION STRATEGIC REPORT (continued) Objective 3: System Change and Joined-up Services This means: Advocating for, planning and implementing System Change. Services should be designed and delivered around the needs of individuals not the other way round. Those presenting in need should not be expected to re-define their circumstances to fit the available offer. This joining-up, of services requires them to be comprehensive and diverse, with no significant gaps. Framework can't achieve this alone - it will work closely with like-minded statutory and voluntary partners to promote a learning culture, sharing expertise and models of good practice to 'add value, for users. To promote System Change we will: Participate in strategic planning and provider fora in the localities where we work. Develop an aspirational model of systemic responses applicable to all geographies. Build our capacity for data collection, analysis, thought leadership and research. Use our knowledge, learning and service-based data to influence commissioning decisions. Enhance offers with our fundraised resources, where there is demonstrable need. Respond to government and council consultations drawing on evidence from serdice users. Contribute to the policy and infiuencing work of national bodies. Campaign for and with people who experience Severe and Multiple Disadvantage (SMD). Network with Ministers, Civil Servants and other stskeholders and interested parties. Services for rough sleepers, and those who experience Severe and Multiple Disadvantage, are at the heart of our work in most areas. To 'join up, these offers we have remained proactive in business development across all four 'pillars'. Most of our existing contracts for baseline supported housing services have been extended or renewed, with the notable exception of Anvil House (in Scunthorpe) where the existing quick access SeN1￿ will cease from May 2024. The adverse 'knock on, implications for other services (including RSAP units promoted by the same local authority) illustrates the challenge not only of creating system change, but also of sustaining it. Developrnents in other localities have been more positive. Our work in the cf(ies of Nottingham and Sheffield continue to be enriched by the 'Changing Futures, Prograrnme, and by specialist additions to housing advice and substance misuse teams with a focus on rough sleepers and those who experience severe and multiple disadvantage. The missing link in these (and other) places is an acute shortage of suitable permanent accommodation both supported and unsupported. Single people with a history of rent arrears, anti-social behaviour or involvementwith the criminal justice system are a low priority for social housing. At the same time, quality and affordability combine to create high barriers of access to the private rented sector. Experience shows that System Change is a process rather than an event. Multiple elements are needed to 'join-up' services. Even in the localities where most of them are in place, the task is to defend what exists whilst pursuing opportunities to complete the jig-saw. Framework is primarily a service provider, but the nature of its work brings unique insight and knowledge to lay on the policy table. It is legitimate for a charity to engage in dialogue with politicians and civil servants on the whole range of matters that impact on our service users. In advance of a General Election this is especially important. Senior Leaders are meeting with current MPS and parliamentary candidates seeking access to relevant Ministers to make the case for Supported Housing as an essential component of System Change. This investment of time and resources will continue into the next Parliament. Page 11

FRAMEWORK HOUSING ASSOCtATION STRATEGIC REPORT (continued) Objective 4: Organisational Strength and Resilience This means: Consolidating and valuing the organisation not as an end in itself but as a vehicle for effective service delivery. Framework must be well governed and led wÈth effective systems, the resources to fund its operations and the capacity to withstand external shocks. The Long- Term Financial Plan, demonstrating our viability on reasonable assumptions, is regularly updated and stress-tested. It provides for investment in strong leadership, asset management & development, staff rewards, serrfice user participation and carbon reduction. To build Organisational Strength and Resilience we will: Target a minimum Operating Margin of 3.0 %. Maintain a cash balance of at least £4.5 million to ensure liquidty. Increase the real value of salaries by a minimum of 100/0 over the life of the plan. Identify mitigations in the form of disGretionary spend (e.g. specialist workers. rough sleeper support & skills training) for removal unless funded, to sustain viability. Consolidate existing arrangements to reduce the number of service delivery partners. Design, pilot and implement opportunities to transform the delivery of existing and future seniices with smaller numbers of (better paid) staff. Negotiate additional borrowingl funding capacity to a maximum of £20 million. Invest in technology to facilitate efficient agile working and a better offer to service users. Further diversrfy our funding sources. The 20231,24 Operating Surplus of £1.748 million represents a margin of 3.05 /0 slightly exceeding the initial target. This compares to £0.972 million (1.78 % ) in 20221,23. It should not be assumed from this that the future path is one of linear improvement- in a challenging environment, difficult decisions are required each and every year to hold expenditure within the envelope of available funding. The value of these reSoUr￿S continues to decrease in real terms. and is palpably inadequate when set against the presenting needs. In this context the 20231,24 result was satisfactory. It exceeded the budget and secured covenant compliance due to proactivity in incorne generation, further efFiciency initiatives and service transformation supported by investment. The management accounts have been further developed to improve service-level reporting and analysis, with greater transparency on cost recovery, central overhead allocation and financial contribution. The Cost-of-Living crisis has impacted negatively on the disposable income of Framework's service users. For those who are sick or unemployed, inflation has run higher than compensatory rises in benefits. Residents of 'core' accommodation-based services pay some of their bills indirectly, excluding them from some of the assistan￿ that central govemment has made available to others. In response to lobbying by Framework and others on this issue the Energy Bill Support (Alternative Funding) Scheme was launched, and we worked with our service users to aC￿sS it and target the resources as intended. The Long-Term Financial Plan (LTFP) has been reviewed and updated with accompanying stress tests and mitigations, to support the Objectives of the Corporate Plan. It maintains provision for asset management and new supported housing development, financed by additional loans. Future revenue projections show achievement of the 30/0 target from year 5 and it remains a shared Board I SLT aspiration to ex￿ed this in subsequent years. The LTFP also indicates continuing covenant compliance for the whole of the 30-year projection, with the minimum liquidity requirements maintsined throughout the period. Page 12

FRAMEWORK HOUStNG ASSOCIATION STRATEGIC REPORT (continued) Objectlve 5: Service User Participation and Empowerment This means: Putting service users at the front and centre of decision-making. The Corporate Plan affirns our role as a needs-driven charity. Tenant Participation is a regulatory requirement, whose principles we extend to all service users including those who experience severe and multiple disadvantage. Beyond this, we must empower them to make and be responsible for their own choices - ac￿ptIng managed risk and avoiding needless patemalism. To Empower Service Users we will: Make strategic decisions (on the provision, expansion, amendment or cessation of services) according to the interests and needs of our current and future service users. Embed servi￿ User Participation in our govemance, management and operations, using these and other channels to consult with them on proposed Ghanges. Improve service users, access to information, advice, counselling & digital services, promoting and investing in these as a route to service transformation. Support willing participants to be visible influencers of commissioning decisions, rf necessary challenging the underlying assumptions from their experience. Improve equality of access to services by seeking the removal of barriers caused by unnecessary restrictions defined by political factors rather than individual need. Sustain funding for independent advocacy and empowemient mechanisms to support Framework's Service User Participation Policy and the accompanying Action Plan. Resource the implementation of Framework's Equalty & Diversity Policy and Action Plan, supported by the Anti-Racism Statement and embedded training for managers and staff. In March 2024 the Board approved its updated Service User Participation Strategy. This reshapes how we will empower service users to participate in both the internal and external work of Framework. It describes a three-year plan to deepen the use of service user insight and strengthen their influence at individual. service, organisational. and 'system' level. The Service User Advisory Group (SUAG) comprises service user representatives. Its meetings are attended by senior staff and Board members. Facilitated by Service User Empowerment and Advocacy (SEA) an independent organisation commissioned and funded by Framework for the purpose, it gathers evidence to assist the scrutiny of our services. There is a standing Board Agenda Item to report back on SUAG meetings and present any recommendations it may wish to make for discussion and approval. Service user representatives took part both the Chair and Board recruitment exercises during 2023. They also participate in the recruitment of senior staff and Servi￿ managers. Mechanisms have been developed to facilitate sen11￿ user inlluence on commissioning- this was especially impactful in the re-design of Nottingham Recovery Network during 2023. Another development area is the use of volunteering, training and employment pathways to maximise the opportunities for service users and others with relevant 'lived experience, to be gainfully employed by Framework. The options include traineeships, apprenticeships, digitsl engagement and mainstream roles at 'front-line' service level. The Board has received and considered a second annual Self-Assessment of Framework's compliance with the Housing Ombudsman's Cornplaints Handling Code. It highlights SEA'S role as a specialist resource to assist service users who wish to complain, express concern (or appreciation) about any aspect of their Framework experience. This helps to clarify the issue, facilitate investigation and inform the response, including learning from the case. Page 13

FRAMEWORtC HOUSING ASSOCIATION STRATEGIC REPORT (continued) Objective 6: Valuing our People This means: Investing in the organisational capacity brought by effective leadership and management of skilled, motivated and resilient workforce. The essence of support is an encounter between people, one of whom needs help to navigate an event or situation. Framework staff are known for the commitment, dedication and passion imbued in their work. Financial constraints diminish the rewards for these qualities. We plan a 100/0 increase in the real value of pay with accompanying, cost-effective non-salary measures. To acknowledge the Value of our People we will: Improve pay and non-pay rewards to support the recruitment and retsntion of high-qualty staff, relief workers and volunteers. Offer recognition, career development, supervision and training opportunities in an emerging culture of innovation, devolved authority and accountability. Develop the business acumen, information teGhnology, data collection, analysis and negotiation skills that will equip our workforce to respond to these changes. Facilitate remote working, flexible hours, holiday purGhase and other workl life balance initiatives within the constraints of efficient rota management. Reduce absence through an appropriate combination of challenge, intervention. specialist support and reasonable adjustments. Promote an Action Plan of equality, diversity and inclusion events, activities and training overseen by the Diversty Leadership Group Maintain the 'lnvestor in People, (IIP) 'Gold' Standard & enshrine its ethos in our strategies. Only 17 % of IIP accredited organisations reach the 'Gold' standard; Framework is proud to have done so and sustained it. Building on this, the new role of Staff Wellbeing Practitioner is at the heart of a comprehensive welfare offer. A full review of staff training needs has been undertaken, resulting in a new induction programme that underpins an apparent stabilisation of staff retention. New leaming sets have been established within a more sophisticated training programme to equip managers and staff with the attributes they need to deliver personalised, joined-up and psychologically informed services. Sickness levels remain above target. Detailed analysis shows that long-term absence is well managed so the primary foGUS is on short-term absence. This includes training for managers through the new learning sets, on how to deal with it in a manner that is appropriately robust and compassionate. The pay offer to accommodation-based and street outreach staff {essentially those working shifts) has been bolstered by completion of the 'Transformation' Programrne whereby a 100/0 uplift was contingent on efficiency savings. The accompanying recruitment processes have been amended to highlight both the rewards and the expectations. This is having a positive impact in those areas where vacancies and the associated reliance on agency staffing has been greatest. By filling more vacancies with in-house stsff we are saving money and improving the experience of those service users who rely on us the most. The Board continues to prioritise salaries within the budget. The baseline pay award (3.1 % ) from April 2024 was below the comparator inflation rate (3.40/0). This must be considered in the context of 9.8 % rise in the National Living Wage, which affects a growing proportion of Framework staff. Additional resources were also allocated to sustain part of the differential created by the Transformation Programme. The average salary increase was 5.1 % . Pag¢ 14

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (continued) Other Organisatlonal Prlorlties Work with Rough Sleepers This continues in the Cities of Nottingham, Lincoln and Sheffield and across the County of Nottinghamshire. Whilst core homelessness pathways are contract-funded by the relevant local authority, we work through local partnerships to Influen￿ the Govemment's Rough Sleepers Initiative (RSI) and respond to the opportunities it brings. When combined with the allocation of fundraised income, RSI adds specialist roles to existing street outreach teams and funds additional quick-access accommodation together with enhancements to drug, alcohol & mental health interventions thus improving access to mainstream services. Most of the Rsl-funded contracts are due to expire in March 2025 and it is hoped that some or most will be extended at that point. If not, their wind-down will have a profound negative impact on service users who are not normally prioritised within the core pathways. An example is the Rough Sleeping Prevention and Assessment Hub, a new service sited at London Road, which opened in 2023 - but currently has a limited lrfespan. It offers 20 emergency bedspaces with a wide range of intensive support for rough sleepers referred by the Nottingham Street Outreach Team. Most of these clients have multiple or complex needs and could not otherNise be placed quickly in suitsble accommodation. The P & A Hub 'buys time, to identify a mediuml long-term solution - which could be one of the new SHAP-funded services described below. It remains to be seen whether the Hub's funding will last for long enough to overlap (or at least coincide) with their opening. The temporary enhancement of emergency and short-term responses has been complemented by new supported tenancies for former rough sleepers, initially through the Rough Sleepers Accommodation Programme (RSAP) which has now ended. Its SUC￿sS0r is the Single Homelessness Accommodation Programme (SHAP) to which Framework has made three successful bids for capital and revenue funding. The completion of all three schemes will deliver a total of 50 units (35 in Nottingham and 15 in Lincoln) by the end of the 2025 calendar year. In the meantime we have re-provisioned the 20 London Road bedspaces that now comprise the P & A Hub, to leased properties on two separate sites- this further enhances short-tem capacity. It is not envisaged that these replacements will remain far beyond the Hub's cessation. However, we will be able to exercise flexibility in the timing of their closure so it dovetails with the completion of new SHAP schemes. An added dimension to the problem of rough sleeping in 2023, was the Horne Office decision to evict refugees from its accommodation soon after they are granted 'leave to remain,. It is frequently obser￿ed that a single govemment department can't solve homelessness on its own. By contrast, this is an example of one that has consciously acted to make it worse, and succeeded in doing so. Working with City Council colleagues we acted promptly to bring an empty propety (40 Forest Road) back into use as 12 units for refugees who have presented as homeless in the City of Nottingham consequential to this national directive. In 2023 Framework responded to a re-procurement of Nottingham City Council's Framework for the cornmissioning of Services to Rough Sleepers. This enormous exercise occupied much senior staff time and intellectual resource. The outcome was success in some categories (such as the P & A Hub), the continuation of others (eg. Street Outreach) and the loss of Housing First resources to a different provider. Another competitor won the contract to provide 20 additional units of temporary accommodation for specific target groups. It has since failed to deliver so Framework is exploring ways of responding to the Council's request for us to fill the gap. Page 15

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (continued) other Organisational Priorities Supported Accommodation for Young People In 2021 Framework tendered unsuccessfully to retain its existing contracts for Transitions (North) and Transitions (South). These provided supported accommodation for young homeless people (including Care Leavers) in parts of Nottinghamshire. The tender specifications implied a welcome step change in the quality and configuration of the properties to be deployed, but were unrealistic on both timescale and the cost- which fell far short of coverage by the contract value. Framework took the commissioners at their word by submitting realistic responses that would ultimately have delivered what was required, but its tenders were rejected as non-compliant because their value exceeded the funding envelope. It subsequently transpired that the commissioners weren't serious about their intentions - relaxing their expectations when it became clear that they couldn't be met. Both contracts were lost and transferred to different providers. The handovers were partially delayed due to the non-availability of sufficient housing properties and whilst Transitions (North) has now ceased, we continue to run the 'core' element of Transitions (South). This is based on an interim contracting arrangement on the principle of full cost recovery. One of the properties used is Trent Boulevard (West Bridgford) which is planned for disposal when the contract finally ends. The other is Ivy House (Carlton) which will either be handed back to its owner or transferred to another service, depending on the timescale. It is feared that the new provider's replacement core provision may not become available until 2026. In the meantime Framework continues to deliver this and other supported housing for young people in the City of Nottingham and the Boroughs of Amber Valley, Erewash and South Derbyshire. It is complemented by specific provision for Unaccompanied Asylum Seeking Children (UASC) some of whom have arrived in the United Kingdom via 'small boats,. The challenge of resourcing these services is now exacerbated by onerous administrative requirements associated with Ofsted's new national role as the regulator of supported housing for children and young people aged 16 to 17. A complication is that the contracts cover a broader age range and it is unclear whether physical separation is expected. For now, it is too soon to judge whether Ofsted's poor reputation as schools inspector will translate to this new function. Framework will continue to monitor the cost implications of their involvement, in the expectation that these will be fully recovered from commissioners. If not we will have no option but to plan for withdrawal from the provision of supported accommodation for young people. Employment and Skills In May 23 Opportunity & Change, a significant employment and skills programme funded jointly by the Big Lottery Fund and European Union, ended. Framework was instrumental in securing partial replacement funding (including for partner providers) from the UK Shared Prosperity Fund. The GROW project is targeted on the City of Nottingham and the District of Newark & Sherwood. It works to improve the confidence and wellbeing of individuals considered furthest away from the labour market, building their life skills and signposting them towards suitable employment. In addition the Big Lottery (Reaching Communities) Fund has awarded £460k to sustain Framework's 'Skills Plus and Home Plus, programme until September 2026. This tsrgets people who are preparing to move on from supported housing and need to develop the attributes required for independent living. Page 16

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (contlnued) Other Organlsational Priorities Employment and Skills (continued) Framework's Employment and Skills offer is enriched by strong relationships with several corporate partners who are donating Information and Communication Technology to us. This supports a 'digital inclusion, offer across multiple sites in Nottinghamshire. So far more than 350 items (including desktops. laptops and mobile phones) have been distributed together with thousands of Sim Cards to people using services across all four pillars. A new Volunteer Pathway was launched in 2023, with more structured opportunities to develop skills, gain experience and progress towards paid employment. Of nine participants to date, two have gained employment with Framework. Historically, the Employment and Skills team have a specific commitment to work with Afghan and Syrian refugees in Newark & Sherwood, initially helping them to volunteer and then to access paid work. New funding was recently secured to continue this for two more years. A new Department for Work and Pensions pilot contract ('Pioneerf) began in September 2023 and Framework has been involved. Pioneer is expected to inform the development of the DWP'S new Universal Support Programme that is due for launch in 2025. Consolidation Strategy This describes a plan to replace 800/0 of Framework's inherited (and frequently dispersed) shared housing units with self-contained provision. By March 2024 the number of shared units has been reduced by 84 (21 /0) with 64 new self-contained units replacing them. The numbers would have been higher but for a requirement, for social reasons, to retain shared housing within the Unaccompanied Asylum-seeking Children (USAC) contract. The cessation of Transitions (North) and the cluster element of Transitions (South) has given impetus to Consolidation over the past twelve months. One outcome to date is that Framework no longer manages any shared housing in either the Ashfield or the Mansfield District of Nottinghamshire. The completion of twenty new self-contained flats in Nottingham and Lincoln is a further contribution to the strategy, which is already impacting positively on occupancy levels, void losses and management costs. The three SHAP projects that are planned to deliverfifty new units in 2025, may facilitate further handbacks of shared housing. Supported Houslng- Quallty Improvement Project Pending the finalisation of the new national standards, Framework has an intemal initiative to improve the 'support' element of its housing offer. It reflects an awareness that much has changed in supported housing over the past fifteen years. The Quality Assessment Framework (QAF) that once accompanied 'Supporting People, contracts has ￿aSed to exist. With resourcing much diminished, the emphasis has switched from 'support' (making positive things happen) to 'management' (preventing negative things from happening). This combined with the genericization of services, and constraints on the salaries of those delivering them, has impacted on the culture of services. The purpose of the Quality Improvement Project is to create a new Standard Operating Procedure (SOP) for accommodation-based services and to update support planning, record keeping, supervision, training and handover practice. The accompanying guidance includes a service self-audit tool (akin to the former QAF) with associated assurance processes. Excellent progress has been made with this project during 20231,24 and it will continue into 20241,25. Page 17

FRAMEWORIC HOUSING ASSOCIATION STRATEGIC REPORT (continued) Other Organlsational Priorities Leadership Academy During the year, eight stsff members successfully completed the Leadership Academy Programme. This is part of our commitment to succession planning, people development and the internal progression of managers & future leaders. Building on the learning from each new cohort the Leadership Academy Programme goes from strength to strength. Recruitment of the 20241,25 entrants has just commenced. Regulator of Social Housing ~ Consumer Standards The Regulator of Social Housing's new Consumer Standards came into force from April 2024. Framework has prepared for this by expanding the Self-Assessment of Compliance presented to the Board. and through the decision to create a new Service Delivery Committee whose work will commence in September 2024. The latterfs purpose is to improve the visibility of service-related issues (including outputs, outcomes and safeguarding) among Board Members and at a strategic level. Framework carried out its Tenant Satisfaction (Perception) Survey in May 2023. It showed that 810/0 of its residents were satisfied with the overall service they received. 86 % considered that they are treated fairly and with respect. All the measures achieved 71 % or higher; the data so far indicates good performance when compared to other landlords. These Surrfey results were complemented by feedback from three 'tenant roadshows, where focus groups discussed repairs & maintenance, anti-social behaviour, complaints and engagement with the local community. They also considered how Framework could better support its residents to feedback on our performance, informing future Self-Assessments of Compliance with the Consumer Standards, through Service User Voice. A focus on the new Consumer Stsndards will remain throughout 20241,25 and beyond. The Board will seek assurance of our compliance with them through Annual Self-Assessments, the work of the Service Delivery Committee, the annual Tenant Perception Survey and the quarterly Performance Assurance Dashboard. These will be complemented by the work of the Service User Advisory Group (SUAG) who will continue to influence and scrutinise our work. New information made available on the website will allow individual residents to analyse our performance and raise issues about it directly with the organisation. Supported Houslng (Regulatory Oversight) Act 2023 This legislation has its origins in the demise of 'Supporting People,. Commissioned supported housing, with the accompanying arrangements for quality and outcomes monitoring, was lost. Several local authorities (including some of the largest 'cutters') raised concern about new providers filling the consequent gaps in supply. Frequently, their offer comprised poor quality housing with low (or even zero) support funded mainly through Housing Benefit. Regrettably, Government's concem about the paucity (or absence) of support encompasses no recognition of the need for a programme to resource it. Aspects of the legislation - for instance the establishment of a new National Advisory Panel for Supported Housing and the requirement for local authorities to create strategies for it, are welcome. However, the proposed National Standards can only succeed if accompanied by new resources to deliver them. In the meantime, new guidelines issued by the Department for Work and Pensions under the cover of the Act, are making it harder to sustain existing work regardless of its quality. Framework has attempted to highlight the risk of further closures, so far without success. Page 18

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (continued) Fundralsing Strategy In 2022 the Board approved a new Fundraising Strategy to secure complementary resources that will add value to commissioned services. This includes a new focus on developing the digital fundraising offer, the enhancement of the donor database & joumey and appropriate support for those considering a legacy to Framework in their will. In the summer of 2023 we held the Young Supporters Awards, an uplifting event celebrating the contribution of young people who are raising money for Framework. Equality, Diversity and Inclusion In accordance with its Policy the Board has reviewed Framework's Equality, Diversity and Inclusion Action Plan. It concluded that significant progress has been made across all five of the plan objectives. The Diversity Leadership Group (DLG) has now produced toolkits for serrfices to include equality and diversity targets in their own development plans. Peer-led 'safe spaces, have been established for Black and Brown staff, LGBTQ+ and Menopause support, with a Disability safe space scheduled to begin in 2024. All managers have completed Anti-Racism training in the past year. The Anti-Racism Group is leading on the development of a fvrther training package to be rolled out to other staff in the next twelve months. Framework is a member of the Nottingham Place-Based Partnership's Health Inequality (Race) Workstream. In this capaGity we have helped to develop a health inequality matrix that is now being piloted in several Framework servI￿s. The DLG has a workstream that focuses on reducing barriers to the recruitment and retention of staff (including managers and leaders) with protected characteristics. Servlce User Numbers In the year to March 2024 Framework assisted 19,552 individuals. 2,296 of these lived in its supported housing, 8,330 received health interventions, 6.588 used cornrnunity-based support and 2,338 accessed education, training or employment interventions (including opportunities to volunteer). When compared to the 17,979 people who used our services in the previous year, this represents an overall rise of 90/0. Three of the pillars saw an increase, the ex￿ption being Housing where the number fell slightly by 158. This is partly attributsble to contract changes in the early part of the year, which impacted temporarily on the availability of properties. Another factor is extended lengths of stay in 'core' accommodation services due to the scarcity of suitable move-on options. We hope to address this issue through further development of move-on units will help to address this issue in the coming years. Gender Pay Gap Two thirds of Framework's staff are female. At the end of the year our mean gender pay gap was 6.290/0 (compared to a national average of 12.8/0). The median gap was 0% (compared to a national average of 120/0). The Pay and Grading structure initiated in 2018 has been a factor in minimising (and on one occasion, reversing) Framework's Gender Pay Gap over the past five years. Page 19

FRAMEWOBJ( HOUSING ASSOCIATION STRATEGIC REPORT (continued) VALUE FOR MONEY STATEMENT Framework is strongly committed to achieving Value for Money (Vfm) in all its activity. Further success in bidding for and winning service contracts clearly depends on our abilty to do 'more for less, in the continuing climate of restrictions in public (especially local authority) funding. In some instances viable bids are not possible within the financial parameters that the Board has agreed to protect the organisation when reaching these decisions. The positive impact of Vfm projects undertaken in the past year, on the 20231,24 financial out-turn, is estimated at £712k. This exceeds our target. They include: Voids Reduction Project Increasing the Recovery of HB-Ineligible Serrfice Charges. Utilisation of e-learning, apprenticeship levy and other efficiencies in training & development. Fundraising from corporate partners, some of whose 'in-kind' donations replace cash spend. Treasury Management, including the use of a Revolving Credit Facility. Contract re-procurement, re-configuration and robust negotiations. Worlrforce development to redu￿ reliance on agency staff and extemal specialisms. Active management of furniture & fitting costs through standardisation, recycling, fundraising and repair. Completion of the Transformation Project in accommodation-based and outreach settings. 'Added value, offers when re-negotiating contracts and grant funding with commissioners. In addition, significant capital grants were secured to support development projects both to upgrade existing housing units and acquirel build new ones - in particular through RSAP, SHAP and the Affordable Homes Programme. Framework reports annually on the seven Value for Money (Vfm) rnetrics set out by the Regulator of Social Housing in its Value for Money Standard. The figures in the table below have been calculated in accordance with the Vfm standard (technical note) and are presented with their previous year comparators: Descrlptlon Framework 20241,25 (Budget) 8.64% Framework 20231.24 Frameworf 20221.23 Soclal Hsg Medlan 20221,23 Measure Reinvestment by Cost New supply delivered by Units Gearing EBITDA-MRI Interest Cover 4.940 6.600/• 3.70% 1.72° 4.42°/ 1.300 7.35° 5.630 6.130 45.5° 238.90% 261.320 269.44. Headline Social Housing Cost per Unit a) Operating Margin on Social Housing b) Operating Margin Overall Retum on Capital Employed £29.9k £29.5k £27.7k £4.6k 3.80° 3.28. 3.92% 2.76Yo 1.780 19.9°A 18.8% 2.130 2.800 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. In some years there may be no development at all. Page 20

FRA[￿WORK HOus￿G ASSOCIATION STRATEGIC REPORT (continued) Standard Metric 3 (Gearing) is low compared to many housing associations. This is because the primary constraint on our housing development is the availability of capital grants and ongoing revenue funding, both of which affect operating margins, rather than loan finance. It would be possible to borrow more and thus develop more quickly, but the risks involved in doing so are higher than the Board can accept given the margins on our support contracts. The above-average cover reported by Metric 4 {EBITDA) reflects both the level of gearing and the low interest rates on some of our existing loans. Standard Metric 5 (Headline Social Housing Cost per Unit) is significantly raised by the inclusion of Intensive Housing Management and (primarily staff-related) support costs. Framework has over thity separate locations where a twenty-four-hour staffing presence is required on 365 days per annum. 5.5 full time equivalent staff are needed to maintsin a single person duty rota for 168 hours per week. In practice the minimum requirement is usually three or more staff at a time in daytime hours, and a minimum of two overnight. In addition to these 'core' housing services our dispersed (or 'move-on) units also require more visiting staff than mainstream social housing. These and other factors (the higher tumover of residents, contract clauses that artificially increase voids and greater wear & tear on buildings) all drive unit costs, and their impact is greater at a time of cost inflation. standard Metrics 6a) and 6b) (Operating Margins) show an increase in the overall margin that is attributable to the non-housing pillars. This reflects the focused work that has been done on income maximisation and efficiency. Our target for the next five years is to establish and sustain a minimum Operating Margin of 3Q/o rising to 4 % . whilst keeping services safe and effective. The Ghallenge this involves is reflected in the narrative of this report, and the fact that the Long-Term Financial Plan projection does not reach the 4 % target margin until the medium term. Our aspiration is that the continued identification of new income streams, the enhanced Fundraising Strategy and further efficiencies in services and the ￿ntral office, will enable us to achieve both the service-oriented Objectives of the Corporate Plan and its accompanying financial targets. standard Metric 7 (Retum on Capital Employed) reflects the same underlying factors as the operating margin. Framework's Additional VFM Metrics Framework reports on its own set of Vfm metrics to complement the stsndard ones. The 2023-'24 figures are presented overleaf, with comparative data for the previous year and the 2024-'25 budget forecasts. The purpose of these additional metrics is to assist the Board in assessing how efficiently the organisation is being run, the impact of changes to services and of measures to enhance efficiency. They also illustrate the variation in cost of providing these services per individual and (to a lesser extent) per hour, both between (and within) the pillars. This is because the nature of the service varies according to the specialism of the staff who deliver it. The housing metric (cost per service user rather than per hour) is sensitive to small changes in the throughput to and from direct access and similar servI￿s. Their residents are the sub-set of our service users with the highest and most complex needs. Increased costs due to inflationary pressures in areas such as energy, insurance and maintenance have impacted on this metric. The new properties developed or acquired as part of the Rough Sleepers Accommodation Programme cary revenue funding to support former rough sleepers in their resettlement from the streets - contributing to a rise in the housing cost metric on a 'per service userf basis whilst helping to reduce the amount 'per hour,. Page 21

FRAMEWORIC HOUSING ASSOCIATION STRATEGIC REPORT (continued) Frarnewoyk VIM Measure Budget 20241'251£) 20231,24 (£) 20221,23 (£) Cost per SeThice User by Pillar: Housing Health Employment Support C05t per Hour of SeNlce by Pillar: Houslng Health Employment Support Central Cost as a % of the Total 13,501 1,658 13,362 1,565 741 1.479 11,716 1,556 1,332 1,597 1.181 39.13 39.20 22.88 23.07 41.13 43.37 23.37 25.82 36.04 43.23 32.42 24.75 21.33Yo 18.90Yo The health. employment and support interventions encompass a broader range of people so their cost (per person) is lower than for housing. Against this, the 'health' pillar requires more highly paid professionals (including nurses) and the specialist elements have been enhanced by new funding in the past year- thus driving an increase in the (but not hourly) cost. 2023 saw further changes in the specifications and delivery mechanisms of support and employment services; consequently both the unit ('per service user,) and hourly costs have fallen in the past year. Value for Money in the coming year The Value for Money (Vfm) Strategy is a key element of Framework's Long-Tem Financial Plan, through which we hope to sustain services for as many individuals as possible even in a challenging environment. It describes the quest for an optimal balance between high productivity, controlled costs and successful outcomes for service users. It sets targets in these and other areas and describes the actions that Framework is taking to achieve them. These include annual reporting of the Standard Vfm Metrics and the use of additional ones specific to Framework. The year-on-year comparisons allow the Board to monitor the success of the Strategy in releasing resources for front-line Servi￿ delivery. The Vfm Strategy was updated in 2022, and the efficiency target for the current year (2024125) is increased at 1,050k. Our plans to realise it focus on the maximisation of income through proactive management of voids, enhancements in the collection of HB-ineligible service charges and close working with. Commissioners on contract values and performance. Reductions in agency costs are targeted through investment in ourWorkfor￿ and processes. Technological development continues to support agile working, process automation and the effectiveness of systems. Further efficiencies are planned and expected as a result of the Asset Management Strategy and the re-procurement of major supplies. Another dimension of Vfm is the enhancement of our service offer at a time when local authority and other statutory funding is under renewed pressure despite increased and more complex presenting need. This is supported by the Fundraising Strategy, to resource the bespoke design of services wherever possible, around the needs of their users. Page 22

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (continued) Significant aspects of this 'joined-up' offer include: Basic items (food, toiletries and clothing) for those in immediate need. Our practice in PIE (Psychologically Informed Environments) & TIC (Trauma Informed Care). Outreach to Substan￿ misusers and people with physical & mental health issues. Rapid access to specialist treatment for the above. The availability of clinical psychologists and social work professionals. An 'Access to Worf(' fund to assist those caught by the benefrts trap. Rent deposits. guarantees, fumiture and equipment for those establishing a tenancy. PENSIONS For most staff our pension contributions are on a 'defined contribution, basis - complying with the auto-enrolment law but uncompetitive with the 'defined benefit, (final salary) schemes still seen in the public sector. This is a factor in the non-retention of employees attracted to better paid roles with local authorities and other statutory bodies. A small number of Framework staff were inherited via TUPE with a right to remain in the Local Government Pension Scheme - hence the annual pension adjustment to the accounts. PAY RATIOS The Board is committed to reporting on the ratio between the highest and lowest paid Framework employees. In 20231,24 this was 5.11 (2022123: 5.33). The ratio between the highest salary and the median was 4.37 (unchanged from 20221,23. A recent benchmarking exercise showed that in the wider third sector, the average ratio between the highest and the lowest salary is 7.00, and that between the highest and the rnedian salary is 5.00. STREAMLINED ENERGY AND CARBON REPORTING ('SECR') The current emissions (for April 2023 to March 2024) have decreased by 270 tonnes of C02e compared to the base year (20221,23). However, these figures include an adjustment for gas relating to previous years; when this is excluded there is an increase of 99 tonnes (4.60/0). Whilst the usage of gas has increased. that of electricity has decreased. This is due to a combination of: Changes in the configuration of properties during the year The positive impact of our energy reduction campaign Greater frequency of meter readings An increase in stsff travel due to more face-to-face work post-covid. The Asset Management Strategy was reviewed during 20211,22 and updated to increase investment in carbon emission reduction. As part of this, work was carried out to identify the number of Framework that currently fall below an Energy Performance Certificate (EPC) 'C' rating. There seventy of these, and the plan is to eradicate them (through development, improvement and disposal) over the next four years. Remediation work will optimise the thermal efficiency of the external fabric and combine this with efficient heating & low energy lighting. The sarne principles are embedded in Framework's development programme (both new- build and refurbishments. Our plans incorporate the recommendation of the UK Committee on Climate Change that from 2025, no new home should be connected to a gas grid and a carbon emission position of 'net zero, rnust be reached by 2050. Page 23

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (continued) During the year Framework cornmenced an £80k programme of energy efficiency work that is 500/0 funded by the Social Housing Decarbonisation Fund. On completion, this will upgrade 15 properties that currently have an EPC rating of D or E, to grade C or above. We plan to make further bids to the fund on a similar basis, to upgrade more properties in the coming years. Framework's energy reduction campaign continues into 20241,25. It is supported by enhanced data on energy usage at propety level, informing targeted communication and focused adion on the higher usage sites. Smart meters continued to be implemented where applicable, replacing pre-payment meters (which are expensive for residents) in our leasehold properties. Residents who wish to establish their own schemes to redu￿ energy consumption are offered encouragement and support to do so. Stsff who invest in electric vehicles can utilise two charging points in the Central Office car park. This facility reserves 8 % of our parking for those with electric vehicles, and we hope to extend it to other locations in the future. The table below provides a summary of our energy use during the year in accordance with the requirements of the Streamlined Energy and Carbon Reporting legislation. The associated greenhouse gases have been calculated using the UK Govemment's GHG Conversion Factors for Company Reporting. Note that these figures include no adjustment for additional carbon that may be produced due to staff working from home. Measure 20231,24 20221,23 UK energy use (1) kwh Associated Greenhouse gas emissions Tonnes co2 equivalent Intensity ratio Emissions per property 11,038,813 20,845,423 2245.40 3,968.66 1.72 3.03 1) UK energy use covers all Framework activities. Page 24

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (contlnued) FINANCIAL REVIEW OF THE YEAR Flnancial results Framework's tumover in 20231,24 was £57.26 million, an increase of £2.73m on the comparable figure for 20221,23 which was £54.53m. A component of the increase was higher rent and service charge receipts, due partly to the annual uprating but also to new properties coming into management. Another source of new income was from central Government for enhancements to substance misuse and mental health ser￿iceS specifically for rough sleepers and those at risk of sleeping rough. The headline operating surplus was £1.75 million (3.05°/o margin), an increase of £0.78 million on the 20221,23 figure {£0.97m). This slightly exceeds the 3 % target in the Corporate Plan. The 20231.24 out-turn constitutes the baseline for an updated Long-Term Financial Plan, which is also informed by the Asset Management and Development strategy. Provision is made for re-investment in our housing assets to sustain their quality, safety, energy efficiency, lending and book values. A comprehensive Asset and Liability Register is maintained. There is a strong organisational focus on managing the risks to Frarnework's financial position. In particular, the combination of static I reduced contract values and an organisational aspiration to increase the real value of salaries - not least to aid recruitment and retention, is a considerable and growing pressure. During 20231,24 we have embedded principles such as agile working, training tools, and transformed models of service delivery in our 'business as usual, operation. These are accompanied by further steps to drive efficiency in the provision of 'back office, functions through cost reductions in recruitment, Offi￿ furniture, training and professional fees. Reserves Reserves are retained at a level that allow Framework to continue providing its services whilst managing the risks associated with future growth plans. The budget and thirty-year forecast are reviewed and re-set annually to achieve this. The revenue reserve was £31.1 million at 31st March 2024, but free reserves were substantially less due to grant liabilities. Capitsl Structure and Treasury Pollcy Framework's long-term borrowings are 20-25 year loans, at a combination of fixed and variable interest rates, from Charity Bank, Natwest and Nottingham Building Society. The value of loans outstanding at the year-end has been reduced, when compared to the previous year, by the establishment of a Revolving Credit Facility (RCF). Undrawn to date, this £3.6 million RCF agreed during the year. Within the Treasury Strategy it replaces existing variable rate loans to sustain liquidity whilst minimizing its cost. This was a significant factor in the improved financial out-turn for 2023r24. In view of this we have started conversations with an existing lenders on the progression of a further RCF to be completed during 2024. In addition, the onward growth plans will be part-funded by lending from a new counter-party, also to be finalised this year. Cash-flow remains strong with all banking covenants met and the projections show continued complian￿. The year-end cash balances were higher than LTFP forecasts due the timing of growth opportunities. Our cash resources will be invested primarily in asset management and property development during 20241,25. Drawing on specialist professional advice, the Board has updated the Treasury Strategy to inform future investment and financing decisions. Page 25

FRAMEWORK HOUSING ASSOCIATION STRATEGIC REPORT (continued) FINANCIAL REVIEW OF THE YEAR (continued) Impairment The Board has considered whether any impairment of assets should take place. After reviewing the potential indicators including empty properties, any increases in voids or falls in rental income it concluded that there was no need for a write down of any carrying value. Going Concern After making appropriate enquiries the Board believes that Framework has sufficient funding in place, and expects the Association to be compliant with its debt covenants even in the event of severe but plausible downside scenarios. The Board is confident that Framework will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. Therefore the statements have been prepared on a 'Going Concem, basis. INTERNAL CONTROLS ASSURANCE The Board is responsible for ensuring that Framework has adequate systems in pla￿ to deliver effective and efficient operations, reliable internal and extemal reporting, and compliance with applicable laws & regulations and intemal policies. The most significant risks to the achievement of the Association's objectives will be recognised,. managed and minimised if such internal control systems are in place. Acknowledging that no system can eliminate all risk, the intemal controls will also provide reasonable assurance of the identification and effective management of the major risks. The Board has again considered and updated its Risk Appetite Statement, in the light of which the Senior Leadership Team periodically reviews the Risk Register and Heat Map. The outcomes infom oversight of Risk Identification and Management by the Audit and Risk Management (ARM) Committee. Any necessary steps arising from this are enacted directly within the authority of the Cornmittee or senior leaders, or recommended to the Board. The Intemal Controls Framework has been summarised and analysed on a 'three lines of defence, model. The following sources of assurance were considered by the Board in reaching its conclusion on the adequacy of the framework: Risk Management Policy with active monitoring of the Risk Register by the ARM Committee Intemal management oversight by FraMeWo￿,S Senior Leadership Team Regular Review of Key Control Policies with oversight by the Corporate Leadership Team Quality Assuran￿ Frameworf( and KPI reporting SeNice User Involvement and Feedback Health & Safety management systems Incident reporting and monitoring Extemal quality management accreditations (including Cyber Essentials) Extemal audit delivered by Beever and Stnrthers Intemal Audit Programme delivered by Mazars Extemal specialist reviews for Information Security Management and Health & Safety Social Housing Regulator rating G11 V2 (March 2024) Fraud Policy and Whistleblowing Policy Page 26

FRAMEWORK HOus￿G ASSOCIATION STRATEGIC REPORT (continued) INTERNAL CONTROLS ASSURANCE (continued) At its meeting on 16th May 2024, the Board considered and approved the effectiveness of the intemal control systems in managing the most significant risks to delivery of the Objectives set out in Framework's Corporate Plan. It affinns its satisfaction that: There is sufficient evidence to confirm that adequate systems of internal control existed throughout the 2023124 financial year and that these systems remain in operation; These systems were aligned to an ongoing process for the management of the most significant risks faced by th8 Association: They provide reasonable assurance that the financial and operational infonmation produced by the Association is reliable, and that its assets and interests are safeguarded; There are no weaknesses in the Gontrols that are sufficiently serious to cause a mis- statement or material loss that would require disclosure in the financial statements. Fraud Management Framework has clear policies in its Code of Conduct to reduce the risk of fraud in relation to the activities of Board Members, Management and Staff. The Association complies with relevant regulatory requirements. A register is maintained of all actual and attempted frauds and this is presented annually to the Board. If there are any significant cases of fraud during the year the Chief Executive is required to bring them to the Board's attention. Self-Appraisal by the Board and Committees The Board and its Committees self-appraise their own performance and Framework's compliance with the legal and regulatory frameworks in which it operates. This is supported by a Protocol on Regulatory Reporting, and the Intemal Controls Assurance Register that provides a check on complian￿, monitored by the Audit and Risk Management Committee. PUBLIC BENEFIT AND FUNDRAISING ACTIVITIES As a Registered Charity, Framework is subject to the provisions of the Charities Acts 2011 and 2016. These create an obligation to demonstrate explicitly that the organisation's aims are for the public benefit. The Board of Framework is satisfied that by providing services to homeless, vulnerable and excluded people in furtherance of its charitable objects as described above, Framework is complying with its public benefit duty. Framework raises funds directly from the public to resource aspects of its activity that aren't funded from statutory sources. This work is carried out by a specialist team of employees supported by volunteers. Third party professional fundraisers are not involved. During the year, Framework registered with the Fundraising Regulator and has fully complied with its Fundraising Prornise. No complaints were re￿iVed about fundraising activity. To protect vulnerable people and others Framework does not employ cold calling for fundraising, nor are supporters approached more than three times per annum. Targeted asks are restricted to those who have already indicated their support for the organisation. Approved by the Board on 18th July 2024 and slgned on its behalf by: Ruth Hawkins (Chair) Page 27

FRAMEWORK HOUSING ASSOCIATION BOARD REPORT BOARD MEMBERSHIP The members below, who are considered directors for Company Law purposes, have sep4ed in office from 1 st April 2023 to the date of this report except where othenNise indicated. Ruth Hawkins Appointed as Chair (previously interim) from 14.09.23 Patrick Mitchell Vice Chair (retired 31.03.24) Louise Harris Appointed Chair of Audit and Risk Management Committee from 14.09.23 Catherine Arkley Chair of Govemance. Remuneration & Appraisal Committee Tim Gallimore Resigned 13.07.2023 Vinay Shankar Retired 31.03.2024 Alan Davies Appointed 14.09.2023 Sheona MacLoed Appointed 14.09.2023 Rob Main Appointed 14.09.2023 Brigitte Scammell Appointed 14.09.2023 Neil Jones Appointed 14.09.2023 Marcus Beale Appointed 14.09.2023 Paddy Tipping Holly Dagnall Nigel Tumer STATEMENT OF DIRECTORS, RESPONSIBILITIES IN RESPECT OF THE STRATEGIC REPORT, THE BOARD REPORT, AND THE FINANCIAL STATEMENTS The directors are responsible for preparing the Strategic Report. the Directors Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law they have elected to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), FRS 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company, and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; assess the company's ability to continue as a going concern, disclosing, as applicable. matters related to going concern: and use the going concern basis of accounting unless they intend either to liquidate the Gompany or to cease operations, or have no realistic alternative but to do so. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the association's transactions, to disclose with reasonable accuracy at any time the financial position of the association and enable them to ensure that the financial statements comply with the: Companies Act 2006 Housing and Regeneration Act 2008 and Accounting Direction for Private Registered Providers of Social Housing 2022. Page 28

FRAMEWORK HOUSING ASSOCIATION BOARD REPORT (continued) STATEMENT OF DIRECTORS. RESPONSIBILITIES IN RESPECT OF THE STRATEGIC REPORT, THE BOARD REPORT, AND THE FINANCIAL STATEMENTS (continued) Directors are responsible for intemal control as they determine is necessary enabling the preparation of financial statements that are free from material misstatemenL whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the association's assets and prevent & detect fraud & other irregularities. DIRECTORS, INDEMNITY Appropriate Directors, and Officers, Liability Insurance cover is in place in respect of all the Association's directors. POLITICAL DONATIONS AND EXPENDITURE No political donations were made in the year ended 31 st March 2024 (2023 - £ nil) and there was no other expenditure on political activity in the year (2023 - £ nil). EMPLOYMENT Framework aspires to retain a diverse workforce with the skills and understanding to achieve ts goals by the provision of quality services responsive to a range of individual needs. At 31 st March 2024, 12.490/0 of the workforce was registered as disabled (2023- 13.45 /0). On the same date 21.35 % of the workforce was defined as Black, Asian, Minority Ethnic and Refugee (BAMER) {2023 - 17.650/0). When calculating these statistics the 10.880/0 of respondents who chose not to share this information are included in the denominator but excluded from the numerator categories reported above. Framework is committed to involving its employees in the planning and development of services through staff consultation, employee surveys, information-sharing and staff communication. The Staff Council, meeting six times a year, is a formal structure through which leaders consult with elected employees and trade union representatives to inform them of, and discuss, changes affecting the organisation and its employees. Direct consultation occurs wherever there are changes that fundamentally affect the work of staff. FINANCIAL INSTRUMENTS The Association does not enter into any hedging transactions. It does not have any abnormal exposure to price movements, changes in credit conditions, liquidity constraints or cash flow risks arising from its trading activities. AUDITOR Beever and Struthers Ltd. was re-appointed as Framework's extemal auditor during the year. STATEMENT AS TO DISCLOSURE OF INFORMATION TO THE AUDITOR The directors have taken all necessary steps to make the auditor aware of any relevant audit information and to establish that they are aware of that information. As far as the directors are aware, there is no relevant audit information of which the Association's auditor is unaware. Approved by the Board on 18th July 2024 and signed on its behalf by: Ruth Hawkins (Chalr of the Board) Page 29

FRAMEWORK HOUSING ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FRAMEWORK HOUSING ASSOCIATION Independent Auditor's Report to Framework Housing Association Opinlon We have audited the financial statements of Framework Housing Association (the 'Company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Reserves, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies in note 1. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the Company's affairs as at 31 March 2024 and of its income and expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2022. Basls for oplnion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial statements, we have concluded that the Board's use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the Company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Board with respect to going concern are described in the relevant sections of this report. Page 30

FRAMEWORK HOUSING ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FRAMEWORK HOUSING ASSOCIATION (continued) Other Information The other infonnation comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The Board is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other infonnation and, except to the extent othenmise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infonnation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstaternent of this other inforrnation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the strategic report and the directors, report for the financial year for which the financial statements are prepared is consistent with the financial statements; and the strategic report and the directors, report have been prepared in acGordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors. report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of directors, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. In addition, we have nothing to report in respect of the following matter where the Housing and Regeneration Act 2008 requires us to report to you if, in our opinion: a satisfactory system of control over transactions has not been maintained. Responsibilities of directors As explained more fully in the Statement of Directors, Responsibilities set out on pages 30 and 31, the Board is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Board determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Page31

FRAMEWORK HOUSING ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FRAMEWORK HOUSING ASSOCIATION (continued) In preparing the financial statements, the Board is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the Board either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Auditor's responslbllities for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's web-site at www.frc.or .uklauditorsres onsibilities. This description forms part of our auditorfs report. Extent to which the audlt was consldered capable of detecting Irregularities, Including fraud We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and addressing risks of material misstatement in respect of irregularities. including fraud and non-compliance with laws and regulations, our procedures included the following: We obtained an understanding of laws and regulations that affect the Company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the Companies Act 2006, the Statement of Recommended Practice for registered housing providers: Housing SORP 2018, the Housing and Regeneratlon Act 2008, the Accounting Direction for Private Registered Providers of Social Housing 2022, tax legislation, health and safety legislation, and employment legislation. We enquired of the Board and reviewed correspondence and Board meeting minutes for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the Board have in place, where necessary. to ensure compliance. We gained an understanding of the controls that the Board have in place to prevent and detect fraud. We enquired of the Board about any incidences of fraud that had taken Pla￿ during the accounting period. The risk of fraud and non-compliance with laws and regulations was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: laws related to the construction and provision of social housing recognising the regulated nature of the Company's activities. We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above. We enquired of the Board about actual and potential litigation and claims. Page 32

FRAMEWORK HOUSING ASSOCIATION EPENDENT AUDITOR'S REP ASSOCIATION (conti uod) We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud. In addressing the risk of fraud due to managemenl override of internal controls we tested the appropriateness of joumal entries and assessed whether the judgements made in rnaking accounting estimates were indicative of a potential bias. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For eyample. as with any audit, there remained a higher risk of non-detection of irregularities. as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-cornpliance witli laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. THE MEMBE ORK Use of our report This report is made solely to the Company's members, as a body, in accordan￿ with Chapter 3 of Part 16 of the Cornpanies Act 2006. Our audit work has been undertaken so that we might state to the Company's members tliose matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work. for this report, or for the opinions we have fonTred. Richard Graham (Senior Statutory Auditor) For and on behalf of Beever and Struthers statutory Auditor One Ey,press l George Leigh Street Manchester M4 5DL Date: Page 33

FRAMEWORK HOUSThTG ASSOCIATION STAT]C4 MENT HENS]tVE ED 31st frf￿A 2q124 Note 2QP23124 2022123 £000 £1￿0 Raytated Turnover 57,264 (iS,516) 54,526 Operating eipendithKre OperatllJ]g surplus Surplus on disposal of propety Finance income (JJ,) jl, 1,748 972 182 50 Interest and financing costs (61)) Sllrplus for the year 1.317 562 Acluarial gain in respect of pension schemes 16 1,973 Total comprehensive Bncome for the year 1,321 2,535 The results all relate to continuing activities. The accompanying notes fomi an integral part of the financial statements. Page 34

FRAMEWOBJC HOus￿G ASSOCIATION STATEll4gENT OF FINANC￿ P S AT 31st MARC 2qP24 Note 2023124 2022123 £O(DO £000 FIXED ASSETS Tangible assets: Property, Plant and Equipment Depreciation 11 11 96,818 92,589 79,877 77,333 cirRRENT ASSETS Debtors Cash and Investnents 12 3,700 6,020 9.720 2,380 8,652 11,032 13 CREDITORS: AMOUNTS FALLING li DUE WITHllY ONE YEAR 14 (7,)10) (5,636) NET CURRENT ASSETS 2AIO 5,396 TOTAL ASSETS LESS CURREIST LIABILITIES 82,087 82,729 CREDITORS: AMOUIYTS FALLING DUE AFTER MORE THAN ONE YICAR Defetred goverDment grants 15b Long Terni Loans 15a Defxned benefit pension liability 16 40,900 10.074 40,076 12,861 50,974 31,113 52,937 29,792 NET ASSETS CAPITAL AIYD RESE Called up Share Capital Designated Reserves 17 23 31.113 29,792 31,113 29,792 The financial statements on pages 35 to 57 were approved and authorised for issue by the Board and signed on its behalf on 18th July 2024 by Ruth Hawkins Chair Andrew Redfern Chief Executive gT,fyty- Suzanne Williamson Company Secr Pag8 35

FRAtkfEWORK HOUSJTrIG ASSOCIATION STATEMEFIT F CIIANGES SERVES ll¥COM EXPEtIlDITURE RESE Note £000 At 1st April 2023 Surplus for year Actuarial gain in respect of pension schemes eserves as at 31 arch 2024 29,792 1,317 16 evenue 31,113 £(M)O At 1st April 2022 Sutplus for year Actu￿]81 gain in respect of pension schemes Revenue Reserves as at 31st March 2023 27,257 562 16 1,973 29,792 The accompanying notes forni an integral part of these fmancial statements. Page 36

FRAMEWORK HOUSING ASSOCIATION STATEMEPIT OF CASH FL YEAR END 3llst IkffARCIK 2024 Note 2023124 2022123 £000 £000 C28h generated from operating aetivities Surplus for the year Adjustment for non cash items Depreciation of property, plant and equipn]ent nGreas¢)tDccrease ID Debtors Increase/(Decrease) in Credito Pension costs less contribution payable (Profit) on disposal of propety. plant and equipment Government grants utilised in the year Interest received Interest payable Amounts charged to financing costs Cash generated by operathig activities 1,317 562 1,686 (1,320) 1,968 128 1,667 1,047 12 L4 16 223 15b (619) (182) 613 (124) (ri02) (JO) 460 L6 3.467 1,935 Cash flows from Investing a¢tivities Purchase of propety, plant and equipment Proceeds from the sale of propety. plant and equipment Grants received Interest received li (4,229) (i,05?) 1,435 182 1,504 50 Net cash flows from investing activAties Cash flows from f￿ancIll8 activities Interest Paid New Loans Loan repayments Net eash flows from fmaneing acdvAiles (613) 1200 (4,074) J,487 (466) L.990 (£¥98) 1,026 Net(de¢rea$eyincrease In eash and esisb ¢quivalents (2,632) (537) Note 2023124 £000 2022123 £oo(J Cash ¢a$h equivalents at beginnlng of year N¢t (dcGrease)lincrease in cash and Cash equivalents Cash and eash equlvaleDts At end of year 13 8,652 (2 63?) 6,020 9,189 13 8,652 Page 37

FRAMEWORK HOus￿G ASSOCIATION NOTES T T]EIE FINANCIAL STATEMENTS FOR THE YE EI¥DE 31st MARCH 202 I ACCOUNTll¥G POLICIES The principal accounting policies are SUMn￿Sed below. They have all been applied consistently tI￿OUghoUt the year and to the preceding year. Gener llnformation and basis of accounting The fmancial statements have been prepared under the historicaI cost convention, and where applicable modified to include certain items at fair value, in accordance with Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council and comply with the Statement of Recommended Practice for registered social housing providers 2018 (SORP), the Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing 2022. Framework Housing Association is a public benefit entity, as defined in FRS 102 and applies the relevant paragraphs prefixed 'PBE' in FRS 102. (b) TnLrnover and Operadng Costs Turnover represents rent and service charges receivable (net of rent and service charge losses from voids) in respect of supporting people and community care contracts, revenue grants receivable, amounts receivable in respect of service level agreements and donations. Service clwge income is recognised when expenditure is incU￿¢d as this is considered to be the point at which the service has been perfonned and the revenue recognition criteria met. Operating costs incurred in the delivery of th¢se services comprise expenditure on services, management, bad debts, fllnd-raising, publicity and depreciation. (c) Propertyj plant and equipment - housing properties Housing properties are stated at cost less accumulated depreciation and accumulated impairnient losses. Cost includes the cost of acquiring land and buildings, directly attributable development costs and borrowing costs directly attributable to the constrnction of new housing propertÉes during the development. Capitalisation ceases when substantially all the activities that are necessary to get th¢ asset ready for use are complete. Expenditure on existing housing properties is capitalised when au identifiable component is replaced and this replacement cost is more than £5,000. Expenditure inCu￿ed on the acquisition of furniture and equipment will b¢ recorded in the Statement of financial position where the purchased cost per item is £5,000 or more, or, where the aggregate cost of items in a single capitsl project, is greater than £5,000. Depreciation is charged so as to write down the net book value of housing properties to their estimated residual vaLu¢, on a straight line basis, over their useful ¢¢onomic lives. Freehold land is not depreciated. A full ye￿S depreciation is charged on assets in the year of purchase, but no charge is made in the year of disposal. Page 38

FRA[￿￿Wo1UC HOUSING ASSOCIATION NOTE4 S T THE FINANCIAL STATEMENTS THE YEAR ENDE 31st CH 2024 I ACCOUNTING POLlaES (COP4TINUED) (c) Propertyg plant and equipm¢TrBt - housllng properties (continued) or com onents Major components of housing properties, which have significantly different patterns of consumptioll of economic benefits, are treated as separate assets alld depreciated over their expected useful economic lives at the followlng annual rates. Land Buildings- Superstructure Buildings-Roof Buildings-Heating Systems Buildings - Electrical systems Buildings - f4iXtures & Fitting,, Furniture alld Equipment rovements 5% Where there are improvements to housing properties that are expected to provide incremental future benefits. these are capitalised and added to the ca￿Ing amount of the propety. Any works to housing properties which do not rcplacc a component or result in an incremental future benefit are charged as expenditure in the Statement of Comprehensive Tllcome. Leaseholders Where the rights and obligations for improving a housing property reside with the leasebolder or tenant, any works to improve such properties inCu￿ed by the Association is recharged to the le&8eholder and recogllised in surplus or deficit in the Statement of Comprehensive Income along with the coxresponding income from the leaseholder or tenant. (d) Impairment of social housinEg properties Properties held for their social benefit are not held solely for the cash inflows they generate and are held for their service potential. An assessment is made at each reporting date as to whether an indicator of impairnient exists. If such an indicator exists, an impairnient assessment is canied out and an estimate of th¢ recoverable amount of the asset is made. Where the carrying amount of the asset exceeds its recoverable amount, an impairment loss is recognised in sU￿lUS or deficit in the Statement of Comprehensive ￿Corne. The recoverable amount of an asset is the bigher of its value in use and fair value less costs to sell. Wher¢ assets are held for their service potential, value in use is detern]ined by the present value of the asset's remaining service potential plus the net amount expected to be received from its disposal. Depreciated replacem¢nt cost is taken as a suitabl¢ measurement model. An impainnent loss is r¢versed if the r¢asons for the impainllent loss have ceased to apply and included in surplus or deficit in the Statement of Comprehensive Income. bnpainnent indicators used by the Association are: empty properties without an a￿eed plan to bring into use, pern]anent increase in voids. or reduction in rentsl income. Page 39

FRAMEWORK HOUSING ASSOCIATION NOTE4 S TO THE FINANCIAL STATEMENTS FOR THE Y ED 31st MARCH 21124 I ACCOUNTllYG POLICIES (CONIINUED) (e) SociaR ousing Grant and other Government Grants Where grants are received from government agencies such as Homes England, local authorities, devolved governn]ent agencies, health authorities and the European Commission which meet the definition of government grants they are recogmsed when there is reasonable assurance that the conditions attached to them will be complied with and that the grant will be received. Government grants are recognised using the accrual model and are classified either as a grant relating to revenue or a grant relating to assets. Grants relating to revenue are recognised in income on a systematic basis over the period in which related costs (for which the ￿allt is intended to compensate) ￿e recognised. Where a grant is receivable as compensatloll for expenses or losses already Incu￿ed or for the purpose of giving immediate financial support with no ￿tUre related costs, it is recognised as revenue in the period in whAch it becomes receivable. Grants relating lo assets are recognised in incorne on a systematic basis over the expected useful life of the asset. Grants receivcd for housing PTopertÉes are rccogllised in income over the expected useful life of the housing property structure. Where a grant is received Specifically for componellts of a housing property, the ￿allt is recognised in income over the expected useful life of the component. Grants received from non-government sources are recognised as revcnue using the perfornwice model. (fj Recycling of grants Where there is a requirement to cither repay or recycle a grant received for an asset that has been disposcd of, a provision is included in the Statement of Financial Position to recognise this obligation as a Iiability. When approval is received from the funding body to use tbe grant for a specific developmenL the amount previously recognised as a provision for the recycling of the grallt is r￿lassified as a creditor in the Statement of Financial Position. On disposal of an &8set for which government grant was received, if there is no obligation to rcpay the grant, any unamortised grant rcmailling within liabilities in the Statement of Financial Position related to this asset is derecognised as a liability and recognised as revenue in sU￿lUS or deficit in the Statement of Cornprehensive Jncome. (g) Leased assets At illception the Association assesses a￿ceMents that transfer the rigbt to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement. eratin leased assets Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to surplus or deficit in the Statement of Comprehensiv¢ Income on a straigbt-line basis over the period of the lease. Page 40

FRA[￿￿wOR[c HOUSllqG ASSOCIATION TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024 I ACCOUNTING POLICIES (coiifrINUED) (h) Interest payable Borrowing costs are interest and other costs incuJTed in connection with the borrowing of funds. Borrowing costs are calculated using the effective interest rate, which is the rate that exactly discoullts estimated cash payments or receipts thxough the expected life of a fmancial instriunent and is deterniined on the basis of the carrying amount of the financial liability at initial recognttion. Under the effective interest method, the amorttsed cost of a f￿anCIal liability is the present value of ftlture cash payments discounted at the effective interest rate and the interest expense in a period equals the carrying amount of the financial liability at the beginning of a period multiplied by the effective interest rate for the period. (i) T￿ation The Association is a registered charity and is exempt from any corporation tsx ￿abilItieS on its charitable activities. (i) Pensions Multi-em er defined benefit ension scheme- NHS The Association participates in a multi-etnployer def￿ed benefit pension scheme where the scheme assets and liabilities caDnot b¢ separately identified for each eniployer. This is accournted for as a def￿¢d contribution scheme as there is insufficAcnt inforn]ation available to account for the scheme as defined benefit. This defined benefit scheme is closed to new members and was set up to preserve pension arrangements for staff transfcrring in to the Association under TUPE LegisEation. Local Government Pension Scheme- Nottin amshire Local Government Pension Scheme The Associatioll participates in a Local Government Pension Scheme whicb is a multi- employer scheme where it is possible for individual ¢mployers as admitted bodies to idcntify their share of the &8sets and liabilities of the pension scheme. For this schemc the amounts harged to operating s￿￿luS are the costs arising from employce services rendered durxng the period and th¢ cost of plan introductions, benefit changes, settlements and curtailments. They are included as part of staff costs. The net interest cost on the net defined benefit liability is charged to revenue and included within fmancc costs. Remeasurernent comprising actuarial gains and losscs and the return ou scheme assets (excluding amounts included in net interest on th¢ net defmed benefit liability) are recognised in]mediately in other comprehenstve income. Defmed benefit schemes are funded, with the assets of the scheme held separately from those of the Association, in separats trustee adn]inistered fiLuds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit cr¢dit method. The actuarial valuations are obtained at least trienllially and are updated at eacb Statement of Financial Position date. This defmed benefit scheme is closed to new members and was set up to preserve pension arrangements for staff transfelling in to th¢ Association under TUPE legislation. Defined Contribution Schemc - Scottish Widows The Association participates in a defmed contribution scheme where the amount charged to surplus or deficit in the Statem¢nt of Comprehensive Income in respect of pension costs and other post-retiremcnt benefits is the contiibutions payable in the year. Differences between contributions payable in the year and contsibutions actually paid are shown as either accruals or prepayments in the Statement of Financial Position. This schem¢ is open to all staff members in accordance with Auto-EDrolment legislation. Page 41

FRAMEWORIC HOUS]NG ASSOCIATION TES TO THE FDTANCIAL STAItEMENTS R TEIE YE ENDED 31st IVblRCH 2(D24 I ACCOUNTING POLICIES (cONTIN￿D) (k) Supported housing and other managlng agents Where the Association has ownership of a supported housing or other scheme but also Iw an agreement with a third paty to manage the scheme (including SupportÉng People fijnded schemes or services), where there has been a substantial transfer of the risks and benefits attached to the scheme to the third paty, auy scheme revenue and expenditure is excluded from these fmancial statements. O) Flnancial Instruments Fir￿nCIal assets and financial liabilities are recognised when the Association becomes a paty party to the contractual provisions of the instrument. Financial assets canied at amortised cost Financial assets carried at amortised c05t comprise rent atrears, trade and other receivables and cash and cash equivalents. FinanciaI assets are initially recognised at fair value plus directly athibutable transaction costs. After initial recognition, they arc measured at amortised cost using the effectiv¢ interest method. Discounting is omitted where the effect of discounting is immatuial. If there is objective evidence that there is an impainnent loss. the amount of the loss is measured as the difference between the asset's carying amount and the present value of estimated ￿tUre cash flows discounted at tbe fmancial asset's original cffective interest rate. The Ca￿Ing amount of the asset is reduced accordingly. A financial asset is derecognised when the contractual rights to the cash flows expire, or when the financial asset and all substantial risks and reward are transferred. If an anangement constitutss a fmancing transaction. the financial asset is me&sured at the present value of thc future payments discounted at a market rate of interest for a similar debt InstrL￿llellt. Financial liabilities carried at amortised cost. The fllwcial liabllities iucludc trade and othcr payables and interest bearing loans and borrowings. Non-current debt instruments which meet the necessary conditions in FRS 102. are initially recogllised at fair value adjusted for any directly attiibutable transaction cost and subsequently measured at amortised cost using the effective interest method, with int¢r¢st-reIated charges rccognised as an expense in fillancc costs in the Statement of Comprehensive Illcome. Discounting is on)itted where the effect of discounting is immaterial. A fin￿cIal liability is derecognised only when the contractual obligation is extinguished, that is, when the obligation 15 discharged, callcelled or ¢xpires. CaslL and ¢ sh equlvalents Cash and cash equivalents comprise cash on hand and demand deposits, together with other short ternI￿1ghIY liquid investments that are readily convertible into Imown amoullts of cash and are subject to an insignificant risk of changes in value. For the putposes of the cash flow statement cash, the current account and the deposit accounts are considered to be liquid resources. Page 42

FRAMEWORK HOUSING ASSOCtATION TES TO THE FINANCIAL STATEMENTS THE YEAR Ef4DED 31st CH 2024 I ACCOUNTLYG POLICIES (C NTINUKD) (m) ad Debt ProvRsions The Association's bad debt policy is to provide for 100 % of debtors where there is strong evidence of non-collection, 25 % of rent and eligible service charges and 750/0 of ineligible service charges which are still outstanding after the deduction of cash received in the new financial year. (n) Holiday pay accrual A liability is recognised to the extent of any unused holiday pay entitlement which bas accrned at the balance sheet date and carried forward to future periods. This is me&8ured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date. (o)) Value Added Tax (VAT) The Association charges VAT on some of its income and is able to recover part of the VAT it incurs on expenditure. All amounts disclosed iu the accounts are inclusive of VAT to the extent that it is suffered by the Association and not recoverable. (p) DesRgnated Reserves With regard to paragrapb 18.7 of the SORP, our Reserves are presented in line with the Charity SORP paragraph 1.48 which is considered more appropriate to Framework as a registered chatity and to support our reliance on charitable donations. This treatment is considered appropriate to provide donors and potential donors with a more accurate presentation of Frameworks financial position. Page 43

FRAMEWORK HOUSING ASSOCIATION TEST RTHEYE FINANCIAL STATEm￿NTs ENDED 31st MARC 2024 2 SIG1￿ICAlyT I￿AGEmEr{T JUDGEIIAENTS AP4D KEY SOURCES OF EsT￿￿ATIoN t￿cERTA TY The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, incomc and expens¢s. The estin￿te6 and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and Iiabilities that are llot readily apparent from other SOUTces. Actual results may differ from these estimates. EstIn￿te8 and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recogDised in the period in which the estin]ate is revised and in any future periods affected. 'ficant mana The following are management judgements in applying the accounting policies of the Association that have the most significallt effect on the amounts recognised in the financial statements. ements Impairnient of social housing properties Mallagcment has to make au assessmcnt as to whcther an indicator of impairniellt exists. In malung the judgement, management considered the detailed criteria set out in the SORP. Non-recognition of Pension Asset The Nottillghamshire Pension Fund has a gross accounting surplus at the reporting date of £235K. In line with FRS 102 requirements the Association has recogllised an asset on the balance sheet to the extent that it is able to recover the surplus. either through rethiced contributions in the future, or through refunds from the plan. The pension asset has been capped at £NtL, as no reduced contributions or refi￿d$ are expected. Estimation ullccrtain The Association makes estimates and assumptions concerning the ￿tllre. The resulting accounting estimates will, by definitio￿ seldom ¢qual the r¢lated acthal results. The estiniates and assumptions that have a significant risk of causing a matcrial adjustment to the catTying amounts of assets and liabilities within the n¢xt financial year are addressed b¢low. Fair value m¢asurem¢nt Management uses valuation tschniques to detern]ine the fair value of assets, This involves developing estin]atcs and assumptions consistent with how market participants would price th¢ xllstrument. Managemellt basc the asswnptions on observablc dats as far as possible but this is not always available. In that case, management uses the best illforniatioll available. Estimated fair values may vary from the actual process that would be achievable in an arni's length transaction at the reporting date. Provisions Provision is made for dilapidations. This provision r¢quir¢s management's best estintste of the costs that will be incurred based on I¢￿SlatIVe and contractual Tequirements. In additio the timing of the cash flows and the discount rates used to establish net present value of the obligations require management's judgement. Defmed benefit pension scheme The association has obligations to pay pension benefits to certain employees. The cost of these benefits and the present value of the oblxgation depend on a number of factors, including. life expectancy, salary increases, asset valuations and the discount rate on corporate bonds. Management estimates these factors in deterniining the n¢t pension obligation in the balance sheet. The assumptions reflect historical experience and current trends. Page 44

FRALVtEWORK HOUSllqG ASSOCIATION N TEIST THE FINANCIAL STATEIWKNTS ENDE 31st MARC 2024 TURNOV ERATKNG COSTS AP4D OP TIING SURPLUS 2023124 2022123 Restated £000 £000 Rent and service charges receivable Community care contracts 21,064 1,416 22,480 18,703 1,435 20,138 Statutory revenue income (Note 4) Housing Related Support contracts Amortised government ￿allt Specific charitable income (Note 4) 16,002 12,879 619 1,918 53,898 689 2,677 57,264 14,050 12,423 602 3,525 50,738 1,067 2,721 54,526 Non specific charAtable giving INote 4) Other TOTAL TtjRN0￿R OPERATDIG COSTS Services Management Maintenance Development Fund raising Bad debts Depreciation 38,302 10,391 4,356 289 290 202 1,686 55,516 36,857 9,963 4,049 269 300 1,667 TOTAL O TING COSTS 53,554 OPERATING SURPLUS FO 1,748 972 Analysis 4)f Volds Voids from lettable properties Total VoRds £OO(D £000 2,451 2,451 2,793 2,793 Page 45

FRA1￿￿wORl( HOUSJNG ASSOCIATION T￿ST T]E￿ F]tN THE YEI AR EI¥DE CIAL STATEll4tENts 31st CH 2fjJ24 PARTICULARS OF TURNOVEIL oP￿TL¥c E OPERATING SURPLUS NDITURE AtqD 2(D23124 2023124 2(J23124 Operating Expenditure £000 Operating lusl(Deficit) £000 Turnover Sur £000 Social Housing Lettings ( Note 3b) Other Social Housing Activities Charges for support services Total Socfia ousing 27,886 26,794 1,092 12,694 40,580 12,658 39,452 36 1,128 Activities other than Social Housillg ToC'aI Non- Social Houslng 16,684 16,684 16,064 16,064 620 620 Total 57,264 55,516 1,748 PARTICULARS OF TURNOVEII OPERATJNG EXPENDITIURE AM) OPERATIf4G SIJRPLUS Restated 2022123 2022123 2022123 Operating xpendithre £O(DQD Operating SuryluslQ)efielt) £000 Turnover £000 Social Housing Lettingg ( Not¢ 3b) Other Social A¢tivities Charges for support services Total Socnal Houslng 26,406 25,677 729 11,927 38J33 LL,898 37,575 758 Activltfies other than Sociall HousEEBg Total Non- So¢ial Housllng 16,193 16,193 15,979 15,979 214 214 Total 54,526 53,554 Page 46

FRAMEWORtC HoUsll￿G ASSOCIATION NOTES T THE FINANCIAL STATEMENTS 31st CH 2024 3b PARTICULARS OF TURNOVER AL￿ OPERATING EXPEDIDllTURE FRO SOCIAL HOUSING LETTINGS Restated Social ousing Soclal Housing 2023124 2022123 £000 £000 Income HB eligible rent & service charges HB ineligible rent & service charges Amortised government grants Other grants Turnover from Social Housing LettiNgs 21,650 831 592 4.813 27,886 19,350 788 567 5,701 26,406 Operating Eipenditure Management Service Charge Costs Routine Maintenance Planned Maintenance Bad Debts Deprcciation of housing properties Depreciation of other tangible fixed assets Other costs 6,182 11,487 4,283 1,259 202 1,305 289 1,787 26,794 6,166 10,690 4,001 1,131 1,239 338 1.663 25,677 Operating ExpendRtsre on Social Housing LettiFJgs Operating Surplus 1,092 729 Void Losses 2,451 2,793 Page 46 (2)

FIIAMEWORK HOUSING ASSOCIATION TEST TIIE FINANCIAL STATEMENTS 31stMARC 2024 TS A[￿ DONATllOF4S RECEIV 2023124 2QD22123 £000 £(Joo STATUTORY SOURCES Leicester, Leicestershire & Rutlalld Councils (Edwin) DLUC - City of Lincoln Council DLUC- Nottingham City DLUC Sheffield Nottingham City CDP (MVH ) Nottingham City Council ( Rough Sleepers) Nottillgham City CDP (Clean Slate) Nottingham City CDP (NottingEkam Recovery Networlc) Nottingham City CDP (Edwin) Nottingham City CCG Mental Health & Wellbeing Nottingham City CDP (HALT) Nottingham City Council { Edwin) Sheffield City Council (Street outreach]SIl￿HIS) DLUC - Ashfield DC (SOT County) Homes England OISAP) Other Statutory Grants Total 415 491 1,811 34 532 653 3,048 33 551 519 6,837 286 606 100 295 1,000 5,390 411 236 273 380 488 3,211 16,002 215 416 430 1,269 14,050 SPECIFIC CHAR LE SOIURCES Big Lottery Fuud (Opp Nottm) Big Lottery (Opportunity & Change) SSBC (Family Mentor & Aspley Mentor) Big Lottery (Homeless to Home) BBO Linc - UC Move Other Specific Grants Total 429 1,498 1.362 73 34 129 101 1,447 370 1918 3,525 OTHER GRAD￿s A)L ￿ DONATIONS Grants and Donations 689 1067 TotaK 689 l(D67 Grand Total 18,609 Most statutory and clwitable grants are restricted to the delivery of specific services as deterniined by the funders. 18,642 Page 47

FIIAMEWORtC HOUSllYG ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS ENDED 31st IvtARCH 202 FINANCE INCOME 2qD23124 2022123 £000 £000 Bank interest receivable 182 50 182 50 INTEREST AN FINANCING C STS 2023124 £fjoo 2022123 £000 Banlc loans and overdrafts Costs associated with financing Net interest on defined benefit liability (Note 16) 694 466 45 692 511 Borrowing costs capitslised 613 460 SURPLUS FO THE YEAR 2023124 2022123 £000 £000 SurpEus for the year is stated after charging: Depreciation on housing properties Depreciation on other fixed assets External Auditor's Remuneration (excluding VAT) - Audit-related assurance services Operating lease charges on land and buildings Operating lease charges on other assets 1,383 302 1,329 338 31 29 2,009 214 1,929 321 TAXATI No taxation charge arises as the Association is an exempt charity and only undertalc¢s charitable activities. Page 48

FRAMEWORK IIOUSllVG ASSOCIATION TEST THE F]tNANCIAL STATEMENTS THE YE END]K 31st CH 2024 STAFF COSTS 2023124 £000 2022123 £000 Staff costs including directors: Wages and salaries Redundancy costs Social security costs Other pension costs Total 27,841 73 2,239 1,074 31,227 26,682 2,080 1,007 29,777 The Time Equivalent number of staff who received emoluments, includmg pension contribution, in excess of £60.000 are shown below. 2023124 2022123 Salary Band £000 60,000 - 69,999 70,000 - 79,999 80,000 - 89,999 90,000 - 99,999 100,000-109,000 Average number of fjjll time equivalent persons (FTE) employed: 2023124 2022123 Restated Supported Housing Tenancy Sustainment Fundraising and Communications Management and Administration (Central Office) Care Home Non Housing related service stsff Average number of FTE employees during the year 383 132 15 82 61 232 409 126 84 59 233 918 The basis of the calculation of full time ¢quivalents is the average of contracted employees at each year end. DIRECT RSI RElktUlYERATION AND TRANSACTI Key management persomiel remuneration 2023124 £(poo 2022123 £000 Directors who are executive staff members Wages and salaries Loss of Office payment SociaL security costs Other pension costs 511 59 24 55 23 Page 49

FRAMEWORtC HOUSllVG ASSOCIATION TEST THE FINANCIAL STATEMEI NTS THE YEAR N 31st MARC 2q)24 DIRECTO S, REFrftUNERATION TRANSACTIONS (Colllltinued) Board Members No remuneration was paid to board members in their rApacity as directors of the Association. Incidental travel expenses are claimed in order for the board to carry out theii duties. Travel expenses paid to board members to 3 1st March 202a were £306 (2023 £0) Remuneration of the highest paid director, excluding pellsion contributions or payments made in lieu of pension contributions. 2023124 £OO(D 2022123 £000 Emoluments 95 90 PROPERTY, PLANT AIYD EQullPll￿ENT Properties nn Properties in Plant and Management DeveRopment Equipment £000 £000 £00 Totall £000 COST At 1st April 2023 Additions during the year Capitalised Repairs Transferred on completion Disposals during the year TotaR at 31st March 2024 88,328 1,805 2,957 2,456 295 92,589 3,956 273 273 2,639 (2,639) 91944 2,123 2,751 96.818 DEPRECIATION At I st April 2023 Charg¢ for the year Disposals during the year Total at 31st March 2024 NET BOOK VALUE 13,030 1,383 2,226 302 15,256 1,685 14,413 2,528 16,941 At 1st April 2023 75,298 1,805 At 31st March 2024 77,531 2,123 Included in properties in management is Anvil House (forLllerly "Scotter House") which is subject to a 60 year lease at a n¢t book value of £1,613k. Expenditure on own properties 230 77,333 ,877 223 2023124 £000 2022123 £000 Capitalised development costs Repairs and Maint¢nance charged to operating expenditure Total expenditure on own properties 3,661 1,998 5,659 4,782 1,198 5,980 Page 50

FRAMEWORK HOUSING ASSOCIATION NOTES T THE FINANCIAL STATEMENTS THE YEAR ENDED 31st MARCH 2024 12 DEBTORS 2023124 £000 2022123 £000 AMOUNTS FALLING DlUE ￿lfr￿￿N ONE YEAR Rent, service, support and community care charges (Note below ) Less: Provision for bad debts Trlet ren¢ service and support charges Prepayments and accrued income Grants and loans receivable Other taxation and social security Debtors at 31st March * No disclosure has been made of the amount of the net pr&sent value adjustment where a repaytnent schedule is in place as the amount is considered to be minimal. 1,200 1,201 932 1,179 1,589 870 808 693 3,700 2,380 13 CAS AND INVESTMENTS 2023124 £000 156 5,864 2022123 C&8h Cash and cash equivalents Cash ]tnvestments at 31st March 120 8,532 8,652 6,020 14 ITORS 2023124 £000 2022123 £000 AMOUNYS FALLING DUE WITHIN ONE YEAR Accrnals and deferred income Trade creditors Other creditors Other taxation and social security Government grants (Note 15b) Principal Loan repayments (Note 15a) Credntors at 31st IWarch 3,849 2,378 97 153 601 432 7,510 2,922 1,496 91 608 519 5,636 Page 51

FPdlMEWORK HOUSDIG ASSOCIATION NOT]ES TO THE FINANCIAL STATE NTS ENDE 31 t 1￿CH 202 cR￿D￿￿OR8 . AMOUNTS FALLING DUE AF MOR 2023124 2022123 £(Joo £000 Long Terni Loans DefetTed Government Grants 10,074 40,900 50,974 The loans are secured on freehold housing properties with a carrying value of £24,517k. These freehold properties provide a total of 339 units of accommodation. Interest is payable at variable rates between 2.86% - 7.25 % The total accumulated amount of capital grants received at the balance sheet date is £49,391,000 12,861 40,076 52,937 1Sa Loan analysis 2023124 2022123 £000 £000 Loans repayable by instalments Within one year or less More than one year but not more than two years More than two years but not more than five years More than five years 432 479 1,668 7,927 10,506 519 583 1,951 10,327 13,380 15b Deferred governEnent grallt 2023124 2022123 £000 £000 Deferred capital grant as at I st A￿11 Grants received in the year Grant repayments during the year Amortised to Statsment of Comprehensive Income Deferred capRtal grant as at 31 Marclll 40,684 1,435 39,782 1,504 [61Q} 41,5 40,684 Amount to be released within one year 600 608 knount to be released after one year 40,900 40,076 Page 52

FRA[￿WORK HOUSING ASSOCJATION NOTES TO THE ]FDTANCIAL STATEMENTS THE YE 31st CH 2024 PENSION O LllGATior4s Defllned contributAO]Tr pensiola scheme The Association operates a defmed contribution pension scheme. The assets of the scheme are held separately from those of the Association in an independently administered fund. I he total expense charged to Siatement of Comprehensive Illcome in the year to 3 1st March 2024 was £98 Ik (2023 £9281c) Defllned enefit ScheAne - IWS Scheme The NHS pension scheme is an unfunded, defined benefit scbeme that covers IqHS employers, GP practices and other bodies, allowed under the diIection of the Secretary of State, in England and Wales. The cost to the Association participating in the scheme is taken as equal to the contributions payable to the scheme for the accounting period. The total exp¢nse charged to Statement of Comprehensive Income in the year to 31 st March 2024 was £181c (2023 £18k) Local Government Pensloin Scheme - IYotÉinghamshire Pensi(DD Sclllleme Local GovernnlleDt Penslon Scheme The LGPS is a fvnded defined-benefit scheme, with the assets held in separate funds admilllstered by Nottinghamshire Local Authority. The totaL contributions made for th¢ y¢ar cnded 3 1st March 2024 were £1021c (2023 £87k), of which employer's contributions totalled £75lc {2023 £62k) and employees contributions totalled £271( (2023 £25k). The agreed contribution rates for future years are 19.0 % (2023 19.0 % ) for employ¢rs and range from 5.5 /0 to 6.80/0 for employees, depending on salary. The following inforniation is based upon a ￿11 actuarial valuation of the fund at 31 st March 2023 by a qualificd independent actuary. At 31st arch 2024 t 31st March 2023 Rate of increase in salaries Rate of incr¢ase for pension in payment/iDfiation Discount rate for scheme liabiliti¢s Inflation assumption (CPD It bas been assum¢d that members will exchange half their con]mutablc pension for cash at retirement. 2.90 % 2.90% 4.80 % 2.900/0 Page 53

FRAtVIEWORIC HOUS]NG ASSOCIATION NOTES T T]hllE YE FINANC]tAL STATEIVIENTS 31st MARCH 2(D2 s]tON OBLIGATIONS (continued) The current mortality assumptions include sufficient allowance for fiiture improvements in mortality rates. The assumed life expectations on retirement age 65 are: At 315t March 2024 At 31st March 2023 Retiring today Males Females Retiring in 20 years Mal¢s Females The estin]ated asset allocation for the Association as at 31 March 2023 is a follows: At 31st March 2024 59% 3/. Years 20.8 23.6 Years 20.7 23.5 22.1 25.1 22.0 25.0 At 31st March 2023 Equities Gilts Other Bonds Property Cash Infiation-linked pooled fund Infrastrncture Private Equities Tot 8./ Analysis of the amotllnt chlirgeqll to operating costs in the StateEnent of CoK￿￿rehe1Q5Ive lllllCOllRe. At 31st March 2024 At 31st M&rcln 2023 £000 Employer service cost (net of employee contsibutions) Total operating charge Analysis of pension tlnallee incomel{eo)sts) Expected return on pension scheme assets Interest on pension liabilities Amounts (credited)Ic arged to financing costs Amount of gains aRDd losses recognTised in tllle Statement of Comprehensive Income Actuarial gains on pension scheme assets. Actuarial gains/(losses) on scheme liabilities Adjustsnent for galns not recognised Actuarial (loss)/gain recognised (i) (IrJ71 (1?4) 122 (?) (70) 115 66 163 2,062 (79) (In) 1,973 Page 54

FRALWEWORK HouSll￿G ASSOCIATION )TOTES TO TH￿ F ]FOR YEA END CIAL SlfATEMENTS 31st IItARCH 2024 PENSION OBLIGATIONS (continued) The amount included in the Statement of Financial Position ￿lsillg from the Association's obligations in respect of its defmed benefit retirement benefit scheme is as follows: At31st March 2Q24 AÉ 31st March 2&23 Movement in 8urplus/(deficit) during year (Deficit) in scheme at l April Employer service cost Employer contributions Return on assets Remeasurernents £000 £000 75 12 62 2,147 Surplusl(J)eficit) In scheme at 31 March The Nottinghan]shirc Pensioll Fund has a gross accounting surplus at the rq)orting date of £235K. Tn line with FRS 102 requirements th¢ Association has recogryised an asset on the balance sheet to the extent that it is able to recovw the su￿lUs, either through reduced contributions in the ￿ture, OT through refunds from the plan. The pension asset has been capped at £N]L, as no reduced contiibutions or rcfunds are expe¢ted. Asset and Llability Reconciliation At 3Lst March 2024 At 31st March 2023 £oo(D £000 4,452 169 115 (L,988) (26'?} 138 Opening defmed benefit obligation Service Cost Lnterest Cost Change in financial assumptiotts Change in demographic assumptions Expericncc (gain)Iloss on defined bell¢fit obligation Estintstcd benefits paid net of transfers in Past sexvxce costs, including curtailments Contributions by Scheme participants and other employers Closlng deflned benefit obligation 2,604 80 122 (79) 13 (lj?) 27 25 2,615 2,604 Assets at start of perioql Interest on assets Return on assets less interest Other actuarial (losses) Administration Expenses Contributions by employer including unfimded Contributions by Schemc participants and other employers Estimated benefits paid net of transfers in Settlement prices received/(paid) Assets at end of period Actual return on plan scheme assets 2,614 124 163 2,632 70 (-19) 75 27 (.1)2) 25 2,850 287 2,614 (59) Page 55

FRAMEWORICHOUSING ASSOCIATION NOTES TO THE ]FL¥ANCIAL STATEMEprrs FOR THE YEI AR ED]DED 31st MARCH 2024 A7 CALLED UP SHARE CAPITAL The Association is a compally litDited by guaTrDte¢ Ind dD¢S Eol therefo￿kaVe auy5b¥re capitaL 18 RELATED PARTY TRANSACTIONS There are Do relatedpgtytJan$8¢tion5 to diBclose. AJLprocurementDegotiatioDs forgoods and SE￿1¢$ arc canied out onoonnai cotDmerc5al tenn3. CAprrAL COMMrrMEfATS 2023124 £000 2822123 £000 Capitsj expenditure CODtrdCted f¢r at 31st March but notprovided forin the finattcial statements L&%s follding AUo¢&tions Interllal fijnditig ¢OmTDkttnent 4J88 1,876 649 ￿148 20 OTHER FJNANCIAL COMt¥llThlENTS Totol ￿tr]rE millillLum leas¢ payments widernon4anG¢ll&bl¢ op¢taling l¢as¢s are 85 followj: 2023124 Land 8nd BulldJDgs £fjoo 2022123 2023124 Other Buildimgs £000 £000 2Q22123 Other £000 ope￿I]ng Ic8se5 which expir•: Within one year Witkn"o ttvo to five yws Afi¢rfiv¢years 2,009 1,308 558 214 55 55 1,929 1.023 46 321 55 55 324 2J98 431 21 ousnYG STOCK 21123n4 2022123 So¢lal Hou4thg So¢ial r¢u¢ supportedhousinE AffordabEc rent supportedhousitig Carc H¢)mes Social housitig units managedbutnot ovmed TOTAL o. L,037 123 63 86 1,037 l23 63 86 1309 ￿09 RECONCILIATION OF MOVEMEDIT OF IJFIITS IN MANAGEMETrrr 2023124 2022123 No. Openlng Umlts IL Mgnggement N¢wlybvilttcntsl aceosnmodaiion Untts purchasolbythe forrtut All other gaitis from outside existing so¢id housing stock 5 of sociaihousiug due to eod ofkwse All oth¢r Losses to exislin8 hous1￿ jtock fjain orm￿aged uoits Lu$s ofm8nagEd UDits Closlttg u￿ats In Mattag¢ment 1,224 37 17 39 (iz) (2,41 15 37 I.IT) (0 XJQg ￿09 LfGISIATIVE PROVISIONS Th¢ Asso¢i8¢ion Is Inco￿0[atEd￿llder thecon￿an1￿ Art 2006 and is aRegistued So¢ial Landlord. 23 DESIGNATXD BE￿RvEs 2023n4 2022n3 Resuv¢8 {Liquid- Minirnum Cash) R¢SerV￿ {Liqvid- Allocated to D¢velopnMtProyaJDm¢) Re9erves (Non- Liquid-Property) 4,500 1,345 25,268 4.500 896 24.396 29.7Y2 Rusm zr¢r¢tsin¢d at l¢vrt5 that allow th¢0380¢iatiotsto mtinue to providethe 5¢rvirrs that theze5erns ar¢ illte¢thd to support wkn.le m8oagin8 theri8ks a￿0clated with IwEg ternl expruditur¢ plam. The ajmual budget •Ld the 30 year tong tetm finaA¢ial pkn align Mource5 to support tbis approach Èod the levels ofr¢s¢rves are monitored throughout the yearbythe Board Mombus. Keserv¢s wert held at £4.5M iti the tash flow reserve at the 31st mar￿2024 and £26,612k in dEsig0at￿ Teserv¢s. £25267k of tb¢ de8i8U3tedweryeg can ontyber¢alisedby disposing of t8ngtbk r￿ed 8as¢ts. 24 PRIOR PERIOD ADJUSTMENr Dwing the y¢4r. llwka8em¢ttt identified int¢mot r￿￿8¢8 th4twer¢ incoryeGtlyall0¢4tsdwitbin fncome and Expenditure inthcptior year figure5. An adjustment has been made to Keduce income and ￿Pendi¢￿¢ by £1.277k The n¢t impact of thue tt8nsth is £0. There was Tho iD¥act OD OPeniDg Ie5￿. Page 56