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: (0115) 8417711 E-mail: info@frameworkha.org
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