2023-03-31-accounts

Registered no: IP169 Radius Housing Association Limited Annual Statement of Accounts for the year ended 31 March 2023

Radius Housing Association Limited Annual Statement of Accounts for the year ended 31 March 2023 Content5 Pages Board of Management and advisers Strategic report of the Board of Management 3- 13 Report of the Board of Managernent 14- 15 Independent Auditors, report to the members of Radius Housing Association Limited 16-18 Consolidated statement of comprehensive income 19 Consolidated statement of changes in reserves 19 Association statement of comprehensive income 20 Association statement of changes in reserves 20 Consolidated statement of financial position 21 Associatkon statement of financial position 22 Consolidated statement of cash flows 23 Not¢s to th¢ financial stat¢menls 24~49

Radius Housing Association Limited Board of Management and advisers Board of Management Mr M Pitt FCA. MACC, BS¢ Hons [Chair] Mrs L Campbell MBE BA (Hons), DIPL, PGIDg [Vice Chair] Mr C Diamond Bsc (Hons} Mr C Doh¢ty Bsc {Hons), MSC, MRICS Mr S Dolan Bsc {Hons), PhD. IPFA (rtd) Nlr R Dunne FIB BA (Hons) MA MSSC MBA Mrs M English LLB, CPLS Dr S Harp¢r MB. Bch, BAO, DRCOG, DCH, MRCGP, MPA Mr P McGuinness FCCA. CTA [Treasurerl Mr D Quinn MEnts MIOD Mr N Quinn FCA Bsc Msc Ms M Smith [Tenant Board Representative] Mr J Taggart MIUCS RICS MTS H Walker BS¢, DIPL, Msc, PGDIP (Resigned 28 June 202?) (Resigned 8 November 2022) (Resigned 28 June 2022) (Appointed 28 Jun¢ 202?) Independent Members of Radius Homes Limited Mr D Neill MIUCS, DIPL PM (RCIS) rtd Independent Members of Tealstone Developments Limited Mrs M English LLB. CPLS (Appointed 28 June 2022) Mr l Lees FCA Mr D Neill MRICS. DIPL PM (RCIS) rtd Chief Executive and Company Secretary Mr J McLean OBE B.Eng. MSC Dipm MBA CEntr, MIEI Registered office 3 - 7 Redburn Square Holywood County Down BT18 9HZ BAnkers Danske Bank LÈmited Donegall Square West B¢lfast BTI 6JS Solicitors Wilson Ne5bitt 33 Harnilton Road Bangor BT20 4LF Independent Auditors Grant Thomton (NI) LLP Chartered Accountants and Statutory Auditor5 12 - 15 Don¢gall Square West Belfast BTI 6JH Registered under the Co-operative and Community Benefit Societies Act (Northern Ir¢land) 1969 - No IP169 Registered under the Housing (Nl) Order 1992 - No Rl Registered under the Charities Act (NI) 2008- No NIC I02575 Registered with the Fair Employment Comjnission No 499

Radius Hollsing Association Limited Strategic report of the Board of Management for the year ended 31 March 2023 Governance The Board of Management present their strategic report and the audited fthanclal statements for the year ended 31 March 2023 of Radius H4Jusints Association Limited (the "Association") and its subsidiaries Radius Homes Limited and Tealstone Developments Limited (the "Group"). Corporate Plan 2022123 to 2026127 Radius launched ils latest Corporate Plan in 2022123 following extensive engagement with customers and key stakeholders. We reviewed our operating environment together with business risks and opportunities, realignÉng our strategy and prioritie5 for now and into the ￿ture. The need to be resiltent, agile and creative has seldom been greater as housing as50ciaiions are evolving beyond their traditional landlord roles to support tenaTrts and communities and enable both to thrive. We developed 'golden threads, running through our plans. ronnecting aspirations and outcomes to key inputs such as staff and stock developmenL asset and systems investment and tenant ¢ngagem¢nt, ose.- Radius's ose is To iry>rove lives and comm#rn"lies thriNgh ¢wr homes, care andts Vtsion.- Our vision is . Values." Our vaEues lace our customers at the Gentre of ow or anisation-. Every day our staff. Board and partners aim ¢0 improv¢ ￿0p1¢'S lives through. hard. creativi & collaboration. We are 3olutions fo¢yssed* operA.& transporenL acting ethi¢aUy, ¢onsistently & WRth erenoe dai Positivel en We kad ITh the creation ofcarefully considered aDdTobustsolutionswhich will staudthe test of tiD]e. In parth¢rship we are stronger together, taking joint olvnership & responsibility and in succes8.. sustainable ess ether as Objects.. Radius was fornled for the benefit of the community. Its objectives 2re to carry on for the benefit of the communtty: The business of providing housing, accommodation, assistance to help house people and associated facilities and amenities for the preventions or relief of poverty or for thos¢ in need by reason of youth, ag¢. ill health, digability, financial hardship or other disadvantage. Any other charitsble object that can be carried out by an Industrial and Provident Society, and Northern Ireland charity registered as a Housing AssQClation by the Departtnent. Enablers.. We meet our objects by: Developing new social and affordabl¢ housing in response to housing need. Managing social housing stock throughout Northern Ireland. Providing care and housing support for vultlerable people across a wide range of complex needs. Partnering statutory, voluntary and community organisations to sustain tenancies in the face of rising incidents of dementia. learning disabilitt¢s. homelessness, alcohol and substance abuse and other complex needs. Engaging with our tenants, T¢sidents and customers in the provision of OUT services. Providing security and support to people in thetr homes thmugh assistive technology under our Connect24 services, floating support, our home adaptations (Staying Put) and Daycare Services and Engaging in non-charitable business activities which help fund and further our obj¢¢tives.

Radius Housing Association Limited Strategic report of the Board of Management for the year ended 31 March 2023 (continued) Golden Threads." Through our cowrate plan we identified 4 strategic priorities or 'golden threads, r¢lating to our cuslomei, homes. our staff and an assured Radius business: Providing the best possible services wilh ourparlnersfor the benefil ofour customers Build andmaintain safe & sustainable ho￿￿ within ihrwik7g ¢ommunliies Where our customers experience the best possible services whether it is from a Radius employee or one of our valued delive Building and mainramiDg all our homes to the safest aftd gT¢¢ll¢5t viable standards set within well- lanned & welcomin communiti¢S. Our people through our values, empowered by agile and flexible woikAng, enabled by the latest technology. stronser through training and partnership working. helping and supporting more eo Upholding good governance and trusL anticipating risks as we remain flnancially soulld while all the time looking for and adopting new and better methods. Customer Flrst Great Plaees Greal agileplacesfor ottr sfaffto develop. innovate and ¢ollaborate Empowered People Being compliont, resilienl, vigilant and innovalive A55ured Business Covernance RadEus Board of Managemenl." Th¢ responsibility for the general policy, management and operation of Radius rests with a voluntary and unremunerated committe¢ known as the Board. Day to day managetnent is delegated to the Chief Executive and six directors. Groiip Siruclure.. Radius Housing Association Limited provides housing, care and support to communities in N. Ireland and is the controlling metnber of the Group. Radius Homes Limited provides property development services to assist the Association in delivertng its social housing development prOgra￿me. Tealstone Developments Limited provides investment opportunities outside of the objects of the Association which are expected to deliver a Profitable retum on investtnenl to be reiEnbursed to the Association. Refer to note 18 for details of Radius Housing Association Limited investm¢nts in subsidiary undertakings. Stalus.. Radius Housing Association Limit¢d is regystered under the Co-operative and Community Benefit Soci¢fies Act (Northern Ireland) 1969 (No. IP 169) and is a Registered Housing Association. The Association is a registered ¢harity under the Chariti¢s Act (NI) 2008 (Charity No. NIC102575).

Radius Housing Associat]Eon Limited Strategic report of the Board of Management for the year ended 31 March 2023 (continued) Business Overview for 2022123 As we progressed beyond the pandemic so our services returned to nonnal in almost all settings. The exception has been in housing- with-care schemes where a number of Covid safety procedures are still in place to protect Dur most vulnerable residents. This is pendittg a review by the N. IieLand Public Health Authority. We have embraced hybrid and flexible working and have embedded policies, procedures and systems which ar¢ not only supporting better customer services but enabling staff to achieve a healthier work life balance. As with other regions of the UK and the wider economy, we have experienced challenges in recruiting skilled and experienced staff. Cost of living pressuies and ristng wage demands have created fiffther pressures for our business. Meanwhile, our tenants are having to cope with a widening gap between household income and the day-to-day Cost of food, fuel and energy. Tend¢r5 for our contracting, maintenance and design activities have consistently returned price increases, some a5 high as 40ty/0, reflecting supply chain trends elsewhere in the UK. In these challenging times we have worked closely to support our contracting partners maintaining service levels and progressing buiEdillg sites. Radius has in place a broad ranoe of tenancy sustainability interventions helping out most vulnerable tenants. We have extended our service charge convergence plans and discounted the ￿11 heating charge for sheltered tenants. These measures have helped to shield our tenants from the full extent of the harsh economic headwind at this time. We remain committed to inv¢sting in our existing stock and providing the best possible customer services for our tenants and residents. W¢ are buildin(v more sustalnable hom¢s within shared and inclusive communities. Our Development Team showed great tenacity and creativity as we progressed several compl¢x new-build projects through planning, tendering and th¢ requisite departmenlaj approvals. This while delivering a healthy programme of completed new homes. The team also managed to progress several signature projects in readiness for the 2023P4 development programme. It remains to be seen how gov¢rnm¢nt budget cuts in the incomino year may impact on the overall social houstng cap&tal programme and those services which depend on revenue funding. In this our frst year of our latest corporate planning cycle, we set about developing our new corporate plan for the next five years, 2022123 to 2026127. We engaged with tenants, stsff, business partners and other key stakeholders to ensure we were focusing on th¢ key priorities in the face of the evolving and increasingly challenging business envtronmenl. We are confident ihat with the creativity and resilience of our people and our planned investments we will continue to improve lives and cominunities through our homes, care and 5UPPOrt. Radius Business in detail Developmeni & Property Services During the year we commenced on site 430 new sustainable homes. This whlle completing a further 189 new social rented homes on sites across Northern Ireland for handover to tenants. We also advanced a number of signature projects which will be capable of delivering 3400 potential new-start homes in 2023124. The actual outturn will be dependent on available capital funding from the government following its budget deterniination in May 2023. Meanwhil¢. our r￿t PTivate development project via our private subsidiary, Tealstone Developments, pro8res5ed to the point of submission for planning. At year end, Radius had over 700 new homes under ¢on5truction on site5 across North¢m Ir¢land. The progress and performance of some builders and contractors has unfortunately been impacted by labour shortages. delivery delays and risÉng prices. In some cases completion of new hornes have been delayed by as much as 12 months. Whilst in other cases some frarnewoTk contractors have decided to exit their a￿angements with us. We remain committed to working with all our partn¢rs on practical and reasonable solution5 which rÉOt only support them in these challenging limes but which protect th¢ interests of QUT customers and our business. Housing a￿d Coniniunity Jnveslment The Radius Communities team continues 10 focus on achievxng elevated levels of perfomiance in housing management. We seek to enable our tenattts to sustain their tenancies while maximising rental income and occupancy levels across our 13,500 homes. With demand at record levels we seek to ttTharound properties as efficiently as possible. Our arrears and voids perforniance outtum for general needs and sheltered housing at 4.4 % and 3.70/0 respectively, down from 7.60/0 and up from 2.80/0 in 2022. We have deliberately grouped batches of void properties for dampness remediation and decantino purposes in 2023124. For supported housitig. voi(ts rose to 4.50/0 from 4.1 /0 due to continued restrictions following the pandemic. Supported housing arrears rose to 6D/o in the sam¢ period. Our anti-social behavioral resolution rate was within targeL while 90 % of complaint responses were completed within 20 days, up fro 86Q/¥J in 2021122. Meanwhile the time to relet properties stood at 33 days. outside of our 25 day target and we are working hard with contractors to bring this back into line.

Radius Housing Association Limited Strategic report of the Board of Management for the year ended 31 March 2023 (continued) Enhanced Cu3toiner Insight At Radius we ar¢ ke¢n to know what matters to our customers. Our tenant engagement progrdmrne is shapLng and enhancing core s¢rvic¢s with s¢rvic¢ us¢rs helping to design and 5￿CIfy targets for contractors. In 2021122 we became the first local housing association to submit to the Supporting Communities Tenant Participation Accreditation for whÈch we received a silver award. Our most recent Tenant Survey provided valued feedback on our homes, staff and services, including.. 850/0 felt Radius treats its customers fairly. 850/0 Stated that th¢y trusted Radius Housino AssociatFon. 900/0 believe Radius has friendly and approachable staff. 840/D f¢lt theiT rent repr¢sentd valu¢ for money and Of the 650/0 who received a repair, 770/0 were satisfied with the service. And our most recent Societal Index Survey which infonns future strategies and investments for general needs tenants confirnied: 39/0 only have enough money for essentials, 28 /0 run out of money before the month-end. 5307ty rate health and well-being sUPPOrt as a priority followed by 42 % for advice on benefits entitlement. 23Q/o do not have an email address while 460h are confident in using digital servirEs. 864J/o would like to see more sustainable ho￿¢5 but only 430/0 would pay higher reni to live in one and 5 EO/o do not use public transport while 46/0 of households have at least one car. Tenants are represented on our Board, in our Communities Committee. on our Tenant Executive and through scrutiny panels and focus oups. They inforni new procurements, contractor management procedures and sit on recruitment panels for board and management appoÈntment8. 2023124 promises to be busy for tenants as we recruit a new Tenant Executive and introduce additional service-user focus groups. Community Investnient & Shared Fulures Our community investment teams work closely with busine35 and co[n￿U￿1ty group5 SUPPOrting tenants through a variety of interventions. Our community investment highlights durin(r 2022123 were: Our Benefits Officers identified around £ I m of additional income entitlement for tenants. We launched Radius's Tenant Engagement Strategy and Action Plan. Our 3 Service Improvement Groups reviewed.. Complaints. ASB and MTC Contracts for heating and repaiTS. giving rise to 14 strategic outcomes and benefits. We facilitated 260 community events, programm¢s and proje¢ts across Northern IrelaniL working with I l O statutory and community parther oFgani5ations, with 10.000 registered attendances. We launched our Digital Inclusion Strategy and Guidebook. 180 delegates attended our Radius Tenant Conference in October 2022. Our Northwest Hub was fornially re-opened in August 2022 with a community inforniation aud fun day after a two year closure due to covid. Over 100 people attended the event, and the Hub has seen an in￿eaSin￿ number of users month on month. Our £20,000 Cornmunity Chest Fund enabled 30 groups to deliver projects within Radius Communities. We loaned out 40 tablet computers on awareness sessions and to help tenants attend virtual focus group rneetings. 16 of our tellants and staff took part in digital champion training with the Barclays Digital Eagles progratnm¢, We partnered Ability N¢t, so our tenants could r¢c¢ive I: E ditigal training. We established our Sustainability Group with staff, tenants and Joint Management Partners. We held our Verbal Wellbeing Programme: A 12 week storytelling programme to promote inclusion and address lon¢liness and anxiety out in 18 independent living schemes. with 131 participants and 130 storytelling sessions. We had 50 Estate Walkabouts with staff meeting tenants and community representatives on local issues. Our Community Investment Team, working in tandem with t¢nant5, community groups, government agencies and a whole host stakeholders, are h¢lping to build resiEient, respect￿1 aDd engaged n¢ighbourhoods. We hav¢ exciting plans for 2023124 for a R&diu5 Foundation, to help ext¢nd the reach of our programmes ¢v¢n ￿rther.

Radius Housing Association Limited Strategic report of the Board of Management for the year ended 31 March 2023 (continued) We are committed to enhancing respect. cultural awareness and resilience within our communities with our staff and eomrnunity partners enga(red in a diverse range of activities part-funded by the oovernment's Tooether Building United Communities Fund. In 2022123 we had many highlights under Ihe themes of: Benmty Our BusliiÉss.. 32 participants aehieved 70 professional beauty accreditations with 20 receiving OCN level 3,5. A fijrther 12 completed DrkviE)g Theory COUTses. Our tenants were supported by GEMS Nl, the East Belfast Mission, Utopia Learning and Capital Hair & Beauty. Do Somelhing Heallliy (DSH).. 72 participants achieved 120 OCN ac¢r¢ditations. They were aided by Partnership wilh Boys & Girls Club Nl, which supported our tenants in 5 Shared Housing Areas across N. Ireland. Soeeer Academy Slreel Soccer.. 134 participants with 43 achieving IFA Level I Coaching Awards; 46 achieving OCN accreditation5 in Disability Awareness in Youth Work. and 30 achieving Introduction Certificate for Refereeing. Schools Biodiversity Projecl.. 23 schools participared, providing 607 pupils from across N. Ireland in our partnership with Keep Northern Ireland Beautiful. This through the unkversal language of biodiversity while promoting Good Relations and inclusivity ill and between schools. RESPECT Progromme.. We worked with 16 schools, providing 480 pupils with education on the consequences of crime and anti-social behaviour whilst protnoting health and safety, well-being and good relations Within communities. They were aided by the Children's Safety Education Foundation. Knock Kiiock - Baltymeiia Schools Projec*." 12 primary schools worked with 3 Independent Livintr schem¢s for older people. Together they Created a book about "Home" celebratino diversity and Culture. The project won the CIH Promoting Shared Communities Award 2022. Messines Projecl.. We had 17 participants Wlth 14 achieving OCN level Il's in Conflict Resolution which focused on addressing their differences through a shared history of World Wai Il. Communlty Devéloppnent.. We had 18 participants complete OCN Level I's in Community Development. Care and Supporl We manage 1,199 5UPPOrted housing tenants and residents through a blend of directly managed and partner schemes. We have an extensive list of partneis including: the Salyation Anny- De Paul- th¢ Simon ComFnunity; Extern- MACS- Praxi5' First Housing Aid and Support Services,. WHSCT and BHSCT. Our partners provide expert care and support some of the m05t vulnerable and marginalised people in 50¢iety. Client groups include the homeless, young and older people with l¢aming disabilities, people with dementia and those dealing with alcohol and substance dependency. Radius provides a landlord service to ourpartners in these settings. WÉthin our directly managed housing-with-tar¢ s¢hemes we seek to maximise independence and to ensure r¢sidents participate as much as possible in local community activities. We are grateful for the continuous help of businesses and volunteer5 who either directly or through funding, support lunch clubs, outings and a Tange of stimulation and entertainment activities for our residents and tenants. These include donated meals and food; memory cafes. chair aerobics. intergenerational events. shopping, theatre and concert outings; flower arranging, crafts and artwork. poety and history events. For the second year nmning a Radius residential scheme has topped the local polls with our Loughview Housing-with-care scheme voted 2023 Residential Care Home of the Year at the NI Nursing Care Awards. Radius's housing with care schemes continued to receive positive inspection reports from the Regulation and Quality Improvement Authority (RQIA) throughout 2022123. Staff within our directly maDag¢d schemes provided the best possible care, support and reassurance to our residents. Where it was safe to do so we facilitat¢d regular family visits and zoom calls withRn the directly managed schemes. A number of controls introduced at th¢ time of the pandemic have been retained but are expected to be lifted in mid-2023. Th¢ housing-with-care sector as with many sections of th¢ economy. is faclng a skills shortage and this has contributed to rising agency costs. In recent months, new approaches to advertising and recruitment have been bearing f￿1t. Staying Put Senjice Radius's Staying Put service provides invaluable assistance for people applying to the NT Housing Executive's Disability Facility Grant (DFG) Scheme for home adaptations. Our team helps applicants navigate the process and assists with the procurement of design services, building control applications and building works. Applications to the servi¢¢ began to incr¢a5e in late 2022 as the pandemic eased. However, some applicants for DFG'S have cited difficulties in procuring contrartOTS and g¢tting them to hold their prices arnidst the rising labour and material costs seen elsewhere. We are concerned that the DFG S¢h¢m¢ may be particularly impacted by possible Nl Government budget cuts in 2023124 and have made representations on behalf of those lik¢ly to be affect¢d. In 2022123 we received 478 new enquiries and 31 l approvals from the Nl Housing Executive, A total of 239 grant aided adaptations and improvements were completed in the same peitod.

Radius Housing Association Limited Strategic report of the Board of Management for the year ended 31 March 2023 (continued) Radius Connect24 Radius's ConnecQ4 business provides telecaTe and telehealth support services enabling many older and vulnerable people and those with chronic illnesses to maximise their Independence. Connert24 has l¢d the way in the UK and treland in developing a Co[￿er￿d health offering with a fijll triage Capability supported by an inhous¢ nursing resource. Connect24's overall connections were marginally up at year end, close to 20,000, at 20/0 above our growth target. This includes 3,168 patients across the Health and Social Care Trusts in Northern Ireland and R¢publi¢ of Ir¢land for r¢mot¢ telemonitoring. At the tonclusion of the 2022123 year 94.50/0 of calls were beints responded to within 60 seconds. The team also successfvlly renewed their IS027001 and lS020000 quality standards as certified by Exova BM Trada. Radius Connect24 is monitored and annually assessed by the Telecare Service Users Association (TSA). Our Connect24 team have been upgrading their telephony monitorino

platform through 2022123 as we prepare to adopt the new B T Aura telephony system. We have also been trialing analogue-digital ¢hangeover solutions in advance of the 'analogue switch-off date in 2025. This while exploring how new technologies such as Alcuris's Memo Hub and the Pacsana Bracelet, can help peopl¢ live more independently and reduce pressures on Health and Social Care services. C1￿10meT Service Centre (CSC) We launched our CSC two years ago and were particularly pleased to see advancements in staffmg and perforniallce through 2022123. Our intention is that the CSC and our call agents have the capability to field ¢nquiries through a variety of channels, i.e. telephone, email, social medi4 etc. and eventually be able to respond to 80010 of them at r￿St point of contact. In parallel we are moderni5ing our CRM and housing management systems and the enabling processes which will enhance our customer experience. In 2023 we have engaged a telephony expert to lead a review into the progress and learnings to date and to help shape the next phase of develop￿ent of the centre. Radius Staff Our succes5 and achievements are mainly down to the professionalism and dedication of our staff who have a high regard for customer service, COTnfort and safety. In the early day5 of the pandemic we were grateful for the flexibility and resilience shown by staff working in the front line within supported sChe￿e5 and from home. Office based staff embraced tlexible and hybrid working patterns and enjoyed access to core operating systems over secure digital platforn?s, In 2022123 we introduced hybrid working policies which enabled us to retain the positive aspects of home-working and more famity-friendly working arrangements. At the same time we found our customers were pleased with our overall service. We continued with our annual pulse survey of staff for the third year running to capture iheir views on home working during the pandemic. We also carried out a 5¢ries of mystery shopping surveys to erjsure customer service standards were being maintained. OUT Staffpulse survey was consistent with th¢ previous 2 years and ¢onfim15 high levels of support and Communication from management and Radiu5'. 850/y were at least in weekly contact with their line m8nager 930/0 felt connected to their colleagues and part of a team 83ts/o were clear about their job requirements in a home setting 700/0 felt Radius's level of communication was excellent with no improvement needed. 780/0 had acce5S to the inforniation from home needed for them to do their work. Th¢ HR and CoTporate Services team provided extra guidanrx on hom¢working* mental wellbeing and oth¢r support initiatives to staff throughout the y¢ar. Our Mental Health Strai¢gy launched in 2022 is sUPPOrting staff amidst the trdn51tion to hybrid and flexible working. Highlights include- 23 Mental Health First Aiders Staff health cash back pro8￿Mme via H¢a]th Shield 2417 Counselling via the Belfast Health and Social Care Th]st Weekly oc¢upational health nurse clinic with ¢mployee health checks Relaunch of Radius's 'Our Place. intranet site with advice and health tijols Sickness and absence levels for the year finish¢d on 3.30/0 up from 30/0 in 2022. Staff turnover was unchanged at140/0 across the year, below our peers in the Housing and Care Sector. Recruitment continues to be challenging. reflecting the national skills shortage. However our new recruitment methods are increasing applicants with some long-tenn vacancies now being fjlled.

Radius Housing Association Limited Strategic report of the Board of Management for the year ended 31 March 2023 (continued) Our transfomiational team progressed key Change and modernisation projects aimed at enhancing our customer experience. These are centered around new head offices. new computer management systems, an improved CRM system and a multi-channel customer portal. The team developed resources and guidance to aid SMARTER Working practices and to support staff working remotely. We expect work on our new offices to cornmence in early summer 2023 and to complete by the end of 2025. The Senior Management Team is 71Q/o female and 29Ll/o male. Radius has 843 employees of which 180/0 are male and 82Q/o are female. Regarding the Radius Boatl 27 /0 are female and 730/0 male. 470/0 are under 6 lyears and 530/0 above. We invest around £iOOk each year in the traintng and developrnent of staff. Applications for employment by disabled persons are always considered, bearing in mind the respective aptitudes and abilities of the applicant concerned. In the event of members of staff becoming disabled every practical effort will be made to ensure that their employn]ent with the Association continues and the appropriate training is arranged. Tt is the policy of Radiu5 that the training, career development and promotion of a disabled person should, as far as possible, be identical to that of a person who doe5 not suffer from a disability. An Equality Commission FEC Return was presenfrd during the year. In 2022J23 the Department for Communities published their regulatory judgement for Radius following the 2021122 Regulatory Return. We are pleased to confm that Radius was adjudged as continuing to meet the regulatory standards for govemance, finance and ¢onsumer standards. Moody's completed Èrs annual credit rating re-assessment of our organi5ation and reconfumeé our A l Rating. Thi5 l¢aves Radius as one of the few remaining UK housing associations at Moody's highest credit rating level for housing providers. This together with our positÉve Environmental, Social and Governance (ESG) a55es5ment against the UK'S Sustainability Reporting Standard position5 Radiu5 in a favorable light for additional private funding as we prepare for our next private placement in 2024. Radius is a member of the UK Housing Association benchmarking club, Housemark and undertake5 regular peer reviews to help identify areas for improved perfonnance, ¢fficiencies and raised productlvlty. We retained our Customer Service Excell¢n¢e quality mark during the year while our Development. Assets, Staying Put and Corporate Services departments were reaccredited to IS09001. IT services also retained their IS020000 and IS027001 accredÈtations. We received 152 complaints across its customer base of around 33,000 direct service users, down 160/& from the previous year. Of these, 80 (46•/} were upheld and 920/0 were responded to wAÈhin our targeted response time. The principal areas of dissatisfaction related to delayed repairs and perceived lower quality of service than was expected. We will continue to reflect on the learnings from complaints and seek to improve our business by shaping our policies, procedures and staff training programmes accordingly. Radius's Health, Safety, Risk and Insurance Group continue to closely monitor safety across the assoctation. This is backed up by mandatory health and safety courses, rolled out under Radius's Corpordte Training Plan. They met throughout the year to review safety aT]d assess risk. Covtd risk assessments were undertaken in the various work settings in response to the evolving guidelines from the Public Health Authority. In 2022123 we recorded one incident under the Reporting of Injuries, Diseases and Dangerous Occutrences Regulations 2013. Radius's A55ets team oversee compliance inspections covering= gas system servicing and inspection. legionella inspections, asbestos management, fLTe risk assessments and other compliance areas. It has been challenging to gain enty into all homes to conduct essential inspgctlOll5 and tests of gas boilers and perforEn other safety check5. At year-end we had 14 properties overdue a gas-boiler inspection. This despite many efforts to engage the tenants and to warn of our intention to disconnect and in some as¢5 even to tak¢ legal action. We (Jperate a robust GDPR monitoring and improvement function within our business. Over 900 stsff have received mandatory training on GDPR. System security and penetration tests were carried out durtng the year with r￿dingS being reported to the Board. The security che¢ks and controls take into consideration home-working attangements and continue to be upgraded in line with an ever- changing fraud and cyber-crime risks. We continued our commitment to developing staff. contributing to society and protecting the environment through our CSR Action Plan. Our charity partner, Air Ambulance Nl completed its fjrst year tenn with us during which time £32,000 was raised by staff, business partners and tenants. Th¢ fundraising ￿tiVitieS have given tenant communities an added incentive lo come tog¢ther across a variety of events. We are aiming to help them raise £70,000 over the 2 years of their charity tern) with us. Ener￿ Savings and ESG Over the last year we saw energy and fuel prices continue to rise leading to fmancial hardship for our tenants and staff, The Board took the decision not to pass on the full cost of heating within those sheltered housing schemes operating communal boilers. This together with a subsidy on service charges helped to shield our tenants from the fijll extent of the cost-of-living increase. These savings of approximately £2m combined with further assistance in the forni of Radius's Community Chest and our Tenant Hardship Fund, helped our most vulnerable customers to sustain their tenancies. Prices are unfortunately expected to only marginally reduce in 2023124.

Radius Housing Association Limited io Strategic report of the Board of Management for the year ended 31 March 2023 (continued) For the f￿$t time in 2022123 we assessed the Radius organisation und¢r th¢ UK'S Sustainability Reporting Standard. We are delighted to be able to draw out the excellent work by staff, tenants, Board and partners throughout Radius in ¢harnpiolling justice, celebrating diversity and Promoting biodiversity. This as part of our 'Radius Sustainable Way, _ a 9 them¢d action plan aimed at strengthening our resolve on matters which improve the environment and society while upholding go¢)d governance. Radius's homes have an average EPC score of 75 which is significantly above the Northern Ireland residential average of 60. 840/ts of Radius's housing stock is rated at EPC Level C and above. We have committed to investing £25m over the next S years in our older homes as we aim to elirninate dampness due to rising and penetrative damp. It is unfortunately the case that incidents of condensation and niould growth are presenting with In￿eaSed regularity as tenants struogle to adequately heat and ventilate their home5. We are working closely with tenants to raise awareness of measures to reduce this problem, while our contractors perfonn remediation works. We are designing new build projects to EPC Level-A while focusing on the regeneration of brownfield sites. A sizeable proportion of our housing stock has been fitted wtth solar panels including over 100 sheltered and supported housing schemes and is delivering over 700,OOOKWh's per.annum The energy savings are passed directly to older tenants and help to reduce fuel povety. Further Photovoltaic (PV) panels have been installed on over 400 general needs homes. Our planned maintenance teams continue to change over traditional oil fwed communal heating systems to more efflcient gas-powered systems. Radius will partner Phoenix Gas on a number of residenlial pilot Schemes in 2023124 aimed at identifying measures to cut carbon footprints. We also plan to commence our first 'Carbon Near Zero Energy, building in Larne. For the year ended 31 March 2023, Radius Housing, including its wholly owned subsidiarFes. reported the following energy usage and carbon emissions for the Group's corporate activities.. Underlying global ener￿ use for the year ended 31 March 2023 of 52,790,784 kwh (2022- 54217,826 kwh). Annual GHG emissions for the year of 9,584.37 tC02 (2022 - 10,523.91 tC02). Emissions intensity ratio of 0.099 GHG emissions per £tn revenue (2022 - 0.112). The above SECR dis¢105ure presents our carbon f(yotprint across Scopes 1, 2 and 3, together with the appropriate intensity tnetric and our total energy use of electricity. gas. kerosene. LPG and diesel vans. The usag¢ is as follows.. 2023 kwh 2022 kwh Electric Kerosene LPG Gas Diesel 7.769,047 16.243,405 1.698.3 81 26.933.547 146,405 8,292,574 14,495,375 1,503,534 29.815,0?9 111,314 Total 52,790.785 54,217,826 Ratio- 9,584.37197.067,730 (Net Turnover) = 0.099 (2022 - 0.112) Energy efficient action5 taken include: Radius operates a large solar panel portfolio, managing approximately 400 PV systems. offsetting our carbon emissions and making significant energy savings by Supplying electricity to a number of our housings schemes. During this financial year they generated an estimated 710,000 kwh which was exported to the grid. Radius Board and Senior Managepnent In 2022/23 Melanie English and Robert Dunne retired from the Board. Melanie had Chaired th¢ Radius Audit and Risk Comrnittee as well as Sitting on the Development Committee for Radius and fomierly Fold Housing Association, Robert had been a member of the Audit and Risk Committee. We are grateful to both for their ded]￿tiOn, leadership and contributions to the Association. We were delighted to welcome our new niembers, Niall Quinn and soon Ja¢yln Richardson onto the Board. At the commencement of 2023124, ther¢ were 4 females and 8 males on the Radius Board of Management as well as an independent male member on each of the two subsidiary companies and a female member on Tealstone Developments.

Radius Housing Association Limited Strategie report of the Board of Management for the year euded 31 March 2023 (continued) Radius launched its latest Corporate Plan in 2022123 followints consultation with all key stakeholders. Thig process was overseen by independent consultation experts Creative Bridge. The business planning framework for the next 5 years takes into consideration all opportunities and threats affecting our customers and business and draws Out our key prioTlties. We will revisit the framework each year as we refresh our business plan to ensure continued congruence. This annual review is infonned throuJo regular risL-a5sessments 8nd horizon scanning at committee and board levels, through customer and partner feedback, Tecommendations from audity and ndependent assessments. business stress-testing and through proposals emergints from strategic board discussions. Members continued to avail of extensive training and awareness sessions and seminars, covering a broad range of tOPiC5. There were inhouse workshops on: stress testing of th¢ 2022123 business plan and budget- the new Radius ESG Strategy,. the Radius 2023124 rent and service charge settlernent. Radius's fll)al appraisal of the new H¢ad Office at Holywood. a review into governance arrangements for Radius's subsidiaries- a fundamental review of Communities at Radius by Campbell Tickell. a . fabric-first, investment proposal for St John's Cloge, Belfast. An Interim Cashflow Appraisal Model for schemes with cashflow deficits. the Radius 2023124 budget and business plan. and a Treasury Options workshop for long-term, short-terni and sustainable financing. The Board held its strategic review event in Newcastle which included the Annual Group Appraisal and was attended by business partners and local public representatives. The Board perfornied its annual review of Radius's risk toleTance and appetite and confirnied the org8nis8tional scheme of delegation following minor adjustments on Development and procurement authorisations. The NatFed Code of Governance 2020 had been adopted at the beginning of 2022123. Radius 15 very grateful for the dedication and direction afforded to the Association by its voluntary board members. Their willingness to make themselves avallable for key decision ￿akIng throughout the pandemic ensured continuity Én services and projects. Their expenses claimed during the year amounted to £2,085 (2022 - £559). Finance and Business Performanee Aetual Performancefor Iheyear ended31 March 2023 In its sixth year of operation, Radius achieved an Operaling Surplus of £13.8m versus £15.3m in 2021122. The decrease was mainly due to the impact of cost increases across each area of the business. A major component of this is the increase in the cost of heat & light of our Schemes and Offices. The cost increased by 17.50/0 this year which is OT) top of the 920/0 increase itL 2021122. This along with the increased cost 4Jf staffing and the £2.8m increase in response and change of tenancy maintenance aTe the Enain variances lo the surplus in 2022123. Income stood at £97.] m, up from £94.2m in the same period last year. The value of Radius's total housing properties at cost rose from £1,109m to £1.158m. This movement was due to housing completions in the year less sales to tenants under the'right to buy" scheme which were significant this year as the Scheme drew to a Close. The management of financial resources is critical to the Group's ability to meet its objectives. Wbilst the Association has voluntary non-profit making status, the generation of an annual sU￿]uS is vttal to ensure the ongoing investment in new housing stock to provide for longer tern] maintenance obligations, to meet the commitments to lenders and to generally ensure adequate protection against unforeseen circumstances. Radius rattng was held at A I during the year 2022123 with the outlook moving to negativ¢ from slable due mainly to the outlook for the UK economy. Key financial indicators are shown below: 2023 2022 Net Surplus as % of Twnover Ib¢for¢ ex¢epliowal iletyis & affordabl¢ sal¢3) Operating Costs as 0/0 of Turnover lient Losses as lJ/o of Rental income Interest Cover (ofieraddingbaek eapiialisedvwjotr repairs) Liquidity Ratio Gearing Ratio 85.7¥0 3.70/0 3.50/0 1460/0 1.26 18.70h 0.95 These results and the associated statistics show that despite the cost pressures, Radius remains in a strong financial position.

Radius Housing Association Limited 12 Strategic report of the Board of Management for the year ended 31 March 2023 (continued) Po.Yilive Social Impaci & Valuefor Money Achieving Value for M(Trney (VFM) and continuous improvement remaln key priorities for Radius. We aim to utilise our assets and resources as much as possibl¢ to meet the needs of existing and future tenants and residents. With the effects of the pandemic. Brexit and a hard¢ning economic headwind, the opportunities for savings through tendering and re-procur¢rnent greatly diminished in 2022123. That said sizeable VFM was delivered by other means: Maximising the 'Housing for a]I' fund for shared communities Shielding of customers from th¢ full extent of actual costs Reduced waste Higher perfonnance through empowered staff Maximising our social value Positive customer and staff ¢ngag¢m¢nt Community safety and regulatory compliance. We work collaboratively across traditional business unit boundaries, harnessing the innovation and creativity of our people, our customers and our business partners to deliver improvements through effjciency, effectivenes5 and economy. ProductlVFty levels have retymed to nomial pre-pandemic levels. Howevet in the face of unprecedented inflation rates, labour scarcity and highly pres5urised supply chains, it ha5 been virtually impossibly to achieve procureEnent savings on price alone. Some costs in construction and maintenance activities have returned higher tendered rates by as much as 400/0. With the assistance of tenants we have redesigned some key contracting frameworks which are expected to reduce wastage and improve customei experiences over Itme. In 2023124 some contractors decided to exit fram¢work arrangements on grounds of diminished viability andlor followFng problems recNiting skilled and experienced staff. In tems of social value, we manacred to grow our Shared Housing and Good Relations Plan fimding to over £7m which will benefit our communities. Through 2022123 we invested over £ Im in our shared communities. Radius Homes achieved a VAT recovery of around £320k on design services in the year. Meanwhile we shielded tenants from around £600k of fuel costs and £1.4m of the actual 05t of services by Teduced s¢rvi¢e charges. We donated £25k to Radius's Community Chest Fund for the benefit of our tenants and assist¢d those most vulnerable by way of our Hardship Fund of £20k. Apart from the 700,OOOkWh of solar energy generated from PV panels across our stock. the additional R¢newable Obligation Certific*es (ROC'S) contribution for the same panels reached £1 Iok over the 12 months. In summary the VFM highlights throuoJ 2022r23 iticlude.. Community investment activities VAT recovery through Radius Homes Radius Conununity Chest Fund Radius Tenant Hardship Fund Annual PV panel contribution Heating costs absorbed by Radius Service charges costs absorbed by Radius £ 991k £ 320k £ 25k £ 20k £ Ilok £ 600k £1,400k Total VFM for Customers £3,466k While w¢ await details off our government's response to the 'z¢ro-¢arbon' challenge, we have committed £25rn towards the modernisation and retrofitting of our older and less fuel-efFi¢ient housing stock. Risk Managemenl Responsibility for the identification of risks is clearly defined and operates through a cascading risk assessment process. Key risks facing the Group are considered by the Board of Management at each board and committee meetkng. Each directorate updates its own risk Tegister every month and undertakes horizon scanning for possible thture risks. These in are elevated upwards to Radtus's Corporate Risk Register. We stress-tested our budget and business plan midway through 2022123, calculating an LBE against anumber of unfavourable variances and scenarios and found them to have an appropriate level of resilience and fInancial capacity to enable us to continue delivering on our objects. We revisited our risk appetite and tolerance and introduced a new risk appetile framework to guide the board. committees and management in their decision making. Radius's governance and risk management policie5 and procedures were reviewed by our auditors during the year, prior to the 2023124 business plan being approved in March.

Radius Housing Association Limited 15 Report of the Board of Management for the year ended 31 March 2023 (continued) Statement of the responsibilities of the members of the Board of Management(continued) The members of the Board of Manag¢ment ar¢ r¢sponsible for keeping proper accounting records which disclose with reasonable a￿vraCY at any time the financial position of th¢ Association and Group and enable them to ensure that the fmancial statements comply with the Co-op¢rative and Community B¢n¢fit Societies Act (Northem Ireland) 1969 and the R¢gi5tered Housing Associations (Accounting Requirements) Order (Northern Ireland) 1993. Tb¢y have general responsibility for the taking of reasonable steps to safeguard the assets of the Association and to prevent and det¢ct frnud and other irregu1￿1t1¢S. The directors are responsible lor the maintenance and integrity of th¢ corporate and fmancial infonnation included on the company'5 website. Legislation in the United Kingdom governing the p￿paratIon and dissemination of financial stat¢m¢nts and other irkforniation included in the DtrectOTS report may differ from legislation in other jurisdictions. Statement of disclosure of information to auditors So far as each of the members of the Board of Management at the date of approval of these financial statements is aware.. There is no relevant audit information of which th¢ Association and Group's auditors are unaware; and They have taken all the steps that they ought to have taken as metnbers of the Board of Management in order to make themselves aware of any relevant audit information and to establish that the Association and Group's auditors are aware of that infonnation. Internal control The Board of Management ha5 overall responsibility for the Association and Group's internal control systeEns and for reviewing the effectÉveness of these. Such systems can only provide the Board of ma￿agement with reasonable (and not absolutc) assurance against tnaterial misstatement or loss as they are designed to fflanage the risk of failure to achieve business objective5 rather than eliminate the risk completely. Audit The Board of Management has established an Audit Committee with clearly defined terms of reference. The main functions of the Audit Committee are Éo control and ieview the external and internal audit functions, the internal control syslems and monitor the perfomiance of the Association against the key business indicators. The Association's internal auditor5 report diiectly to the Audit Committee on completion of each systems review and an annual swnmary report is produced by the internal auditors summarising the systems audit programme each year. The work of the extemal auditors also provides some assurance through the year-end audit and the provisÉon of a report to those tharged with gov¢manc¢. Board of Management, Shareholders and Officers The members of the B(iard of Management and the o￿leerS of the Association are listed on page 2. Each member of the Board of Management other than members co-opted during the year holds one ￿llY paid share of £1 in the Association. Radius's voluntary board members continue to give very generously of their time. They supported Radius throughout the year through: att¢ndance at board and committ¢¢ m¢¢tÉngs and the review of papers. all¢nding special board meetings, strategy workshops. in t¢nd¢T evaluations. in meetings with regulators and business partners. training events, seminaT5 and conferences- involvement in board and senior management recruitsnent exercises and by attending the annual strategic workshop. Independent auditors The auditors, Grant Thornton (Nl) LLP, have indicated their willingness to continue in offirK, and a resolution proposing their reappointment will be proposed at the Annual General Meeting. By order of the Board MPitt Chair of the Board of Management 29 June 2023

Radius Housing Association Limited 14 Report of the Board of Management for the year ended 31 Mareh 2023 The Board of Management present their report and the audited financial statements for the year ended 31 March 2023 of Radtus Housing AssocÉation Limited (the "Asso¢iation"} and its subsidiaries (the "Group"). Board of Management The Board of Manag¢Tnent is a voluntary CommÈttee who have responsibillty for the strategic dtrectton, general policy and manag¢m¢nt of the Group. The day to day marjagement of operations is delegated to the Group Chief Executtve and the Senior Management Team. Actual Performance in the year ended 31 Mareh 2023 2nd expected perforniance in the year ended 31 Mareh 2024 The sections on business and financial perfonnance in the year ended 31 March 2023 are covered in pages I I to 13 of this report. The expected perfomance in Ihe year ended 31 March 2024 is covered on page 13. Treasury The Group's treasury management policy fa¢ili¢at¢5 the effective management of cash flows, bO￿Ow1n￿$, investments and the risks associated with these activities_ At 31 March 2023, the Association had loans outstanding of £202 Inillion (2022. £206 million). Average net debt per unit was £14,802 at 31 March 2023 which was down from £15.283 at 3 l March 2022. The Group was fully compliant with loan covenants during the y¢ar. The Association's interest cover ratio for the year of 196 % (2022 - 216 /0} and the gearing ratio as at 31 March 2023 of17.5L/lo (2022 18.70/0) cotnfortably exceeded the Associatlon's primary lenders, requirements. Responsibility for the tnanagement of interest rate risk and liquidity risk is delegated to the Association Finance Committee. The Association finances its operations through a combination of borrowing and the reinvestment of retained reserves. The amount of borrowings and its terms are rcviewed and determined by the Finance Committee. Interest rate risk Exposure to fluctuating interest rate5 is limited given the majority of the Association's loans are fixed rate. The Association's effective interest rate in 2023 was 4.16/0 (2022.. 4.150/0). Liquidity risk The Group has sufficient long-lerni loan fLnancing available to achieve business objeetlves and to facilitsle planned growth. The Association had available Eoan facilities agreed with banks but undrawn of £70 million at 31 March 2023 (2022 - £50m). Currency risk The Association and Group does not engage in foreign currency transactions and so is not exposed to exchange risk. Charitable donations Donations and sponsorships totalling £29,885 (2022.. £10,837) were made by the Group during the year. No donations for political purposes were made during the year (2022.. £DiI). Statement of the responsibilities of the members of the Board of Management The Co-operative and ComnJuThity Benefit Societies Act and registered Housing Association legislation require the members of the Board of Management to prepare fll)ancial statements for each financial year which give a true and fair view of the state of the Association and Group's affairs and of its surplus or deficit for that period. In preparing these statements the Board is required to." Select suitable accounting policies and apply them consistently Make judgements and estimates that are reasonable and prudent State whether applicable a¢counting standards have been followe(L subject to any material departures disclosed and explained Én the fmancÈal statements. and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Association and Group will continue to operate.

Radius Housing Association Limited 13 Strategic report of the Board of Management for the year ended 31 March 2023 (eontinued) The challenging economic situatton is impacting on customers, our partners and our business. Rising inlerest rates, heightened inflation and high energy, fuel and food costs are pushing more families into poverty. The need to deliver VFM for all our customers has seldom been greater. Radius and all local housing associations are prepared to navigate the challenges of an absent functioning local government coupled with a N. Iieland budget deficit. Although the demand for mor¢ social housing continues lo increase. so we must also balance our future investment priorities with the need to decarbonise, modernise and keep safe our existing stock. Construction and maintenance costs have been rk5ing for over 24 months with some builders and contractors struggling to deliver within tendered rates. Recruitment across all business sectors has been challenging and within the social housing sector there are acute skill shortages in asset Management, development and care roles. Organisations such as Radius are focussing on new methods of recruitment as well as new market segments. In surnmary some of the major factors likely to Émpact on Radius, our customers and the Nl Social Housing Sector in the yeaT ahead include the.. Uncertainty around the Nl Assembly, the Nl Protocol and cuts in oovernment funding. Economic impact of high inflation and interest rate5 togetheT with higher energy and fijel costs. Geo-political effects of the Ukrdine war particularly on asylum seekers, commodities and food ￿st5. Impact of climate change and 'zero carbon, targets. Rapidly changing technology with added demand for digital services. Cyber and data security. New fwe-safety and sustainability building standards. Future Supporting P¢opl¢ strategy. R15ing construction, land and material costs. Availability of land in areas of demand. Development risks around planning and water infrastructure capacÉty. Growtng population of older people with compl¢x needs. Retention and availability of skilled stsff. E¥ecledperformance in Iheyear ending 31 Marcli 2024 Radius has plans to grow its turnover, excluding propety sales, to £103m with an operating surplus of £19. Im in 2023124. We will increase our VFM initiatives for customers lo £4_5m while raising our investment in existing properties to £29m. We will have 700 homes under constrnction on sites across Northern Ireland while targeting at least a further 350 new starts in the year. We also expect to commence our f￿st fully private developmenl project on site. the profits of which will help subsidise social housino development ashflow deficits elsewhere together with our sustainability plans. We continue to work with our tenant& partners and staff to ensure all services are at optimal p¢rforn]ance levels. At the same time we will continue with our community investment initiatives, building resilience within our shared neighborhood5. Our staff are helping to sustain tenancies while supporting tenants into work and education. We will publish our second Environmental Social and Governance Report to the Sustainability Reporting Standard5 as well as finalising our 5 Year ESG Strategy. We remain comrnitted to operating at all times with good governance, social responsibility and transparency. We are a learning OTganisation, keen to listen to our customers and adopt 'best-in-class' procedures, practices and systems. At the heart of our organisation are dedicat¢d and professional staff who through their hard work, ded2¢ation and Creativity will Cnable our customers and communities to thrive. The Board is content that the Radius Group has suffEcient resour¢es to fund its ongoing activities for the next 12 months and beyond whereby it continues to be appropriate to adopt the going conrern basis in the pr¢paration of the annual f￿ancial slatements. By order o Comp 29 Jun ny Secretary 2023

Radius Housing Association Limited 16 Independent auditors, report to the members of Radius Housing Association Limited Report on the audit of the financial statements Opillion We have audited the financial statements of Radius Housing Association Limikd (the "Association") and its subsidiaries (together th¢ 'Group") for the year ended 31 March 2023, which comprise the Consolidated and Assoeiation's statement of comprehensive incom¢. the Consolidated and Association's statement of changes in reserves, the Consolidated and Association's statement of financial position and the Consolidat¢d stat¢m¢nt of cash flows, and the related notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in the preparation of the financial statements is applicable law and accounting standards issued by the Financial Reporting Council including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of treland" (Uniled Kingdom Generally Accepted Accounting Practice). In our opinion, Radius Housing Association Limited's financial state￿ellts- give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the state of affairs of the Group and the Association as at 31 March 2023 of the assets, liabilities and financial position of the Group and Association's income and expendithre and the Group's cash flows for the year then ended. and have been properly prepared in accordance with the requirements of Co-operative and Cominunity Benefit Societies Act (Northern Ireland) 1969, the Housing (Northern Ireland) Order 1992, Registered Housing Associations (A¢countsng Requirements) Order (Northern Ireland) 1993 and the Charitie5 Aci (Northern Ireland) 2008. Basis for opinion We conducted our audit in accordance with tnternational Stsndards on Auditing (UK) {'ISAs (UK),) and applicable law. Our responsibilities under those Standards are further de5cTibed tn the 'Responsibilities of the auditor for the audit of the financial statements, section of our report. We are independent of the Group and Association in accordance wtth the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the FRC'S Ethftcal Standard and the ethical pronouncements established by Chartered ALxountants Irelafi￿ applied as deterniined to be appropriate in the circumslan¢¢s for the entlty. W¢ have fulfilled our other ethical iesponsibilities in a¢cordanc¢ with these requirernents. We believe that the audit evidence w¢ have obtained is sufficient and appropriate to provide a basis for our opiniorj. Conclusions relating to going coneern In auditing the financtal statements, we have concluded that the Board of Managements. use of ¢yoing concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfornied. we have not identified any tnaterial uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and Association's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Board of Management with respect to going concern are described in the relevant section5 of this report. Other information Other inforniation cornpri5es infonnation included in the annual report, other than th¢ fmancial statements and our auditor's report thereon, including the Strategic Report of the Board of Management, and th¢ Report of the Board of Management. The Board of Management are responsibl¢ for the other inforniation. Our opinion on the financial Statements does not cover the other infonnation and, except to the extent otherwise explicitly stat¢d in our report, we do not expr¢ss any fonn of assurance conclusion thereon. In connection with our audit of the fmancial statements, our Tesponsibility IS to read the other infornialion and, in doing 50, consider whether the other infomiation is materially incon5AStent with the financial statemenls or our knowledge obtained in the audit, or otherwise appears io be materially mR5Stated. If we identify such material inconsistencies in the financial statements, we are required to deterniine whether there ts a material mi5Staiement in the financial statements or a material misstatement of the other information, If, based on the work we have perfonned, we conclude that there is a material misstatement of thi5 other inforniation, we are required to report that fact. We have nothing to report in this regard.

Radius Housing Association Limited 17 Independent auditors, report to the members of Radius Housing Association Lxmited (continued) Report on the audit of the finaneial statements (eontinued) Matters on which we are required to report by exceptio Under the Co-operative and Community Benefit Societies Act (Northerm Ireland) 1969 we are required to report to you if, in our opinion.. the Association have not kept proper books of account: or the Association have not tnaintained a satisfactory system of control over transactions. or the financial statements are not in agreement with the Association's books of account. or we have not received a]1 the information and explanations we require for our audit. We have nothing to report in thi5 regard. Under the Charities Act (Northern Ireland) 2008 and Regulation 9 of the Charities (A¢¢ounts and Reports) Regulations (Northern Ireland) 2015, we are required to report to you if, in our opinion-, sufficient accounting records have not been kept. the financial statements are not in agreement with the accounting records. or we have not r¢¢eiv¢d all the information and explanations we requÈre for our audit; or the infornjation given in the Report of the Board of Management and the Strateoic Report As inconsistent in any material respect. We hav¢ nothing to report irj this reoard. Responsibilities of management 2nd those eharged with governance for the financial statements As explained more fully in the Board of Manaoements, responsibilities statement, managem¢nt is responsible for the preparation of the financial statements which Ir(ve a true and fair view in accordance with United Ktngdom Generally Accepted Accounting Practice, including FRS 102. and for such internal control as directOTS deterniine necessary to enable the preparation of financial stalements are free from material misstatement. whether due to fraud or em)r. In preparing the financial statements. management is responsible for assessing the Group and Association's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group and Association or to ce85e operations, or has no realistic altemative but lo do so. Those charged with governance are responsible for overseeing the Group and Association's financial reporting process. Responsibilities of the auditor for the audit of the financial statements The objectives of an auditor are to obtain reasonable assurance about whether the financial statements as a whole are free from material isstatement, whether due to fraud or error, and to 155ue an auditor's report that includes their 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 2 material rnisstatement when it exists. Mi5Statement5 can arise from fraud or e￿0[ and are considered material if, individually or Èn the aggregate, they Could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A fijrther description of an auditor's responsibilities for the audit of the finan¢ial statements is located on the Financial Reporting Council's website at: www.frc.org.uklauditorsresponsibilities. This descTlPtion fom)s part of our auditor's report. EYplaHolion as io whal e¥lent Ilie audll was consldered capable ofdelecling irregulqriiles, in¢ludi)Igfraud Irregulartti¢s, including fraud, are instances of non-¢ompliance with laws and regulations. We design procedures in tine with our responsibilities, outlined above. to d¢t¢¢t material misStat¢ment5 in respect of itTegularities, including frdud. Owing to the inherent limitations of an audiL there is an unavoidable risk Ihat material mtsstatement in the financial statements may not be detecle(L even though the audit is properly planned and perfornied in accordance with the ISAS (UK). The extent to which our procedure5 are capable of detecting irregularities, including fraud is detailed below.

Radius Housing Association Limited 18 Independent auditors, report to the members of Radius Housing Association Limited (continued) Report on the audit of the financial statements (continued) Explanation as to what extent the audit was considered c2pable of detecting irregularities, including fraud (Contlnued) Based on our understanding of the Group and Associalion, we idenlified that the principal risks of non-compltance with laws and regulations related to compliance with Data Privacy law. Employment Law, Environmental Regulations, Pensions Legislation, Health & Safety, and we considered the extent to which non-compliance might have a material effect on the f￿ancial statements. We also considered those laws and regulattons that have a direct impact on the preparation of the financial slaiements. We evaluated management's inceniives and opportunities for fraudulent manipulation of the financial stalements (includints the risk of override of controls), and deterniined that the principal risk5 were related to P05ting inappropriate journal entries lo manipulate financkal perfomiance and management bias through judgernents and assumptions in significant a¢¢ounting estimates, in particular in relation to significant one-off or unusual transactions. Responsibilities of th¢ auditor for the audit of the financlal statements We apply professional scepticism through the audit to consider poterjlial deliberate omission or concealment of significant transactions. or u)compl¢felinaccurate disclosures in the financial statement. In response to these principal risks, our audit procedures included but were not limtted to- enquiries of management board on tli¢ policies and procedures in place regarding compliance with laws and regulations, includiog consideration of known or suspected instances of non-compliance and whether they have knowl¢dge of any actual, suspected or alleged fraud. inspection of the Group and the Association's regulatory and legal co￿¢SpOndence and review of minutes of board meetings during the year to cotToborate inquiries made; gaining an understanding of the internal controls established to mitigate risk Telated to fraud. discussion amongst the engagement team in relation to th¢ id¢ntified laws and regulations and regarding the risk of fraud, and remaining alert to any indications of non-compliance or opportunities for fraudulent manipulation of financial statements throughout the audtt; identifying and testing journal entries to address the Tisk of inapproprlate journals and management ove￿Ide of ¢oi)trols; designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing; challenging assumptions and judgements made by management in their significant accounting estimates. including useful economic life of housing and non-housing properties, and defined benefit assumptions. and review of the financial statement disclosures to underlying supporting documentation and inquiries of managetnent. The primary responsibility for the prevention and detection of I￿egulaTItieS including fraud rests with those charged with governance and management. As with any audiL there remains a risk of non-detection or irregularities, as these may involve collusion, forgery. intentional otnissions, misrepresentations or override of Rnternal controls. The purpose ofour audit work and to whom we owe our respoll5ibilities Our report is made solely to the Association in accordance with section 43 of the Co-operative and Cornmunity Benefit Societies Act (Northern Ireland) 1969, section 65 of the Charities Act (Northern Ireland) 2008, regulations tnade under sectlon 66 of that Act (Part 4 of the Charities (Accounts and Reports) Regulations (Northem Ireland) 2015 and article 19 of The Housing (Northern Ireland) Order 1992. Our audit Work has been undertaken so that we might state to the Association those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility io anyone other than the Association as a body, for our audit work, for this report, or ft>r the opinions we have fornied Louise Kelly (Senior Statutory Audttor) For and on behalf of GTant Thornton (Nl) LLP Chartered Accountants & Statutory Auditors Belfast Northern Ireland 19

Radius Housing Association Limited 19 Consolidated statement of comprehensive income for the year ended 31 March 2023 2023 2022 Note Turnover 97,067,730 (83,243,376) 13,824,354 {lJ36,751) 406,645 127,659 (8,439,665) 2,602,947 94,162,736 {78.882,3S5) 15,280,381 (330,592) (41,590) 8,062 (8,542,691) (511) (25,000) 6,348,059 Operattng costs Operating surplus Transfer to Disposal Procteds Fund Transfer from/(to) Tenant Services Fund Interest receivabl¢ and similar in¢ome io Interest payable and similar charges Net pension income Exceptional rosts Surplus before tax for the fin2nei21 year Taxation 12 13 7,185,189 14 Surplus for the financial year Other comprehensive income/(e¥pense): Fair value gain on f￿ancial instrument5 Pension scheme deficit reduction payments Actuarial (loss)/gain in respect of pension schemes Total other eomprebensive (expenses)lincomt Total eomprehensive ineome for the year 7,185,J89 6,348.059 199,878 (1,669,1)00) (2,605,000} (4,074,122) 3,111,067 177,273 (1,639.000) 10,754,000 9,292,273 15.640.332 36 The notes on pages 24 to 49 are an integral part of these Consolidated financial statements. All amounts above relate to continuing operations of the Group. Consolidated statement of changes in reserves for the year ended 31 March 2023 2023 2022 Not¢ Surplus for the financial year Fair value gain on fmancial instruments Pension scheme deficit reduction payments Actyarial (loss)/gain recognised in pension scheme Issue of share capital Net addition to capital and reserves Opening total capital and reserves Closin total ca fttal and reserves 7,185,189 199,878 (1,669,000) (2,605,000) 6,348,059 177.273 (1,639.000) 10,754,000 36 28 3,111,068 159,SIS,893 162 626 961 15,640,334 143,875,559 159,515,893

Radius Housing Association Limited 20 Association statement of comprehensive income for the year ended 31 March 2023 2023 2022 Note Turnover 97,065,530 (83,241,419) 13,824,111 (1,336,751) 406,645 127,657 (8,439,665) 2,602,947 94,160.535 (78.880,262) 15,280,273 (330,592) (41,590) 8,062 (8,542,691) (511) (25,000) 6,347,951 Operating cost5 Operating surplus Transfer to Disposal Proceeds Fund Tran5f¢r from/(to) T¢nant Seryices Fund Interest receivabKe and similar income io Interest payable aJ)d similar charges Net pension income Exceptional costs Surplus before lax for the financial year Taxation 12 13 7,184,944 14 Other comprehensive (expense)lincorne: Fair value gain on financial instruments Pension scheme deftcit reduction payments Actuarial (lossygain in respect of pension schemes Total other COmprehe￿5]ye {expense)lincome Total Comprehensive income for the year 199,878 (1,669,000) (2,605,1)00) (4,074,122) 3,110,822 177,273 (1,639,000) 10.754,000 9,292.273 15,640224 36 The notes ot] pages 24 to 49 ar¢ an integral part of these consolidated financial statements. All an)ounts above relate to continuing operations of th¢ Association. Association statement of changes in reserves for the year ended 31 March 2023 2023 2022 Note Surplus foT the financial year Fair value gain on rtnancial instrLmients Pension scheme deficit reduction payments Actuarial (loss)Igain recognised in pension scheme Issue of share capital Net additton to capital and reserves Opening total capital and reserves Closing total capital and reserves 7,184,944 199,873 (1,669,000) (2,605,000) 6,347,951 177,273 (1,639,000) 10,754,000 36 28 3,110,823 159,059,043 162,169,866 15,640,226 143,418,817 159,059,043

Radius Housing Association Limited 21 Consolidated statement of financial position as at 31 March 2023 2023 2022 Note Fixed assets Housing properties - depreciated cost Other tangible fixed assets Investments 15 926.893,127 9,825,598 3,985,981 940,704,700 890,630,839 8,892,587 3,024,195 902,547,621 16 17 Current assets Stock 19 9,236,310 23,132,980 269J25 10,104548 42,743,163 (45,050,766) (2.307,603) 938,397,103 9,291,861 12,487,652 267.338 26,981,779 49,028,630 (39.497.341) 9.531,289 912,078,910 Debtors 20 Investments 21 Cash at bank and in Iiand 22 Creditors: amounts falling due within one year Iyet current (liabilities)lasset5 Tot31 assets less current liabilities 23 Creditors: amounts falling due after more than one year Net assets 24 (77S,770.142) 162.626.961 (752.563.017) 159,515,893 Capital and reserves Called up sha￿ Capital Capital reserve Revenue re5¢rve 28 26 26 29 274 273 162,626,661 162,626,961 159,515,594 159,515,893 Total capital and reserves The notes (m pages 24 to 49 are an integral part of these consolidated fÉnancial statements. The fmancial statements on pages 19 to 49 were approved and authorised for issue by the Board of Management on 29 June 2023 and were signed on its behalf by: MPitt Chair OBE ny Seeretary L Campbell Board Member Co Radius Housing Association Limited Registered number: IP169

Radius Housing Association Limited 22 Association statement of financial position as at 31 March 2023 2023 2022 Note Fixed as5¢ts Housing properties - d¢preciated cost Other tangible fixed assets Investments 926,893,127 9,825,598 9,054.796 250,004 946,023J25 890,630.839 8.892.587 8.086,765 250,004 907.860,195 17 Investments in subsidiary undertakings 18 Current assels Stock 19 4,155,320 23,403,148 269,325 9.323,792 37,151,585 {45,235,102} (8,083,517) 937,940,008 4,225,041 12,400,805 267,338 26,057,587 42.950.771 (39,188.906) 3,761,865 911,622,060 Debtsjrs 20 Investments 21 Cash at bank and in hand 22 Creditors: amounts falling due within one year Net eurrent {Ilabilitles)lassets Total assets less current liabilities 23 Creditors: amounts falling due after more than one year Net assets 24 (775,770,142) 162,169066 (752,563.017) 159,059,043 Capital and reserves Called up share capital Capital reKrve Revenue reserve 28 26 26 29 274 273 162.169,566 162,169,866 159,058,744 159,059,043 Total capitsl aod reserves The notes on pages 24 to 49 are an integral part of these consolidated financial statements. The financial statements on pages 19 to 49 were approved and authorised for issue by the Board of Management on 29 June 2023 and were signed on its behalf by: tyIL Ar MPitt Chair JMCL Comp an OBE ny Seeretary L Campbell Board Member Radius Housing Association Limited Registered number: IPI 69

Radius Housing Association Limited 23 Consolidated statement of cash flows for the year ended 31 March 2023 2023 2022 Note Net cash from operating activities Cash flow from investing activlties Purchase and development of housing properties Housing AssocÉation Grant and other grants Receipts from disposal of housing properties Purchase of other asseis and invesknents 30 12,969,219 12.490,903 (58,445,745) 35,551,858 7,982,897 (2,527,485) (40,504,587) 20.266,748 3,612,779 (382,534) 180,883 8,062 (16,818,649) Receipts frorn disposal of other assets and investments Interest received 82,247 (17J56228) Net cash used in illvestillg activities Cash flows from financing activities Issue of share capital Loan principal repayments Interest paid Net eash used In finaneing activities Net deerease in eash and cash equivalents Cash and cash equivalents at the beginning of the year Cash &lld eash equivalents at the end ol the year (4,386,279) (8,101,957) (12,488,235) (16,875,244) 27,249,117 10 J73,873 (2,857.151 } (8,543,202) (11,400,351) (15.728.097) 42,977,214 27.249,117 The notes on pages 24 to 49 are an integral part of these consolidated fmancial statements.

Radius Housing Association Limited 24 Notes to the financial statements for the year ended 31 March 2023 General information The Group and Association's principal activtty during the financial year was providing bitrh quality hom¢s for r¢nt throughout Northern Ireland. The group is registered under the Co-operative and Community Benefit Societies Act (Northern Ir¢land) 1969 and is a Registered Housing Association, domiciled In the UK. The adthess of the Tegistered otttce is 3 - 7 Redbum Squar¢, Holywood, County Down, BTI 8 9HZ. ststement of compliance These financial statements of Radius Housing A550ciation Ltmited have been prepared on the going concern basis in compliance with United Kingdom Accounting Standards, including Financial Reporting Slandard 102, 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" {"FRS 102 ) under the historical cost convention, and in accordance with applicabl¢ accounting standards in the United Kingdom and Statement of Recommended Practtce for Accounting by Registered Social Landlords (updated 2014). The principal accounting policies, which have been applied consistently throughout the year, are set out b¢low. Th¢ presentation of the financial statements complies with the Registered Housing Associations (Accounting Requirements) Order (Northern Ireland) 1993. The functional and preseniational Cu￿encY is pound sterling (£). Summary of significant accounting policies The principal accounting policies applied in the pieparation of these fjnancial state￿ents are set out below. These policies have been ¢onsi5tently applied to all the years presented, unless otherwis¢ stated. Th¢ signifi¢ant accounting policies adopted by the Group and the Association are as follows= Basis of preparation of financial 5tatemeuts These consoltdated and separate financial statements are prepared on a going concern basis, under the historical cost Convention. The preparation of financial statements requires the us¢ of certain crili¢al accounting estimates. It also requires management to exerclse its judgement in the process of applytng the Group and Association accounting policies. The areas involving a higher degree of judgement or complexity. or areas where assumptions and estimates are Si￿1r1￿nt to ihe f￿ancial slatemenis, are disc105ed in note 4. Basis of consolidation The Consolidated Statement of Comprehensive Income and Consolidated Statement of Financial Position include the financial statements of the Group and its subsidiary undertakings made up to 31 March 2023. Intra Group transactions, any unrealised profitsllosses arising and intercompany balances are eliminated fully on consolidatxon. Going concern The financial statements hav¢ b¢en prepar¢d on a going concem basis which the Board considers to be appropriate for the following reasons: (i) The Group and Assoctation prepared a 5 Year Corporate Plan in 2022 and tbe Business Plan is updated and approved on an annual basis. The most recent plan wa5 approved at our March 2023 Board Meeting. This plan includes departmental budgets for the coming fmancial year and updates our 5 year strategir goals. Progress towards these goa15 is monitored on a monthly and quarterly basis through our Cotporate Scorecard and updat¢5 provided to Committees and Board at least quarterly and regularly io other interested stakeholders. (li) The Board is satisfi¢d with the 2023124 Budgels for the Group and Association and the long terni plans and 15 of the opinion that despite the bleak economic outlook, the Group and Association has adequate resources to continue in business for the foreseeable future, The Board note the net current liability Posllion OTh the Group and Association Ststement of Financial Position. (iii) We have prepared financial projections to tbe end of 2058 which indicate that the GTOUP and Association will continue to be profjtable for this enttre period. This gives our BoaTd 5uffirient comfort that we have sufficient resources to discharge all liabilities tn the ordinary course of business as they fall due for payment and that we have adequate liquid resources available.

Radius Housing Association Limited 25 Notes to the financial statements for the year ended 31 March 2023 Sumrnary of significant accounting policies (continued) Going eoneern (Continued) (iv) The projections allow for the current delays in handovers and the increased cost of bo￿owing. They also take into account our current planned maintenance program and increased cost of day to day repairs and energy. In addilion, we have stress tested the tnodel to ensure it can withstand a number of adv¢rs¢ scenarios such as higher interest rates and increased void property. The Board believes we have sufficient funding in place and expect the Group and Association to be in compliance with its debt covenants even in severe downside scenarios. We renewed our short tenn farilities in March 2023 for four years which gives us further comfort for the medium terni. (v) The Board acknowledoes that for the continuing delivery of its development progratnme, the Association is dependant on grant fijnding fron7 the Department for Communities and bank fmance. The Board therefore believes there is a reasonable expectation that the Group and Association has adequate resources lo continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis in preparing th¢ financial statements. Foreign ¢urr¢ncies Transactions and non-mon¢tary assets, denominaled in foreign currencies, are translated at the exchange rate at the date of the transaction. Monetary assets and liabilitÈes denominated in foreign currencies ar¢ retranslated at Ihe ral¢ of exchange ruling at the statement of financial position date or the exchange rate of a relat¢d foreion exchange contract where relevant. The resulting exchan(Fe gains or losses are dealt with in the income and expenditure account. Revenue recognition Revenue is measured at the fair value of the consideration received or receivable and represents the omount receivable for goods supplied or services rendered, net of returns. discounts and rebates allowed by the Group and Association and value added taxes. The Group and Association bases its estimate of returns on historical results, taking into consideration the type of customer, the type of trdnsaction and the specifics of each a￿angeMent. Where the consideration Teceivable cash and cash equivalents is defe￿ed and the arrangement constithtes a fmancing transaction, the fair value of the consideration is measured at the present value of all future receipts using the imputed rate of interest. The Group and Association recogni5e5 revenue when {a) the significant risks and rewards of ownership have been Érdnsfc￿ed to the buyer. (b) the Group and A5sociatRon retains no continuÉng involvetnent or control over the goods" (c) the amount of revenue can be measured reliably. (d) it is piobable that future economic benefits will flow through the Group and Association and (e) when the specific criteria relating to each of the Group and Association's sales channels have been met, as described below and in note 5. (i) Net rental income Incoffte include5 rent and Service charge income arising from the Provision of housing accomrnodation and the amortisation of Housing Association Grant. Incorne is recognised in the period to which it relates. (ii) Other Income All other incotne is recognised in the Stat¢m¢nt of cotnpr¢h¢n3ive income when the ternis of revenue recognition have been met. Employee benefits The Group provides a range of benefits to employees, including paid holiday arrangements and defjned contribution p¢nsion plans. (i) Short term benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognized as an expense in the period in which the service is received.

Radius Housing Association Limited 26 Notes to the finaneial statements for the year ended 31 March 2023 Summary of significant accounting policies (continued) Employee benefits (continued) (li) Multi-employer pension plan Retirement benefit5 to employees of the AssocÉation are provided by the North¢Tn Ireland Local Government Officers Superannuation Committee (NILGOSC) d¢fined benefit scheme which is externally funded. The assets of the NILGOSC scl)eme are held separately from those of the Association. The Assoclation has adopted FRS 102 section 28 'Employee benefits. in these financial statemenis. Pension 5chetne assets are mea5urcd using market value. Pension scheme liabilities are measured using the projected unit method and discounted at the CU￿ent rate of retUTD on a high quality CQTporate bond of equiva]ent tern) to the liability. Th¢ tncrease in the present value of the liabilities of the Association's defined benefit pension scheme arising from employ¢e service in th¢ year is Charged lo operating SUTplus. The net interest cost is calculated by applying the discount rate to th¢ net balance of the defined benefit obligation and the fair value of the plan assets. Thi5 Cost is recognised in the statement of ompr¢hensiv¢ income as 'Finance expense,. Actuarial gains and losses are reco￿]Sed in the statement of comprehensive income. The contributions are deterniined by qualified actuari¢5 On th¢ basis of quinquennial valuations, using a projected unit method. All new employees joinintr Radius from l April 2013 are not¢ligibl¢ to join the NILGOSC sch¢me. Instead they join the Sociaj Housing Pension Scheme Defined Contribution (SHPS DC). SHPS DC is a defined contribution workplace pension scheme adEninistered by The Pensions Trust and is the pension vehicle provided by Radtus under auto-enrolment legislation. Each employee holds a separate pension plan with The Pensions Trust to which Radius contributes 6% of pensionable pay with the employee contributing a minimum of 40/0. The employee is responsible for any iftvestment decisions from the various investment options provided by The Pensions Trust_ The Association's liability is limited to the above employer contribution. Tangible fixed a55cts Housing properties The Group operates a full component accounting policy in retation to the capitalisation and depreciation of its completed housing stock. Housing propellies ar¢ stated at cost including an appropriation of on costs and nel of inktial sales proceeds from part owners in respect of leasehold schemes and are reviewed annually by the Board for impainnent. Other fixed asse15 Other fixed assets are stated at Cost less accumulated d¢preciation and are reviewed annually by the Board for impairment. Schemes under construction Schemes under constNction are carried at cost and are not depreciated until brought into use. Capitalisation of development costs Development Costs are capÉtal?sed where they are directly attributable to britiging the properties into working condition for their int¢nded use. Such costs include the labour costs of Association employe¢s arising directly from the acquisitlon or developrnent of the property and incremental costs that would only have been avoided if the propety concerned had not beett aquired or constructed.

Radius Housing Association Limited 27 Notes to the financial statements for the year ended 31 March 2023 Summary of significant accounting policies (continued) Housing Assoelation Grant and other grants Housing Association Grant and other grants received as a contribution towards the capital costs of housing properties of th¢ Association are shown as "Creditors.. amounts falling due after more than one year" and are amortised to the Statement of comprehensive income as per the turnover policy. Housing Assoctation Grant received against revenue expendxture is credited to Tevenu¢ in the period in which the related expenditure is charged. Such grants, although treated as a grant for accounting pU￿oSe$, may be repayable under certain circumstances, primarily following the sale of housing propety, but any amount repayable would be restricted to the net proceeds of the sale. Depreciation and Impairment Housing properties Housing properties are split between lan￿ structure and major components which require periodic replacement. Replacement or refurbishment of such major cO￿pONents is capitalised and depreciated over the estimated useful life which has been set taking into account piofessional guidance and the Group'5 asset Tnanagement strategy. In deterniining the remaining useful lives for the housing stock, the Gioup has taken accouut of views provided by both internal and external professional sources. Freehold land is not subject to depreciation. Depreciation is charged so as to write down the cost or valuation of the freehold housing properties and major components on a straight line basis over their expected use economic lives. Houstng assets are subject to a full year's depreciation in the year of acquisition or completion. Major components are treated as separable assets and depreciat¢d over their experted useful economic lives or the lives of the structure to which they relate, if shorter, at the following annual ranges= Main fabric Roof structure and ¢overings Windows and external doors Heating system boilers Kitchens Bathrooms Mechanical systems (heating, ventilatlon. plumbing) Electrics Lift Office buildings 100 years 60 years 30 years 15 years 20 years 25 years 10 years 30 years 20 years 60 years Long leasehold offiee property The Association's policy is to depreciate the cost over the remaining usethl economic life of the propety. The useful economi¢ life of the asset has been estimated at 60 years. Other fixed assets Depreciation of other fixed a55ets is charged on a straight-line basis over the estimated useful economic lives of the assets at the following annual rates.. Office and wmputer equipment 25010 per annum Subsequent addition5 and major Components The costs of subs¢quent additions or major component replacements are included in the assets carying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will continue to flow to the Group and the cost can be measur¢d reliably. The canying amount of any replac¢d component is der¢cognis¢d. Repairs, maintenance and minor inspection costs are ¢xp¢nsed as incurred.

Radius Housing Assoeiation Limited 28 Notes to the financial statements for the year ended 31 Mareh 2023 Summary of significant accounting policies (continued) Derecognition Tangkble assets are derecognised on disposa] or when no future economic benefits are expected. On disposal the difference betsveen the net disposal proceeds and the carryino amount is recognised in the Statement of comprehensive income. Leased assets At inception the Group assesses agreements that transfer the right to us¢ &ssets. The assessment considers whether the arrangement is, or contains. a lease based on the substance of the aTrangement. Stock Stocks are stated at the lower of cost and net realisable value. being the ¢stimat¢d selling price less costs to complete and sell. Cost is based on the cost of purchase or construction. At each reporting date, stocks are assessed for impairnient. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairnient loss is re¢ognised imm¢diately in the Statement of Comprehensive Income. Operating leased assets Leases that do not transfer all the Tisks and rewards of ownership are classified as operating leases. Payments undeT operating leases are charged to the Statement of comprehensÈve income on a straight-line basis over the period of the lease. Cash and cash equivalents Cash and cash equivalents illclude cash in hand, dep051ts held at call with banks, Other short-term highly liquid investments with original maturities of one month OT less and bank overdrafts. Bank overdrafts are shown within bO￿owingS ITh current liabilities. Current asset investments Current asset investments are investments in short-tern] deposits with an original maturity between one and twelve months. At each statement of ftnancial position date non-fmantial assets not carried at fair value are assessed to deterniine whether there is an indication that the asset {or asset's cash generating unlt) may be impaired. If there is such an indication the recoverable amount of the asset (or as5et'5 cash generating unit) is compared to tbe caTrying amount of the asset (or asset's cash generatÉnE unit}. The recoverable amount of the asset (or asset's cash generating unit) is the higher of the fair value less costs lo sell and value in use. Value in use is d¢fined &$ the present value of the future cash flows before interest and tax obtainable as a result of th¢ asset's (or asset's cash generating unit) continued use. These cash flows discounted usino a pre-tax discount rate that represents the current market risk-free rate ana the risks inherent in the assets. If the recoverable amount of the asset (or asset's cash generating unit) is estimated to be lower than the carrying amounL the carrying amount is reduced to Éts recoverable amount. An impairment loss is recognised in the Statement of Comprehensive income, unless the asset has been revalued wh¢n the amount is recognised in other comprehensive income to the extent of any previously recognised revaluation. Thereafter any excess is recognised in the Slatement of comprehensive income. If an impairment loss is subsequently reversed, the carrying amount of th¢ asset (or asset's cash generating unit} is increased to the revised estimate of its recoverable amount, but onty to the ¢xtent that the revised carying amount does not exteed the carrying amount that would have been deterniined (net of depreciation or omortisation) had no impaimient loss been recognised in prior periods. A reversa] of an tmpairnient loss is recognised in the Statement of comprehensive tncome. Provisions Provisions are recognised when the Association has a present legal or constructive obligation as a result of past events. it is probable that an outflow of resources will be required to settle the obligation. and the amount of the obligations can be estimated reliably. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is deterniined by considering the class of obligation5 as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Radius Housing Association Limited 29 Notes to the financial statements for the year ended 31 March 2023 Summary of signtfi¢ant accounting policies (continued) Provision5 (continued) Provisions are measured at the present value of the expenditures expected to be required to settle the obligation ustng a pre-tax rate that reflects current market assessments ol Ihe time value of money and the risks Specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost. Contingencies Contingent liabilities, arisÈng as a result of past events, are not recognised when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (li) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the Associations control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote. Financial instruments The Assooiation ha5 chosen to adopt Sections I l and 12 of FRS 102 in respect of financial instruments. Financial assets Basic fmancial assets, including trade and other receivables and cash and bank balances are initially Fecognised at transaction prlce, unless the arrangement constitutes a f￿ancing transaction, wheie the transaction is measured at the present value of the future Teceipts discounted at a market rate of intere51. Such ass¢ts ar¢ subsequently Ca￿led at arnortised cost using the effedive interest Enethod. At the end of each reporting period financial assets measured at amortised cost ar¢ assessed for objective evid¢n¢e of impairtnent. If an asset is impaired the impairment loss is the difference berween the carrying amount and the present value of the estimaied cash flows discount¢d at the asset's original effective interest rate. The impairment loss is recognised in Statement of Comprehensive Income. If there is a decrease in the impainnent loss arising from an event occurring after the impainnent was recognised, the impainnent is reversed. The reversal is such that th¢ Current carrying amoun¢ does not exceed what the carying amount would have been had the impairnient not prevfftously been recognised. Th¢ imp3irment reversal is recognis¢d in Slatsment of Comprehensive Income. Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, (b) substantially all the risks and rewards of the ownership of the asset are transferred lo another paty or. (c) despite having retained some 5ignifi¢ant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third paty without imposing additional restrictions. Other fEnancial assets, including investments in equity instruments which are not subsidiaries. associates or joint ventures, are initially measured at fair valu¢, which is nonnally the transaction price. Such assets are subsequently ¢￿Tled at fair value and the changes in fair value are reCo￿lS¢d in Statement of income and retained eamings, except that investments in equity instruments that are not publicly tt7ded and whose fair values cannot be ineasured reliably are m¢asured at cost less impainn¢nt. ii) Financial liabilitie5 Basic financial liabilities, including trade and other payables, bank loan5 and loans from f¢llow companies, are initially recognised at iTansaction pric¢, unl¢s5 the a￿angement constitutes a financing transaction, wher¢ the debt instrument is measured at the present value of the future receipts discounted at a mark¢t rate of interest. Debt instruments are subsequently carried at amortised rost, using the ¢ffective interest rate method. Fees paid on Ihe establishment of loan facililies ar¢ r¢cognis¢d as Irdn58ctÉon costs of the loan to the extent that it is probable that some or all the facility will be drawn down. In this ¢as¢, the fe¢ is def¢￿ed until the thaw-down occurs. To the exterlt there is no evidence that it is probable that some or all the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates. Trade payables are obligations to pay for goods or s¢rvices that have been acquired in the ordinary course of business from suppliers. Account5 payable are classified a5 rU￿ent liabilities if payment is due within one year or less. If not, they are PT¢sented as non-¢urrent liabiliti¢s. Trade payables are re¢ognis¢d initially at transaction and subs¢quently measured at atnortlsed cost using the effective inter¢st method.

Radius Housing Association Limited 30 Notes to the finaneial statements for the year ended 31 March 2023 Summary of significant accounting policies (continued) Disp0581 proceeds fund The net surplus¢s after loan Tepaym¢nls that arise from the sale of property to tenants under the voluntary purchase grant mngements instituted by the Department for Communittes can be used by the Association to fund works on property that would not be eligible for Housing Association Grant or in certain circumstances, attract loan finance. If the sury)luses ar¢ not used within three years of their receipt they may be payable in part or in full to the Departsnent for Communities. Revenue reserves The Association's policy is to retain a l¢v¢l of r¢v¢nue reserves which reflects its need5 at the C￿￿ent time and in the foreseeable fijture. The teserves required are sufficient to meet committed nmning costs for a period equivalent to twelve months budgeted future expenditure. IEasehold Sinking funds Leasehold sinking funds are reserve ￿ndS held for specific leasehold schemes which are set aside for major building repairs and replacement The sinking funds are held forthe benefit of th¢ leaseholders until such time as agreed expenses are incutred and allocated to these funds. Critical accounting judgements and estimation uncertainty Estimates and judgements made in the proces5 of preparing the Group financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. (a) Criti￿[ judgement in applyfing the entity's accounting polieies There are no critical judgements in applying the entity's accounting policies. (b) Critle21 aceounting estimates and assumptlODS The directors make estimate5 and assumptions concerning the future in the process of preparing the Group financial statements. The estimate5 and assutnptions tbat have a stgnificant risk of causlng a malerial adjustment to the carying amounts of assets and liabilities within the next financial year are addressed below. Critical accounting judgements and estimation uncertainty (continued) (r) Useful econdmic liv¢s ofhotts2ng and non-houstngproperties The annual depreciatlon on housing properties is sensitive to chanoes in the estimated useful economic lives and residual values of the assets. The useful economie lives and residual values are reviewed annually. They are amended when necessary to reflect C￿￿ent estimates. based on futUTe investments, economic utilisation and the physical condition of the a$￿ts. Se¢ note 15 for the carryKng amount of housing properties. and note 3 for the useful economic lives for ¢￿h component of housing property. (li) Defined benefxtpeKsion scheme The Association has an obligation to pay pension benefits to certain employees. The cost of these benefits and the present value of th¢ oblioation depend on a number of factors. including. life expettancy, salary increases, asset valuations and the discount rate on corporate bonds. Manaoement estimates ihese factors in deterniining the net pension obligation in the balance sheet. The assumption5 reflect historical experience and CU￿ettt trends. See note 36 for the dtsclosures relating to the defmed benefit scheme. There are no other critical accounting estimates and assumption5.

Radius Housing Association Limited 31 Notes to the financial statements for the year ended 31 March 2023 Turnover Turnover and results relate to the Group's maln activities which are carried out fftn Northern Ireland and the Republic of Ireland, Turnover represents rental and service charge income together with residential and daycare chartres for Housing with Car¢, all net of voids. It also includes income from Telecarerrelehealth services. services provided to other Housing AsS￿la110ns and Special Needs Management Allowance received for the provision of housing with care. Operating costs Group Associgtion 2023 2022 2023 2022 Direct costs 76,880,595 6J62,781 83,243J76 73,045,128 5,837,227 78,882,355 76,880,595 6.360,824 83,241,419 73,042,928 5,837,334 78,880,262 Administrative expenses Operating surplus Group Assoclation 2023 2022 2023 2022 This is stated after ehargingl(crediting): Staff costs (note 8) Depreciation (note 15. 16) HAG amortisation (note 27) Gainl{loss) on disposal of fixed assets Exceptional item- provision for onerous lease and impairment Fe¢5 payable to th¢ Association's auditor in r¢sp¢ct of audit s¢rvices Fees payable to the Association's auditor in respect of non- audit services Fees payable in respect of internal audit services 24.201,669 22,398,202 15,929,652 15,306,724 (11,986,741) (11.969247) (1,096,402) 64.579 24,201,669 22.398,202 15,929,652 15.306,724 (11,986,741) (11,969,247) (1,096,402) 64,579 25,000 25.000 58,130 57,500 51,630 57,500 28.500 28.500 45,755 28,631 45,755 28,631

Radius Housing Association Limited 32 Notes to the financial statements for the year ended 31 March 2023 Employee information Group Assoeimtion 2023 2022 2023 202? Staff eosts Wages and salaries Social security costs Other pension costs 19.964,951 ,769J99 2,467J19 24,201,669 18,500,361 1,510,287 2,387,554 ?2,398,202 19,964,951 1,769,399 2,467,319 24,201,669 18,500.361 1,510.287 2,387,554 22,398,202 2023 2022 Average monthly nutnber of ptrsolls employed during the financial year by activity: Administration and management Scheme co-ordinators and ancillary staff Care skff, cleaner5 and other support staff 334 324 216 233 339 317 889 874 Directors, Emoluments The remuneration of directOTS (defmed for the purposes of emoluments as the Chief Executive and any member of the Senior Manaoement Team of the Assockation) durÉng the year was.. Group Association 2023 2022 2023 2022 Aggregate emoluments Pension contributions 755,362 155,836 911,198 7?0,714 146.780 867,494 755J62 155,836 911,198 720,714 146,780 867,494 MembeTS of the Board of Management serve in a volunlary capaciry and none were in receipt of emoluments during the year. The Board and Committee meinbers were reimbursed for expenses totalling £2,085 during the year (2022 £559). The emoluments to the highest paid Director {¢urrently included within the above table) are as follows: Group Association 2023 2022 2023 2022 Aggregate emoluments Pension contributions 152,446 43,584 149,478 43,148 152,446 43,584 149,478 43,148 196,030 192,626 196,030 192,626

Radius Housing Association Limited 33 Notes to the financial statements for the year ended 31 Mareh 2023 Direetors, Emoluments (eontlnued) The number of directoiE to whom emoluments were paid durtng the year fall within each of the following bands.. Group Assoeiation 2023 2022 2023 2022 Salary Band: £150,000 - £155,000 £105,000- £110,000 £100,000- £105,000 £95,000- £100,000 £90,000 - £95.000 £85,000- £90,000 10 Transfer to disposal proceeds fund Group Association 2023 2022 2023 2022 Opening Balance Transfer of Grant on Disposal Transfer from disposal fund Transfer ro HAG reserve 5,117,937 7,849,843 (1,336,751 } 2,058,129 3,671,7L? (330,592) (117,492) (163,830) 5,117,937 5,117,937 7,849,843 (1,336,751) 2,058.129 3,671,722 (330,592) (117,492) (163,830) 5,117.937 Purchases in the year Closing balance (6,315,809) 5,315,220 (6J15,809) 5J15,220 Represented by= Due within olle year (note 23) Due after more than one year (note ?4) 1.653.568 3,4fv1,369 1,653,568 3,464,369 5J15,220 5,315220 5,315220 5,117.937 5,315,220 5,117,937 I I Interest receivable and similar income Group Association 2023 2022 2023 2022 Interest receivable 127,657 8,062 127,657 8,062 12 Interest payable and similar charges Group A5S0ClgtioD 2023 2022 2023 2022 Housino property koans 8,439,665 8,542,691 8,439,665 ,542,691

Radius Hollsing Association Limited Notes to the financial statements for the year ended 31 March 2023 13 Net pension incomel{charg¢) Group A550eiatioll 2023 2022 2023 2022 Defined benefit pension scheme net interest incomel(charge) (note 36) 2,602,947 (511) 2,602,947 (511) 14 Taxation on profit on ordinary activities Group 2023 Associatio 20?2 2023 2022 UK corporation tax charge on profit for the year 15 Housing properties - depreciated cost Group Associatio 2023 2022 2023 2022 Cost At l April Addition5 J,I10,069,671 58,750,577 {304,832) (10,514,102) 1,15&001,314 1,076,262,353 41.410.786 (906,199) (6,697,269) ,110,069,671 1,110.069,671 58,750,577 (304,832) (10,514,102) ,15&001,314 1,076,262.353 41,410,786 (906,199) (6,697,269) 1,110.069,671 Transfer to stock Disposals At 31 Marth Depreei8tion At l Aprtl Charge for the year Impaiment for the year Disposals At 31 March 219,438,832 15.296,964 207.619,520 14,839,369 219,438,832 J5,296.964 207,619,520 14,839,369 (3,627,609) 231,108,187 (3,020,057) 219,438.832 (3.627.609) 231,108,187 (3,020,057) 219.438.832 Net book value At 31 March 926,893,127 890,630,839 926093,127 890,630,839 Net book amount Comprises: Freehold property Long leasehold property 877,684,162 49,208,965 926,893,127 840.518.941 50,111,898 890,630,839 877,684,162 49,208,965 926,893,127 840,518,941 50,111.898 890,630,839 Completed schemes Properties under construction 823,060,024 103,833,103 926,893,127 800,437,501 90.193.338 890,630,839 823,060,024 103,833,103 926,893,127 800,437,501 90,193,338 890,630,839

Radius Housing Association Limited 35 Notes to the financial statements for the year ended 31 March 2023 15 Housing properties- depreciated cost (continued) The group considers individual schemes to be separate Cash Generating Units (CGU'S) when assessing for impairnient, in accordance with the requirements of FRS 102. The recoverable amount is taken to be IELe higher of the fair value less costs to sell or the value in use of an asset or CGU. In Making th¢ assessment of the rccoverable amount, the group considers that value in use which takes into account the service potential of th¢ CGUS is appropriate. Where value in use- service potential is to be detemined, the calculation of Depreciated Replacement Cost (DRC) is considered to be suitable. Based on this assessment, we calculated the DRC using approprtate construction costs and land prices of each housing property scheme. In these circumstsnces we consider the DRC to be the recoverable amount. Where the carrying amount is greater than the recoverable amount, an impairment loss of the difference between the two is taken to the income and expenditure ac¢ount and a CO￿¢SpOndIng enty is made ID reduce the carrying value of the asset. There was no impaimient charged in the 31 March 2023 year end (2022 - £Nil). 16 Other tangible fixed assets Office and computer equipment Long leasehold office property Group 2nd Assoeiation Total Cost At l April AdditÉon5 13,492,244 975,749 3.067,591 589,950 (80,320) 3,577,221 16,559,835 ,565.699 (80,320) 18,045,214 Disposals At 31 March 14,467,993 Depr¢¢iation At l April Charge for the year Eliminated On Disposals At 31 March 5,336,962 257,915 2,330,286 374,773 (80.320) 2,624,739 7.667,248 632,688 (80,320) 8219,616 5,594,877 Net book amount At 31 March 2023 8,873,116 952.482 9,825,598 At 31 March 2022 8.155,282 737,305 8,892,587 17 1JAvestments Group 2023 Association 2022 2023 2022 At l April Additionsl{disposals) A131 March 3,024,195 961.786 3,985,981 3,205,078 (180.883) 3,024,195 8,086,765 968,031 9,054,796 3.200,828 4,885.937 8.086,765 Group investments include ground rent investment of £4,250. Association investments relate to THFC sinking funds and an investment in one of its subsidiaries. Tealstone Developments Limited. to acquire land for development.

Radius Housing Association Limited 36 Notes to the financial statements for the year ended 31 March 2023 18 Investment in subsidiary undertakings - Association Cost At 31 March 2022 and 2023 250,004 Investments in subsidiary undertakings are recorded at cost, which is the fair value of the consideration paid. The Asgocialion's subsidiary undertakings, which are incorporated in Northern Ireland, are: ame ofcompany Holding Proportion held Registered Offite Principal Aetivity Tealstone Developments Limited Ordinary shares IOOO/o 3-7 Redburn Square Holywood BT18 9HZ Development of land 3-7 Redburn Square Holywood BT18 9HZ Radius Hom¢s Limited Ordtnary shares House building services 19 Stock Group 2023 Association 2022 2023 2022 Consumables 165,907 3,989.413 5.080,990 222,540 4,002,501 5.066.820 165,907 3,989,413 222.540 4,002,501 New hornes for outright sale Development land 9,236,310 9.291,861 4,155,320 4,225,041 Stock represents both completed properties and properties under construction for olltright sale. Stock is valued at the lower of cost and net realisable value. Cost includes acquisition and development costs together with capitalised interest. Net realisable value is based on the estimated selling Price less selling c05t5. 20 Debtors Group 2023 Association 2022 2023 2022 Rental Debtors Gross- Technical 3,038,539 2,200,321 (1,446,514) 3,792,346 2,494,864 1.806.625 (1,191,742) 3,109,747 3,038,539 22OOJ21 (1,446,514) 3,792,346 2,494.8&1 1,806,625 (1,191,742) 3.109.747 Rental Debtors Gross- Non-technical Provision for bad debts Net rental {including rales, service charges) debtors Trade debtors 542,891 448,095 541,536 756,508 1,799,418 1,087,970 15,425,370 448.095 381,279 2,124,388 963,658 5.373.638 Amounts due from subsidiaries (note 40) Other debtors 2284,403 ,087,970 15,425J70 2,592,514 963,658 5.373,638 Prepayments and accrned income Housing Association Grant receivable 23,132,980 12,487.652 23,403,148 12,400.805 Amounts owed by related undertaking5 are interest fre¢ unsecured and repayable on demand.

Radius Housing Association Limited 37 Notes to the financial statements for the year ended 31 March 2023 21 Investments Group Association 2023 2022 2023 2022 Short tenn deposits 269,325 267,338 269325 267,338 This represents cash held on deposit with an original maturity between l and 12 months. At the year end the average Maturity of the deposits was 3 months. The average interest rate was 0.740/0 (2022 - 0.50/0). 22 Cash at bank and in hand Group As$oeiation 2023 2022 2023 2022 Cash at bank 10,104,548 26,981.779 9J23,792 26,057,587 None of the cash at bank is restricted, 23 Creditors: amounts falling due within one year Group 2023 Association 2022 2023 2022 Bank loans & senior notes (note 26} DFC loans (note 26) THFC premium Other tax and social security Rent, rates and service charges received in advance Housing Association Grant in advance Other creditois 3,775.187 40,230 111,629 156,619 1,576,203 8,493,465 9.127,464 3,885,454 104,253 110,816 211,407 1,514,192 3,252,942 5,749.914 1.653.568 10,773,909 3,775,187 40,230 111,629 156,61 9 1,576,203 8,493,465 5,090,463 3,885.454 104.253 110,816 211,407 1,514.192 3,252,942 3,514,618 ,653,568 10,773,909 1,926,861 11,435,176 805,710 39.188,906 Disposal Proceeds Fund (note 10) Ac¢nta15 and d¢f¢rr¢d income JO,232,772 10232,772 4,22] J37 11,284,702 252,495 45,235,102 Amounts owed to subsidiaries (note 40) Housing Association Grant (note 27) Tenant services account 11284,702 252,495 45,050,706 11,435,176 805,710 39,497,341 Amounts owed to r¢lated parties and subsidiary undertakings are interest free, unsecured and repayable on demand.

Radius Housing Association Limited 38 Notes to the financial statements for the year ended 31 March 2023 24 Creditor5: amounts falling due after more than one year Group 2023 Association 2022 2023 2022 Bank loans & senior notes (Note 26) DFC loans (note 26) THFC premium Disposal proceeds fund (note 10) Houstng Association Grant (note 27) Fair value of financial instruments Other CTeditors 197,801,008 2,765 2,031,637 5alS,219 566,101,879 123.888 4J93,746 775,770,142 201,972,779 42,983 2,105,113 3,464,369 541,554,838 323,767 3,099,168 752.563,017 197,801.008 2,765 2,031,637 5,315,219 566,101,879 123,888 4,393,746 775,770,142 201,972,779 43,983 2,105,113 3,464,369 541.554,838 323,767 3,099,168 752,563,017 The disposals proeeeds fund consists of montes arising from house sales, less allowable cost5 and rontribulions. from which transfers to Housing Association Grant (HAG) arising from qualifying expenditure may be made with D¢partmental consent, generally within 3 years of the monies being transferr¢d into tlie fund. 25 Financial illstruments The Group and Association has the following financial in5trutnents: Group 2023 Association 2022 2023 2022 Financial assets that arc debt instruments measured at amortised cost Rental debtr)r (note 20) Other debtors (note 20) Avnounts owed by subsidiaries {note 40) Housing Association Grant receivable (note 20) Investments in long tenn deposits (note 17) Investments in short terni deposits (note 21) Cash at bank and in hand (note 22) 3,792J46 3,915,264 3.109,747 4,004,267 3,792,346 3,42&924 7S6.$08 15,425,370 9,054,796 269025 9,323,792 42,051,061 3,109,747 3,536.141 381.279 5,373,638 8.086,765 267,338 26,057,587 46,812,495 15,42S370 3,985,981 269,325 10,104,548 37.492,834 5,373.638 3,024,195 267.338 26,981,779 42,760,964 Fill¥dncial liabilities measured at amortised cost Dfc loans {note 26) Bank loans & senior notes (note 26) Oth¢r creditors (note 23 & 24) Accruals and deferred income (note 23) Amounts owed to subsidiaries (note 40) 42,995 201,576,195 13,521,210 10,232,772 147.236 205,858233 8,849,082 10,773,909 42,995 201,576,195 9,484,209 10,232.772 4,221,337 225,557,508 147,236 205,858233 6,613,786 10,773,909 1,926,861 225,320.025 225J73,172 225,628,460 Financial liabilities measured at fair vaIue through oth¢r comprehensive income Derivative fmancial instNment (note 24) 123,888 123,888 323,767 323,767 123,888 123,888 323,767 323,767 Financial assets and liabilities measured at fair value through other comprehensive incorne are made up of derivative fmancial instruments. In accordance with Éhe group's policy on h¢dging, interest rat¢ exposure is mitigated by entering inio interest rate swaps. It is not possible io ascertain the amount of the f￿anCial instrwnent that will rev¢rse within one year and as such it has been presented m the financial statements as non-current.

Radius Housing Association Limited 39 Notes to the financlal statements for the year ended 31 March 2023 26 Loans Group Association 2023 2022 2023 2022 Bank loans Less than one year, or on demand Between one and two years Behveen two and five years After more than five years Senior notes 3,775,187 11,954,859 10,164,579 71,739,483 3.885,454 11,965,307 10,953.841 75,154,501 3,775,187 11,954,859 10,164.579 71,739,483 3,885,454 11,965,307 10,953,841 75,154.501 After more than five years 103,942,087 201,576,195 103,899,130 205,858,233 103,942,087 103,899,1 JO 201,576,195 205,858,233 Represented by.. Due wtthin one year {not¢ 23} Due after more than one year (note 24) 3,775.187 197,801.008 201,576,195 3,885,454 201.972.779 205.858.233 3,775,187 3,885,454 197,801,008 201.972,779 201,576,195 ?05,858,233 Bank and other loans A loan of £17m repayable in five equal instalments annually from 2039 to 2043 and until then interest at a fixed coupon rate of 5.20h (4.5 /0 effective rate) is payable annually. A loan of £20m repayable in four equal instalments annually from 2007 to 2035 and until then interest at a fixed coupon Tate of 5 970/0-6.020/0 is payable annually. A loan of £20m repayable in four equal instalments annually from 2007 to 2035 and until then interest at a fued coupon rate of 6.140/0-6.170/0 is payable annually_ A loan of £ lom repayable in full in a sinole instalment of £IOm in 2039 and until then interest at a fixed coupon rate of 6.350/0 (6.070/0 effective rate) is payable annually. A loan of £5m repayable in fijll in a single instalment of £5m in 2032 and until then interest at a fixed coupoll rate of 4,510/0 IS payable annually. A loan of £ l Om repayable in full in a single instalment in 2044 and until then only interest at a fixed coupon rat¢ of 5.20/¢ (4.90/c¢ effective rate) is payable half-yearly. All remaining loans bear interest at rates ranging between 0.901J/o and 6.070/0 at fixed and variable rates, except for loans of £8m on which interest only is repayable half-yearly and the capital in a single instalment in 2031. Bank loans are repayable on an amortised basis over varying periods b¢twe¢n 20 and 25 yea￿. All bank loans are secured by way of mortgages upon the deeds of properties. Senior notes A senior secured note is repayable in full in a SRngle payment in 2035 and until then interest at a fixed coupon of 2.370/0 is payable semi-annually. A senior secur¢d note is repayable in full in a single payment in 2050 and until then interest at a fixed coupon of 2.81 Yo is payable semi-annually. A senior secured note is r¢payable in full in a single payment in 2055 and until then int¢Test at fixed roupon of 2.87 % is payable semi-annually. These notes are secured by way of a mortgage upon the deeds of various properties. The figures included in the note above are net of debt Issue costs of £1,057,913 (2022.. £1.100.870) that will b¢ rel¢as¢d to the stat¢ment of comprehensive income oveT the life of the varioug notes.

Radius Housing Association Limited 40 Notes to the financial statements for the year ended 31 March 2023 26 Loans (continued) Department for Comm unities loans Group Association 2023 2022 2023 2022 Departm¢nt for Communities Less than one year (note 23) Between one and two years (note 24) 40,230 2.765 104,253 42,983 40,230 2,765 104,253 42,983 42,995 147,236 42,995 147,236 The loans from the Dq)artment for Communities bear interest rates ranging between 9.50/0 and Is.25￿/0 at fixed rates at)d are repayabl¢ on an amortised basis (capital and interest}. All Dfc loans are secured by way of mortgages upon the deeds of Radius properti¢s. 27 Housing Association GraDt Group and Association 2023 2022 Houslng Assoclation and other grant5 At l April Additions 750,258,575 45,598,806 744,759.061 10,537,007 Movement on HAG in advance {5335,738) (5,130J41) 785,491J02 (2.087.773) (2,949,720) 750,258,575 Di5POsals At 31 March Amortlsation At E April Charge for the year Disposals At 31 March 197,268,561 11,986,741 (1,150,581) 208,104,721 186,039.178 11,969.247 (739.864) 197,268,561 Net book value At31 March 577.386.581 552,990,014 Repre$ented by: Due within on¢ year (note 23) Due after more than one year (note 24) 11,284,702 566,101,879 577J86,581 11,435,176 541,554,838 552,990,014

Radius Housing Association Limited 41 Notes to the financial statements for the year ended 31 March 2023 28 Called up share capital Group 2023 Assoeiation 2022 2023 2022 Ordinary shares of£i each, fully paid At l April Allotted during the year Transfer to capital reserve At 31 March 26 25 26 25 (i) 26 (i) 26 (i) 26 {1) 26 29 Capital reserve Group 2023 Association 2022 2023 2022 At l April Transfer from share capital At 31 March 273 272 273 272 274 273 274 273 30 Net cash inflow from operating activities - Group 2023 2022 Operaling surplus Exceptional items Difference between pension charoe and cash contrlbutions Depreciation charge Amortisation of Housing Association Grant {Gain)Iloss on disposal of tangible fixed asset5 Movement in debtor5 13,824J54 15,280,381 (25,000) (1,669,000) (1.639,000) 15,929,652 15,466,291 (11.986,741) (11,969247) {1,096,402> 64.579 (639,006) (549,703) (1,449,189) (1,346.477) 55.551 {2,790,921) 12,969219 12,490.903 Movement in rr¢ditors Movement in stock Net eash inflow from operating aetivities

Radius Housing Association Limited 42 Notes to the financi21 statements for the year ended 31 March 2023 31 Analysis of net debt - Group l Aprtl 2022 Cash flow and non cash movements 3J March 2023 Cash at bank and in hand 26,981.779 267,338 27,249,117 (3.989,707) (202,015,762) (206.005,469) (178.756,352) (16,877.231) 1,987 (16,875.244) 174.290 4,211,989 4,386,279 (12,488,965) 10,104,548 269J25 10?73,873 (3,815,417) (197,803,773) (201,619,190) (191,245,317) Short terni investments Cash and cash equivalents Debt due within one year Debt due after one year Debt Net Debt 32 Reconciliation of net cash flow to movemenl in net debt 2023 2022 Increase in cash and cash equivalents in flnancial year Repayment of loans Movement in net debt in the fmancial year Net debt at l April Net debt at 31 March (16,875,244) 4,38A279 (12,488,965) {15.728,097) 3,958,021 (11,770,076) {178,756J52) (166,986,276) {191245a17) (178,756,352) 33 Housing Stock - Association Number of units owned on 31 March 2023 2022 Generdl needs housing Sheltered 8,929 3,321 1,199 13,449 8,823 3,322 1,199 13,344 Supported housing (including housints with Care) Total owned Number ofunits managed by (but not owned) on 31 March Sheltered 82 G¢neral Needs 26 19 108 103 Total units owned and managed at 31 March 2023 13,557 13,447

Radius Housing Association Limited Notes to the financial statements for the year ended 31 March 2023 34 Turnover, operating costs and operating surplus - Association Turnover, operating costs and operatiog surplus 2023 2022 Operating Turnover Operatillg Costs Operating Surplus Operating Turnover Operating Costs Operatino Surplus Social Housing Activities (note 35) Non-social Housing Activities note 35 Tot81 90.735,954 78,106,485 12,629,469 86,462,910 70,704,958 15,757,952 6J29,576 5,134,934 1,194642 7,697,625 8,175,304 {477,679) 97,065,530 83,241,419 13,824,111 94.160,535 78.880,262 15,280,273

LY) Di In en c4 in D4 c¢ ¥C O ery * r n cr In In yry vry r4 C* r4 ery J rry ty) ￿ ery eo

00 omm Iii" ¢¢ ) ￿ Y) p IYJ oo f-- Q tr4 tr- Q rtj t-4 VJ r-4

Radius Housing AssocRation Limited 46 Notes to the financial statements for the year ended 31 March 2023 35 Turnover, operating costs and operating surplus or deficit from social and non-social housing activitie5 - Association (continued) Non-soeial Housing Activities 2023 ?02? Operating income Connect 24 Development Allowances Affordable Home Sales Staying Put (Supporting P¢ople) Stayints Put Other Incom¢ Care ServÈces Other Income 2,818,641 1,888,805 i49,900 413,351 l.i29 ?89.271 568,079 6 J29,576 2,664,660 176,057 J,772,000 384,607 33.663 258.141 408.497 7,697,625 Total non-social housing income Operating costs Connect 24 costs Development Affordable Home Sales Administration costs Slayincr Put (Supporting People) Care services Deprectalion of non-social housing assets Other costs 2,287.276 1,196,119 325,756 432,OJ I 279.180 355.554 259,018 2.114,176 1,177.293 3.446,149 471,343 254.830 357,010 353,69? 811 Total non-soeial houslng expenditure Operating surplu51(defJcit) on non-soci81 housing 5,134,934 1,194,642 8,175,)04 (477,679) 36 Pension commitments The net pension suwlus shown below under section 28 of FRS 102 deals with the accounting for employee benefits does rLOt represent a shortfall which requires short tenn cash funding. The amount shown below is calculated to comply with the Financial Reporting Standard. tlie specifxc requirements of which dtffer from the basi5 on which pensioii liabiltties are actuarially calculated for the purpose of the on<voino fiinding of the scheme. The Financial Reporting Standard requires.. (i) actuarial deficiencies to be recognised immediately as a liability in the financial stateinents ratlier than being spread forward over employees, remaining service lives; and the actuary. in valuino the scheme's liabilities, is r¢quired to use a bond yield as the discount Tate for valuincr fLEture liabilities, rather than a rate that reflects the ¢xp¢cfrd retum on the scherne's paiticular ass¢t portfolio. with the result of an apparent increase itj the present value of future longer terni liabilities. The below is in relation to employees and ex-employees who are members of the NILGOSC and SHPS ￿nSIOn scheme. NILGOSC pension scheme is considered a related party of the Associatton. The mosl. recent valuation was conducted as al 31 March 2023 by a qualified actuary for the pU￿oSe of the disclosures below.

Radius Housing Association Limited 47 Notes to the financial statements for the year ended 31 March 2023 36 Pension commitments (continued) The major assumptions used by th¢ actuary W¢Te'. 2023 2022 2021 2020 Rate of increase in salaries 3.00•/ 2.519/0 Rate of increase in pensions in payment Discourjt rate 2.70ts/0 3.000/0 2.80% 2.000/0 2.70Yo 2.3011 The mortality assumptions used were as follows: 2023 Years 2022 Years 2021 Years 2020 Yea Longevity at age 65 for CULTent pensioners.. -men 21.2 21.8 21.9 21.8 - Women 25.0 25.0 25.1 25.0 Longevity at ag¢ 45 for fuWre pensioners". -men 23.2 23.2 23.3 23.2 - Women 26.0 26.4 26.5 26.4 The assets in the scheFne were 2023 £'ooo 38,081 10,663 19,612 2,856 12,662 6,188 5,141 2022 £'ooo 44.495 10,372 25,618 2,282 13,587 4,149 3,215 Equities Property Government Bonds Corporate Bonds Multi A55et Credit Cash Other Totgl market value of assets Present value of scheme liabiliues 95,21J3 103,718 (69J53) (98,417) {25,850) (5,301) Unrealised a55¢t Net pension surplus Reconciliation of fair value of scheme assets 2023 2022 £?000 £'ooo At l April Interest income on assets 103,718 2,829 {13,460) 3,514 402 93,889 1,950 5,448 3,464 397 Remeasurement (losses)Igains on assets Employer contributions Member contributtons Benefits paid At 31 March {1,800} 95,203 (1.430) 103,718

Radius Housing Association Limited 48 Notes to the financial statements for the year ended 31 March 2023 36 Pension commitments (coTrtlnu￿) Reconciliation of present value of scheme liabilities 2023 2022 £'ooo £'ooo At l April Current service cost 98,417 2,768 2,639 402 104,643 3,275 2,135 397 Interest expense on defined benefit obligation Contributions by participants Actuarial {gain5ylosses on liabilities Net benefits paid out At 31 March (33,073) (1,800) 69,353 (10,603) (1,430) 98,417 Analysis of the amount charged to ineome or expenditure Are as follows: 2023 2022 £'ooo £'ooo Current service cost 2,768 3,275 Curtailment cost Net interest cost 47 185 2,815 3,460 Actuarial losses and gains The total amount of actuarial gainsllosses recognised in other comprehensive income is a loss of £2,605,000 {2022.' gain of £10,754,000). Amounts for current and previous three years: 2023 2022 2021 2020 £'ooo £'ooo £'ooo £'ooo Scheme liabilities {69,353) 95203 25,850 (98,417) 103,718 5.301 {104,643) 93,889 (10,754) (85,160) 74.621 {10,539) Scheme assets Surplus J (defEcit) The surplus arising in 2023 and 2022 has not been recognised in accordance with the Scheme rules. 37 Contingent liabilities The accumulated amount of Housing Association Grant amortised and released to res¢rves a5 at 31 Marrh 2023 was £208,104,721 (2022 - £197,268,561). Th¢ possibility of any r¢imburs¢m¢nt to the Department for Communities is considered to be unlikely as the housing properties are ¢xp¢cted to continue to be made available for social housing for the foreseeable future. 38 Capital commitments - Housing Properties - Group 2023 2022 Contracted for but not provided in the financial statements 64,276,645 37,091,075 The Group anticipates that this expenditure will be funded by a cornbination of Housing Associatjon Grani from the Department for Communities and private finance. both external and internal.

Radius Housing Association Limited 49 Notes to the financial statements for the year ended 31 March 2023 39 Operatlng lease commitments At 31 March 2023 the Association had the following future minimum lease payments under a non-cancellable operating lease for motor vehicles for each of the following periods.. 2023 2022 Within one year Between Iwo to five years 67,744 43,166 26,433 79,298 40 Related party transactions The company has taken advantage of the exemption contained in Paragrapb 33. IA of FRS102 not to disclose any transactions with its subsidiary undertakings on the grounds that they are all IOOQ/o subsidiaries and these are consolidated fmancial statements. The company 15 also an athnitted body to the Northern Ireland. Local Government Officers, Superannuation Commkttee (NILGOSC) and makes contributions on behalf of those of its en]ployee5 who are in the scheme. Details of the subsidiaries are disclosed in Note 18.