ARK HOUSING ASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
ATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2026
2026
2025
Note
Turnover
Operatlng costs
OpeTating Siirplu5
Interest receivable and similar income
Interestpayable and similar charges
Other finance costs
Additional Pension Seryite Costs
Surplu5 Qn ordinary activities
Actuar&al IlossJ/g31n on pensLOn scheme
Total comprehensive income for the year
8,466.130
6,389,821
2.076,309
22.215
[1.486,653)
6.OOD
112,000
729,871
L118,000)_
611.871
8.014.780
5,893,153L
2,121,627
19,070
(1.153.539)
6.000
20.000
1,013,158
26,000
987,158
15
15
All amounts above relate to contlnulng operatlons.
There is no material difference between the SUTplus for the year end and their historical cost equivalent.
21

ARK HOUSING ASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL RF,PORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
STATEMENT OF CHANGES IN RESERVES FOR THE YEAR ENDED 31 MARCH 2026
2026
2025
Note
Surplus forthe financial year
Artuarial [lossl/gain ora pension scheme
Issued share capital in year
Net changes in capitsl and reservè
Opening restrlL*ed reserve
Movement in Restricted Reserves in year
Opening revenue re5Erve
Openlng Capital
Closing total capital and re5erve5
729,871
(118,000)
1.013.158
(26,OOOJ
15
16
611,874
27,968
(32.023)
9,788,797
53
10,396,669
987.159
56.979
144,482)
8,817,110
52
9.816,818
16,17
22

ARK HOUSING ASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL RF,PORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH Z026
STATEMENT OF FINANCIAL POSITION AS AT 31 MAiiCH 2026
2026
2025
FIXED ASSETS
Houslng properties- deprecfiated cost
Other tsngs'ble fixed assets
Note
133,702,677
746,783
134.449,460
117,67R,046
803,080
118,481.126
NON CURRENT ASSETS
PensiDn
15
CURRENT ASSETS
DebtOFS
Cash at bank and in hand
io
4,892,739
516,186
5,408,92S
3,034,095
3,866,737
6,900,832
Creditors: amounts falling due wlthln one year
li
[10,552,773]
(12,728.269)
Net Current tLiabilities}/A5sets
Total Assets Less Current Llabllities
S.143,848
129,305.612
[5,827.437)
112.653,689
CREDITORS: amounts falling due after more
than one year
Creditors
12
118.908,943
lj8,906,943
11O2,U36,871)
[102.836,871]
NET ASSETS
10,396.669
9￿16,818
Capital and Reserves
Called up share capit31
Capital reserve
ResrrScted reserves
Revenue reserve
16
17
19
18
io
46
(4,055]
10.400,668
io
43
27.968
9,788,797
TOTAL FUNDS
10.396,669
9.816,818
An undrdwn RevolvinE CreditFacility balance of £15m Is In place.
The finanaal statements on pages 21 to 41 were approved by the Board of Management Dn 29 lune 2026 and were
signed on its behalf by:
Chalr ofthe Board of Management
MrTomD
Board Member
Mr lan McAvoy
Company Secretary
Mr James Mcshane
cirf
23

ARK HOUSING ASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
srATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2026
2026
2025
Note
Net cash generated from opcrdting artlvities
23
3,003,145
2,683,838
Cash flow from ITr)vesting activiti
Purchase ofhousing properties
Purchase of other fixed assets
Capital grants received
[16.354,528)
[37,2841
6,288.503
10,103.309
[13,310,198)
[26.979)
7,546,846
[5,790.331)
Cash flow from financlng aetlvities
Loan principal repayments
an [repayments)/advances received
Shares
Repayment of Restrieted Reberves to NIHE
Interest Paid
Interest Received
Net C3sh frorn financing activities
Net increase/{decreaseJ in cash
Cash and cash equivalents at the beginning of the year
Cash and cash equlvalents at the end of the year
(557,984)
S,800.000
(427,9531
6,700,000
(27.968)
[1,486.653)
22.215
3,749,613
{3,350.551)
3.866.737
J16.186
(44,482)
[1,153,539)
19,070
5,093,096
1.986.603
1,8110,134
3,866,737

ARK HOUSING ASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL REPORT AND FINANCIAI. STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
AccountingPolicies
Basis ofAccountfjng
The flnancial statements have been prepaTed on the historical cost basis and in compliance with
FRS 102, The FinaDcI(Il Reporting Standard applicable in the UK and the Housing SORP 2018=
Statement of Recommended Practice forsocial Housivjg Providers.
The finanaal 5tate]nents are prepared in sterlin& which is the functional currency ol the eTLtity.
Monetary amounts are rounded to the nearest £.
The Assoclatlon Is a company limited by shares incorporated In Northern Ireland. The registered
office is sitsated at Unit I, Hawthorn Office Park, 43 Stockmans Way, Belfast, BT9 7ET.
Turnover
Turnover represents rental income, service charges receivable net of voids and the rele2se of
capltal grants and is recognised fin the period to which it relates.
Other Tangible Ftxed Assets and Depreclatlon
Tangible fixed assets are stated at cost less accumulated depreciatLOtL. Depreciatlon is charged on
a straight-line basis over the experted useful economic lives of the assets at the following annual
rates.. Furniture and equipment 10%- 33.3%.
Depreclatlun is charged on a straight.line basis for the new office over 30 years.
Housing Propertie5
Houslng properties are stated at cost less accumulated depreciation. Cost includ*.5 the c05t of
acquiring land and buildings, development costs and expenditure Incurred in respect of
ImpruveEnents.All development costs directlyattributableto bringingproperties into management
are idenLified and capitalised to schemes in constructitrn during the yeÉlr.
Expenditure improvements to existitlg propertie5, which enhances the economic benefits of the
pi'operty or extends its useful life, is capitalised as part of the c05t tkf the property. Other
maintenance expenditure is written off to the Income and Expenditure Account as it is incurred.
Depreclatlon is charged on a straight-line ba5L5 over varyivkg timescales, depcnding on the
estimated useful life of the individual components. The major components and their estimated
useful lives are listed below. Depreciation charged in the accounts is based on propertie5 iti
management on the 1st April each year.
Land
Structure (induding roofj
KitL-hen
Bathroom
Heating boiler
Heating system
Windows and doors
Electrics
Not depreciated
100 years
20 years
25 years
10/15 years
30 years
35 years
35 years
Where there Is evidence of impalnnent, the fixed assets are written down to the recoverable amount
and any write down charged to operating surplus.
25

ARKHOUSING ASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL REPORT AND FINANaAL ffATEMENTS FOR THE YEAR ENDED 31 MARCH Z026
NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 (CONfDJ
Accounting Policie$ [ConVd}
Impaiment of r￿ed assets
At each reporting perlod end date. the company reviews the carrying amounts ofits tsnglble assets
to determine whether there is any Indlcation that those assets have suffered an impa1r￿entI0S5. If
atly such iiidicalion exists, therecoverable amountoftheasset15e5timated ii) ordcrtodctern)ine the
extent of the impairment loss (ilany). Where it is not Possible to estimate the recoverable aniounl
of an individual asset, the company estimates the recoverable amountoftbe cash-generating unitto
which the asset belongs. Recoverable amount isthe higher of fair value le55 Costs to sell and valuein
Use.In assessingvalue in use, the estimated future casb flows are discounted to their presentvalue
U5Ing a pre-taxdiscountratethatreflects currentmarkctasscssments ofthetimevalueofmnneyand
the risks. &peafictothe asset forwhich the estimates of future cash flows havc not been adlu5ted.
If the recoverable amount of an asset (or cash-generating unit] is estlmated to be less than its
carrying amount. the carrying amount of the assel (or cash-generating unit) is reduced to its
recoverable amounL An impairment loss is recognised Immediately in profit loss. unless the
relevant asset is carried at a revalued amount. in which case the irnpairnient losg Is treated as a
revaluatlon decrease.
HousingA5sociation Grant
Grant received for property has been included under longter]n liabilities and is amortised over the
estimated useful life of the component to which it relates on the same basi5 as the depre¢i3tion
charge listed above und2r the accruals modcl. Such grants may be repayable under certain
drcutnstances. primarily following the sale of housing propcrty, buc any amount repayable would
be restrirted to the net proceeds of thesale.
Restricted Reserves
The Association sets aside money ￿lSed for a Specific purpose into a restrirted reserve.
Retlrement Beneflts
The knsociation participate5 in the NILGOSC defined benefit pension scheme. The underlying
assets and liabilities of the schetne attributable to the As50ciatiOVL are held separately from thtrse
of the Association. Pension scheme liabilities are measured on an actuarial basis using a projected
unit method and arc discounted to their present value. Assets are measured at market value at
the b31ance sheet date. As a resulL the Association cither recognises the scheme deficit on the
bal<inLe sheet at the year end, or in the case of an asset position, docs not rccognise thi5 on the
balance sheet,onthe grounds of prudence. Actuarial galn5 and losses are included in the statcm¢nt
of comprehenssve income. Current and past Se￿iCe costs. curtailments and settlements are
recognised within operating surplus. Return5 ofl 5cILeme asset5 and interest on obligations are
recognised as other finance costs.
Dispo$al Proceeds Fund
SuTpluses from disposal of housing properties, including the Voluntary Purchase Grant, are
transferred to the Disposal Proceeds Fund. The association is required to apply these surpluses
within a specified period to housing projects as Recycled Hou5Ang Association GranL
1.10 Tenants. Servlce5 Fund
For certaiTh schemes the Association is requlred to charge the tenants for additlonal services
provided, over and above those of the normal management and maintenance services. The
Association levies an addltional charge to the tenants Fur thi& Annual surpluses are transferred
to a fund to equalise the financial position over a period of time and dèficlts are written off In the
yearin which theyoc£ur.
26

ARK HOUSING ASSOCIATION NORTHERN JRELAND LIMITED
ANNUAL REPORT AND FINANCIAI. STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
NOT&5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 {CONT'D)
Accountlng Policies[ConYd)
i.ii
EmployeeBenefits
The costs of short.term employee beiiefits are reeognised as a liability and an expense unle55 those
costs are required to be recognised as part of thc cost of stock or fixed assets. The cost of any unused
holiday entitlement is recognised in the period in which the employee's 5eryices are received.
Terniinaknon benefit5 are recognised iinlnediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide terniination benefits.
1.12 Cashand Cash E4￿]vaIellts
Cash and cash equivalents. include cash in hand, dcposits held at call with banks, other short-ier
liquid investments with orlginal maturities of three months or less. and bank overdrafts. Bank
overdrafts are Shown within borrowings in currentliabllities.
1.13 Financlallnstruments
Financial instruments are recognised in the cotnpany's statement of financial position when the
company becomes party to the contractual provision5 Qf the instrument. Financial assets and
liabilitÉes are offseL with the net amounts presented in the financial statements. when there is a
legally enftsrceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
Baslcfinanclalassets
Basic financlal assets, which include trade and other receivables and cash and bank balances, are
initially measured at trans2ttion price including traThsactlon cost5 and are 5ubsequentJy carried at
amortised cost using the effective interest method unless the arrangement constitutes a financing
transaetion, where thetransaction is measured atthe presentvalue olthefuture receipts discounted
at a market rate ofinteresL
Impalrment Dfflnanclolassets
Financial assets, other than those held at fair value through profit and Ios5, are assessed for
Indicators of impairment at each repurting end date. Financial assets are impaired where thcre is
objectlve evidence tha¢ as a result cif one or MOIE events that occurred afterthe initial recognition
ofthe flnandal asset, the estimated future cash flow5 have been affected. If an d5set Is impaired,
the Impairment Ioss IS the differenc¢ between the carrying amount and the present value of the
estimated casli llow5 discounted cltthe asset's original effective interest rate. The impairmEntloss
i.s recognised in profit loss.lf there is a decrease In rhe impairment 1055 aTising from an event
occurring 3fter the impairment wa5 recogniseLi the impairment Is reversed. The reversal is such
thatthe current carrying amountdoes Iiot exceed what the carrying amguntwould have been, had
the irnpairment not previously been recognised. The impalrment reversal Is recognised in profit
orloss.
Derecognltloft ofjlnanclal assets
Financial a55etsare dereco8nised only whenthe contractual rights to the cash flows frotnthe asset
explre or are settled. or when the company transfers the financial asset and substantially all the
risks and rewards of ownership to another entity. or if some signLfic2nr risks and rewards of
ownership dre retsined but control of the asset has transferred to another party thatls able to sell
the asset in its entirety to an unrelat¢d third party.
27

ARK HOUSING ASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 (CONT'D}
Accounting Policies [Collt'd)
Classificquon oflFnanrlal liabllities
Flnancial liabilities and equity instruments are classlfied accordlng to the substance of the
contractual arrangements entered intu. An equity instrument is any contract that evidences a
residual interest in the assets of the company after deducting all of its-liabilities.
Bosicjlnanclalliabllrftles
Basic fi'nancial liabilities, includingtrade and other payables. bank loans. loans from fellow group
Lompanies and preference share5 that are classified as debt. are initlally recognised attransaction
price unless the arrÉingemcnt constitutes a financinE traiisaction. where the debt instrument is
measured at the present valut of the future re￿ipts discounted al a market rate of interost. Debt
Instruments are Subsequently carried it amortised cost. using the effective interest rate Inethod.
Trade payables are obligatlons to pay forgoods orservice5 thathave beenacquired in the ordlnary
course of business from suppliers. Accounts payable are classified as current liabillties if payment
Is due Wthin one year or less. If not, they are presented as non-current1sabilitie5. Trade payables
are recogni5ed initially at transaction price and subsequent]y measured at amortised cost u.sing
the efFective interest method.
Derecogttltion offinanclal IltYbElltles
Financial liabilities are derecognised when rhe company's contractual obligations expire or are
discharged or cancelled.
1.14 ludgemetJt4nd Keysources ofEstimatlon Uncertainty
Iii the applicatiun of the company's accounting policies, the dlrertors are required to make
judgements, estimates and assumptions about the canying amount of assets and liabilities that
are not readilyapparent from othersources. The estimates and associated assumption5 are based
on historical expcrience and other factors that are conbldered to be relevant. Actual results may
diFfer from these estimates. The estimate5 and underlying assumptions are rcviewed on an
orLRoing basis. Revisions to accounting estimates are recognised in the period in which the
estimate is revised where the revision affects only that peri(>d. or in thE period of the reYi5ion and
future periods where the revision affects both current and future periods.
The a550ciation has recognised a defined benefit pension schenie liability in the balance sheet. the
value of which has been prepared by an independenl qualified actuary. Thc actuarial valuation
involves making assumptions about dL5count rates. future salary increases. mortaliry rates and
future penslon increases. Due to the cthmplexEty of the valuation, the underlying assumptions and
thelong4&mnature ofthese plans, such estimates are subjecttts significant uncertainty.
The annual depreciation charge on fixed assets depend5 primarily on the estimated lives of each
type of asset and e8limates of restdual values. The asset lives are rcgularly reviewed and are
changed as neccssary to reflect current thinking on remairting lives in light of pro£pective
econumic utilisation and physical condition of the assets ¢OIiLerned. Chang2s in asset lives can
have a ssgnificant impact on depreciation and amortisatlon charge5 for the period. Detalls of the
useful lives is included in the accountlng policies.
28

ARK HOUSING ASSOCIATION NORTHFRN IRF.IAND LIMrrED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20Z6
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 (CONT'D}
Z Turnover. operating costs and OPErating5urplus
2026
2025
Operatlng
ThTnover
Operatlng
Costs
Operating
Surplus/
(deficlt)
Operating
Turnover
Operating
Costs
Operatlng
Surplu51
(deficit)
Soclal Houslng AeUvStJes
Non-social HousingActivities
Total
7.515,873
950,257
8,466.130
5.445.764
944,OS7
6,389,821
2,070,109
6.200
2.076.309
7,145,230
869,550
8,014,780
5,040,535
852,618
5,893.153
2,104.695
16,932
2,121.627
Income from Soclal Hollsing
20Z6
Totsl Soaal
Housing
Property
Rcvenue
Sheltered
Supported
Rent receivable
Service Charges Receivable
Support Charge5 and other
Other Operaiing Income
Gross Income
Voids
5,178,109
401,724
335,819
131,175
36,859
355,271
193,913
5.869,199
726,812
36,859
5,579.833
(69,951)
5,509,882
880,779
6.390,661
503,853
(10,881)
492,972
22,475
515,447
549,184
{26.795)
522,389
6,632.870
(107,627)
6,525,243
990.630
7.515,873
Nct Income
Grani released
Tof31 Income
609.765
Operating Costs
Services
303,003
106,251
42,6S8
149,068
558,322
42,658
640.802
187,248
904,839
396,674
136,292
778,764
58.710
61,676
1,647,196
32,583
Support
Rates Payable
Insurance
Management Costs
Maintenance Administration Costs
Planned and fyclical Maintenance
Reactive Mairltenance
Gardening
Component Disposals
Depreciation
Bad Debts
590,654
160,323
745,369
396,674
123,040
521.589
43.801
55,928
1,448,084
32,583
10,230
72,033
16.695
87,437
6,961
101,023
3.07S
5.748
60,448
6,291
156,152
11,834
138,664
Uther
Total Operntlng Costs
4,421,048
458.575
566,141
S,44S.764
Operating Surplus
2,070,109
29

ARKHOU51NG ASSOCIATION NORTHERN JRELAND LIMITED
ANNUAL REPORT AND FINANCIAL STATEMEFrrs FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 (CONT'D)
2 Turnover. operatlng costsand operatlng surplus (Convd)
Income from Sorial Housing
2UZ5
Total Social
Housing
Property
Revenue
Slleltered
Supported
Rent recelvable
Service Charges Receivable
Support Charges and other
Other OperatiTrg Income
Gross Income
Voids
4.748.004
430,562
335.620
153,571
37.106
34R,183
200,915
5,431,807
785,048
37.106
5.178,566
71,182
5,107,384
847,892
5.955,276
526,297
12,374
513,923
25,809
539,732
549,098
16,060
533,038
117,184
650,222
6,253,961
99,616
6.154.345
990,885
7.145,230
Net Income
Grant released
Totsl Income
Operatlng Costs
Services
354.917
129.270
34,112
47,718
9,888
61.637
157,901
642,088
34,112
583,889
177,467
777,696
Support
Rates Payable
Insurance
ManageEnentC05ts
Maintenance Administration Costs
536,171
148,983
638.322
18.596
77,737
309.289
309.289
Planned and Cyclical Maintenance
Reartive Maiutenallce
137,497
463,994
26,018
24.294
1,401.927
7,014
59.402
3,309
34,235
85,683
13.884
93,694
13,561
22.406
129.076
158,395
617,090
42,888
80,935
1.616.686
Gardening
Component Disposals
Depreciation
Bad Debts
Otl]er
Total Operating Costs
4.041.412
472,268
526.855
5.040.535
Operatlng Surplus
2,104,695
30

ARK HOUSINC A￿0C[ATIoN NORTHERN fRF.LAND LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR TklE YEAR ENDED 31 MARCH 2026
NOTES TO THE FINANCIAL STATEMEf4TS FOR THE YEAR ENDED 31 MARCH 2026 (CONT'DJ
2 Turnover. operating costs and operating surplus (Convd)
2026
PToperty
Revenue
Total Social
Houslng
Sheltered
Supported
Techni￿1
Non.tethTrical
3,905,883
1,673.950
5,579.833
448,360
18.634
466,994
494,266
54,918
549,184
4,848.S09
1.747,502
6.596,011
Total
2025
Property
Revenue
Total Social
Houslng
Sheltered
Supported
Technical
3.624.996
1.553.570
5,178.566
470,555
18,636
489.191
494,188
54,910
549.098
4,589,739
1,627,116
6.216,855
Non-technical
Total
DFC Allowantes
2026
2025
Management Allowances
Management Costs
317.520
[730,661)
279,972
(587.353]
Deficit
413.141
307.381
MainteThance A]lowaDces
Planned and cyclical maintenance
Reactive Malntenance
359.100
[123,040]
[521.589)
328.048
(137,497)
(463.994)
Surplus/(Deficlt)
285,529
273,443

ARK HOUSING ASSOCIATION NORTHERN IRELAND I.IMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE FINANCIAL STATEKENTS FOR THE YEAR ENDED 31 MARCH 2026 (COTrlf'D)
2 Turnover. operating eosts and operatingsurplus (Convd)
Turnover, operatlng costs and operatlng5urplus from non-soclal houslng actlvltles
2026
2025
Income
Total
950,257
9SO,257
869.550
869.550
Operating Costs
Management Services
Total
944,057
944,057
852,618
852,618
Operating surpllls
6,200
16,932
Housing Stock
20Z6
2025
Number of units owned on 31 March
Gene￿1 needs housing
Supported Housing
Shcltored Htsusing
Homeless
756
57
74
24
911
712
57
74
24
867
Board Members, emoluments
Board members act in a Yoluntary capacity and as such, none were in receipt of emoluments durlng the financial
year. One membEr was reimbursed expenses totalling E35 during the year. [2025 - E432J.
32

ARK HOUSING ASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THI YEAR ENDED 31 MARCH 2026
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 (CONfD)
4 Employee InfOrn￿tIOn
2026
2025
Avercige monthly number of persons
employed during thc financial year by
dLdvity'.
Offlce
Support Staff
Number
24
18
42
Number
22
19
41
staff Costs
Wages and salaries
Social securily costs
Other pension costs
1,505.534
191.049
265,152
1,961,735
1.322,669
129,978
235,360
1.688,007
The aggregate remuiier2tion, Including benefit5 in kind and pension contributions, of keymanag&ment personnel of
the Association durinE the year was=
Aggregate remuneraiion
S13.021
513.021
411,790
411.790
The number of management personnel to whom emoluments {inrliiding salary, employer naiional insurance,
emplnyer pension contribuknons lind benefits in kind) werc paid during the. year fa]15 Within each of the lullowlng
bands-
2026
Number
202S
Number
£135.000- £140.000
£130.000- £135,000
£95,000- £100.000
£90,000- £95,000
£70.000- £75,000
5 Interest receivable and similar Income
2026
20ZS
Interest receivable
22,215
19.070
6 Interest payable alld 51milar charges
Z026
2035
Loan interest repayable
1,486,653
1,153,539
33

ARK HOUSING ASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH ZO26
NOTES TO THE FINANCML STATEMENTS FOR THEYEAR ENDED 31 MARCH 2026 (CONT'D)
7 Operating Surplus
2026
2025
Thls is stated after
Depreciation
Amortisation ofgrant
Amortlsation written ofF
Components wrttten orf
Auditors, rEtnuneration
audit services
1,740.825
[990.630J
1,702.307
(9S2,263)
{38,622}
80.935
61,676
10,200
10,200
Tangible fixed assets- hou51ng proper￿eS Oand & bullding5J
2026
2025
Cost
At l April 2025
Additions
Disposals
At31 Mar¢h 2026
128,222,930
17,733,503
150,726
145,805,707
113,567,938
14,795,704
140,712
128.222,930
Accumulated depreciatlon
At l April 2025
Charge foryear
Disposals
At31 March 2026
10,544,884
1,647,197
89,051
12.103,030
8,987,976
1,616,685
59,777)
l(I,S44.884
NBVat31 March 2026
133,702,677
117.678,046
Net BookAtllount Comprlses:
Completed Schcmes
Schemes in Progress
89.S19,267
44,183.410
133,702.677
79,072,562
38,605,484
117.678.046
34

ARK HOUSING ASSOCtATION NORTHERN IREIAND LIM￿ED
ANNUAL REPORT AND FINANCIAV. STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE FJNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 (CONTD)
Other Tangible FlxedAssets
Offlce
Flxtures
House
Furniture
New
Office
Offlce
Relurb
20Z6
Total
20Z5
Totsl
Flttings
Cost
At l April 2025
Additioll5
Disposals
At31 March 20Z6
22.301
195.497
37.331
606,705
309,035
1.133.538
37.331
1,115,546
17.992
22,301
232,828
606.705
309,035
1,170,869
1.133,538
Actumulated depreciation
At l April 2025
Charge for the year
Disposals
At31 Mar<h 2026
22,301
103,648
42.502
80.893
20,223
123,616
30.903
330,458
93.628
244,837
85,621
22.301
146,150
101,116
154,519
424.086
330.4S8
Net bookvalue
At31 Marcb2026
86,678
S05,589
154.516
746.783
803,080
2026
10 Debtors
Rental Debtor5- Gross technical
Rental Debtors- Gr055 non-technical
Provi%ion for Bad Debts
Net Rental (includlngrates and service charges)
Other Debto
Prepayments
HousingAssociatson Grants Receivable
2025
422,605
211,777
72.888
561,494
32,089
131.506
4,167.650
409.436
128.645
53,630
484,451
22,383
110,841
2.416,420
4,892,739
3.034.095
11 CTedltors. amounts falllng due wlthin one year
2026
2025
Bank IDaThs [note 14)
Rent. rates, Se￿l¢e charges received in advance
Deferred Grant [note 13)
HAG in Advance
Contractors
Other Creditors
Accruals and DefeNed InLY)me
Payroll casi and Pension ￿￿￿
Disposals proceeds furjd
524,429
144,218
1,663.753
2.334.665
265,385
953,319
4,107,841
71,392
487,771
527,985
108,859
1.443.332
5,440,976
499.642
322,Z25
3.841.238
56.241
487,771
10,552.773
12.728,269
35

ARK HOUSINGASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL REPORT AND FINANCIAL STATF.MEKfs FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE F￿ANCIAL ￿ATEmENTs FOR THE YEAR ENDED 31 MARCH 2026 {CONTD)
Iz
CredltDfJ- amounts falling due after more than one year
2026
202S
Bank Loans (note 14)
HousingA8sociation Grants (nole 13)
37,385,038
81,523,905
32.113,593
70,723.278
118,908,943
102,836,871
13 Deferred Grant. Housing Assodation Grant
2026
2025
HousingA550clation Grant
At l April 2025
Additions
D15posals
At31 MarchZ026
79,096,398
12.011,679
69.508,903
9.668.746
81,251
79,096,398
91,108,077
Accumulated Amortlsation
At l April 2025
Cljarge for year
Disposals
At31 March2026
6.929,789
990,630
6,020,152
952.718
43.081
6.929,789
7.920,419
NBVat31 March 2026
83,187,658
72,166,609
Released wlthin one year
Released after more than oneyear
1,663,753
81.S23,905
83.187,658
1,443.331
70.723,278
72.166,609
36

ARK HOUSING ASSOCIATION NORTHERN IREIAND LIMITED
ANNUAL REPORT AND FINANCIAI. STATEMENTS FOR THE YEAR ENDED 31 MARCH 20Z6
NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 (CONT'D)
14
Loan5
Loan5 are secured on Indlvidual a5set5 of the Association and are repayable as follows..
2026
20ZS
Bankloans- Housing property and other loans
Less than Dne year
Between one and two years
Between two and five years
After more than flveyears
524.429
858.833
2,547,795
33,978,410
527,985
527,985
2.168.(175
29.417.533
37,909,467
32,641.578
Bank loans include £23,085,175 of secured loans repayable after five year5 by quarterly instalments of
£137,494. AII RCF loans Outstaiiding at the end vf the applicable period, will be converted to term loan utLtII
thE end of the facillry term being repayable on aniortised basis ovei- 45 ycars. Bank loaiis bear interest at
rates ranging between 2.27% and .5.950AF at variable and r￿ed rates. All bank loans are sÈciired by way of
mortgages upon the deeds of approved portfolios of propertle5.
Unamortised finance costs of £204,210 [2025- £230,08n associated with the Secured loan are held against
the outstanding balance measured atamortlsed costusing the effettive interest rnethod in accordance wlth
FRS 102 Section 11.
15
Retlrement Benefits
The Assoc2ation's pension scheme forms part of the total fund administered by NILGOSC. Ark ha5
Lontributed at a ratc of 19.-S% Df pensionable sal(iries. Members have paid contributions at varylng rates
up to 8.SO%.
Formal valuatiorjs are carrted out at regular intervals by independent professionally quallfied actuaries.
The last formal valuation was trdrrled out as at 31 March 2026.
Assumptions
2026
(£OOOsJ
4.30%
2.80%
6.20%
2025
(£OOOs)
4.00%
2.50%
5.80%
2.50%
2024
Rate of salary increase
Penslon increases In payrnent
Discount rate
[£OOOs)
4.10%
2.60%
4.60%
2.60¥0
Penslon accounts revaluation rate
2.80¥0
Mortsllty Rates
2026
(Year5J
22.0
22.3
2025
(Years)
21.6
Male- current pensioners
Male- futUTe pensloners
Female- current pensioners
Female- fll￿re pensioners
22.2
25.3
24.5
25.6
25.2
37

ARK HOUSING ASSOCIATION NORTHERN IRELAND LIMITED
ANNUAL REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 20Z6 (CONT'D)
15
Retlrement Benefits(continued)
The assets in the scheme and the experted rate of return were.'_
2026
(£OOOs)
2.262
1191
202S
(£OOOs)
1,950
747
485
175
Equitie5
Government bonds
Property
Corporate bond5
Multi Asset Credil
Other
533
234
723
326
650
291
Cash
169
553
Reconcillation offvnded Status to balance sheet
2026
(EOOOs}
5,438
3,901
1,537
2025
(Eooas)
4,851
3,506
1,345
1,34S
Fairvalue of assets
Present value of scheme liabilities
SurplusJ{deficit) in scheme
Related deferred tax liability
Netpension surplus/[deficit)
1,53
Income and expendlture Impact
The following amounts have been retognised in the statements of cottLprehen5ive income..
2026
(£OOOs)
IS3
2025
(£oons)
215
[28)
22
209
Current serricg c05t
Interest on net liabillty
Intereston unreLognised a55et
Income StatementTotal
78
146
A55et (lOsses)Iga￿lls arising in the pcriod
Liability gainsl(losses1 arising in thc period
Other Comprehensive Inco1￿C StatemeTLt'L'otal
70
[19J
118
26
38

ARKHOU51NG ASSOCIATtON NORTHERN IREIAND LIMJTED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 (CONT'D)
IS Rptirement Beneflts (contfinued)
Changes to the prosent value of obligatlons
31-Mar-26
(£DOOs)
3.506
3J-Mar-2S
(£DtTrOs)
3,958
215
Opening obligation
Current Service cost
Past service cost
Interest expense on obligations
Conttibutions by pardcipants
Actuarial [gain}/loss on liabillties
Net benefits paid out
aosing obligation
153
203
190
94
84
74
1861)
80
129
3,901
3,506
Changes to the fair value of &55ets
31-MaTr26
(£0005J
4.851
288
31-Mar-25
(£OOOs)
4.413
218
Opening fair value of assets
Interest income on assets
Remeasurement {losses)Igains
Contributions by employer
Contributions by participants
Net benefits paid out
Closing fairvalue of assets
70
264
[19]
235
84
94
129
80
4,851
5,438
Actllal return on assets
31-Mar-26
(£0005)
288
31.Mar-25
[£OOOs)
218
Interest Income on assets
Remeasurement [Ios5es)/gains
Artual return on assets
70
19
358
199
39

ARK HOUSING ASSOCIATION NORTHFRN IRELAND LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 (CONT'D}
16 Called up Share Capltal
Z026
2025
Ordinary share5 of £1 each, full paid
At l April 2025
Allotted during theyear
Transferred to capital reserve
At31 March Z026
io
io
io
17 Capltal Reserve
2026
2025
At l April 2025
Transferred from share capital
At31 March 2026
43
43
46
43
18 Revenue Reserve
2026
2025
At l April 2025
Surplus for the year
Actuarial gain
At31 March2026
9,788.797
729,871
118.000
10,400,668
8.817.110
997,687
2A,OUO
9.788,797
19
Restricted Reserve
2026
Z025
At l April 2025
Refund to NIHE Supporting People
Surplus (Deficit) inyear
At 31 March 2026
27.968
[27,9611)
4.055
4,055
56.979
144.482)
15.471
27.968
The restricted reserve are funds trom NIHE Supporting People for specific purposes relating to sheltered and
homeless services.
20
Contlngent Ilabilitles
There exlsts a contingent Ilabllity on the Association of the possib51ity of having to repay grants recelved on
properdes if any properties are sold. Th15 also includes any grants written off through the Implementation of
conwonent accounti
40

ARK HOUSING ASSOCIATION NORTHERN IRELAND I.IMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 (CONfD)
21
Commitntents
Copital Commitments
Capital cotnmitments amoundng to £29.964.703 [2025- £26,692,417) have been contracted for as at 31 March
2026. These commitments will b¢ financed through a combination ofHAG, loans and the Association's reserve5.
Open7ting Lease Commitments
At the year end the Association had no commltments under operating leases [2025-Nil).
Related partydlselosures
22
No transactiot15 wlth related parrles were undertaken Such a5 are required to be disclosed under UK GAAP.
23
Note5 to the Cash Flow Statement
2026
2025
Net cash Inflow from operating artlvlties
Operating surplus lor the year
DeprecldtlDn of tangible fixed assets
Amortisation of grant
Amorti5ation written off
Components written off
Movetnent in debtors
Movement in credltors less than one year
2,076.309
1.740.825
{990,630)
2.121,627
1,702,307
(952,263)
{38.622]
80,935
[76,047)
154.099
2.683,838
61.676
{140,257]
255.222
3,003.145
Z4
Analysis of Cbanges to Net Debt
Other
non-cash
changes
2025
Cashflows
2026
Long-term borrowlngs
shOrt-ter￿ borrowings
Total Liabilitie5
[32.113.S923
527,985
32.641,57
(5.230,691)
11,324
5,242.015
(40,755]
14,880
25.875
[37,385,038]
524,429
37,909.467
Cash and Cash Equivalents
TDtal net debt
3,866,737
28,774.840
3.350,-E51)_
8.592,566
516.186
37,393.281
25,875
41