Onward Homes Limited Annual Financial Report (6127L)
06 Septembre 2023 - 4:22PM
UK Regulatory
TIDMYJ18
RNS Number : 6127L
Onward Homes Limited
06 September 2023
Onward Homes Limited
6 September 2023
Publication of annual report and financial statements of Onward
Homes Limited for the year ended 31 March 2023
Onward Homes Limited is the charitable registered provider of
social housing within the Onward Group . Onward Group Limited is
the parent entity in the Onward Group and is a non-charitable
registered provider of social housing.
The annual report and financial statements of both entities are
published today and are available for viewing on Onward's
website:
Onward Homes Limited
link_Onward website
Onward Group Limited
link_Onward website
Onward Homes Limited (OHL)
OHL has made a surplus for the year of GBP16.9m (2022: loss
GBP21.8m). The loss in 2022 can be attributed to one-off loan
breakage costs of GBP36.1m.
An other comprehensive deficit of GBP2.1m (2022: income GBP8.9m)
has also been recognised in the year, following an increase in the
Social Housing Pension Scheme pension deficit.
OHL ended the year with cash and short-term investments of
GBP46.5m (2022: GBP31.9m). The increased cash position is as a
result of the decreased debtors, specifically the repayment of
intra-group borrowings by Atrium City Living during the year.
Onward Group Limited
The consolidated group has made a surplus for the year of
GBP10.7m (2022: loss GBP22.5m). The loss in 2022 can be attributed
to one-off loan breakage costs of GBP36.1m.
The financial statements include an impairment charge of GBP3.5m
on the Group's two largest development schemes, following the
financial hardship of the contractor, Lane End Developments
Construction Limited. The charge was applied to the Group's
subsidiary, Onward Build Limited (which is not a registered
provider of social housing).
For further information, please contact:
Onward Homes Limited
Mike Gerrard
Executive Director of Finance
Renaissance Court
2 Christie Way
Didsbury
Manchester M21 7QY
Telephone: 0161 875 7953
Email: mike.gerrard@onward.co.uk
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END
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