Annual Financial Report

Onward Homes Limited

28 September 2021

Publication of annual report and financial statements of Onward Homes Limited for the year ended 31 March 2021

Onward Homes Limited is the charitable registered provider of social housing within the Onward Group Limited.

The annual report and financial statements of both companies are published today and are available for viewing on Onward's website:

Onward Homes Limited

https://www.onward.co.uk/app/uploads/2021/09/OHL.pdf

Onward Group Limited

https://www.onward.co.uk/app/uploads/2021/09/OGL.pdf

Onward Homes Limited

The company has made a surplus for the year of £14.6m (2020: re-stated £15.4m). Other comprehensive loss of £18.0m (2020: income £18.7m) has also been recognised in the year following an increase in the SHPS pension deficit.

The company ended the year with cash and short-term investments of £162.2m (2020: £19.8m). The increased cash position is as a result of the drawdown of Onward's debut bond (£215m) on 25th March 2021. The bond proceeds were largely used to re-finance existing loans with the majority being settled on 1st April 2021 as part of the transfer of engagements involving Contour Homes Limited.

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: [email protected]