Annual Financial Report

Publication of annual report and financial statements of Onward Homes Limited for the year ended 31 March 2022

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

link_Onward website

Onward Group Limited

link_Onward website

Onward Homes Limited

The company has made a deficit for the year of £21.8m (2021: surplus £14.6m). Other comprehensive income of £8.9m (2021: loss £18.0m) 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 £31.9m (2021: £162.2m). The reduction in the cash position is due to the £127.3m of breakage costs and loans which were settled in April 2021 following the Contour Homes amalgamation. The available cash is adequate to finance committed reinvestment and development programmes, along with the association's day to day operations.

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]