Onward Homes Limited Annual Financial Report
September 17 2024 - 9:58AM
RNS Regulatory News
RNS Number : 5696E
Onward Homes Limited
17 September 2024
Publication of annual report and financial statements of
Onward Homes Limited for the year ended 31 March
2024
Onward Homes Limited (OHL) is the
charitable registered provider of social housing within the Onward
Group. Onward Group Limited (OGL) 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
(onward.co.uk)
OHL has made a net surplus before tax
for the year of £15.1m (2023: £16.9m). This is a year-on-year
reduction of £1.8m due to increased net interest costs. Underlying
this, operating surplus of £26.0 (2023: £24.3m) has increased by
£1.7m versus the prior year.
OHL ended the financial year with
cash and cash equivalents of £14.4m (2023: £46.5m). The reduced
cash position is due to the funding of the entity's development
programme. OHL held excess cash during the prior year following its
£50m bond issue in 2022.
Onward Group Limited
(onward.co.uk)
The consolidated group has made a net
surplus before tax for the year of £11.6m (2023: £11.0m).
Underlying this, operating surplus of £25.0m (2023: £19.8m) has
increase by £5.2m versus the prior year. This is in part due to the
fact that prior year results included the impact of a £3.5m
impairment charge applied in OGL's subsidiary, Onward Build Limited
(this entity is not a registered provider of social
housing).
For further information, please
contact:
Onward Homes Limited
Dani James
Executive Director of
Finance
3rd/4th Floor
Watson Building
4 Renshaw Street
Liverpool
L1 2SA
Email: Danielle.james@onward.co.uk
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END
ACSSFMFLWELSEIU
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