Financial Statements 2017 Financial Statements 2017 | Page 47

Debt Repayment 2017 (£ m ) 2016 (£ m )
0 – 1 year
13.10
12.21
1 – 2 years
13.79
11.68
2 – 3 years
14.54
12.37
3 – 5 years
46.09
29.12
5 – 10 years
148.94
90.41
10 – 15 years
98.65
84.24
15 – 20 years
53.03
90.19
20 – 25 years
20.81
61.73
25 – 30 years
5.09
8.29
Over 30 years
0.03
0.05
Total 414.07 400.29
Update to the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102 During the financial year ended 31 March 2016 Accord adopted the updated UK and Ireland Financial Reporting Standard FRS 102 , as directed by the Statement of Recommended Practice for social housing providers ( The Housing SORP ). The Housing SORP reflects changes to UK Generally Accepted Accounting Practice ( GAAP ) effective for financial years beginning on or after 1 January 2015 . The table below summarises the impact of the implementation of FRS 102 on the reported financial results for the association in year ended 31 March 2017
FRS 102 – impact on operating surpluses (£ 000s ) 2016 / 17 £’ 000s
Operating surplus on a FRS 102 basis
23,463
Amortisation of government grant
( 2,277 )
Increase in depreciation charge
1,639
Pension deficit contributions
( 989 )
Adjusted surplus ( UK GAAP position ) £ 21,836
FRS 102 – impact on surpluses (£ 000s ) 2016 / 17 £’ 000s
Surpluses on a FRS 102 basis
8,687
Amortisation of government grant
( 2,277 )
Increase in depreciation charge
1,639
Pension deficit contributions
( 989 )
Unwinding of pension deficit discount
430
Increase in depreciation written out on property disposal
( 184 )
Amortised government grant recycled
255
Adjusted surplus ( UK GAAP position ) £ 7,561
Financial Statements 2017 45