Debt Repayment
2018 (£m)
2017 (£m)
0 – 1 year
14.09
13.10
1 – 2 years
14.54
13.79
2 – 3 years
32.56
14.54
3 – 5 years
45.05
46.09
5 – 10 years
196.29
148.94
10 – 15 years
88.10
98.65
15 – 20 years
33.08
53.03
20 – 25 years
4.16
20.81
25 – 30 years
2.45
5.09
Over 30 years
0.01
0.03
Total
430.33
414.07
FINANCIAL REPORTING STANDARDS: FRS 102
During financial year ended 31 March 2016 Accord adopted financial reporting standards under the requirements of FRS 102,
as directed by the Statement of Recommended Practice for social housing providers (The Housing SORP 2014). 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 2018.
FRS 102 – impact on operating surpluses (£000s)
2017/18
£’000s
Operating surplus on a FRS 102 basis
26,814
Amortisation of government grant
(2,154)
Increase in depreciation charge
1,551
Pension deficit contributions
(1,024)
Increase in depreciation written out on property disposal
(269)
Amortised government grant recycled
373
Adjusted surplus (UK GAAP position)
25,291
FRS 102 – impact on surpluses (£000s)
2016/17
£’000s
Surpluses pre FRS102 adjustments
10,748
Amortisation of government grant
(2,154)
Increase in depreciation charge
1,551
Pension deficit contributions
(1,024)
Unwinding of pension deficit discount
132
Increase in depreciation written out on property disposal
(269)
Amortised government grant recycled
373
Adjusted surplus (UK GAAP position)
9,357
Financial Statements 2018
27