Please see a selection of tables below showcasing our financial performance. These tables can all also be found in our Sanctuary Group Annual Report and Financial Statements 2020/2021 (PDF 3.6MB)

Statement of Comprehensive Income for the Year Ended 31 March 2021

  Group 2021 (£m) Group 2020 (£m) Association 2021 (£m) Association 2020 (£m)
Income Statement        
         

Continuing operations

 

 

 

 

Revenue

765.4

763.0

437.0

454.1

Cost of sales

(30.0)

(30.1)

(1.2)

(7.9)

Operating expenditure

(572.6)

(557.3)

(327.2)

(335.9)

Other gains and losses

5.2

6.2

4.3

5.8

Other income

-

-

5.5

19.8

Share of profit of joint ventures

2.1

4.4

-

-

Operating surplus

170.1

186.2

118.4

135.9

 

 

 

 

 

Net gain from acquisitions

4.5

-

-

-

Finance income

2.9

3.6

6.4

7.2

Finance costs

(130.6)

(137.4)

(91.0)

(100.7)

Surplus before tax

46.9

52.4

33.8

42.4

 

 

 

 

 

Taxation

(0.2)

0.8

-

-

 

 

 

 

 

Surplus for the year from continuing operations               

46.7

53.2

33.8

42.4

 

 

 

 

 

OTHER COMPREHENSIVE INCOME

 

 

 

 

Items that will not be reclassified subsequently to income or expense:

 

 

 

 

Remeasurement of defined benefit pension scheme liability

(45.0)

14.8

(46.8)

16.0

Equity investments at fair value through other comprehensive income – net change in value

(0.1)

(0.5)

(0.1)

(0.5)

Items that may be reclassified subsequently to income or expense:

 

 

 

 

Cash flow hedges – changes in fair value

(13.0)

16.3

(13.0)

16.3

Cost of hedging reserve – changes in fair value

(1.7)

(0.1)

(1.7)

(0.1)

Other comprehensive income for the year

(59.8)

30.5

(61.6)

31.7

 

 

 

 

 

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(13.1)

83.7

(27.8)

74.1

 

 

 

 

 

There were no discontinued operations in either the current or previous financial years.

Statement of Financial Position as at 31 March 2021

  Group
31 March 2021 (£m)
Group
31 March 2020 (£m)
Association
31 March 2021 (£m)
Association
31 March 2020 (£m)

ASSETS

 

 

 

 

Non-current assets:

 

 

 

 

Intangible assets

57.7 62.0 51.7 56.0

Property, plant and equipment

3,664.5 3,559.0 2,537.3 2,527.5

Investment property

247.7 260.3 151.2 148.8

Deferred tax assets

4.9 5.1 -

-

Derivative financial assets

20.6 41.5 20.6 41.5

Investments in subsidiaries

-

-

87.7 87.9

Equity accounted investments

2.2 4.4 -

-

Other investments

24.4 24.3 24.3 24.1

Trade and other receivables

42.0 45.5 137.5 64.9

 

4,064.0 4,002.1 3,010.3 2,950.7

Current assets:

 

 

 

 

Trade and other receivables

91.9 83.2 107.2 177.4

Contract assets

-

0.3

- 0.3

Inventory

164.7 112.3 0.6 18.8

Assets classified as held for sale

1.8 0.2 0.2 0.2

Cash and cash equivalents

494.7 261.5 5.1 1.9

 

753.1 457.5 113.1 198.6

 

 

 

 

 

TOTAL ASSETS

4,817.1 4,459.6 3,123.4 3,149.3

 

 

 

 

 

LIABILITIES

 

 

 

 

Current liabilities:

 

 

 

 

Trade and other payables

195.1 155.4 90.9 77.7

Contract liabilities

43.5 30.8 23.1 19.7

Current tax liabilities

-

0.4

- 0.2

Loans and borrowings

336.2 47.9 29.1 40.3

Provisions

10.9 4.8 4.6 2.4

 

585.7 239.3 147.7 140.3

Non-current liabilities:

 

 

 

 

Trade and other payables

4.4 7.3 3.8 5.3

Loans and borrowings

3,041.1 3,057.8 1,740.5 1,789.3

Deferred tax liabilities

0.6

0.6

-

-

Derivative financial liabilities

2.8

3.5

-

-

Retirement benefit obligations

69.1 25.9 68.6 23.8

Provisions

5.1 3.8 -

-

 

3,123.1 3,098.9 1,812.9 1,818.4

 

 

 

 

 

TOTAL LIABILITIES

3,708.8 3,338.2 1,960.6 1,958.7

 

 

 

 

 

EQUITY

 

 

 

 

Equity attributable to owners of the parent:

 

 

 

 

Ordinary shares

 

-

-

-

Cash flow hedge reserve

4.7 17.7 4.6 17.6

Cost of hedging reserve

(0.7)

1.0

(0.7) 1.0

Revaluation reserve

(0.1) 0.1 (0.1) 0.1

Restricted reserves

4.8

2.2

4.6 2.2

Retained earnings

1,099.6 1,100.4 1,154.4 1,169.7

 

 

 

 

 

TOTAL EQUITY

1,108.3 1,121.4 1,162.8 1,190.6

 

 

 

 

 

TOTAL EQUITY AND LIABILITIES

4,817.1 4,459.6 3,123.4 3,149.3

 

Statement of Changes in Equity for the Year Ended 31 March 2021

Group

  Share capital (£m) Revenue reserve (£m) Restricted reserves (£m) Revaluation reserve (£m) Cash flow hedge reserve (£m) Cost of hedging reserve (£m) Total equity (£m)

At 1 April 2019

-

1,033.8

0.2

1.2 1.4 1.1 1,037.7

 

 

 

 

 

 

 

 

Surplus for the year

-

53.2

-

-

-

-

53.2

Other comprehensive income

-

14.8

-

(0.5)

16.3

(0.1)

30.5

Total comprehensive income

-

68.0

- (0.5) 16.3 (0.1) 83.7

 

 

 

 

 

 

 

 

Transfer of VRTB proceeds

-

(2.0)

2.0

-

-

-

-

Transfer of gain on disposal of equity investments

-

0.6

-

(0.6)

-

-

-

Total transfers

-

(1.4)

2.0

(0.6)

-

-

-

 

 

 

 

 

 

 

 

At 31 March 2020

-

1,100.4

2.2 0.1 17.7 1.0 1,121.4

 

 

 

 

 

 

 

 

At 1 April 2020

-

1,100.4

2.2 0.1 17.7 1.0 1,121.4

 

 

 

 

 

 

 

 

Surplus for the year

-

46.7

-

-

-

-

46.7

Other comprehensive income

-

(45.0)

-

(0.1)

(13.0)

(1.7)

(59.8)

Total comprehensive income

-

1.7

-

(0.1)

(13.0)

(1.7)

(13.1)

 

 

 

 

 

 

 

 

Transfer of VRTB proceeds

-

(2.6)

2.6

-

-

-

-

Transfer of gain on disposal of equity investments

-

0.1

-

(0.1)

-

-

-

Total transfers

-

(2.5)

2.6

(0.1)

-

-

-

 

 

 

 

 

 

 

 

At 31 March 2021

-

1,099.6

4.8

(0.1)

4.7

(0.7)

1,108.3

Association

  Share capital (£m) Revenue reserve (£m) Restricted reserves (£m) Revaluation reserve (£m) Cash flow hedge reserve (£m) Cost of hedging reserve (£m) Total equity (£m)

At 1 April 2019

-

1,112.7

0.2

1.2

1.3

1.1 1,116.5

 

 

 

 

 

 

 

 

Surplus for the year

-

42.4

-

-

-

-

42.4

Other comprehensive income

-

16.0

-

(0.5)

16.3

(0.1)

31.7

Total comprehensive income

-

58.4

-

(0.5)

16.3

(0.1)

74.1

 

 

 

 

 

 

 

 

Transfer of VRTB proceeds

-

(2.0)

2.0

-

-

-

-

Transfer of gain on disposal of equity investments

-

0.6

-

(0.6)

-

-

-

Total transfers

-

(1.4)

2.0

(0.6)

-

-

-

 

 

 

 

 

 

 

 

               

At 31 March 2020

-

1,169.7

2.2

0.1

17.6

1.0

1,190.6

 

 

 

 

 

 

 

 

At 1 April 2020

-

1,169.7

2.2

0.1

17.6

1.0

1,190.6

 

 

 

 

 

 

 

 

Surplus for the year

-

33.8

-

-

-

-

33.8

Other comprehensive income

-

(46.8)

-

(0.1)

(13.0)

(1.7)

(61.6)

Total comprehensive income

-

(13.0)

-

(0.1)

(13.0)

(1.7)

(27.8)

 

 

 

 

 

 

 

 

Transfer of VRTB proceeds

-

(2.4)

2.4

-

-

-

-

Transfer of gain on disposal of equity investments

-

0.1

-

(0.1)

-

-

-

Total transfers

-

(2.3)

2.4

(0.1)

-

-

-

 

 

 

 

 

 

 

 

At 31 March 2021

-

1,154.4

4.6

(0.1)

4.6

(0.7)

1,162.8


Statement of Cash Flows for the Year Ended 31 March 2021

  Group 2021 (£m) Group 2020 (£m) Association 2021 (£m) Association 2020 (£m)

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

 

 

 

Surplus for the year

46.7

53.2

33.8

42.4

 

 

 

 

 

Adjustments for:

 

 

 

 

Depreciation, amortisation and impairment

78.6

73.0

57.7

58.3

Surplus on sale of property, plant and equipment

(5.0)

(6.2)

(4.1)

(5.8)

Surplus on sale of investments

(0.2)

-

0.2

-

Share of profits in joint venture

(2.1)

(4.4)

-

-

Net gain from acquisitions

(4.5)

-

-

-

Net finance costs

127.7

133.8

84.6

93.5

Tax expense/(credit)

0.2

(0.8)

-

-

 

194.7

195.4

138.0

146.0

 

 

 

 

 

Cash generated before working capital movements

241.4

248.6

171.8

188.4

 

 

 

 

 

Changes in:

 

 

 

 

Trade and other receivables

(3.2)

(5.5)

16.3

(18.0)

Trade and other payables

31.1

8.1

16.0

1.5

Inventories

(52.4)

(1.7)

18.2

2.6

Provisions

1.6

(5.3)

0.4

(5.1)

 

(22.9)

(4.4)

50.9

(19.0)

 

 

 

 

 

Cash generated from operating activities

218.5

244.2

222.7

169.4

 

 

 

 

 

Interest paid

(135.7)

(143.7)

(85.9)

(96.2)

Tax paid

(0.3)

-

-

-

 

 

 

 

 

Net cash inflow from operating activities

82.5

100.5

136.8

73.2

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

 

 

 

 

 

 

Interest received

0.9

1.2

0.7

0.7

Proceeds from sale of property, plant and equipment

11.6

19.7

9.5

16.9

Proceeds from sale of investments

0.8

3.3

0.8

3.3

Acquisition and construction of property, plant and equipment, investment property and software

(185.5)

(245.8)

(72.4)

(99.4)

Acquisition of subsidiaries and other business combinations, net of cash acquired (note 33)

(6.4)

(61.0)

-

(20.3)

Acquisition of other investments

(0.8)

(1.1)

(0.9)

(1.1)

Capital grants received

53.4

36.0

-

-

Dividends received from joint ventures

4.3

3.2

-

-

Loans to joint ventures

3.8

(2.5)

3.8

(2.5)

Loans to other Group entities

-

-

(20.7)

(7.2)

 

 

 

 

 

Net cash outflow from investing activities

(117.9)

(247.0)

(79.2)

(109.6)

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

 

Proceeds from loans and borrowings

642.7

485.0

87.2

193.0

Repayment of borrowings

(374.1)

(227.1)

(141.6)

(169.8)

 

 

 

 

 

Net cash flow from financing activities

268.6

257.9

(54.4)

23.2

 

 

 

 

 

Net increase/(decrease) in cash and cash equivalents

233.2

111.4

3.2

(13.2)

 

 

 

 

 

Cash and cash equivalents 1 April 2020

261.5

150.1

1.9

15.1

 

 

 

 

 

Cash and cash equivalents 31 March 2021

494.7

261.5

5.1

1.9