Financial Statements 7
In December 2023, Anchor Hanover Group put in place two private placement shelf facilities. The first, with Legal and General Assurance Society Limited, is a total facility of £100m. Of this, £15m was drawn for 15 years on completion with the remaining £85m available to draw in the next five years. The second, with Sun Life Assurance Company of Canada, is a total facility of £50m. Of this, £10m was drawn for 10 years on completion with the remaining £40m available to draw in the next five years. The total net book value, net of attributable amortised capital grant, of housing properties used to secure liabilities to third parties is £314,770,000 (2023: £299,709,000). Based on the lenders’ earliest repayment dates, borrowings are repayable as follows: Group Association 2024 £’000 2023 £’000 2024 £’000
2023 £’000 1,092 15,846 125,116 406,589 548,643
In one year or less
17,231 166,649 10,096 424,644 618,620
1,092 15,846 125,116 406,589 548,643
17,231 166,649 10,096 424,644 618,620
Between one and two years Between two and five years
In five years or more
Total
22. Operating lease commitments - Group and Association Anchor Hanover Group leases a number of properties and motor vehicles under operating leases. The Group and Association's future minimum lease payments are as follows:
Motor vehicles £’000
Properties £’000
2024 £’000
2023 £’000
Operating leases which expire: In one year or less Between two and five years
963
4 5
967
1,073 1,163 6,979 9,215
2,573 7,066 10,602
2,578 7,078
In five years or more
12
Total
21 10,623
23. Obligations under finance leases
The obligation falling in five years or more includes ten care homes acquired from Halcyon Care Homes Topco Limited and its subsidiary entities in November 2022. Finance leases relate to properties used by the Group and Association. Obligations under finance leases are payable as follows: Group Association 2024 Net obligations £’000 2023 Net obligations £’000 2024 Net obligations £’000 2023 Net obligations £’000 In one year or less 1,721 1,265 1,721 1,265 Between two and five years 11,603 11,603 11,603 11,603 In five years or more 225,641 227,850 225,641 227,850 Total 238,965 240,718 238,965 240,718
99
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