Arhag Annual Report 2021

FINANCIAL PERFORMANCE ARHAG has delivered an increased surplus of £822k in 2020/21 (2020: £786k). During the financial year, we concluded the payments for fitting out the Stratford Hub and have repaid £2m of our loan facility with one of our principal lenders. ARHAGhas used the surplus generated at the start of the year from the disposal of 10 units in south London to invest heavily in our gas and electrical compliance work. From the uncertainty withwhichwe entered the year over the wider economic climate, due to both Covid-19 and Brexit, our continued strong financial performance has been essential in enabling us to achieve our social objectives. Hence, we are pleased to report a good set of results and a strong financial position. 2. FINANCIAL PERFORMANCE AND VIABILITY STATEMENT 22 ARHAG