20 DEBT ANALYSIS 2022 £’000 2021 £’000 Due within one year: Bank loans 1,246 1,245 Due after more than one year: Bank loans 25,208 26,456 Less: issue costs (251) (274) 26,203 27,427 At 31 March 2022 the association had no undrawn loan facilities (2021: nil). Based on the lender’s repayment dates, borrowings are repayable as follows: 2022 £’000 2021 £’000 Within one year 1,246 1,245 One year or more but less than two years 1,142 1,254 Two years or more but less than five years 3,942 3,309 Five years or more 19,873 21,619 26,203 27,427 Bank loans are secured by fixed charges on individual properties. Interest rates vary from 2.25% per annum to 10% per annum. 21 SHARE CAPITAL 2022 2021* Number of members: At the start of the year 9 10 Joining during the year 4 - Leaving during the year (2) (1) At the end of the year 11 9 *The 2021 figures have been restated to reflect the resignation in September 2020 of one Board member. Arhag’s shareholders at March 2022 are its Board members plus on non-Board member. 68 ARHAG
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