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The financial statements were approved by the Board of Directors on 16 June 2021 and signed on its behalf by: Peter Simpson Steven Buck Chief Executive Chief Financial Officer
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Anglian Water Services Limited, and no dividend was paid (2020: £67.8 million) to its immediate parent, Anglian Water Services Holdings Limited. No other transactions arose in either period.
Mar 31, 2022 · Anglian Water Services Holdings Limited Directors' Report for the Year Ended 31 March 2022 Statement of Directors' Responsibilities The directors are responsible for preparing the Strategic Report and Directors’ Report and the financial statements in accordance with applicable law and regulations.
The Anglian Water Services Executive Directors also sit on the Anglian Water Services Management Board. The Management Board oversees the day-to-day running of the business and develops long-term strategies for approval by the Board of Directors.
- Risk and Compliance Statement
- Board statement on company direction and performance
- Background
- Principal risks
- Benefits of the securitised structure
- Assurance
- Justification for scenarios selected
- Consideration of full range of categories of risk and link to wider risk assessment reported in statutory accounts
- Methodology used and justification
- Pension risk
- Credit rating risk assessment and mitigations
- Company Monitoring Framework assessment assurance and actions
- Reflecting impact of gearing benefit sharing mechanism
- Attracting investment and sharing the rewards
- Financing
- Movement in costs 2019/20 to 2020/21
- Receipts for on-site work (2E.22)
- Table 2I - Revenue Analysis and Wholesale Control Reconciliation
- Table 2J - Infrastructure Network Reinforcement
- General assumptions (2J.1-2J.9)
- Wastewater below ground infrastructure (2J.5-2J.6)
- 31 March 2021 - Wholesale
- Water and Water Recycling
- Water Recycling
- Water
- Bulk supply exports (4A.1 - 4A.11)
- Table 4M - Enhancement Expenditure - Wholesale Wastewater
- Enhancement capital expenditure by purpose
- Property numbers - average during the year - unmeasured, measured and total columns (4R.10 and 4R.13)
- Residential void properties (4R.11)
- Direct river intakes (7)
- Indirect supporting river abstractions (10)
- Total installed power capacity of intake and source pumping stations (5A.21)
- Total installed power capacity of raw water transport pumping stations (6A.4)
- Number of works (7D.9-7D.15)
- Accounting policy note for price control units
- Revenue recognition note
- Tax strategy for the appointed business
- Totex
- Wholesale revenues
- Current tax reconciliation
- Common performance measures
- Transactions between the appointee and associate companies
- Year-end assurance reviews
- Independent Auditors' Report
- Conclusions relating to going concern
- Other information
- Auditors’ responsibilities for the Audit of the Regulatory Accounting Statements within the Annual Performance Report
- Audit Opinion and Conclusion
As the Board of Anglian Water Services, we confirm the following: We have sufficient understanding of our obligations as set out in the Water Industry Act and our licence (‘our Obligations’). We are satisfied that we have sufficient processes and internal systems of control to meet our Obligations. Subject to the exceptions listed below, we believe...
This statement explains how the Board of Anglian Water Services Ltd (the Company) sets the aspirations of the Company, to meet the significant challenges facing the business and the region it serves, and its performance against targets in pursuit of these ambitions. It explains how customers’ and stakeholders’ views are an integral part of setting ...
The Directors are responsible for ensuring the resilience and viability of Anglian Water’s water and water recycling services to meet the needs of its customers in the long term. This means the company must be able to avoid, manage and recover from disruptions to its operations and finances. The Directors’ review of the longer-term prospects and vi...
We have set out the details of the principal risks facing the company in the full annual integrated report, described in relation to our ability to deliver our 10-year outcomes. We identify our principal risks through a robust assessment that includes a continuous cycle of bottom-up reporting and review, and top-down feedback and horizon scanning. ...
The highly covenanted nature of our financing arrangements (often described as a whole business securitisation) enhances our financial resilience by imposing a rigorous governance framework. This requires continuous monitoring and reporting of our financial and operating performance by senior management, through a well-established business process,...
Robust internal assurance is provided by the Board reviewing and challenging the stress test scenarios selected and the risk mitigation strategies. The directors also obtain annual independent third-party assurance on the integrity of the long-term cash flow model which underpins the financial projections. In addition, our external auditor, Deloitt...
As part of our stress testing we have modelled appropriate scenarios and sensitivities which reflect the risks that the business faces. We have listed the scenarios tested (both individual and in combination) in our viability statement, including where appropriate, the severity of the stress testing. Our stresses and cost shocks that we have applie...
Our stress testing aligns to the principal risks identified in our Annual Integrated Report. These risks consider individual company risks, as well as common external risks that affect the sector as a whole, including severe, but plausible macroeconomic impacts. Available mitigations against downside shocks, where necessary are detailed in our long...
We maintain a comprehensive long term cashflow model against which we test the impact of downside scenarios. This model is subject to annual independent third party assurance to ensure its integrity, which underpins the financial projections and outputs. As well as future cashflows, this model includes metrics testing our forecast compliance agains...
With regard to pension risk, our defined benefit pension schemes are closed to future accrual of benefits, and therefore the only remaining risk relates to pension deficit recovery payments. As part of our stress testing we have included the impact of downside risks which would trigger additional pension deficit payments and have modelled these imp...
Our downside stress tests include the impact on key Ratings Agencies metrics and where metrics come under pressure, appropriate mitigations have been identified. These mitigations have been quantified and tested for ability to implement in the necessary timeframe and are sufficient to avoid the risk of downgrade to sub-investment grade in all scena...
Ofwat have stated that they will not publish further Company Monitoring Framework assessments. In the absence of this we did receive feedback from Ofwat on our 2020 APR. We have considered that feedback relating to our long term viability statement. Two minor concerns were raised: The first was that the "scenario testing lacked detail on the outcom...
As the CMA Redetermination did not include a gearing benefit sharing mechanism, we have not therefore included any impacts of this in our scenario testing. We currently have no regulatory investigations being undertaken, therefore we have not had to take these into account for our viability statement.
Our position as a monopoly provider of essential public services makes it essential that we maintain the trust and confidence of our customers while providing fair returns to our shareholders. Table '1F Financial Flows' compares the base return set in the Final Determination with actual performance in the period providing greater transparency to ou...
7 This section combines the impacts of our financing arrangements with tax performance. 8 The table calculates a gearing out performance reflecting the difference between our actual structure and the notional structure in which funding is set. Typically we would see this being offset by higher cost of debt as a result of our higher gearing however,...
Operating expenditure Key variances in underlying costs (real terms)
4 Contributions largely relate to a number of developments accounted for under what is known as the Serviced Site Contribution Model (SSCM) which is intended to enable developer contributions to more closely match actual build rates of the developments instead of the normal higher payment upfront thereby assisting developers’ cashflow.
1 The table reflects the disaggregated charges set to separately recover foul, surface and highway revenue. The calculation of water resources, water network plus, wastewater network plus and bioresources revenue is in line with the proportion of each fixed and volumetric charge set when calculating charges in order to recover the allowed revenue r...
Line description Units Network reinforcement On site / site specific capex capex (memo only) Wholesale wastewater network+ (sewage collection)
Table 2J shows the total capital expenditure on network reinforcement split between below ground infrastructure assets and pumping and storage facilities, classified in accordance with the definition set out in Ofwat’s “Charging rules for new connections services” document. The onsite/site specific capex shows the network enhancement expenditure in...
5 For Wastewater Network+ infrastructure spend, an assessment of all projects has been performed to determine whether the costs are in relation to foul and combined or surface water only systems. No surface water only schemes were included in the current year.
Line description Additional Water Water Wastewater Units Bioresources Price resources network+ network+ Control Total Revenue recognised Calculation of the revenue imbalance
Joint compliance procedures, including initial response and further investigations published and followed to reduce compliance risk and improve site performance.
Enhanced monitoring at high-risk sites Additional mitigation on Water Recycling Centres that showed a marked deterioration in their performance as a result of lockdown Targeted investment Delivery of the first year of an End-to-End Compliance plan for targeted initiatives and projects to reduce identified compliance risk and improve performance.
Reporting of internal monitoring data for all discharges has been improved and published, giving better visibility of data and triggers Investigation trigger levels have been reduced and are completed as high priority work De-chlorination equipment has been installed on all Water Treatment Works with chlorine parameters in their discharge permits.
Water exports principally relate to two cost sharing bulk supply agreements with the revenue mirroring the operating costs, which include depreciation and interest. For the remaining smaller exports, the revenue is either based on standard Wholesale or NAV tariffs, with the operating costs based on the unit cost for each customer class less, in the...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Based on our sample checks, we are satisfied that for the Ofwat APR data lines and PCs we were asked to assure, there is a low risk of material issues with the reported information and the information presents a reasonable account of Anglian Water’s performance. We have made observations detailed in Key Findings (identified as ‘Amber’ and ‘Blue’). ...
Safe,cleanwater Thedeliveryofsafe,clean,high-qualitydrinkingwateriscentraltowhatAnglianWater does ...
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About Anglian Water Water is our business. We handle with care and we don’t cost the earth. Anglian Water is the largest water and water recycling company in England and Wales by geographic area. We supply water and water recycling services to almost seven million people in the East of England and Hartlepool. Supporting our communities
