Good Practice in Annual Reporting

INSIGHT
Good practice in annual reporting
Good practice guide
February 2023
Our interactive guide sets out our

good-practice principles for good
annual reporting and provides
illustrative examples taken from
organisations in the public, private
and charity sectors we think are
leading the way in this area.
We are the UK’s independent

public spending watchdog
Communications Team
DP Ref 013252-001
Introduction
Good practice
in annual reports
About this guide • a frank and balanced assessment of risks and opportunities facing
an organisation: Organisations should seek to report on risks and
Introduction Our latest interactive guide provides examples of good practice in annual
opportunities in a way that is open and transparent with its stakeholders.
reporting. We have drawn on examples we have seen from the public sector
This includes providing a clear narrative explaining how effectively risks are
and other organisations shortlisted for the Building Public Trust Awards, which
being managed and whether the objectives of a body are being achieved;
NAO’s good-practice principles recognise trust and transparency in corporate reporting. PwC has run these
for annual reports awards for many years and the National Audit Office (NAO) co-sponsors the • understandable non-financial information: Stakeholders are increasingly
award for Reporting in the Public Sector. interested in non-financial impacts and what an organisation is doing
to specifically address external factors affecting them. Sustainability
Strategy Why transparent reporting is important
reporting is one area of increasing interest and focus;
Effective annual reporting in the public sector is more important than ever.
The COVID-19 pandemic and, more recently, the energy price crisis have • linkages between financial and non-financial information:
Risks Organisations can add context to current year achievements and
resulted in extraordinary public spending interventions by the government to
future objectives by demonstrating how the numbers in the financial
support the public and the economy. Making government spending transparent
statements tie to their operational activities. Providing frank indicators of
and understandable to those who fund it – taxpayers – is therefore critical.
Operations Annual reports must clearly tell the ‘story’ of how these monies have been
performance is an effective means for organisations to tell their ‘story’ in
a meaningful way; and
spent and what has been achieved. Crucially, annual reports and accounts
must give assurance on how effective outcomes are being secured and how
Governance the risk of fraud and loss to the public purse is being appropriately managed
• accessibility considerations: Organisations which produce their
annual reports in a variety of formats and have clearly considered the
and controlled.
accessibility requirements of the reader continue to benefit users the most.
Good reporting equips stakeholders with information they can use to hold Organisations should explore different avenues to communicate their story
Measures of success so that they can reach a wider audience.
organisations to account. This is why high-quality annual reports and accounts
are fundamental to effective accountability.
Next steps
Financial performance Principles supporting high-quality annual reporting
The NAO’s involvement with the Building Public Trust Awards is part of our
In this guide, we set out our good-practice principles that we believe underpin wider commitment to helping raise the standards of reporting by public bodies.
good annual reporting. These principles are grouped under: Supporting We hope that you will find these examples useful as you consider what to
External factors accountability; Transparency; Accessibility; and the need for the report to include and how to structure your annual reports this year.
be Understandable.
If you would like further information about the guide, or any aspect of annual
Against these principles, we have highlighted in our guide examples which report and accounts production, please contact your usual NAO team, or get in
demonstrate attributes of good-practice reporting. These include: touch via Building.Public.Trust@nao.org.uk.
• joined-up reporting: Annual reports can, in some cases, be quite long Kate Mathers
documents; Joined-up reporting uses presentational techniques to Executive Director
keep a thread going throughout the main elements of an annual report. National Audit Office
This keeps the reader clear about the messages portrayed and engaged February 2023
in the content;
2
Good practice
in annual reports The NAO’s The good-practice principles are grouped under the following headings:
Introduction
principles Supporting accountability
NAO’s good-practice principles

of a good • t elling the story of the organisation in a fair and
balanced way;
for annual reports
annual • compliance with the relevant reporting requirements; and
report
• clear action points to take forward.
Strategy
Risks Transparency
• frank and honest analysis;
Operations • consideration of the challenges an organisation is facing;
• appropriate use of data; and
Governance A good annual report • quantification of risks and performance measures.

provides a fair and
Measures of success balanced description
Accessibility
of a body’s ‘story’ in a
way that is compelling • highlights key trends in the financial statements;
Financial performance
to the wide variety • concise summaries of key points; and
of stakeholders that • onsideration of how the organisation engages with key

c
External factors stakeholders and meets their needs.
have an interest in a
body’s activities.
Understandable
Use of:
• plain English to explain difficult concepts;
• infographics and diagrams to communicate important

messages; and
• learly integrated structure to help users navigate the

c
report effectively.
3
These principles should be evident across the sections of the annual report:
Strategy Operations Measures External factors

Good practice of success
in annual reports
Introduction

for annual reports
Strategy
Risks Governance Financial

Risks performance
Operations How to use this guide

This guide draws on examples of good practice from Throughout each section we have also included examples
Governance within each of the sections of an annual report. For each where bodies have made their annual reports more
example we have highlighted the good-pratice principles understandable to the reader through use of graphics,
demonstrated using the icons below: clear language, aids to make reports easier to navigate
Measures of success
and signposting.
In considering which examples to use, we reviewed annual
Financial performance reports and accounts for 2021-22 that were available
by the time this guide was published and examples of
External factors good practice from PwC’s Building Public Trust Awards
Supporting Transparency 2022. Our examples will not be an exhaustive list of
accountability good practice but are presented to provide ideas for all
bodies to think about as they plan their annual reporting
for 2022-23 and are the ones we think best portray the
principles of good annual reporting.
Accessibility Understandable
4
Good practice
in annual reports
Strategy
Introduction What did we look for? Examples:

• Clarity around purpose, strategic objectives
and key programmes/projects
for annual reports 1 Integration of strategic themes
• Balanced view of progress against objectives
Strategy
• Details of future plans to implement priorities
2 Repeated performance wheel
Risks • Strategy clearly linked to performance
measures and risks
Operations 3 Introduction of a new strategy
Governance
4 Strategy linked to governance structure
Measures of success
Financial performance 5 Golden thread throughout the annual report
External factors
6 Strategy in action case studies
7 Looking ahead to the next financial year
5
We use five strategic themes to describe all the activities
needed to deliver the NDA’s mission.
SECTION The first four strategic themes, Spent Fuels, Nuclear Currently, the most urgent task is dealing
KEY STRENGTH
with our
ORGANISATION
Strategy 1 Integration of strategic

Materials, Integrated Waste Management and Site themes Nuclear Decommissioning Authority
sites’ highest-hazard materials, spent fuel, nuclear
Decommissioning and Remediation relate directly materials and highly radioactive wastes.
Annual Report and Accounts 2021-22
to our clean-up and decommissioning work and are
Once the inventory has been made safe, the
known as driving themes.
Good practice redundant nuclear facilities can be dismantled and
EXAMPLES
The fifth theme describes
1 the important
2 3 4 activities
5 6 demolished.
7 Page 27
in annual reports needed to support the delivery of our mission and
is known as critical enablers. The diagram below
demonstrates how they interplay.
Introduction
Integration of our strategies
NAO’s good-practice principles CE Critical Enablers
for annual reports Supporting the overall delivery of our mission
Strategy
Spent Fuels Nuclear Materials
Safe lifecycle management of Safely managing our inventory

Risks Engaging diagram our spent fuel inventories
SPENT FUELS PLUTONIUM of plutonium and uranium, while Icons are
URANIUM exploring options for reuse or
illustrating how disposal used throughout
the Nuclear the annual
Decommissioning report, including
Operations
Authority’s WASTE performance and
(NDA’s) strategic risk reporting.
objectives work
Governance together to meet Integrated Waste Management
greater range of uncertainty

its overall mission.
Removing all high hazard
waste from legacy facilities
Measures of success and storing safely
DISPOSAL
FACILITIES
Financial performance WASTE
REDUNDANT
BUILDINGS
Site Decommissioning and Remediation
greater range of uncertainty

External factors
REDUNDANT REDUNDANT
BUILDINGS Release land for other uses
BUILDINGS
DEDESIGNATE
AND REUSE
LAND Supporting Transparency
accountability
NOTE: this diagram is purely
MISSION END indicative of the mission and does
950 hectares of land released for other uses not represent the complexity of
all of the themes.
6
SECTION KEY STRENGTH ORGANISATION
Strategy 2 Repeated performance wheel Wates Group Annual Report and

Accounts 2021
Good practice EXAMPLES

1 2 3 4 5 6 7 Page 11
in annual reports
Introduction Strategy
Strategy
for annual reports Performance Wheel
We
e
ssiv
KEY PERFORMANCE PRIORITIES
car
gre
PROFITABLE
e
Strategy
Pro
We
OU
Wates is committed to progressive earnings growth and to
a
d
SAFE
re
S
ste
partnering with customers to deliver products and services
AL
BE
The Wates Group was founded 125 years ago with the ambition to create
fair
Tru
GO
HA
better homes and communities. That ambition is as relevant now as it that offer exceptional value for money. The Group is
CREATING
VI
R Wates intends to eliminate physical and psychological investing significantly in its Wates Developments and Wates
OU
OU
was in 1897 and is today articulated in the Guiding Framework (right),
We ette
TOMORROW
ab
able
RS
Risks
which defines Wates’ purpose: together we inspire better ways of harm from all its workplaces. To do this, it will continue to Residential divisions, in its digital transformation programme
loo r wa
TOGETHER
tain
implement its Zero Harm: Safer Together strategy, which and in identifying opportunities to grow new service lines
k fo y
creating the places, communities and businesses of tomorrow.
Sus
has already delivered industry-leading results. It will also that meet the evolving needs of its customers.
r
OUR PURPOSE
continue to make safety the very first topic of discussion
Together we inspire better ways of creating
The report
the places, communities and businesses of tomorrow in formal meetings on projects and the first topic reported
As well as this motivating purpose, the on when discussing performance, including with the Board.
includes a very Wates will continue to link variable pay structures to
Operations
Guiding Framework defines the wider
goals the Group is working to achieve and The five key performance priorities By becoming more inclusive and diverse, improvements in safety performance.
the behaviours it expects of its people. through which the Group’s goals will be clear strategy
the Group is likely to be better able to
section which
It builds on the ethos that has shaped achieved are summarised in a Performance set new standards for the sector on
Wates since 1897 and summarises the Wheel. The five priorities are: safety; safety, quality and environmental
changes necessary for the Group to evolve sustainability; diversity and inclusion;
connects the
sustainability. In doing so, profits will QUALITY
Governance
and flourish in the future. As Wates works quality; and profitability. Each priority increase, funding the investment in
to make the business more sustainable, has defined targets against which Wates organisation’s
people, technology and data needed
Wates remains committed
trusted and progressive, the expectation measures performance. The five priorities to drive further performance gains.
is that in everything Wates does, it will are linked and inter-dependent. strategy with to eliminating the practical and
economic impacts of any quality
demonstrate its behaviours of ‘we care’,
‘we are fair’ and ‘we look for a better way’. its values via a failures from the business, while also
achieving full compliance with all the
These goals and behaviours underpin performance
Measures of success
everything Wates hopes to achieve.
wheel.
relevant regulatory and legislative
standards. This drive will also involve
the Group’s partners, and so supply
chains will be simplified to focus
The report then

spend more on businesses that share
the company’s aspirations, values
Financial performance includes this wheel and standards.
as a signpost for
The amendments to building
regulations, combined with the
how its activities Building Safety Bill which are due to
become law in 2022, demand that the
align with the business remains nimble and adaptable.
External factors company’s
Wates’ commitment to this agenda
was evidenced in 2021 when it became
underlying one of the first companies to begin
the process of becoming a Charter
priorities. Champion company, launched by
the BSF Charter.
DIVERSE AND INCLUSIVE SUSTAINABLE
Wates’ ambition is to become a measurably more diverse business and Sustainability is at the heart of Wates’ operations.
to be recognised as a truly inclusive and diverse employer. Its gender pay The Group is working to eliminate Scope 1 and 2
gap expresses an imbalance that the business will work to fix in 2022 and carbon and waste from its business operations and
beyond. A more inclusive culture will be achieved by establishing clear
Supporting Transparency
become ‘net nature positive’. To do so will require a
and non-negotiable expectations about colleagues’ behaviour and focus on the operational changes required to meet accountability
language. Wates will invest in recruitment expertise to bring new people this target and the adoption of new, innovative
into the business from outside the sector and provide them with training products and processes. The Group is also collaborating
that will allow them to flourish. Leaders and managers will be measured with customers and suppliers to achieve Scope 3
on how effectively they lead the change and on the extent to which reductions in response to rapidly developing market
they treat everyone fairly. and customer demands.
10 WATES G RO U P L IMITE D AN N U A L ACCOU N TS A N D REPORTS 2021 11

7
Strategy 3 Introduction of a new strategy National Society for the Prevention of

Cruelty to Children (NSPCC) Annual
Report and Accounts 2020-21
1 2 3 4 5 6 7 Page 12
in annual reports
Introduction

for annual reports
Our new strategy
Strategy 2021-2031 To effectively deliver our strategy,
we have drawn out seven principles that
F
p
will shape and guide everything we do for a
children and young people.
Risks
P
Together, we can We didn’t decide on this Alongside this work, we a
c
The organisation stop child abuse and
strategy alone. We engaged
with a range of people —
considered the latest child
protection research, what we n
presents its neglect. This is our children, staff, volunteers, know about the needs and fi
st
external stakeholders and experiences of children across
Operations new strategy for vision. And through more. It was the most robust the UK, and what support others
2021-2031, while the collective power of and inclusive consultation are better placed to provide.
we have done in recent years. We looked to ourselves too —
commenting on our staff, supporters, We listened, we learned, and weighing up what our strengths
partners and volunteers, we took that on board when are as an organisation and where
the outcomes of planning our approach for we can add the most value in
and our 100 years of
Governance its strategy for experience; we will
2021 onwards. making a difference for children.
2016–2021. Be inspired and Build on our W

move closer to led by children strengths p
achieving that vision.
The five goals laid We’ll involve children and young We’re drawing on over 100 W
Measures of success out as part of the
people in our work and decision-
making through meaningful
years of experience. We’ll do
the things we do well — that
—
an
participation. We’ll continue to others can’t, won’t or don’t do. m
old strategy are listen to them, learn from them, We’ll do more to be present in ab
linked throughout and be inspired by them. communities, understand their
needs and work with them to
to
st
Financial performance the report, with shape what we do. an
re
key facts and w
figures used to
demonstrate how
External factors the goals have
been successfully
achieved.
Be trauma Embed equality, In
informed diversity and p
inclusion fo
All of our work with children will be We believe every childhood is W
Supporting worth
underpinned by an understanding Transparency
fighting for. Together, to
of trauma. We’ll helpaccountability
others with we’ll remove real and perceived ke
this too — developing a shared barriers to inclusion and diversity. th
awareness of trauma and making Because recognising, embracing ch
sure all children get the response and valuing differences leads to
and support they need. improvements for all.
12 13 NSPCC Annual Report and Accounts 2020-21
8
SECTION KEY STRENGTH
ORGANISATION
Strategy 4 Strategy linked to governance structure United Utilities Group PLC Annual

1 2 3 4 5 6 7 Contents and page 120
in annual reports
Introduction
Contents
Business overview Look out for our key icons throughout this report
NAO’s good-practice principles Corporate governance report A snapshot of our report 02 Our strategic themes
Chair and Chief Executive
for annual reports Officer's review 04 The best service to customers
a complex set of regulatory key performance indicators,
including total expenditure (totex) outperformance,
board committee meetings (with 2021/22
remuneration committee) are tabled
the exception
Strategic
highlights
of the
themes 08
Our at board meetings
approach as a responsible business 12
the outcome delivery incentive (ODI) mechanism,
customer measure of experience (C-MeX) and financing Reporting and
and the chairs of each of the board committees report
purposes
methodology
verbally to the board on their activities. The Chair 13
At the lowest sustainable cost
Strategy expenditure (see pages 50 to 83) which are managed

and monitored by the business.
chairs the nomination committee; all other principal
board committees are chaired by Strategic
identified at the
independentreport In a responsible manner
Governance structure for the board and its
interests in the activities of those
outsetstrategy,
non-executive directors who have particular skills or
Our purpose, vision,
committees.
of the
committees
The board has responsibility for establishing the The executive team is chaired by the CEO, and its
How we
annual report.
values and culture
operate
16
18
Read more about our strategic themes on pages 16 to 17
strategy, which is broken down into the three strategic members are the senior managers who have a direct
Which
model are then
Our strategy is broken down into these three themes, which form
Risks
themes. The governance structure encompassing reporting line to the CEO. The executive team meets
Our business 20
the board, its principal committees and the principal monthly. It is responsible for the day-to-day running the framework through which we provide great water and more for
management committees (and set out in the diagram – Our
of the business and other operational keyand
matters fully explained,
resources 24
the North West.
below) contributes to ensuring that the group focuses implementing the strategies that– theOur
boardexternal
has set. drivers 26
on its strategic themes. The diagram below shows the principal management alongside the
– S172(1) Statement 40
committees and a brief description of their roles. These Key stakeholders for whom we generate value
of thecompany’s values.
In line with the code, the board delegates certain roles
– Our approach
committees are vital to the implementation group’s 42
and responsibilities to its principal board committees.
Operations
strategic themes, enabling senior management to meet
– Our planning horizons 46
Communities Environment
While the board retains overall responsibility, a sub-

committee structure allows these committees to probe
together to discuss the needs of the business, raise Communities Environment
– The actions,
issues, identify and delegate appropriate value andwe generate 50 Customers
the subject matters more deeply and gain a greater

monitor progress. The board receives
Ourreports providing in 2021/22
performance 52 Customers
understanding of the detail. The committees then

Shareholders
an updated overview of the business, and its financial and Customers Investors
report back to the board on the matters discussed, Alignment to
operational performance at every scheduled meeting, wider goals 84
decisions taken, and, where appropriate, make
recommendations to the board on matters requiring Our
Short biographies of the executive approach
team to
climate change
can be found 86 Employees
Employees
Governance its approval. The reports of the principal board Our approach to
on the company’s website at unitedutilities.com/ Task Force on Nature- Environment
Suppliers
committees required by the code can be found on the executive-team
related Financial Disclosures (TNFD) 98
Media
subsequent pages. Minutes of the board and principal

Our risk management 100 Read more about our stakeholders on pages 29 to 33
Governance
Governance structure of the board and its principal committees and the principal management committees There are six key stakeholder groups for whom we create long-term
Corporate governance report
Measures of success Group board – Board of directors 112
value and it is essential we understand what matters most to them.
Chair – Sir David Higgins – Letter from the Chair 116
– Nomination
Chief Executive committee report
Officer – Steve Mogford 130
Principal board committees
– Audit
Principal committee
management report
committees 143
– Treasury committee report 155
Financial performance Audit committee Executive–teamCorporate responsibility
Chair: Doug Webb Chair: Stevecommittee
Mogford, CEO report 156
Contribution to our strategy:
See pages 143 to 154

– Remuneration committee report
This forum is responsible for implementing the board’s
160 The strategic
– the
Taxday-to-day
policies and objectives 192
themes are
strategy and operation of running the
business and the CEO will cascade decisions made by
the boardDirectors’
to the businessreport
via this forum. 194
External factors also considered
Remuneration committee
Chair: Alison Goligher Statement
Group audit and risk board of directors’ responsibilities 198
See pages 160 to 194
Chair: Steve Mogford, CEO
Financial statements
Contribution to our strategy: throughout the
Nomination committee
See page 101
Independent auditor’s report annual report,
Quarterlyto the members
business of United Utilities
review
Chair: Sir David Higgins
Chair: Steve Mogford, CEO
Group
Contribution to our PLC only
strategy: 202 including
See pages 130 to 138 This forumConsolidated income
is responsible for the statement
quarterly review
of operational, financial and health and safety
210 linking how
Corporate responsibility committee
Consolidated statement of
performance.
comprehensive income
Political and regulatory group 211
board members
Chair: Stephen Carter
Contribution to our strategy: Chair: Gaynor Kenyon,
corporateConsolidated
affairs director and company contribute to
statements of financial position 212
each theme.
See pages 156 to 159 Contribution to our strategy:
This forum is responsible for discussing political and
Consolidated statement of changes Supporting Transparency
Treasury committee regulatory issues affecting the company, where any
Chair: Doug Webb in equity
‘horizon scanning’ issues are raised and business 213 accountability
Contribution to our strategy: responses to consultations are agreed.
Company statement of changes in equity 214
See page 155 Capital investment committee
Consolidated
Chair: Steve Mogford, CEO and company
Key
statements
Contribution of cash flows
to our strategy: 215
The committee is responsible for authorising expenditure
The best service At the lowest In a responsible relating toGuide
the capitalto detailed
investment financial statements
programme. Keep in touch with us
to customers sustainable cost manner
disclosures 216
Accounting policies 217
120 unitedutilities.com/corporate Visit our corporate website at unitedutilities.com/corporate
Notes to the financial statements 220
Notes to the financial statements – twitter.com/unitedutilities Accessibility Understandable
9
appendices 237 youtube.com/user/unitedutilities
Five-year summary – unaudited 263
linkedin.com/company/united-utilities/posts
Shareholder information 264
ORGANISATION
Strategy 5 Golden thread throughout the annual report Age UK Annual Report and Accounts
2020-21

1 2 3 4 5 6 7 Page 9 and 20–47
in annual reports
Introduction
Using the same Strategic report
colours and
NAO’s good-practice principles motifs enables
Age UK includes
for annual reports
the reader of
the accounts to
Being there as a a snapshot of
draw connections powerful voice the challenges
it faced during
Strategic report Age UK’s six between different Strategic report
Strategy charitable sections of the COVID-19
We’ve risen to the challenge of older people needing a strong voice, by shining The pandemic year:
objectives the report. a spotlight on the issues that they and their families have told us they’ve faced pandemic
the situation we facedmirrored
Being there as a
introduced on
page 9 feed into
during the pandemic, helping to change the way the Government, and others
have responded.
with what it did
From the start of the pandemic, we set out to
to rise toolder
thepeople, letting
Risks be a powerful voice for
powerful voice
the narrative
those with power know about the issues older
challenge.
people were telling us about.Age
Older people were
reporting UK presents
disproportionately affected by the pandemic, more
likely to die, and hit harder by shielding due to
We’ve risen tothroughout,
the challenge of older people needing a strong voice, by shining The pandemic year: these
underlying paragraphs
health conditions. We were concerned,
Operations demonstrating
a spotlight on the how
issues that they and their families have told us they’ve faced the situation we faced affordedadjacent
enough attention, tothateach
and remain so, that the plight of many was not
older people’s lives
during the pandemic, helping to change the way the Government, and others
the organisation’s From the start of the pandemic, we set out to were seenother in aand
of less value, concise
that life and death
have responded. decisions were made on this premise.
strategy and
be a powerful voice for older people, letting
those with power know about the issues older
manner, signaling
This year, we’ve redoubled our efforts to campaign
achievements with, fortoandthe reader thatcapture
Governance
people were telling us about. Older people were on behalf of older people,
disproportionately affected by the pandemic, more
during 2020-21 likely to die, and hit harder by shielding due to it understood how
public attention, and ensure government and policy
makers responded. We’ve also made sure that older
link to their overall underlying health conditions. We were concerned, people, challenging the
their families, and carers know they can turn
and remain so, that the plight of many was not to us for help.
purpose. afforded enough attention, that older people’s lives pandemic was but
Measures of success were seen of less value, and that life and death
decisions were made on this premise. had clear steps in
This year, we’ve redoubled our efforts to campaign place to mitigate
The pandemic year: rising to the challenge
with, for and on behalf of older people, capture the impact.
egic report Strategic report public attention, and ensure government and policy Throughout the pandemic we’ve heard from front This wo
makers responded. We’ve also made sure that older line health and care services, our own local partners that we
people, their families, and carers know they can turn and directly from older people and their families and Feb
to us for help. about the tremendous challenges they have 2021) w
ow we work faced. We’ve worked hard to inform and advise the

Government, NHS England, and other bodies to
depth a
older pe
collectively come up with solutions. Issues we’ve research
External factors
UK’s vision is a world where everyone can love We are focused on six areas of charitable activity The pandemic year: rising to the challenge
advised on include: equal access to medication and
treatment so older people got the help and care they
that the
the pan
life. We know it won’t be easy getting there, We are national deserved; providing on-going access to social care 4 million
Throughout the pandemic we’ve heard from front This work was backed up by two pieces of research
we believe it’s how things should be for people In the UK we help and support; support and advice for people shielding of our re
line health and care services, our own local partners that we carried out with older people in August 2020
er life and, with your help, we work every day to millions of people every and the clinically vulnerable; vaccination; PPE and people
year, providing support,
and directly from older people and their families and February 2021 (and subsequently in September
e it happen. about the tremendous challenges they have 2021) where we sought to really understand the infection control; Do Not Attempt Resuscitation others a
companionship and advice
faced. We’ve worked hard to inform and advise the depth and breadth of the impact of the pandemic on (DNACPR) orders; end of life care; severe mental live with
to the older people who need
our help the most. We are a Government, NHS England, and other bodies to older people across all our communities. Our latest health conditions and suicide; domestic abuse;
We We provide We improve We deliver We support We work and dementia.
ng together with like-minded charities and other strong voice, campaigning campaign information health and wellbeing the Age UK internationally collectively come up with solutions. Issues we’ve research shows that one in four older people report
anisations enables us to achieve far more for older people. with and for older people to and research and advice care services programmes network advised on include: equal access to medication and that they are living in more physical pain than before
he UK we do so largely through the Age UK network, and champion their rights, needs and services treatment so older people got the help and care they the pandemic, which concerningly amounts to
and wishes. 20 | Report of Trustees and Annual Accounts 2020/21
rnationally through Age International’s membership of the deserved; providing on-going access to social care 4 million people. We will continue to use the findings
pAge global network. We work together with our partners in Supporting Transparency
and support; support and advice for people shielding of our research and what we’re hearing from older
ange of ways, with grant funding an important part of this. For
We are local and the clinically vulnerable; vaccination; PPE and people to advise government ministers, officials, and accountability
mple, we co-design and deliver charitable programmes (see
es 41 to 42), which Age UK receives funding for and makes We work as part of the
infection control; Do Not Attempt Resuscitation others as they prepare for another winter where we
nts available for suitable partners to deliver. In 2020/21 we Age UK network – a
We are driven by our values (DNACPR) orders; end of life care; severe mental live with COVID-19.
ributed £30.7 million (per note 26) in total in grants to other partnership of independent When we work with older people, each other and our stakeholders, our ambition is that: health conditions and suicide; domestic abuse;
anisations (2019/20 £19.9 million) (see pages 148 to 150). charities which includes and dementia.
increase from the previous year is due in large part to the Age UK; our national partners
erosity of the individuals and organisations who donated to Age NI, Age Scotland (and We are focused on what has the most impact on older people.
Coronavirus Emergency Appeal and the funding it enabled us one local Age Scotland 20 | Report of Trustees and Annual Accounts 2020/21 Report of Trustees and Annual Accounts 2020/21 | 21
provide for front line services for older people. partner), and Age Cymru (and
five local Age Cymrus); over
We act together to get things done and achieve more. Accessibility Understandable
120 local Age UKs in England
10
and hundreds of smaller
organisations called Age UK
Friends and Forums. We are bold, unafraid to stand up and do what’s right.
We are
ORGANISATION
Strategy 6 Strategy in action case studies The Crown Estate Annual Report and
Accounts 2021-22

1 2 3 4 5 6 7 Page 51
in annual reports
Strategic report Governance Financial statements Additional information
01-61 62-91 92-131 132-136
Introduction
Aligning to our Group-wide net zero
commitment, in November 2021 we Re-imagining a mixed-use inclusive community
became the pathway partner for the
Retailer/Landlord Net Zero Building
Protocol which launched as part of the
The report includes a ‘Strategy in
NAO’s good-practice principles British Retail Consortium’s Climate
Action Roadmap. This is an industry-led action’ section, which is split by
for annual reports
initiative to get UK retail to net zero by
2040. The protocol sets out a suite of the organisation’s four strategic
principles on energy efficiency and the
use of renewables to help occupiers and business units, with balanced
property owners work together to bring
narrative on how each unit has
Strategy
building emissions to net zero.
performed in-year.
A key focus of the year has been
promoting sustainable travel across our
sites, working with customers and Reporting is supported by detailed
visitors to raise awareness and highlight
Read more online at
case studies that bring alive how
Risks the benefits. In partnership with
managing agent Savills and supported
thecrownestate.co.uk/inclusive-community-2022
the organisation’s activities relate

via its Insight app, we have implemented
sustainable travel plans across the
The opportunity at Cambridge Business Park (CBP) to the strategy.
portfolio, introducing measures such
as bike safety training and free bike is an example of our Regional strategy in action,
Operations maintenance sessions, alongside
infrastructure improvements to facilitate supporting the national need for inclusive
and promote more sustainable modes regeneration and economic development.
of transport for travelling to our
destinations. The plan for Rushden Lakes We see a long-term opportunity to
has been accredited a Bronze level by
“If we are to lead by example,
build a new and inclusive local
tackle these challenges
Governance Modeshift STARS – the first retail and
leisure destination to achieve this
community, facilitating the growth of
our existing customers on the park and and create a resilient new
endorsement. improving their surrounding environment for customers,
environment, while encouraging new the local community, and
Our Recruit Regional programme innovative national industries.
continues to thrive and is now in its sixth Cambridgeshire, our vision
Measures of success year. This year 332 unemployed people

gained employment across our Rushden
CBP is in a strategically important
location within the evolving Cambridge
needs to be shaped by answers
to some big questions.”
Lakes, Fosse Park, The Gate and Area Action Plan (AAP), which if
Silverlink sites. adopted allows for new commercial Lucy Eaton
space supporting 20,000 jobs, 8,000 Business Operations Director, Regional
new homes, 10 hectares of public open
Financial performance space, three primary schools and a
library. Our site is earmarked as the
To respond, and address the local
context and issues, we’ve taken a new
new district centre with development collaborative approach, internally and
potential for 50,000 sq m of externally, to ensure all relevant voices
commercial space, 500 new homes are included from the outset.
and 4,500 sq m for new shops, and
External factors community and cultural facilities. Our internal project team spans the
Regional Mixed-use Regeneration team,
Set against this planning landscape, in and experts from our Insight, Workplace,
creating a vision for CBP we recognise Development, Finance and Digital teams.
that delivering prosperity requires us to Externally, our engagement is framed
address three fundamental points: around inclusivity and the local
Cambridge has some of the highest community. An external critical friend
levels of inequality in the UK, it is a panel covering diverse perspectives has
world-leading science and tech hub been established and we will be liaising
which needs to continue to thrive and, with anyone who will be affected by the
like everywhere, tackling the climate reshaping and repositioning of the
crisis needs to be front and centre of business park.
how we do development.
Through seeking such widespread
opinions, we are focusing on the role we accountability
can play in creating not just a great place,
but long-term social purpose. Our aim at
CBP is to create a new type of
ecosystem, where the community,
science and nature support each other
and flourish; a place that leads
Cambridge and the UK into the future.
11 The Crown Estate Integrated Annual Report and Accounts 2021/22 51
ORGANISATION
Strategy 7 Looking ahead to the next financial year University Hospitals Plymouth NHS Trust

1 2 3 4 5 6 7 Page 19
in annual reports
Introduction

for annual reports
Strategy
Risks
Clearly presented plan with impact/
outcomes/ priorities/ objectives
Operations and enablers outlined.
It is clear to users what the

organisation is hoping to achieve,
Governance why and what it involves.
Measures of success
External factors
accountability
12
Good practice
in annual reports
Risks

• Clear articulation of the organisation’s risk
management process 1 Managing risk within the group
for annual reports
• Risks reflect the external environment and
Strategy implications to the entity
• Linkage between risks, strategic objectives 2 Risk likelihood and impact mapping
Risks and the annual report narrative
• Quantified risks and realistic planned and

Operations implemented mitigations 3 Comprehensive analysis of each principal risk
• Discussion about how the dynamic of

Governance the risk profile has changed over time,
including developments in relation to
specific risks disclosed
4 Consideration of inherent risk
Measures of success
Financial performance 5 Detailed risk management infographic
External factors
6 Depiction of evolving risks
13
SECTION KEY STRENGTH 86
ORGANISATION
Risks 1 Managing risk within the group Nuclear Decommissioning Authority

Governance statement (continued)
1 2 3 4 5 6 Page 86 and 87
in annual reports Our risk management
What we monitor
Introduction Succinct diagram showing readers Group strategic risks

how NDA manages risk within
Risks which could impact on the NDA group and force a fundamental change to the current
the group and provides an insight NDA Strategy and impacts on the mission. Risks that requires pro-active management and co-ordination
NAO’s good-practice principles into the decision-making of the by NDA, with GLT sponsorship and ownership.
for annual reports organisation (page 86).

Our risk landscape What we assess Our impact categories
The table overleaf shows how
Strategy the board structure operates to Current risks
Risks we are managing now
• Risk ownership: each risk has a named
owner.
We assess our risks against
seven key impact categories
manage risk and accountabilities that could stop us achieving • Likelihood and impact: assessed using our • Safety
our strategic objectives. Group PID (probability impact diagram). • Environment
for monitoring and implementing • Control Performance: Assessment of the • Legal
(page 87). effectiveness of our management controls.
Risks NDA ANNUAL REPORT AND ACCOUNTS 2021/22 87
Emerging risks
Risks with a future impact
• Risk appetite: risk assessed against our
• Reputation
• Delivery
level of appetite and required response
from external or internal • Actions: future actions to further reduce • Security
opportunities or threats. our risk exposure. • Financial
These can be slow moving or
have a rapid velocity.
Operations How we monitor
Business risk registers

'
Governance NDA Board Our operating companies identify threats and opportunities to their operations and interdependencies.
These in turn support the development of our Group Strategic Risk Profile.
Accountable to the Secretary of State for all aspects of the NDA’s activities and performance; sets the strategic
framework and direction for operations and is responsible for ensuring high standards of corporate governance
at all times; sets the risk appetite; agrees plans against which NDA performance is measured; and maintains an
appropriate control framework that provides assurances on risk assessments and the application of appropriate
Measures of success controls.
Board committees
Audit and Risk Health Safety Security
Sustainability and
Financial performance Assurance
Provides advice and
Governance
Programmes and Projects
Oversight and scrutiny of
and Environment
Oversight and scrutiny
Oversight and scrutiny of
assurance to the Board risks specific to projects and of risks specific to health,
risks specific to sustainability
on risk, control and programmes. safety, security and
and governance.
governance. environment.
Responsibility for monitoring
Responsibility for implementing

Accounting Officer's Review
External factors NDA operating companies present their top risks and describe their management of them
through the Accounting Officer Review process to ensure their appropriate management.
Group Leadership Team
Routine oversight and monitoring of risks and exposure against risk appetite with onward
reporting to Board committees. Ensuring the risk management framework is acted upon.
NDA Group Risk
Maintains the
Risk Owners and Performance Group Risk Forum NDA Risk Forum
risk management
Sponsors Improvement (GRF) Considers (key)
framework, identifies Are responsible for Interface Team Considers (key) threats and
and shares best ensuring strategic (PIIT) threats and opportunities
practice and provides and group risks Are the main point of opportunities across across the NDA.
oversight and are understood, contact/link between the entirety of the Facilitates
challenge of risk at appropriately the NDA group NDA group, to learning, Supporting Transparency
both NDA and group assessed, actively and the operating develop collaboration knowledge accountability
level. managed, reported companies. They and cross pollination enhancement and
and monitored. provide assurance of risks in line with communication of
and challenge the one NDA way of risk information.
that the operating working ethos. The
companies follow GRF also considers
guidance set by the emerging risks and
group and the NDA. potential new group
risks.
14 Risk appetite
The NDA Board sets the risk appetite for the group.
Risk appetite is a key part of our Enterprise Risk This approach supports effective decision making
Management framework, helping the NDA to and risk escalation. It is embedded within our
Risks 2 Risk likelihood and impact mapping National Highways Annual Report and
Accounts 2021-22

1Financial 2 3View 4print 5 6 Page 41
in annual reports Strategic
report
Operational
report
Governance
report statements
large
version of this report
Our risk approach | Principal risks and uncertainties continued
Introduction Risk likelihood and impact mapping (pre and post-application of control)
Extreme: an existential threat to our organisation, Difficult: a short-term impairment of the delivery of
or an event that could threaten the position of our key objectives
NAO’s good-practice principles company or Department
for annual reports

Undesirable: an unwelcome, but manageable impact
Major: a sustained or material breach of our on the delivery of key objectives
organisation’s responsibilities, or key objectives
Opportunity
Severe: a longer-term impairment on delivery or
Strategy
damage to our organisation’s reputation with key
stakeholders
Shift in likelihood after control has been applied
* No movement
Risks Clear graphical

D e l i ve r i n
nt n et wo rk g be
t ter representation of
re silie e nv
da
nd ir o
nm risk profile (impact
e en
nt
ain ta
lo
and likelihood),
Operations ll-
m
ai ut
co showing change in
e
risk likelihood after
w
m
es
A
controls applied by
8
the organisation.
Governance 8
Me
7
et i
6 This is supported
ll
ng
ra
7 9*
by more narrative
y fo
t he
6
Measures of success detail for each
a f et
nee d
principal risk
I m p r ov i n g s
s of all roa d u se r s
5 5 10 10 (which are mapped
objectives),
Financial performance including
12
12
discussion on
4
4 Almost 14 mitigating actions
3*
External factors (pages 42–47).
certain 13*
(>75%) 11
1
14
2* Likely
1 (51% – 75%) 11
y
ver
d e li
Li c
May happen
nt
(21% – 50%)
en
ie
fic
ce
ef
to
er
op
in
Unlikely v
at (5% – 20%) h ie
e
Ac
Very unlikely accountability
(<5%)
41 National Highways Annual report and accounts 2022 Accessibility Understandable

15
Risks 3 Comprehensive analysis

Key to risk movement: of each principal risk
Public purposes BBC Annual Report and Accounts
Movement in risk during 2021/22
2021-22
Risk has increased in year 1 To provide impartial news and 4 To reflect, represent and serve the
information to help people diverse communities of all of the UK’s
Risk has remained static in year understand and engage with the world nations and regions and, in doing so,
Good practice Risk has decreased in year

around them. support the creative economy across
the UK.
EXAMPLES
1 2 3 4 5 6 Page 111–125
in annual reports 2 To support learning for people of
all ages.
5 To reflect the UK, its culture
and values to the world.
3 To show the most creative,

highest quality and distinctive
output and services.
Introduction Governance
Strategic risks
Our principal risks continued
1. Structural change in audience’s behaviour and the external landscape
Links to the BBC’s
Public purposes
NAO’s good-practice principles What is the risk?
1. Structural
There is a riskchange
that theinBBC
audience’s
does notbehaviour andenough
adapt quickly the external
What is the impact?
as thelandscape continued
Audience levels are not maintained across all BBC platforms. The
and shows how
the risk has moved
for annual reports transition from broadcast TV to online and from radio to digital BBC is not valued by all audiences and/or society and we do not
Digital (including
streaming iPlayer,Video
(Subscription BBC Sounds,
on Demandapps)
SVOD) across all age meet the needs of underserved audiences, including younger in 2021‑22.
— We have a refreshed
demographics andAs
accelerates. updated
the UKuser experience
creative and
industry emerges audiences, nations and regions, and black, Asian and minority
functionality across BBC iPlayer, BBC News Online,
from the pandemic and its associated effects, the long-term ethnic viewers.
Strategy BBC Sounds and BBC Sport Online.
effects of this structural shift may become permanent.
—
HowWeishave made
this risk a series of
managed announcements
(current and plannedrelating to a digital
mitigations)? How has this risk changed during 2021/22?
Panfirst
BBCBBC outlining our plans and ambitions to increase The transition of audiences from broadcast media to online media
— investment
Our Across the intoUK
digital product
strategy and content
is aimed development.
at ensuring the BBC has been a key trend for a decade. Whilst this adoption was initially
reflects, represents, and serves all parts of the country. associated with younger audiences, this is no longer the case, with
Risks — We have put in place a new digital product operating model
under the leadership of a new Chief Product Officer.
Content
increasing consumption for all audiences including older audiences.
— The BBC continues to deliver high-impact content in line with Video: SVOD adoption for over 65s nearly doubled during the
— We will focus this year on investing into platform capabilities
our strategy of delivering value for all audiences. Over the next pandemic; homes that subscribe to two or more SVOD services
that are shared across our product portfolio, such as
12 months, key audience driving events include the Queen’s are rising (up to 65% of SVOD homes in 2021 up from 55%)
personalisation, metadata, and content production tooling,
Operations
Platinum Jubilee celebrations, the 2022 UEFA European although early signs indicate that subscription rates may be
as well as investing in specific skills such as data science and
Women’s Football Championship in England, the Birmingham levelling off. New SVOD services continue to launch.
machine learning.
2022 Commonwealth Games, the 2022 FIFA Men’s World Cup
Audio: Continued shift in listening towards online services with
in Qatar,
— We and the to
will continue return of Radio
improve 1’s which
iPlayer, Big Weekend.
is our top priority for
Comprehensive the year ahead, by giving every user a relevant and rewarding
music streaming and podcasts growing rapidly.
— We will deliver a significant increase in editorial content in
Governance detail on principal experience on every visit, using our expertise in editorial
Bitesize including content for Key Stage 3 pupils and brand-
curation and recommendations to improve content discovery,
risks including new Reception content in English and Maths.
and making further improvements to the user interface.
impact of the — The return of BBC Three as a broadcast channel with
— We will continue to ensure BBC Sounds is available where our
programmes aimed specifically at younger audiences.
risk, how the audiences want to listen, whether it is at home via smart
Measures of success risk is managed, speakers, on the go via mobile devices, or via connected devices
News
— in
Ourthe car. coverage of critical events has continued to bring in
news
how the risk has huge audiences across the Six and Ten news bulletins – both
— We will also continue to improve BBC Sounds with more
changed over the reach more than 12 million adults a week on average.
effective personalisation, curation and search functionality.
year, residual risk — We will also trial making some BBC radio programme podcasts
We will continue in-depth coverage of the Russian invasion
Financial performance available for on-demand listening first on BBC Sounds.
of Ukraine, helping audiences to understand events as they
and how the risk unfold. We will continue to find ways to inform UK and
— We will make local content more accessible on both the BBC
is monitored. international audiences about the conflict, such as the
News and BBC Sounds apps. We will complete the rollout of
recently launched podcast Ukrainecast.
the redesigned and rebranded BBC News app, including a more
External factors personalised service.
Residual risk How is this risk monitored?
There is a residual risk that the BBC is not able to adapt and — Audience metrics including reach, use, breadth, and time spent
accelerate its response to the long-term trend of audiences with the BBC by demographics including younger audiences,
moving from linear TV to SVOD and radio to digital streaming black, Asian and minority ethnic, nations and regions.
services.
— Unmatched viewing (consumption of non-broadcast content
Specifically, we have identified the following to consider e.g. SVOD, gaming content on TV sets).
and/or address:
— Metrics measured across TV, Radio, Sounds and iPlayer.
— Delivery of accelerated response to the digital needs
— Performance and trends discussed at Executive Committee and
of audiences. Supporting Transparency
Board meetings.
— Harnessing and driving value from data e.g., personalisation. accountability
— Making targeted investments into attracting and retaining

digital skills to enhance our product portfolio.
— Enhancing our content proposition for TV, iPlayer, BBC SoundsReturn to contents Governance Report 111
and other digital services.
16
Risk-based
or take action to reduce, transfer or mitigate business planning, to facilitate risk-based
decision
Risk them. The standards required are set out in decision-making. See ‘Our climate-related
making
Risk reporting management our risk policies that all in the business need financial disclosure’ for more information.
SECTION KEY STRENGTH control
and to adhere to. ORGANISATION
Risks 4 Consideration of inherent risk Aviva PLC Annual Report and

Risk monitoring Accounts 2021

1 2 3 4 5 6 Page 1.61
in annual reports
Introduction Types of risk inherent to our business model:
Risks customers transfer to us Risks arising from our investments Risks from our operations and other business risks
NAO’s good-practice principles • Life insurance risk includes longevity risk (annuity • Credit risks (actual defaults and market expectation of • Operational risk is the risk of direct or indirect loss, arising
for annual reports customers living longer than we expect), mortality risk defaults) create uncertainty in our ability to offer a minimum from inadequate or failed internal processes, people
(customers with life protection), expense risk (the amount investment return on our investments. and systems, or external events including changes in the
it costs us to administer policies) and persistency risk • Liquidity risk is the risk of not being able to make payments regulatory environment.
Strategy (customers lapsing or surrendering their policies). when they become due because there are insufficient • Conduct risk is the risk of causing harm to our customers,
• General insurance risk arises from loss events (fire, assets in cash form. the markets in which we operate or our regulatory
flooding, windstorms, accidents etc) and inflation (on • Market risks result from fluctuations in asset values, relationships.
expenses and claims). Health insurance exposes the Group including equity prices, property prices, foreign exchange, • Asset management risk is the risk of customers
Risks to morbidity risk (the proportion of our customers falling inflation and interest rates. redeeming funds, not investing with us, or switching
sick) and medical expense inflation. funds, resulting in reduced fee income.
Operations Aviva plc Annual Report and Accounts 2021

1.61
Aviva explains in simple language
the risks that are inherent to its
Governance business split by how the risks arise
(through customers/ investments
and operations).
Measures of success
Specific risk terms such as credit
risk are expanded to be accessible
to the reader.
External factors
accountability
17
Risks 5 Risk
Detailed risk management infographic
management Barratt Developments PLC
Annual Report and Accounts 2021
In pursuing our strategic priorities to create value for stakeholders, we experience risk. The Board is responsible for the overall
Good practice stewardship of risk management and ensuring the Group maintains the appropriate level of risk to achieve its objectives.
EXAMPLES
1our business,
2 financial3performance,
4 shareholder Page
5 value6and returns, and reputation. Changes in the economic or trading environment
The risks facing the Group, separately or in combination, could have a material adverse effect on the implementation of the Group strategy, 56
in annual reports affect the likelihood and potential impact of risks, and may give rise to new risks.
can
Risk management controls are integrated into all levels and operations of our business and across all our operations, including at site,
divisional, regional and Group level. The roles and responsibilities of the Board, its Committees and all levels of management in the
identification and management of risk are summarised below.
Introduction Risk Risk

Risk monitoring structure
identification management Risk identification
and management
Board Overall
NAO’s good-practice principles responsibility for responsibilities of the
corporate strategy,
board/ committees and
for annual reports
Considers high- governance,
level strategic
Page references risks with input
performance, internal
controls and risk management are clearly
The business continues to operate under
BSC-accredited COVID-19 working
After a review of its
exposure, the Grou
provided in order for Safety,
Sustainability
from independent
experts. Assesses
management.
articulated via The
practices and protocols. a diagram.
risks joint venture and c
Audit Nomination Remuneration Health and Sets risk appetites, associated with the pandemic are principal risk. We w
Strategy the reader to easily Committee Committee Committee Environment Disclosure

Committee
Committee
(Active from
the risks identified by
management against taking into account reducing as the country progresses with with our industry p
Committee its vaccination programme and lifts the opportunities wher
find supplementary
(page 85) (page 79) (page 94) the expectations
FY22) the Group's strategy
(page 91) of shareholders restrictions on its economy. Nonetheless, to all parties and p
and the interests of
information. stakeholders. and other
stakeholders, and
the current public health situation,
the potential for future variants, and
stakeholders.
Reputational risk c
the macroeconomic subsequent economic or operational
from a number of s
Risks context. disruption, remain factored into the
assessment of risk.
external and intern
to the housebuildin
Executive Committee Climate change and the risk of a significant combined or over a
Monitors business Responsible for nationwide unexpected event affecting could create a new
and operational ensuring that the multiple locations have been newly Group actively man
classified as principal risks to the Group. reputational risk b
Operations
performance and Risk Management
Risk changes in key risks. Policy is embedded A study of our approach to climate risk potential impact of
Consideration of risk Committee
Through the Risk
within the business is on page 65. The potential disruption and implementing
management inputs
and appropriate from a significant nationwide event minimise those ris
Safety, Committee, assesses
actions are taken to was made evident from the COVID-19
Health and Treasury ESG risks identified by the
that are specific to the Operations
Committee
Environment
Land
Committee
Operating Steering Group using a defined
manage risk. pandemic, though this also demonstrated
the effectiveness of the Group’s business
Governance audit committee. Operating Committee Committee scoring system based Delegates risk
Committee Technology on the likelihood of the oversight to continuity action plan.
Risk Sub risk materialising and appropriate
Committee the potential impact management
Independent Assurance
on the business. committees.
Whistleblowing
Measures of success Applies specialist
local and professional
knowledge and Responsible for risk
research to identify management and
Regional and Divisional new and monitor control within the
Group functions
Management changes to existing relevant division,
operational and region or group
strategic risks at a discipline.
divisional, regional
and functional level.
External factors Identifies and

assesses operational
risks affecting Maintains an effective
housebuilding system of site-level
Site management, assessments and valuations
activity at a site level, risk management and
including construction, internal control.
sub-contractor and
SHE risk.
56 Barratt Developments PLC Annual Report and Accounts 2021
accountability
18
Risks 6 Depiction of evolving risks Network Rail Limited Annual Report and
Accounts 2021-22
Good practice Strategic report

EXAMPLES
1 2 3 4 5 6 Page 89
in annual reports
Introduction Diagram 3 – Impact of Ukraine conflict on our risk profile

The organisation
has specifically
considered the
NAO’s good-practice principles Risk Event L0 Risks reviewed in Some examples of how impact of the
for annual reports light of conflict we are responding Ukraine conflict
on its risk
Commodity profile, including
Strategy • Monitoring of key supplier
details of how
price increase indicators
• Developing contingency plans
it is responding
Disruption to the areas of
where supply is thought to be
Risks Resource availability
to supply at increased risk
heightened risk.
• Stock management
• A national risk and issue
Operations Logistics disruption triage forum, leading to
consideration of national
solutions where required
Geopolitical instability
Governance
Sustainable • Increased daily monitoring of
Russia - industry Ukraine/Russian cyber-related
Ukraine Sanctions and market finances threats
Measures of success conflict access limitations • Contracted an incident
response retained service for
emergency support to aid in
Financial performance the event of a cyber attack
• Assessed exposure to and use
of software or applications
developed in Russia
External factors Cyber attacks Cyber risk • Enhanced logical security for
technology used by suppliers
working in Ukraine
• Reviewed cyber incident types
associated with the conflict to
assess response plans*
*List of responses is not exhaustive
accountability
Types of risks
All types of strategic risks are managed in accordance with our enterprise risk management framework, tailored as
appropriate for specific risk types.
Safety-related risks
19
Safety is at the heart of everything we do, with our Safety Vision of ‘Everyone home safe every day.’ Risk awareness
is part of the foundations of safety culture. All our staff, not just those on the front line, are encouraged to recognise,
Good practice
in annual reports
Operations

• Discussion of the different delivery models, the
reasons for using these models and how they
for annual reports 1 Timeline of the organisation
achieved value for money
Strategy • Narrative around how business operations

support wider parliamentary objectives
2 Clear statements on what the organisation does
Risks • For significant contracted-out services:
discussion of how these contracts are
awarded and how the entity manages the
Operations ongoing contract 3 Achievements mapped to operating model
• Consideration of capital investment and how it

Governance achieves value for money
Clear infographic of the organisation’s
4 business model
Measures of success
Financial performance 5 Consideration of wider government objectives
External factors
20
ORGANISATION
Operations 1 Timeline of the organisation Central and North West London NHS
Foundation Trust Annual Report and
Accounts 2021-22
1 2 3 4 5 Page 9
in annual reports
Introduction

for annual reports Strategic report
A brief history of CNWL and its statutory background
Strategy 2002
The report Central and North West London NHS Mental Health 2007
Trust was formed, following a merger of three
includes a mental health trusts covering the London boroughs
Risks
CNWL became a Foundation Trust in 2007 –
comprehensive of Brent, Kensington and Chelsea, Westminster and Central and North West London NHS Foundation
Harrow, and addiction services in West London.
outline of historical Trust. In the same year, Hillingdon Child, Family and
Adolescent Consultation Service joined the Trust.
and recent
implementations 2009
Operations 2010
resulting from Enfield Learning Disability Services joined CNWL.
its strategic CNWL took on primary care, mental health
objectives, telling and substance misuse services within a
Governance the story of the 2011 range of prison services.
organisaton. CNWL integrated with community health services

in Hillingdon and Camden including sexual health 2013
services in Camden.
Measures of success CNWL integrated with Milton Keynes
community and mental health services (April).
2016
2017
Financial performance Community Independence Service joined CNWL.
CNWL rated as ‘Good’ by the CQC.
2018
External factors The report CNWL returns to Hounslow to provide addictions 2019
includes services, after a four-year absence
Ealing CCG confirms that West London Trust, in
interesting partnership with CNWL, has been awarded the
graphical layout of 2020 contract to deliver its single contract for community
-based services within the borough. Services to
information that start from June 2019.
CNWL takes on a new addictions service in Milton
is engaging and Keynes and the health service at HMYOI Feltham.
easy for the reader
2021
to consume.
2022 CNWL starts work with partners to deliver
Integrated Care System priorities in every ‘place’ accountability
The Primary Care and Substance Misuse Services
join CNWL’s Health and Wellbeing Team at YOI
Cookham Wood. Liaison and Diversion Services
expand into Harrow Crown Court.
21
stances, using hard and soft levers appropriate to our objectives.
SECTION System
KEY Partner
STRENGTH Supervisor
ORGANISATION
Educating, collaborating,
Operations 2 Clear statements on what the organisation Supervision
does and monitoring
Financial Reporting Council Annual
and supporting continuous of requirements, culture
improvement and behaviours Report and Accounts 2021-22
The four faces
Good practice Facilitator Enforcer
EXAMPLES
Encouraging
1 2 good3 4 5 Page
Investigating conduct and14
in annual reports practice through applying proportionate
structured engagement sanctions and directions
Introduction What we do
Regulatory Standards Supervision

NAO’s good-practice principles • Lead the development of public and • Deliver our statutory responsibilities
for annual reports technical policy, informed by influential for corporate reporting review and as
investor and stakeholder engagement. the Competent Authority in respect of
• Set Codes, standards and guidance that statutory auditors and the audit market.
Strategy support high-quality corporate reporting, • Monitor the application of corporate
Concise summary corporate governance and stewardship, reporting and audit standards, and hold
of what the and audit and actuarial work. to account those that fail to meet these
organisation • Drive innovation in the public interest for standards.
Risks our stakeholders. • Promote improvements and innovation in
does, followed by
comprehensive • Influence international standard setting corporate reporting and auditing work.
discussion of and collaborate with other regulators. • Promote a more resilient audit market.
Operations the programmes
and deliverables Enforcement Corporate Services
undertaken
in each area, • Drive the application of high standards • Support the regulatory divisions by
Governance supplemented by in corporate reporting, auditing and providing a robust and resilient framework
actuarial work through proportionate and for the delivery of FRC’s wider objectives.
case studies.
risk-focused enforcement action where it • Support the FRC’s transformation to
is in the public interest. a modern, forward-looking regulator
Measures of success • Promote improvements and innovation in as a trusted partner and adviser to the
these areas by communicating clear and business and through our partnership
impactful messages through enforcement with BEIS.
Financial performance cases and publications, and through the
setting and monitoring of effective non-
financial sanctions.
External factors FRC | Annual Report and Financial Statements for the Year Ended 31 March 2022 14
accountability
22
ORGANISATION
Operations 3 Achievements mapped to operating model UK Atomic Energy Authority Annual

1 2 3 4 5 Pages 20 and 21
in annual reports
Introduction The UK Atomic Energy

Overview Overview
PERFORMANCE REPORT PERFORMANCE REPORT Authority utilises

two pages to link the
for annual reports
OUR OPERATING MODEL operating model to
UK outcomes throughout
UK Government Strategic Partners Our people UK Public
the year.
Strategy What we do
UK
What we did in 2021/22

Our operating model UK Academia UK Industry and Suppliers Customers and Tenants Local Community
Research and Development

enables us to progress ▶ Produced globally impactful results in a number of key areas, including plasma physics, materials science, tritium, and robotics
Experimentation, modelling and engineering producing knowledge to
our mission and advance fusion and related fields. ▶ Major presentations at international conferences including the prestigious IAEA fusion energy conference
defines our approach Research & Tokamak Facility Operation Training and
Risks
Development Operations and Management Next Generation
to delivering on our
UK Academia UK Industry and Suppliers Customers and Tenants Local Community
Tokamak Operation
strategic objectives. Operating and managing two tokamak machines on Culham campus: ▶ Ran first experimental campaign on MAST Upgrade
It is designed with a JET, operated under contract to the European Commission; and MAST ▶ Delivered a fusion energy output of 59MJ over a 5 second pulse on JET, more than doubling the previous
Upgrade, the UKs new and novel spherical tokamak. world record for energy output
focus on:
Research & Tokamak UK
Facility Operation Training and
Site Management
& Development
▶ The safety and wellbeing

of our staff
UK Government Strategic Partners Our people
Supporting National and International Science
UK Public
Operations
▶ Contributed to and led international scientific teams in EUROfusion
Contributing to and leading teams in domestic and international
▶ The delivery of our major ▶ Collaborated with and supported universities across the UK, including PhD supervision
collaborations in fusion science and engineering and adjacent fields.
Performance
Performance
R&D programmes UK
Site Management
& Development
▶ Support and development UK Academia UK Industry and Suppliers Customers and Tenants Local Community UK
for our business units Facility Operation and Management

▶ Transitioned fully to Hybrid Working
Operating the RACE and MRF business units, and developing the Fusion Technology
▶ High quality and robust
▶ Became operational at our Fusion Technology Facility in South Yorkshire, with 45 UKAEA staff members based there
and H3AT facilities, providing unique capabilities for us and our stakeholders.
assurance across all of our
Governance
Research & Tokamak Facility Operation Training and
activities
UK Academia UK Industry and Suppliers Customers and Tenants Local Community
UK Academia UK Industry and Suppliers Training the Next Generation

Customers and Tenants Local Community
▶ 334 new employees
Developing skills for the future fusion sector through the Oxfordshire ▶ 210 colleagues were promoted
Advanced Skills apprentice training centre, our graduate scheme, and ▶ 112 apprentices in total employed at UKAEA, 29 apprentices joining in 2021/22
▶ 85 graduates within the workforce
Development Operations and Management
Site Management
& Development
Next Generation
PhD students.
Measures of success Site Management

& Development
Campus Development and Site Management
Managing the Culham campus for UKAEA activities and tenants, and
▶ Shortlisted 5 sites for the STEP demonstration power plant
▶ Doubled the footprint of our Materials Research Facility
public share of the Harwell campus Joint Venture, alongside UKRI.
How we do it
Site Management
& Development
Safety Assurance People Funding Expertise Partnerships

Financial performance Safety is our highest priority As we design and develop new To achieve our mission, we need Our major sources of funding are Our work is state-of-the-art and We cannot deliver fusion energy
and UKAEA operates with a technology, plant and processes it is diverse and talented people from the UK Government, through demands a varied range of skills. in isolation, and engagement with
robust safety culture, supported essential that we achieve high standards working in an environment our sponsor department BEIS In areas where skills are highly external partners in industry and
by a certified health and safety of quality and governance in the work we that challenges and stimulates and the Engineering and Physical specialised our technical resource academia, both domestic and
management system, underpinned do. This includes acting in a responsible innovation and produces future Sciences Research Council fusion is embedded within teams. In other international, is key to our delivery.
by integrated risk management and and ethical manner with our partners leaders in fusion. We support and grant. areas, we operate a centralised
External factors control, with top down leadership,

a dedicated safety team and expert
and supply chain, adhering to our values
with appropriate governance of risk. Our
develop staff, and manage our
talent pipeline, with a dedication to
resource management to ensure our
programmes deliver efficiently and
individuals authorising operations. research is conducted in line with UKRI equality, diversity and inclusivity. effectively.
guidelines and open data policies.
20 Annual Report and Accounts 2021/22 United Kingdom Atomic Energy Authority United Kingdom Atomic Energy Authority Annual Report and Accounts 2021/22 21
The How we do it Supporting Transparency

accountability
section shows how
operational models
are implemented
thematically
23
ORGANISATION
Operations 4 Clear infographic of the organisation’s National Highways Annual Report and
business model Accounts 2021-22

1 2 3 4 5 Page 17
in annual reports
Introduction Strategic Operational Governance Financial View large print

report report report statements version of this report
How and why we do business | Our business model

NAO’s good-practice principles National Highways’
business model is
for annual reports Our We operate, maintain and improve England’s motorways
and major A-roads, and we exist to connect the country. clearly articulated and
business We believe that connecting people builds communities,
connecting families with places creates memories, takes into account
Strategy model connecting workers with jobs creates opportunities the organisation’s
and connecting businesses helps the nation thrive. stakeholders and its
enabling factors.
Risks What we do
Operations Plan Design Build Operate Improve
Governance Collaboration
Who we impact
Measures of success
Customers Government Communities Our people Supply chain Environment
External factors What we rely on
Financial Human Intellectual Social Manufactured Natural

We invest public We have a diverse We have expertise We use Technology helps capital
funds in our workforce, whose and experience in partnerships and us manage the We use our
network to deliver commitment developing and our supply chain to changes in the expertise to
our agreed enables us to running a complex understand local way we design, protect, manage
objectives. deliver road network. community needs deliver and operate
schemes and and to support road infrastructure.
and improve the Supporting Transparency
environment.
customer service our delivery. accountability
improvements.
Effort has been made
to make the document
We map our resources and relationships to the capitals of the Value Reporting Foundation’s Integrated Reporting
Framework. Find out more at integratedreporting.org
interactive and there
are links to further
information sources.
17 National Highways Annual report and accounts 2022
24
We continue to join up the academic, business, policy and investor communities to make the UK the best place in the
world to innovate and invest.
This year we: ORGANISATION
Operations 5 Consideration of wider government objectives UK Research
■ helped set out a compelling role for research and innovation within the Levelling-Up White Paperand Innovation
through close Annual
partnership working with BEIS. Report and Accounts 2021-22
■ supported innovation-led regional economic growth, and enhanced local collaborations, including through the
Good practice Strength in Places Fund (SIPF), delivered by Research England and Innovate UK in partnership with the Office for
EXAMPLES
1 2 3
Students 4
and the 5 Page 46
higher education funding bodies of Wales, Scotland and Northern Ireland, as well as through a
in annual reports range of UKRI programmes, including the Prosperity Partnerships delivered by EPSRC, NERC’s RISE programme,
Innovate UK’s network of regional engagement managers, ESRC’s Local Acceleration Fund, STFC’s network of
research infrastructures, and AHRC’s Place Programme.
Introduction

for annual reports
Strategy
Risks The annual report 583

includes a geographic
location map combined
Operations with a colour-coded
scale to clearly illustrate
220
the distribution of 123
482
awards made. £ per person % of local GVA
Governance 422
The narrative 28 67 0.1237 0.2489
supporting the graphic

298
explains the role the
Measures of success organisation plays 353
167 488
in the government’s
levelling-up agenda 1,150
Financial performance and therefore how the 775
information portrayed 421

By region and nation, using International Territorial
aligns to wider Level 1 (ITL), lifetime value and number of new UKRI
government priorities. awards made in 2021-22 (left), and lifetime value
External factors £ million of new awards made in 2021-22 as a proportion of
local Gross Value Add (GVA) (centre), and by local
population (right).
99m 577m
■ The dataset comprises awards made in 2021-22 through competitive funding opportunities by Research Councils,
Innovate UK and Research England. The distribution of new awards is similar to 2020-21. Organisations in the London
region received 21% of new awards, a decrease from 23.5% in 2020-21, with smaller changes across other regions. Transparency
Supporting
accountability
UK RESEARCH AND INNOVATION 46
25
Good practice
in annual reports
Governance

• Narrative which clearly demonstrates the
governance structure and tone at the top 1 Board skills matrix
for annual reports
• Transparent information about how the Board
Strategy works effectively to govern the organisation
2 Referencing external information

Risks
Operations 3 Governance structure by risk
Governance
4 Governance at a glance
Measures of success
External factors
26
major investors. When Mark Clare and Stephen Carter
representation on each committee. Furthermore, it is
step down from the board at the annual general meeting,
satisfied that the membership of the audit committee
the measurable targets of at least 40 per cent female
is in accordance with provision 24, and that the representation on the board and one director from an
membership of the remuneration committee is KEY in STRENGTH
minority ethnic background will be met. On the board at ORGANISATION
SECTION
accordance with provision 32. 31 March 2022, female representation was 30 per cent and
Governance 1 Boardthere
skills matrix
was 10 per cent representation by a director from United Utilities Group PLC Annual
Board diversity
The board diversity policy is to “ensure the selection a minority ethnic background. Amongst the workforce, Report and Accounts 2021-22
process for board appointments provides access to a employees from a minority ethnic background represented
range of candidates. Any appointments will be made on 2.7 per cent (9 per cent of employees choose not to
disclose). We recognise the benefits of diversity across
Good practice the basis of merit and objective criteria, and within this
our business with initiatives in place to support women
context, should promote diversity of gender, social and
EXAMPLES
1 2 in the3
workplace4 and tackle the ethnic imbalance of our Pages 133 and 134
in annual reports ethnic backgrounds, cognitive and personal strengths,
workforce, thereby aligning with our strategic theme
GOVERNANCE
but with due regard for the benefits of diversity on the
board, including gender diversity.” The objective of the of operating our business in a responsible manner (see
policy is for new directors to bring something different page 12).
Introduction Skills matrix of board directors

Sir David Steve Phil Louise Mark Liam Stephen Kath Alison Paulette Doug
What has been on the committee’s agenda
during the year?
Composition, success
3
Higgins Mogford Aspin Beardmore Clare Butterworth Carter Cates Goligher Rowe Webb Board succession
The succession planning matrix tool and skills matrix
and evaluation
Finance/ (see page 134) for board directors is used to support
accounting
for annual reports the planning process for board appointments. The
skills matrix captures the skills and experience board
Utilities directors’ need as a collective, to be able to deliver the
company’s purpose and strategic themes. The succession
Strategy Regulation planning matrix tool highlights the code governance
Principle J: The board is satisfied it has requirements; existing directors’ terms of appointment
Appointments to the board applied principle J. An explanation and a forecast/anticipated time frame when an individual
Government
should be subject to a formal, of the board appointment and might leave the business; the projected strategic needs
Risks Construction/ rigorous and transparent
procedure, and an effective
succession planning activities can
be found on pages 133 to 134 and
of the business and resulting preferred experience of
engineering any potential new board member; existing potential
succession plan should be forms our disclosure as part of internal successors to a role (where identified) and those
Industrial maintained for board and provision 23, our policy on board who could act as an interim should the need arise. A
senior management. Both diversity is on set out below and candidate suitable for the role of CEO would need to
Operations Customer- appointments and succession details of the gender balance of demonstrate that their management approach would fit
facing plans should be based on merit senior management on page 134. with the company’s culture of behaving responsibly. The
and objective criteria and, within Information on the company’s committee would seek to consult with the incumbent
this context, should promote approach to diversity, equality CEO, given his unique knowledge and perspective of
FTSE
Governance companies
diversity of gender, social and and inclusion is set out on pages the group, on his view of the needs of the business
ethnic backgrounds, cognitive 44 to 45. Our disclosure against going forward. Neither the Chair nor the CEO would be
and personal strengths. provision 20 is on page 133. involved in the appointment process of their successor.
Digital/
technology Board succession – non-executive
Measures of success Principle K: The board is satisfied it has In line with the board succession plan, and the
ESG The board and its committees applied principle K. Biographies approximate timescales therein, the process of the
should have a combination of the board can be found on appointment of Liam Butterworth as an independent
Current CEO/ of skills, experience and pages 112 to 115. An overview of non-executive director was undertaken during the year
Financial performance CFO of FTSE knowledge. Consideration directors’ areas of expertise is set The narrative
with a view to replacing explains
Mark Clare as he approached
350 * should be given to the length out in the skills matrix on page 134 almost nine yearshow theboard.
on the skillsThe
matrix
committee is
Former CEO/ of service of the board as a and the length of service of board supported during is any
used.non-executive director recruitment
CFO of FTSE whole and membership regularly members on page 132. Board process by the customer services and people director,
External factors 350 refreshed. biographies include our reporting
against provision 18.
Louise Beardmore, as part of her human resources
responsibilities. The executive search firm Lygon Group
were engaged as part of the recruitment process.
* Excludes UU
Principle L: whether each director continues Board succession – executive
United Utilities Group PLC Annual Report and Financial S

134 Annual evaluation of the board
unitedutilities.com/corporate
to contribute effectively. As stated above, the committee sought the views of
should consider its composition, Steve Mogford on the attributes of the candidate best
The board is satisfied it has
diversity and how effectively placed to succeed him in the CEO role, but he was not
The organisation uses
members work together to
applied principle L. Details of the
involved in the final decision. The Chair, supported
a skills matrix to
achieve objectives. Individual
board evaluation and disclosure
by the company secretary, led the process to identify
against provision 23 can be
supportevaluation
how board should demonstrate
found on pages 135 to 137. suitable candidates for the CEO Supporting Transparency
role and the executive
appointments are search firm Lygon Group wereaccountability
engaged as part of
made, ensuring the recruitment process, having demonstrated, of
Summarythere
of the board diversity policy the executive search firms considered, that they had
is a sufficient balance
• Ensure the selection process for board appointments provides the best understanding and knowledge of the group
of skills to lead
accessthe
to a range of candidates. Any such appointments will be and its culture. Against the brief for the role, Lygon
organisation made on the basis of merit and objective criteria, and within this
effectively. Group undertook the internal appraisal process for a
context should promote diversity of gender, social and ethnic number of internal candidates and identified a number
backgrounds, cognitive and personal strengths. Accessibility Understandable
of potential external candidates for the committee to
27 • Ensure that the policies adopted by the group will promote consider. Louise Beardmore, in relation to her human
diversity in the broadest sense among senior managers who will in resources responsibilities, had no involvement in the
turn aspire to a board position. process other than being an internal candidate.
• Ensure that the board, led by the Chair, collectively fosters an inclusive
Governance 2 Referencing external information Office for Legal Complaints Annual

Good practice Performance

EXAMPLES Report Accountability Report Financial Statements Appendices
1 2 3 4 Page 65
in annual reports
Introduction Governance framework and management structure

Parliament The governance
for annual reports
section highlights focus
iament areas and activities of
Strategy Ministry of Justice each board.
It also uses a diagram

to call out 1st, 2nd and
Risks Legal Services Board 3rd lines of defence,
with links to the
Audit and Risk Assurance Committee separate governance
Board Remuneration and Nominations Committee framework document
Operations Category 1 Publications Committee published on their
OLC Board Committees
Performance and Quality Task and Finish Group external website.
Referencing external
Governance materials allows the
LegaPlan
Business l SerProgramme
vices BoaBoard
rd report to be shorter
Executive Operations Management Team in length and focuses
Chief Ombudsman Committees and sk and Finish Group the reader on the key
Measures of success Management
Equality, Diversity and Inclusion Steering Group
information only.
(Accountable Person) Information Security Forum
Committees
Command Team
Management Team
External factors
Quality
Quality Risk
Core
Core Internal External
assurance
assurance management OLC
business
business (service REMCO ARAC audit audit
functions
functions
(service (coordinated Board
compliance)
compliance) assurance) (GIAA) (NAO)
F i rs t l i n e o f Second line of
Third line of defence
defence defence
accountability
The OLC is a statutory body accountable to both the Ministry of Justice and the Legal
Services Board. The Tripartite Operating Protocol, updated in 2020, sets out how the
MoJ, LSB and OLC will work together to discharge their respective responsibilities.
The OLC Board is accountable to the LSB for its administration of the Legal Accessibility Understandable
28 Ombudsman scheme, and the LSB is in turn accountable to the Lord Chancellor (MoJ)
for the performance of its statutory duties, including those which it has in relation to
Governance 3 Governance structure by risk University Hospitals of North

Midlands NHS Trust Annual Report
and Accounts 2021-22
1 2 3 4 Page 46
in annual reports
Introduction
Our Trust Policy for Data Protection, Security and Confidentiality sets out a high level framework to
NAO’s good-practice principles preserve the security of information and information systems, including confidentiality, integrity
for annual reports and availability. The Trust Policy for Data Protection, Security and Confidentiality is just one of a
number of policies in place to ensure the governance of information.
The structure illustrated here sets out our governance arrangements for data security and protection, from
Strategy
wards and departments through to the Trust Board. This is integral to our broader Corporate Governance
Structure.
Risks
The report includes
visual displays of how
Operations governance relates
to decision-making
areas, such as quality
governance and risks
Governance to data security.
Measures of success
External factors
accountability
Risks to data security are managed in accordance with our Risk Management Policy, with risks scoring 12
or above being scrutinised and monitored by the Executive Digital Data Security and Protection Group
which is chaired by the Medical Director / Caldicott Guardian, with the Senior Information Risk Officer
(Director of Digital Transformation) being a key member. Accessibility Understandable
29 Breaches in data security are classified as an adverse incident and are managed in accordance with our
Incident Reporting Policy. These are also escalated through to the Executive Digital Data Security and
Protection Group. This group is also responsible for monitoring compliance with the Data Security and
Governance 4 Governance at a glance The Office of Communications (Ofcom)


1 2 3 4 Page 81
in annual reports
Introduction SECTION B | ACCOUNTABILITY REPORT | GOVERNANCE
NAO’s good-practice principles GOVERNANCE AT A GLANCE

for annual reports The governance section is
well thought through using a
TENURE OUR BOARD ACTIVITIES ‘Governance at a Glance’ page
Strategy in role 5 to portray key information, which
2 is then supported by narrative
Chair, NED, Chief Executive and
Executive Board Member updates that includes:
36%
Risks Supporting UK broadcasting
• h
ow board appointments
4 15% are made and recognition
Preparing to regulate that diversity of the board
Online Safety requires improvement
Operations Key
8%
(page 76);
Under 3 years 3-5 years 5+ years
Regulatory, Finance, Risk
and Legal • d
etailed explanation of the
8% activities the board carried
Governance DIVERSITY
of the Ofcom Board Getting Everyone Connected out during the year (page
7% 84); and
Gender
Strengthening Ofcom for the
50% 50% future • transparent recommendations
Measures of success Male Female 7% as a result from the board
Ethnicity
Corporate Governance effectiveness review (page 85).
6%
100%
Financial performance White Ethnic
Continuing to innovate in
regulation
4%
Disability
Fairness for customers
3%
External factors 100%
Not Disabled
Sustaining the universal
postal service
2%
Investment in strong, secure
networks
2%
Other (including Covid-19
pandemic, market research
and briefings)
2% accountability
Ofcom Annual Report and Accounts 2021/22 ofcom.org.uk 81

30
Good practice
in annual reports
Measures of success

• Quantified key performance indicators (KPIs)
aligned to strategic objectives 1 Clear statements of performance against targets
for annual reports
• Balanced assessment of goals achieved and
Strategy performance against targets
Explanation of why certain KPIs are not
• Graphics used to illustrate performance 2 carried forward
Risks
Operations 3 Financial and non-financial performance measures
Governance
4 Performance summary page
Measures of success
External factors
31
Measures of success 1 Clear statements of performance against targets NHS Resolution Annual Report and
Accounts 2021-22

1 2 3 4 Pages 46–51
in annual reports
46 Performance analysis NHS Resolution Annual report and accounts 2021/22
Introduction
Key performance indicators
for annual reports Our KPIs provide an objective assessment of our operational
performance and cover all areas of our operations.
There is an explanation
Strategy We annually review these to help us to Over the year our Board and Workforce Strategy
as to how KPIs are
continuously develop our services. At a high level, Group monitored a variety of workforce indicators,
our KPIs provide assurance to our Board and including establishment levels, employee turnover,
determined, and how
to DHSC that we are conducting our business recruitment, sickness absence, levels of pay, and equality they are used by the
Risks as intended and as we are funded for. and diversity statistics, to ensure that the associated business in supporting
HR issues flowing from our business were properly day-to-day operations.
Our KPIs are agreed by our Board and DHSC and managed. We use a red, amber and green (RAG) rating
published annually via our business plan. This annual to show which KPIs we have fully met, came close to
Operations report addresses performance against our 2021/22 meeting (within 10% of target) and failed to meet.
business plan. The target measures for some of our
internal claims KPIs are confidential as publication
could prejudice the effective management of claims.
Governance 48 Performance analysis NHS Resolution Annual report and accounts 2021/22
Measures of success
Resolution Intelligence
No. KPI description Area Target Met No. KPI description Area Target
The KPIs cover a number of
To respond to a letter of claim involving a clinical/non-clinical Not Healthcare Professional Alert Notices issued/released
1
matter within the pre-action protocol period
Claims Internal
met financial
16 and non-financial
(where justified) within target working days
Advice 90% M
measures including accuracy of

To respond to a letter of claim within the timeframe agreed Healthcare Professional Alert Notices revoked
External factors 2
between the parties
Claims Internal Met budget 17and (where
overall approval
justified) within rating.
seven working days
Advice 90% M
They are organised into clearly
Time to resolution from claims decision to agreement of Not
3
damages
Claims Internal
met
defined categories and there is a
clear statement on whether the KPI
4
The volume of cases that are repudiated initially with a
Claims Internal Met has been met. Where KPIs have not
subsequent payment agreed
Intervention
been met there is further narrative
5
Reduction in the volume of cases which enter formal court
Claims Internal Met to explain the reasons.
proceedings
No. KPI description Supporting Transparency
Area Target
The movement in the financial reserves placed on a claim is
6 Claims Internal Met accountability
managed within a target range
Positive feedback from scheme members and Safety & At least
18 M
7 Data accuracy Claims Internal Met beneficiaries visited on recognition of products Learning 60%
‘First step’ letters sent out within seven days of receiving the Response to scheme members and beneficiaries
8 Appeals 90% Met 19 no data no data M
appeal or dispute bulleted as below
Appeals or disputes where 14 or more days’ notice of hearing • 95% response rate to scheme members and beneficiaries Safety &
19a 95% M
9 Appeals 100% Met Accessibility
following a request for contact within three working days Understandable
Learning
has been given
32 • Participation in 18 regional engagement events for
Appeals where decision maker agreed with recommendation Safety & 18
10 Appeals 80% Met 19b scheme members and beneficiaries which include M
of case manager Learning events
two national sharing and learning events
efinition Definition Definition Definition Definition Definition
st savings are permanent This is our measure of our ITV Studios total revenue This is the key profitability Total high-end scripted hours is The Studios business
vings to the business. In 2020 effectiveness of cash generation measures the scale and success measure used across the ITV an important measure of the on maximising unscri
d 2021, this also includes used for working capital SECTION KEYof our global studios business.
STRENGTH Studios business. The profile of success of our strategy to grow
ORGANISATION value by both protect
mporary savings as a result of management. It is calculated It includes revenues from adjusted EBITA margin differs our global scripted business. expanding existing fo
e COVID-19 pandemic.
Measures of success
as our adjusted cash flow as a
2 Explanation
programmes sold to M&E,
of why certain KPIs are not carried
for production and distribution
ITV Annual Report
High-end scripted hours include
and Accounts 2021
creating new formats
anaging our cost base is key as proportion of adjusted EBITA . 1 forward
which as an integrated producer activities, and further varies with new commissions or returning internationally. A goo
e aim to run our business as Adjusted cash flow1 , which broadcaster,
Strategic is an
Report | Key important
Performance Indicators each production due to genre,
part (KPIs) continued franchises that have a higher cost of international succe
ficiently as possible and fund reflects the cash generation of our business. customer type and maturity. per hour than continuing drama. a format is commissio
Good practice
vestments in line with our of our underlying business, is Performance Adjusted earnings before These high-end scripted hours three or more countr
EXAMPLES
1 2 Financial3 4 Pages 26–31
in annual reports
rategic priorities. calculated on our statutory cash Strategic Report Governance Statements
ITV Studios total revenue grew interest,
Additional tax and
Information amortisation are sold to global streamers, pay year. Spin-offs such a
erformance generated from operations and 28% to £1,760 million, despite (EBITA) is calculated by adding platforms or free-to-air the Chasers are consi
e delivered £48 million of cost adjusted for exceptional items, ongoing COVID-19 challenges in back exceptional items and broadcasters, where they are distinct to the origina
vings in 2021. Of the cost net of capex on property, plant the production of both scripted including high-end production expected to perform well with (i.e. The Chase) for the
Introduction KPIs previously set out for three years totax 2021credits . It reflects the viewers in their domestic market, of this indicator.
vings achieved, £37 million are and equipment and intangible A transparent approach and unscripted content.
2
In 2018, we set targets or strategic ambitions for our KPIs for three years to 2021 (where appropriate to do so). Those not set out in our
rmanent and £11 million are assets, and including the cash has been taken to KPIs underlying performance of the as well as having international Performance
newTotal
KPIsorganic
have been revenue
includedat for reference below. Across 2020 and 2021, the performance of all our KPIs and the delivery of corresponding
impact of high-end productionwhich have evolved business and provides a more distribution appeal.
mporary savings. This was targets
constanthavecurrency (whichby the COVID-19 pandemic. Further detail is included below and within our Operating and Financial The number of forma
been impacted
NAO’s good-practice principles tax credits. Performance Review. These meaningful comparison of how Performance
ead of the target of £30 year-on-year. There is excludes acquisitions andwill not be included going forward. in three or more coun
for annual reports
llion permanent cost savings, Performance a clear statement assumes exchange rates remain
the business is managed and The number of high-end scripted increased to 15 forma
hich is due to phasing. measured on a day-to-day basis. hours produced by ITV Studios formats that have so
Profit to cash conversion was that explains why consistent with 2020) was up
ITV Group The margin is calculated based increased by 56% to 175 hours or more countries inc
nce 2019, we have delivered 80% in the year. This was due to some KPIs will not 31%. There was a £40 million
umulative £83 millionStrategy
of record advertising revenues in be carried forward. unfavourable currency impact
on ITV Studios total revenue. driven by growth in UK high-end Love Rule, The Voice G
rmanent cost savings. In 2022, 2021 and tight working capital in the year. Performance scripted hours, with for example and Beat the Chasers
Total non-advertising revenues
e will deliver around £17 million management. This was partly ITV Studios adjusted EBITA Grace and The Tower; and new
permanent cost Risks savings, with offset by the unwinding of the margin was 12% (2020: 11%) and US titles such as Physical and Ten
2021 Non-advertising revenue grew 24% in 2021 to £2,085 million, largely driven by the improvement in ITV Studios total
working capital benefit from Expand continues to be impacted by Year Old Tom.
£2,085m
tal cumulative cost savings revenue by 28% to £1,760 million, despite ongoing COVID-19 challenges. Subscription revenue was also up 56% to
around £100 million. 2020, which had a significant UK and global production incremental
£42 million, driven by growth in costs
BritBoxassociated
UK and ITV Hub+. Other M&E revenue was up 2% to £213 million driven by
with NAR
social distancing guidelines
e will deliver an additional
Operations
0 million of permanent cost
working capital inflow arising
from a reduction in programme
+24%
on 2020
growth in third-party
strong growth inand2020.
commission from
health and safety protocols
STV, partly offset by a decrease in competitions revenue following
vings by 2026. In total, we stock (where we delivered in productions.

ITV Studios total ITV Studios adjusted Total high-end scripted Number of formats sold in
ll deliver £150 million of programmes but were unable
ofit to cash conversion 1
revenue growth 2
EBITA
Expand margin % 2
hours three or more countries
rmanent cost savings Governance to continue producing due to UK and global production
tween 2019 and 2026. the COVID-19 pandemic) and
finition the timing of VAT payments Definition Definition Definition Definition
Total production hours
is our measure of our which were deferred to the ITV Studios total revenue This is the key profitability Total high-end scripted hours is The Studios business is focused
ctiveness of cashMeasures
generation of success first half of 2021. measures the scale and success measure used across the ITV an important measure of the on maximising unscripted
2021 The number of hours of content produced by ITV Studios declined by 6% to 6,700 hours. This was largely driven by
d for working capital of our global studios business. Studios business. The profile of success of our strategy to grow value by both protecting and
6,700 hrs
a reduction in high volume unscripted titles, in particular in the Netherlands.
nagement. It is calculated It includes revenues from adjusted EBITA margin differs our global scripted business. expanding existing formats and
This is below the original target of 10,000 hours as the mix of programmes delivered has changed and we have increased
ur adjusted cash flow as a 2021 2021 2021 scripted hours include 2021 2021
programmes sold to M&E, for production and distribution High-end scripted programmes.creating new formats that travel
-6%
80% £1,760m 12% 175hrs 15 form
portion of adjusted EBITA1 . which as an integrated producer activities,on and
2020further varies with
our focus on higher value,
Forlower-volume
new/
new commissions or returning
retained
internationally. A good measure
KPIs, trend analysis is
usted cash flow1 , which broadcaster, is an important part each production due to genre, franchises that have a higher cost of international success is when
provided with clarity on
ects the cash generation
External
ur underlying business, is factors
of our business.
Performance
+28%
customer type and maturity.
Transform on 2020
Adjusted earnings before
+1% point
per hour than continuing drama.
how long targets
These high-end scripted hours
on 2020 are +56%
a format is commissioned in
on 2020
three or more countries in the
+1 format on
Broadcast (M&E) expected to apply for.
ulated on our statutory cash ITV Studios total revenue grew interest, tax and amortisation are sold to global streamers, pay year. Spin-offs such as Beat
mbition
erated from operations and Ambition Ambition
(EBITA) is calculated by adding Ambition
platforms or free-to-air theAmbition
Chasers are considered Ambition
28% to £1,760 million, despite Total advertising revenue
years to 2026
sted for exceptional items, 5 years to 2026 5 years
back to 2026 items and
exceptional Return to 13%
broadcasters, where tothey
15%are range 5 yearsto
distinct tothe
2026
original format 5 years to 2026
ongoing COVID-19 challenges in
eliver
of capex £150 million plant
on property, Maintain at around 85% the production of both scripted Grow
including on average
high-end at least
production from 2023
expected to onwards
perform well with Grow
(i.e. The to
Chase)400 forhours
the purpose Grow to 20 forma
2021 Total advertising revenue grew 24% to £1,957 million, the highest in ITV’s history. There was strong growth in online
£1,957m
permanent
equipment andsavings
intangible and unscripted content. 5%
tax per annum
credits 2
from
. It reflects the2022AVOD revenues, viewers
up 41%, in their
along domestic
with market,
growth across of this indicator.
all other advertising categories including NAR, sponsorship and
ets, and including the cash underlying performance of the as wellrevenues.
creative partnerships as having international
Compared to 2019, TAR was upPerformance
11%.
Total organic revenue at
act of high-end production 2018 88
constant currency (which
business
2018
+24%
and provides a more
on 2020
meaningful comparison of how
1,678 distribution
2018 appeal. 15 The number of formats163
2018 sold
Supporting 2018
Transparency
credits. excludes acquisitions and Performance in three or more countriesaccountability
2019 87 2019
formance the business is managed and 1,830 2019
The number of high-end scripted
15 2019
increased to 15 formats. Recent
223 2019
assumes exchange rates remain Online revenue growth basis.
measured on a day-to-day hours
2020 produced by ITV Studios formats that have112 sold in three
fit to cash conversion was 2020 consistent with 2020) was up
138 2020 1,375 11 2020 2020
The margin is calculated based increased by 56% to 175 hours or more countries include Let
% in the year. This was due to 31%. There was a £40 million 2021 Online AVOD revenue continued to grow strongly, up 41% in the year. Since 2018 we have delivered a CAGR of 26%, in line
2021 80 on2021
ITV Studios total revenue. 1,760 2021 12 2021 175 2021
41%
ord advertising revenues in unfavourable currency impact with our targetdriven by growth
of delivering in UK growth
double-digit high-end per annum overLove theRule, The Voice Generations
period.
1 and tight working capital in the year. Performance scripted hours, with for example and Beat the Chasers.
nagement. This was partly
atutory results is provided in the APMs on page 59. 33
ITV Studios adjusted EBITA Grace and The Tower; and
2. A full reconciliation between our adjusted and statutory results is provided in the APMs.
new
et by the unwinding of the margin was 12% (2020: 11%) and US titles such as Physical and Ten
Total ITV viewing
king capital benefit from continues to be impacted by Year Old Tom.
incremental costs associated
Three of the CASPs met the new Inventory target of Our KPI scores with supporting explanations are DE&S Metric
-£33M
Green ≤ budget
90% (KPI 3.2) with Navy just below it. We met all our provided on the following pages.
Red > budget
Availability, Sustainability, and Safety targets across all five
CASPs. One CASP narrowly missed the Reliability target SECTION KEY STRENGTH ORGANISATION
(KPI 3.4), which was due to Aircraft and Ship availability to Measures of success 3 Financial and non-financial performance measures Defence Equipment & Support Annual
clear equipment before use on those platforms. Table above includes £4 million of Infrastructure Plan savings.Report and Accounts 2021-22
For 2021-22 DE&S continued to live within its means in relation to its Operating Expenditure budget (includes
Good practice Infrastructure Plan), with expenditure outturning at £1,181 million, £33 million under budget. However, our underspend
4 was higher than we would have wished, primarily because of Pages 33–41
EXAMPLES
in annual reports 1 2 3 the challenging labour market which had an impact on
expected workforce numbers and led to numerous forecast adjustments through the year.
Introduction Mix of financial and non-financial

KPI 1.2 IN-YEAR EQUIPMENT PLAN BUDGETARY CONTROL
KPIs, supplemented by quantified
information. The organisation has clear Navy Army Air Metric
-£12M -£285M -£57M
Overspend: Red
targets for KPIs, with transparent discussion
for annual reports of performance against these. -0.44% -10.71% -1.19% Underspend:
Green <0% ≥-1.5%
ort Performance Report | DE&S Annual Report & Accounts 2021-22 35
Amber <-1.5% ≥-2%
The colours used are supported by clear
Strategy ranges so the user can quickly understand UK Strategic Command Strategic Programmes
Red <-2%
performance but also have the information

P AND SUPPORT PROGRAMMES KPI 2 - EQUIPMENT ACQUISITION
available to delve deeper. -£10M -1.06%
DE&S monitors delivery performance of all procurement projects. KPI 2.1 measures cost and schedule performance
-£11M -0.91%
Risks Overall, there is a good use of graphical
against our top acquisition projects within an Earned Value Management tolerance. Each CASP includes up to
Metric
12representations
strategic milestonesthroughout the
(split between report
EPP and ESP) due to be delivered in-year and agreed with our clients as a
£330MOperations
Green ≤ 0%
allowingmeasure
significant the content to be success.
of a project’s concise.KPI 2.2 measures performanceThe overall Equipment Plan outturn was £11,885 million against a budget of £12,263 million, 3.1% under budget, which
against the EPP strategic milestones (KPI
Red > 0%
includes adjustments for foreign exchange movement and deliberate changes enacted by our clients. The Army
2.2), in addition to this we also measure performance against cost (KPIs 2.3 to 2.4) and time (KPIs 2.5 to 2.6) targets for
underspend was materially driven by ongoing noise and vibration issues with Ajax which saw a reduction of £210
our Outline Business Case and Full Case Business Projects. Variances to forecast cost or time might arise because of
million in its forecast due to the reprofiling of the General Dynamics UK production schedule.
technical or supplier challenges, commercial and procurement processes, international collaboration issues, accounting
Governance adjustments or dependencies upon associated projects.
Measures of success KPI 2.1 EARNED VALUE MANAGEMENT

o underlying costs of -£788 million, with
c Command and Strategic Programmes. The DE&S Metric
50%
n reduction to the Financial performance
Mechanised Infantry Vehicle Green ≥85%
s and Banshee Jet 80 target drones launching from the flight deck of HMS Prince of Wales
refinement of risk provision ahead of a Amber ≥70% <85%
he delivery of £338 million of efficiencies including Red <70%
on and synergies with External

the Poseidonfactors
aircraft
The cost growth in Navy was driven by Type 26
and indexation changes. The KPI looks at our top acquisition projects and measures the value we are earning against the Schedule and Cost
performance baseline. Performance is measured by looking at the number of projects, in a rolling 12 months, that are
within tolerance by year end. The projects are required to be within the Cost Performance Index (CPI) and Schedule
2021-22 Performance Index (SPI) tolerance of 0.9 to 1.1 by the end of the reporting year to score Green (the upper tolerance
limit – which reflects better than planned progress – has been revised to 1.3 for FY 2022-23). 11 out of the 22 projects
remained within tolerance for both CPI and SPI, resulting in an overall score of 50%, primarily due to schedule and Supporting Transparency
accountability
contractor delays.
KPI 2.2 CASP STRATEGIC MILESTONES (EPP)

34 Metric
DE&S overall
Green ≥85%
Amber ≥70% <85%
Measures of success 4 Performance summary The Crown Estate Annual Report and
Accounts 2021-22

1 2 3 4 Page 19
in annual reports
Strategic report Governance Financial statements Additional information
01-61 62-91 92-131 132-136
Introduction Links to where the
reader can find
further information.
for annual reports Our performance this year
Strategy FINANCIAL Read more on ENVIRONMENTAL Performance

pages 34 - 39
summary page shows
how measures of
Our Growth in net revenue profit Total return Greenhouse gas emissions success are clearly
Risks 2021/22 Achieve a net revenue profit Outperform our MSCI bespoke (GHG) intensity
and explicitly linked
targets of £269.0 million. total return benchmark on an Reduce our Scope 1 and 2
annualised three-year rolling basis. (location-based) emissions to strategic and
intensity against our 2019/20 wider governmental
Operations baseline. objectives (called
Equality outcomes).
Performance is
Governance quantified and trend
How we
performed £312.7m A 6.0 percentage points A 50% O
analysis is provided
for the prior two
this year our net revenue profit outperformance of our benchmark reduction in absolute GHG emissions financial years.
Measures of success intensity against the baseline
44 tCO₂e/m²
6.0
345.0
5.7
312.7
29 tCO₂e/m²
269.3
22 tCO₂e/m²
External factors
1.8
19/20 20/21 21/22 19/20 20/21 21/22 19/20 20/21 21/22
Target Without the impact of Offshore Wind

2019/20: £356.2m Leasing Round 4, our outperformance
2020/21: £370.5m would have been 0.3 (2020/21: 0.7).
2021/22: £269.0m Read more on Supporting Transparency
pages 21 - 27
accountability
SOCIAL Read more on

pages 28 - 33
Our Customer satisfaction Employee engagement Health and safety

2021/22 Outperform the Institute of Outperform the UK national Outperform a benchmark* of 0.50. Accessibility Understandable
35 targets Customer Service benchmark of benchmark* for employee Our Lost Time Injury Frequency
78% (January 2022). engagement of 80% (2021/22). Rate (LTIFR) enables us to better
assess any accident which has a
* Provided by Willis Towers Watson.
Good practice
in annual reports

• An understandable and fair reflection of
financial performance which is consistent with
for annual reports 1 Outcomes linked to expenditure
the underlying financial statements
Strategy • Discussion of actual performance against

expected/budgeted performance Graphical split of expenditure allocation within the
2 group during the year
Risks
Explanation of the organisation’s financial review

Operations 3 that is easy to understand
Governance
4 Clear accounting policies
Measures of success
Financial performance 5 Relevant to the reader of the annual report
External factors
6 Transparent explanation of underspends
36
Financial performance 1 Outcomes linked to expenditure Department for International Trade


1 2 3 4 5 6 Pages 30 and 31
in annual reports
Introduction Annual report and accounts | 2021-22
NAO’s good-practice principles DIT has made significant progress with fulfilling
the government’s commitment to negotiate
Since 2021, DIT has engaged in dialogue with
our partner countries using the mechanisms
for annual reports

ambitious new free trade agreements. provided for by our bilateral trade agreements.
Priority
1.
Within this, the Department progresses policy
In July 2021, DIT signed FTAs with the EEA objectives, engages in cooperation activity
(European Economic Area) EFTA (European and addresses market access concerns and
Free Trade Association) States (Iceland, opportunities. This includes, for example,
Liechtenstein and Norway). This was followed advancing discussions on clean growth and
by Australia in December 2021, New Zealand market access with Canada, agreeing to
Strategy
in February this year and then later that month strengthen the bilateral investment relationship
a Digital Economy Agreement with Singapore with Singapore and pressing for resolution on
– an innovative trade agreement covering the market access barriers for importer spirits
digitised trade in services and goods across the in Cote D’Ivoire. Earlier this year, as part of
Outcome
whole economy. The UK’s FTAs with Australia the inaugural Ministerial Joint Committee of
and New Zealand also pave the way for the UK the Comprehensive Economic Partnership
to join the Comprehensive and Progressive Agreement (CEPA), the UK and Japan also
Each priority is
Agreement for Trans-Pacific Partnership committed to deeper cooperation on digital
Risks
(CPTPP) – a free trade area consisting of eleven trade, climate action and clean energy.
countries (Australia, Brunei, Canada, Chile,
Japan, Malaysia, Mexico, New Zealand, Peru,
Singapore and Vietnam), including some of the
Finally, removing non-tariff market access
barriers outside formal FTA negotiations is now
followed by a detailed
world’s fastest-growing economies. at the heart of DIT’s offer to UK businesses.
These barriers are shared with us by British explanation regarding
strategic approaches to
firms trying to grow into new markets and
The UK government has always been recorded on our Digital Market Access Service
clear that negotiating agreements which (DMAS). To focus government’s efforts, the
Operations are right for the UK is more important

than securing quick deals. We have
Department has prioritised the resolution of
market access barriers based on economic
benefit to the UK and where there is clear
each outcome.
also shown that it is not necessary to
evidence intervention will open markets for
spend several years negotiating a single
Secure world-class free trade agreements agreement. Instead, with the appropriate
prioritisation and direction, negotiations
business within a reasonable time period.
Removing these barriers to trade will also
support other important government priorities,
Governance and reduce market access barriers, ensuring can be concluded efficiently. Having
delivered our first ‘from scratch’ FTAs, we
including the Prime Minister’s green industrial
revolution and levelling up.
that consumers and businesses can benefit

are now able to use those experiences to Our approach has achieved some notable
support ever more efficient and effective successes, including lifting the animal testing
delivery in the coming year. requirement for cosmetics exports to China
from both. The Department also remains focused

(see p. 39), enabling export of UK lamb to the
United States and the export of poultry to
Japan. This success has been underpinned by
on ensuring that the UK’s bilateral trade
Measures of success
deeper trade relationships with key strategic
agreements are appropriately managed and partners, spearheaded by our overseas network
effectively utilised once they enter into force of HM Trade Commissioners and a range of
or effect. This enables delivery against DIT’s trade dialogues including Joint Trade Reviews,
objectives of increasing exports, gaining market Joint Economic and Trade Committees and
access for UK business and championing free other committees established under our
trade. Trade agreement implementation is a concluded free trade agreements.
cross-government activity, much in the same
way as negotiation.
£120.9 million
31
(23.5% of total expenditure)
The Department for
External factors International Trade has placed
1,316 FTE headline figures related to each
(28% of total workforce) one of its priorities connecting
goals to financial outcomes.
30
accountability
37
14 Annual report and accounts 2021-22
Financial performance 2 Graphical split of expenditure allocation within Department for Business, Energy &
the group during the year Industrial Strategy Annual Report
1 2 3 4 5 6 Page 14
in annual reports
Introduction
Core Department
Executive agencies
Partner organisations
for annual reports
Strategy
UKRI
Risks £8,574m
Insolvency
Service
Managing our energy UK Space Nuclear
legacy safely
£77m
Agency Decommissioning The Department for Business,
Operations and responsibly £493m Authority Energy & Industrial Strategy (BEIS)
£5,817m £2,757m
Companies has clearly broken down how
House spending has been allocated over
Governance £25m the past year by component within
BBB the Departmental Group.
£527m
Deliver an ambitious
industrial strategy
The use of colours, shape and
Measures of success £4,366m UK Atomic variation of size presents the
Energy Authority information in an accessible,
Ensuring that our £241m easy to understand manner.
energy system is
Financial performance reliable and secure
Diamond Light
£1,909m
Where we spent our Source Ltd
£115m
Government as money in 2021-22
Shareholder
External factors £1,636m £29,704m ACAS
£57m
Delivering affordable
energy for households
and businesses
£1,346m Coal Authority
£56m
Capability
£514m
UKSBS Supporting Transparency
Maximise investment opportunities
and bolster UK interests £16m accountability
£431m
Other
Taking action on climate change and decarbonisation (£28m)
£365m
Science and Research Salix Finance Limited
£275m £9m
Promote competitive markets and responsible business practices Accessibility Understandable
38 £126m
Financial performance 3 Explanation of the organisation’s financial Age UK Annual Report and Accounts
review that is easy to understand 2020-21

1 2 3 4 5 6 Pages 12, 13 and 73
in annual reports
Strategic report Strategic report
Introduction How we raised our money How we spent our money

Our net resources available for charitable activity were £71.2 million We spent £69.3 million on charitable activity

for annual reports
£80m
£25m
£70m Early on in the report the

Strategy
£72.3m
organisation uses simple bar charts
£60m
to show how it has raised and spent
£20m £20.5m
£50m its money. The graph depicting

how money has been spent is
Risks £40m £15m
£15m
split by the organisation’s six
objectives so the reader can more
£30m
£20m £10m £11.1m easily understand how donations

Operations £10m
£9.6m
directly relate to the purpose of
£6.9m
£9.7m £7m the organisation (pages 12–13).
£5m £6.1m
£0
Governance -£10m
-£17.7m Strategic report
£0
-£20m
Fundraising Charitable Trading Investments Campaigns Information Health Wellbeing Supporting International
activities & other & research & advice & care programmes the network
services & services
(contracts for
Measures of success
services and
programmes)
e activities (net income) increased
Age UK also clearly
12 | Report of Trustees and Annual Accounts 2020/21 Report of Trustees and Annual Accounts 2020/21 | 13
Throughout the Strategic Report and in this Financial Review the charity’s trading income continues
arge increase in fundraising income to be expressed in net terms rather than gross, unless stated otherwise. Age UK’s accounts are sets out how the
External
us Emergency Appeal, factors
helped consolidated, which means they include the income (and costs) of its charitable and trading Financial Review should
enue. The charity made use of the subsidiaries. Age UK’s network of charity shops and Age UK Enterprises, generate significant income, be interpreted by
but the cost of doing so is considerable. Their respective costs include the rent, electricity and explaining that figures
e £9 million, reducing the effects of
maintenance of its charity shop estate and the marketing of financial services, independent living
emic and preventing further job losses. are primarily reported
solutions and other commercial products and services. When considered in gross terms, this can
in net terms. The
make it appear that the charity has far more available to spend on charitable activities than it does.
narrative states what
to £69.3 million (2020: £63.6 million). In 2020/21, 83 per cent (£71.2 million) of the charity’s net resources was available to spend on
charitable activity and it spent 97 per cent (£69.3 million) of this amount. the significant areas of
Age UK’s expenditure Supporting Transparency
relate to (page 73). accountability
2021 2020
Statement of Financial Activities Summary and Income Expenditure Net Net
net calculations £’000 £’000 £’000 £’000
Donations and gifts 27,651 (3,347) 24,304 10,176
Legacies 23,078 (3,810) 19,268 20,933 Accessibility Understandable
39 Grants, corporate and trusts 25,211 (5,288) 19,923 15,848
Lotteries and raffles 10,926 (2,058) 8,868 4,628
Total fundraising 86,866 (14,503) 72,363 51,585
Financial performance 4 Clear accounting policies BBC Annual Report and Accounts
2021-22

1 2 3 4 5 6 Page 242
in annual reports
Introduction Financial statements

Notes to the accounts continued
E. The assets owned by the BBC
for annual reports In providing the range of services to audiences, the BBC makes use of a significant number of assets in its operations. This section sets out the
owned assets the BBC intends to continue to use, those to be disposed of and any disposals made during the year. See section F for leased
(right-of-use) assets held.
Strategy Owned assets can be broadly split into the following sections:
Programme-related assets
Programme assets can be recognised within either inventories or intangible assets as follows:
Risks Programme
Operations
Detailed notes to the
financial statements
Produced by Rights purchased
Produced in-house including diagrams to
Governance independent producer outright
clearly explain complex
accounting concepts
(such as the definition
of a programme-related
Measures of success
Cash spent producing
Payments made Right to broadcast asset) in a way that is
on account purchased Right to sell programme
programme
rights purchased
easy to understand for
“Prepayments to “Rights to broadcast
“Programmes Under
acquire future programme- acquired programmes “Distribution rights” a non-financial reader.
Financial performance Production”
related rights” and films”
Intangible
assets
External factors
Inventories
Production
completed/received
“Completed programmes”
accountability
Amortised over expected
Broadcast to public
recoupment period
“Operating expenditure”
“Operating expenditure”
Income & Expenditure

40
Financial performance 5 Relevant to the reader of the annual report NS&I Annual Report, Resource Accounts
and Product Accounts 2021-22

1 2 3 4 5 6 Page 20
in annual reports Performance Report
Introduction How we spent taxpayers’ money
Performance Report
The reference to the use of
Performance Report taxpayer money for operations
The amount of money available to NS&I is determined by Parliament helps directly engage the user as
NAO’s good-practice principles through the Supply Estimates procedure. We use the money allocated a stakeholder.
for annual reports to us to deliver the retail products and customer service discussed
How we spent taxpayers’ money
throughout this report. Our operating costs include our internal costs
Performance Report
and the payments made to Atos, our operational services partner, under
Strategy a Public Private Partnership contract.
Accountability Report
The amount of money available to NS&I is determined by Parliament
As in previous years, we stayed through
however, this was reducedthe Supplyannounced
to £15 Estimates procedure.
that We use the money allocated
NS&I would have
within all the spending limits set by to usbudgetary
million. The revised to deliver the the
retail products
opportunity and customer
to support the service discussed
Parliament. In 2021–22 we spent requirement for 2021–22 included Government’s green focus by
Risks £156.3 million (2020–21: £162.3
throughout this report.
the re-profiling of the investment
Our operating costs include our internal costs
developing and delivering a new
million), which is £8.0 million and programme
and transformation the paymentsas made to Atos,
green retail savingsour operational
product. The first services partner, under
(2020–21: £5.6 million) lower a Public
agreed in the SR21 Private
process. Future Partnership contract.
Issue of Green Savings Bonds was
Accountability Report
than the amount allocated year budgets were adjusted to take launched in October 2021.
by Parliament in the 2021–22 account of the reduced requirement
Operations The table on page 21 provides a reduced to £15
Financial Statements
Supplementary Estimate. for resources inAsthe in previous
current year. years, we stayed however, this was announced that NS&I would have
within all the spending limits moresetdetailed
by explanation
million. of whatbudgetary
The revised Specifically in relation
the opportunity to support the
The 2021–22 Supplementary The 2021–22 Supplementary we spent this year, compared with
requirement for 2021–22 included to the
Estimate included additional ring-
Parliament. In 2021–22 we spent
Estimate also included an increase the Estimate. Resource
Government’s green focus by
£156.3 million (2020–21: £162.3 the re-profiling of the investment developing and delivering a new
fenced controls for infrastructure in budgets (£5.65 million)
million), whichfor the
is £8.0 million and transformation programme asAccounts, the
green retail savings product. The first The accounts have
investment and transformation implementation of Green£5.6 Savings SR21 process. Futurestatements
Governance activity. The original budget for
(2020–21:
Bonds. In the Spring Budget
million) lower For more details,
2021, Statement
agreed
of
seeinthe
financial
thefull
position
also
Issue of Green Savings Bonds was a useful interactive
than the amount allocated year budgets were adjusted to take launched in October 2021.
the programme was £42 million; the Chancellorby of Parliament
the Exchequer in the 2021–22 on page 79.account of the reduced requirement highlight the process marker to help users
The table on page 21 provides a
Financial Statements
Supplementary Estimate. for resources in the current year. that underpins spending navigate to other parts
more detailed explanation of what
Financial position The 2021–22 Supplementary The 2021–22 Supplementary allocation
we spent to
this ensure
year, comparedthewith of the Annual Report
Other Information
Measures of success Estimate included additional ring-
At 31 March 2022, NS&I’s total assets 30 days of acceptance of the relevant HM Treasury Debt and Reserves
fenced controls for infrastructure
Estimate also included an increase the Estimate.
in budgets (£5.65 million) for the user is informed. for more information.
less total liabilities were £38.8 million, goods and services, or receipt of Management (DRM) team through
investment and transformation implementation of Green Savings For more details, see the full
£9.3 million lower than at 31 March a legitimate invoice if that is later. the NS&I board. The ring-fence
activity. The original budget for Bonds. In the Spring Budget 2021, Statement of financial position
2021. The decrease is mainly due In 2021–22, we paid 99.8% includes both RDEL and CDEL. For
the programme was £42 million; the Chancellor of the Exchequer on page 79.
to non-current assets decreasing (2020–21: 98.7%) of bills within 2022–23, RDEL ring-fence is £53.3
Financial performance by £2.9 million from £69.8 million this standard. Details of all million and CDEL is £3.3 million.
to £66.9 million. This was primarily Financial position
expenditure over £25,000 can be The ring-fenced amounts for the
Other Information
due to depreciation being higher found on our website, along with later years total over £178 million.
The narrative which
than investment for transformation At 31 March
a list of all contracts with a value 2022, NS&I’s total assets 30 days of acceptance of the relevant HM Treasury Debt and Reserves
accompanies the
activities. Total liabilities, excluding of more than less
£75,000,total inliabilities
line with were £38.8 million, goods and services, or receipt of Management (DRM) team through
External factors client funds, increased by £3.2
figures in the Financial
million. Current assets decreased by
£9.3 million lower than at 31 March
government guidelines.
2021. The decrease is mainly due
a legitimate invoice if that is later.
In 2021–22, we paid 99.8%
the NS&I board. The ring-fence
includes both RDEL and CDEL. For
position explain what the
£3.2 million. For more details, see the Spending to
Review non-current assets decreasing (2020–21: 98.7%) of bills within 2022–23, RDEL ring-fence is £53.3
full Statement of financial position on The 2022–23 resourcing by £2.9 million levelsfromwere£69.8 million this standard. Details of all million and CDEL is £3.3 million.
body’s
page 79.
payment terms to £66.9
agreed during the 2021 Spendingmillion. This was primarily expenditure over £25,000 can be The ring-fenced amounts for the
and performance are, Review. due
Resourcing to depreciation
levels include being higher found on our website, along with later years total over £178 million.
Payment of suppliers: policy funding for thethan investment
purposes for transformation
of delivering a list of all contracts with a value
providing
and performance
the reader activities.
the transformation of NS&I’s Total liabilities, excluding of more than £75,000, in line with
Wewith the context
are committed to payingof the outsourced services client funds, increased by £3.2
in the Rainbow government guidelines.
our suppliers in accordance with Programme. The million. Current
resourcing forassets
the decreased by
economic situation
our prompt payment policy. We
and Rainbow Programme £3.2 million. For more details, see
is ring-fenced
For more details, see the full
the Spending Review
Statement of financial position
whether
endeavour to pay there is any
all suppliers within and is subject to fullregular
Statement of financial
reporting to position on 79.The 2022–23 resourcing levels were
on page Supporting Transparency
page 79. agreed during the 2021 Spending accountability
risk involved. Review. Resourcing levels include
Payment of suppliers: policy funding for the purposes of delivering
and performance the transformation of NS&I’s
We are committed to paying outsourced services in the Rainbow
our suppliers in accordance with Programme. The resourcing for the For more details, see the full
20 our prompt
NS&I Annual Report, Resource Accounts and Product Accounts 2021–22payment policy. We Rainbow Programme is ring-fenced Statement of financial position
endeavour to pay all suppliers within and is subject to regular reporting to on page 79.
41
20 NS&I Annual Report, Resource Accounts and Product Accounts 2021–22

EU Exit – NSPOC 4,976 4,436 4,427 (8)
Total EU Exit 20,376 17,001 16,994 (6)
Total and EU Exit 534,300 510,860 496,453 (14,405)
Financial performance 6 Transparent explanation of underspends UK Space Agency Annual Report and
Non ring-fenced AME 500 500 1,271 771
Accounts 2021-22
Ring-fenced AME – forward contract revaluations - - (361) (361)
Good practice Total AME 500 500 910 409

EXAMPLES
1 2 3 4 2021-22
Total Outturn 5 6 Pages
534,80029 and 30
511,360 497,363 (13,995)
in annual reports
Introduction Ring-fences and discretionary

spend
The Agency receives funding from Discretionary
NAO’s good-practice principles BEIS. When spending restrictions Programmes 11.4%
for annual reports are put against a particular budget
UK Space Agency (UKSA) line, this is referred to as a ring- Admin 1.4%
succinctly explains where its fenced budget. In line with the HMT
main source of funding is derived Spaceflight 2.8%
Strategy consolidated budgeting guidance,
ESA
and how it can use the funding the Agency is not permitted to switch NSIP 2.3% 75.5%
received, including explanation of funding between ring-fences. The
any limitations or restrictions on its graph below details the 2021-22 EU Exit 3.4%
Risks ability to use the funding. outturn, split by the various ring-
fences imposed by BEIS through our Spectrum 1.4%
allocation. The remaining 11.1% of the
Operations UKSA allocation represents spend on SABRE 0.7%
discretionary programmes. Global Challenges
Research Fund 1%
Governance
Measures of success
How we spent our 2021−22 DEL and EU Exit budget
UKSA visually depicts
its allocated funding
Financial performance by showing the
disaggregation of 29
expenditure between
£65.8m its main programmes
External factors during 2021-22. This
clearly demonstrates
£11.5m to the reader where the
majority of the funding
£4.8m
allocation is spent.
£376.4m £17.0m £14.1m £6.8m
ESA National Programmes International Partnership Programme Admin

EU Exit Commercial Spaceflight National Space Innovation Programme accountability
The table above includes delivery costs; therefore, the

figures are not directly comparable to those in the
Note 4 to the Financial Statements, Total Expenditure,
on page 87.
42 Detailed Spending Breakdown
European Space Agency Space Stituational
Good practice
in annual reports
External factors

• An annual report that consider the external
drivers that influence and impact on
for annual reports 1 Net zero by areas of control and influence
current objectives
Strategy • Innovative reporting on sustainability and

climate change Consideration of the environment in which the
2 entity operates
Risks Note that while large companies are required to disclose
information in alignment with the recommendations of
the Task Force on Climate-Related Financial Disclosures
Operations (TCFD) no such requirement exists for government 3 Engagement with stakeholders
bodies at the date this guide has been published.
We do, however, encourage organisations to consider
Governance TCFD recommendations in striving for best practice.
4 Integration of sustainability into core strategy
Measures of success
Financial performance 5 Visually engaging diversity reporting
External factors
43
One of the principles under our strategy Above and Beyond is that we are not caring for children if we do
not protect the environment. By 2025, we plan for sustainable business practices to be embedded across our
organisation so our people find it easier to make the right choices. Sustainability is central to our purpose, given the
widely acknowledged impact of climate change on child health across the globe.
External factors 1 Net zero by areas of control and influence Great Ormond Street Hospital for
In February 2021, GOSH became the first UK standalone children’s hospital, and the first London NHS Trust, to declare a Climate and Children NHS Foundation Trust Annual
Health Emergency. GOSH’s declaration acknowledged our special responsibility to respond to the Climate Health Emergency and offered
a clear recognition that we are not looking after our children if we are not protecting the planet. Our declaration was accompanied by a
Good practice pair of formal net zero emissions targets to support the ‘Delivering a Net Zero Health Service’ plan under the Greener NHS Programme.
EXAMPLES
1 about 2 our3increased4 sustainability
5 Page 45
in annual reports Over 93% of staff strongly support and are enthusiastic ambition. Our declaration was the first step
and we have developed a sustainability programme to help achieve our commitments.
Introduction
GOSH Climate and Health
Emergency declaration

Protecting our planet
for our patients
for Reductions
annual inreports
Achieving net zero carbon emissions in areas we
carbon emissions linked with
energy use at GOSH between 2013 and 2020 control by 2030 and areas we influence by 2040
Strategy Achieving net zero in Achieving net zero in
Great Ormond Street Hospital
25
21,341 areas we control by 2030 areas we influence by 2040
20
19,143
17,711
focuses on sustainability and
Risks
16,632
delivery of net zero in areas
15
GOSH Carbon Footprint GOSH Carbon Footprint Plus the entity can control by 2030
13,503 12,995
12,263
10
These areas make up 24% of our total emissions. These areas make up 76% of our total emissions. and areas they can influence
5 by 2040, including how this will be
Operations
The areas linked
The areas linked

Building energy
15% delivered and achievements so far.
0
2013 2020
/water/waste Personal
Travel 10%
to this are:
to this are:
Direct Emissions (tCO2e) Emissions from inhalers
and anaesthetic gases 5%
Governance
Our supply
chain 66%
Business travel
4%
5.47
4.70
5 4.57
4.00
and fleet
4 3.00
3 2.80 2.56
2
Measures of success
1
0 GOSH Climate and Health
Emergency declaration
2013 2020
Carbon per employee (tCO2e) Protecting our planet
for our patients
External factors
accountability
44
External factors 2 Consideration of the environment in which the Barratt Developments PLC
entity operates Annual Report and Accounts 2021

1 2 3 4 5 Page 8
in annual reports
Introduction Marketplace
for annual reports UK economy Land supply and the planning system Housing market support
UK economic output saw a sharp recovery through to October 2020, There remains a good supply of planning consents coming through During the year, the Government’s Help to Buy scheme becam
following the end of the initial national lockdown, but renewed the planning system in support of housebuilding growth despite available to first time buyers only with regional price caps bein
Strategy restrictions on activity saw the economy then contract through to
the end of January 2021. With the gradual removal of COVID-19
pandemic related disruption with 277,326 new detailed planning
permissions approved in England through the year to
applied. Following the change for reservations from December
2020, first time buyer activity has been maintained and existing
restrictions, the economy has shown continuous expansion since 31 December 20203. homeowners have migrated to traditional purchase.
February 2021, although output has yet to recover to pre-pandemic
Reflecting the good availability of land, our business model and The SDLT holiday, introduced in July 2020, which raised the
levels. Looking forward there are clear signs of optimism with the
Risks latest HM Treasury collated economic forecasts projecting GDP
operating framework remain focused on operating one of the threshold at which the tax becomes payable to £500,000, has
shortest land banks in the industry as we seek to optimise return supported housing demand throughout the year. The holiday b
growth of 6.9%1 in 2021 and 5.6%1 in 2022. Uncertainties for the
on capital.
Barratt Developments sets out
to taper from 1 July 2021 and is scheduled to finish at the end
wider economy do however remain, notably around employment the environment in which
September 2021. Whilst our salesthe
activity benefited from this “
and consumer confidence, with the gradual withdrawal of furlough We await the outcome of the Government’s consultations on land
organisation operates,
to action” in FY21, includingin recent months, for
our sales reservations
Operations arrangements for employees and income support for the self- and planning proposals. The Government is seeking to streamline
focus on the
completion wider
beyond economy
the SDLT and have remained rob
holiday period,
employed particularly important in the coming months. the planning process and ensure local authorities have a clear local
plan. We continue to carefully monitor the planning environment to the housing
In early sector.
2021 the Government introduced the Mortgage Guaran
Housing demand ensure our supply of planning consents is aligned with our growth Scheme to support LTV lending in excess of 90%. This scheme
The UK housing market, in contrast, has shown a remarkable plans. been adopted by several mainstream mortgage lenders, but as
Governance and continuous recovery since emerging from the initial national has not been made available to the new build housing market.
lockdown, aided by the industry’s ability to continue operating over On 6 May 2021, the temporary regulations under the Coronavirus
this subsequent period. This reflects pent-up demand created by Act 2020 that allowed local authorities to hold planning committee Mortgage market
the lockdown and the SDLT holiday. It also reflects a recovery from meetings virtually expired, with no alternative arrangements in Reflecting the continuing strength of the housing recovery sinc
Measures of success the more extended period of uncertainty and suppressed housing place. This has resulted in delays to the planning process. the end of the initial national lockdown and including the impa
market activity (evident since the Brexit referendum in 2016), as English Planning Consents and Net New Build of the SDLT holiday from July 2020, mortgage approvals for ho
well as a reprioritisation of housing for many households since the Home Additions and Savills UK Greenfield purchases have shown a sharp recovery and totalled more tha
onset of the pandemic. Against this backdrop we believe that the Development Land Price Index 1,070,000 in the year to 30 June 2021. Mortgage approvals wer
market for housebuilding remains positive. some 61.7% ahead of the initial national lockdown interrupted
Financial performance 120 360
England moving annual planning consents and net

year to 30 June 2020 but also 36.4% above the mortgage appro
Savills UK Greenfield Development Land Index

Housing supply registered in the year to 30 June 2019.
Housing remains high on the Government agenda with the shortage 100 300
new build home additions ('000s)

of housing being recognised as a critical issue for the long term We continue to work with building societies, banks and other
External factors health of the UK economy and its growing population. The UK
(100 = 2007 peak)
80 240 financial institutions to increase lender understanding and to
introduce additional lenders to the new build sector. We are al
Government reiterated its commitment to a target of building
c. 300,000 new homes per year in October 2020. New build housing 60 180 participating in the development of green mortgages that refle
additions were 220,6002 in the last reported 12 month period to efficiency and environmental credentials of our homes.
31 March 2020 which, when combined with the net additions from 40 120 Number of UK mortgage approvals
conversions and demolitions of 23,1702, resulted in net additions to for house purchase4
the housing stock of 243,770 homes2. There remains a significant 20 60 1,600,000
shortfall in new home additions, providing opportunity for industry
growth over the coming years. 1,400,000
0 0
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Our strategy and growth plans recognise this opportunity. 1,200,000
We maintained our volume capacity throughout the first COVID-19 accountability
Savills UK Greenfield Development Land Price Index (LHS) 1,000,000
lockdown and our medium term target remains to grow completions
England-Planning consents (‘000’s) - revised series (RHS)
to 20,000 homes, 16% ahead of total completions of 17,243 in FY21. 800,000
England - Net New Build Home Additions (RHS)
New build and net additions to the 600,000
English housing stock Building materials and labour
300,000 We experienced very different rates of build cost inflation in the first 400,000
and second halves of FY21. In the first half, build cost inflation was Accessibility Understandable
200,000
45 250,000
relatively muted, reflecting the fall in output created by the initial
national lockdown, latent supply chain capacity, as well as our 0
procurement planning. Building material price agreements provided
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
FY17
FY18
FY19
FY20
FY21
200,000 cost certainty as well as visibility for our supply chain partners.
Stakeholder engagement continued Case study: Community engag
Our communities
External factors 3 Engagement with stakeholders Infinis Energy Group Holdings Limited

1 2 3 4 5 Pages 34 and 35
in annual reports Infinis is committed to being a good For new developments, such as new Charitable activity
neighbour and supporting and solar projects, pro-active community Our Charity Committee continues
investing back into local communities engagement is critical (see Aldeby to co-ordinate the distribution of
across the UK. case study below). funds to charitable organisations,
community groups and good causes
Introduction Working with our neighbours Investing back into throughout the UK, nominated by
The communities which surround our communities our employees. Donations were
our sites are key stakeholders Our business continues to invest given to 46 organisations over the
in our business. Listening and time, money and energy in last 12 months ranging from local
NAO’s good-practice principles responding to, and supporting supporting activities and investment cancer hospices to community
these communities is a foundation which make a positive difference
for annual reports of our success. Existing sites, to our communities. These include
school projects and the Anthony
Nolan Trust.
by their nature, are established charitable activity and volunteering.
and stable operations and our Despite the continued challenges of
operational activity is undertaken
Strategy under long-term contractual
COVID-19, it was great to be back
out in the communities delivering
arrangements, meaning that we want projects across our four UK
to be a considerate and supportive operating regions.
neighbour. Our established processes
Risks ensure that noise and emissions
from our operations are minimised
to well within planning, permit and
other requirements.
Operations
Trussell Trust
Governance Aldeby case study We wanted to recognise the
growing importance of foodbanks
Aldeby, in Norfolk, is a CLM site that Infinis
has operated for over 20 years. The site in our communities as the cost of
has been progressing as a co-located Solar living becomes an ever growing
development project since April 2020. challenge across all of our
Measures of success It was presented to the planning committee communities. Through working
during 2021 and received consent in March with the Trussell Trust, a series of
2022. As part of our standard development financial donations were made in
process, we presented details of the project December to organisations
operating across the UK.
Financial performance on a website and then attended several public
presentations to present the project, answer
questions and look to respond to concerns.
The feedback from the local communities
and a number of other interest groups was
External factors considered, and the project and construction
plan were amended in response. It was noted
by the Planning Committee that Infinis had
‘listened and reflected’ on feedback on the
project and this was a key element to consent
being granted for the project.
Infinis Energy Group includes
stakeholder reporting which
examines engagement with key
groups, and brings this to life Supporting Transparency
with case studies. accountability
34 Infinis Annual Report and Accounts 2022
46
External factors 4 Integration of sustainability into core strategy Co-op Annual Report and
Accounts 2021

1 2 3 4 5 Page 28
in annual reports Co-op Annual Report & Accounts for 2021 28
Introduction Fairer for our planet

It cannot be overstated: climate change is real And it was a significant year for us, as we published
NAO’s good-practice principles and life-threatening. The science is clear and

indisputable. Tackling climate change has long
our important 10-Point Climate Plan. The plan
serves as our blueprint for how we will play our
for annual reports been one of our priorities but now, more than part in addressing the climate emergency and is
ever, new ways of thinking and unprecedented built on three principles, more details here:
co-operation will be needed.
Strategy
2021 has been a hugely significant year for
climate change and the world watched as the UK
Government hosted the largest climate change
Risks conference ever, COP26.
Operations 1 Make long term

changes to how we 2 Set clear short-term
milestones 3 Rapidly reduce
carbon from our
do business We will reduce the impact of operations
We will be a net our operations and products
zero business by 50% and our We will take clear,
by 2040, for our products by 11%, practical steps to reduce
Governance operations and for both by 2025. carbon from the running of our
our products. business and the products we sell.
Measures of success 10 Make our climate

plan a priority 10-Point 4 Compensate for our
climate impact The Co-op sets out
Underpinning these goals, Climate Plan Our operations a 10-point climate
we are linking the pay
of our Food CEO to Our plan is grounded
will be carbon
neutral from plan including actions
achieving our carbon by three principles: 2021 and our to achieve success,
Financial performance reduction targets.
We’ll follow the science in our target
own brand
products by 2025 related directly to the
setting and decision making. Above
all else we must rapidly reduce the organisation’s strategic
carbon we put into the air.
aim to be ‘Fairer for
External factors 9 Co-operate for
change at scale
We’ll work for a fair and just transition for
people and planet. Solving the climate 5 Make lower carbon
choices easier for our planet’.
We will actively work together crisis can’t come at the expense of those customers
with others, sharing our plans who can least afford it. We will support our
and solutions, seeking to customers and
We’ll co-operate to drive systems
align rather than members to make
change because we recognise that we
compete. lower carbon
are stronger and more effective when
choices.
we work with others.
8 Campaign for climate

action 7 Help suppliers on the front
line of the climate crisis 6 Direct our finance
to reducing carbon
We will lobby and We will support our We will align our
advocate with producers (including finance, including
accountability
Government to press Fairtrade) to adapt to carbon offsets and
for the necessary climate change realities pension funds, to low
systemic change. and to become more carbon investments.
climate resilient.
47
External factors 5 Visually engaging diversity reporting Arts Council England Annual Report

1 2 3 4 5 Page 14
in annual reports ARTS COUNCIL ENGLAND
Introduction NLPG AWARDS £ AWARDED AMOUNT AND % OF TOTAL

BLACK, ASIAN AND
ETHNICALLY 715, 15% £13,290,180
DIVERSE
60%
406, 9%
DISABLED 60
FEMALE 1997, 51%
for annual reports LGBTQ+ 630, 10%

50
40
£5,662,620
£4,883,305
26%
£4,380,505
Strategy
30
0% 10% 20% 30% 40% 50% 60%
22%
20%
AWARDED AMOUNT 20
10
NLPG AWARDED AMOUNT
Risks BLACK, ASIAN AND
ETHNICALLY £16,310,420.00 Black, Disabled Female LGBTQ+
DIVERSE Asian,
DISABLED £8,690,682.00 Ethnically
Diverse
Operations
FEMALE £55,499,397.00
LGBTQ+ £11,376,450.00 Investing in a cultural sector that is more

relevant to all of England’s communities,
£0M £20M £40M £60M £70M
and becoming a more inclusive and relevant Arts Council England
national development agency
Governance AWARDED AMOUNT
reports on how the
• We introduced a new approach to advice entity invests in
giving so we can focus on those who may
Delivery Plan Measures different cultural
not have engaged with us previously to
sectors in a visually
Measures of success Data on Developing Your Creative Practice
awards made to Black, Asian and Ethnically
encourage new applicants to our funding.
engaging way.
Diverse, Disabled, Female and LGBT applicants • We developed our Access Support and
(number of awards and percentage of total introduced a new Access Support team at the
investment) Arts Council committed to helping remove
Financial performance barriers to funding, making our processes
more open and accessible to everyone.
AWARDS
1474
• We required all National Lottery Project

1400
Grants applicants to demonstrate the
External factors 1200 steps which they will take to be open and
accessible to the communities they plan
1000 to work with, show how their workforce
reflects the communities they wish to
800
reach, and demonstrate how their projects
617
contribute to the Creative Case for Diversity.

530
600
These are all attributes of our “Inclusivity &
452
400 Relevance” Investment Principle.

200 • Through the Culture Recovery Fund
programme we have supported more Supporting Transparency
accountability
organisations to develop diversity plans as
Black, Disabled Female LGBTQ+ part of our wider commitment to opening up
Asian,
Ethnically access to develop more inclusive practice.
Diverse
14 ARTS COUNCIL PERFORMANCE 2021/22
48

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INSIGHT

Good practice in annual reporting

Good practice guide

Our interactive guide sets out our

We are the UK’s independent

NAO’s good-practice principles

Operations • consideration of the challenges an organisation is facing;

• appropriate use of data; and

Governance A good annual report • quantification of risks and performance measures.

of stakeholders that •  onsideration of how the organisation engages with key

• infographics and diagrams to communicate important

•  learly integrated structure to help users navigate the

Strategy Operations Measures External factors

NAO’s good-practice principles

Risks Governance Financial

Operations How to use this guide

Introduction What did we look for? Examples:

NAO’s good-practice principles

Operations 3 Introduction of a new strategy

Financial performance 5 Golden thread throughout the annual report

7 Looking ahead to the next financial year

Strategy 1 Integration of strategic

Safe lifecycle management of Safely managing our inventory

greater range of uncertainty

Site Decommissioning and Remediation

greater range of uncertainty

Strategy 2 Repeated performance wheel Wates Group Annual Report and

Good practice EXAMPLES

NAO’s good-practice principles

The report then

Financial performance includes this wheel and standards.

DIVERSE AND INCLUSIVE SUSTAINABLE

10 WATES G RO U P L IMITE D AN N U A L ACCOU N TS A N D REPORTS 2021 11

Strategy 3 Introduction of a new strategy National Society for the Prevention of

NAO’s good-practice principles

2016–2021. Be inspired and Build on our W

12 13 NSPCC Annual Report and Accounts 2020-21

Good practice EXAMPLES

Strategy expenditure (see pages 50 to 83) which are managed

While the board retains overall responsibility, a sub-

the subject matters more deeply and gain a greater

understanding of the detail. The committees then

subsequent pages. Minutes of the board and principal

See pages 143 to 154

Good practice EXAMPLES

ow we work faced. We’ve worked hard to inform and advise the

Good practice EXAMPLES

the organisation’s activities relate

Measures of success year. This year 332 unemployed people

Good practice EXAMPLES

NAO’s good-practice principles

It is clear to users what the

Introduction What did we look for? Examples:

NAO’s good-practice principles

• Quantified risks and realistic planned and

• Discussion about how the dynamic of

Financial performance 5 Detailed risk management infographic

Risks 1 Managing risk within the group Nuclear Decommissioning Authority

Introduction Succinct diagram showing readers Group strategic risks

for annual reports organisation (page 86).

Business risk registers

Responsibility for implementing

Good practice EXAMPLES

Operations • consideration of the challenges an organisation is facing;

Governance A good annual report • quantification of risks and performance measures.

of stakeholders that • onsideration of how the organisation engages with key

• infographics and diagrams to communicate important

• learly integrated structure to help users navigate the