Page 115 - Pobl Annual Report FY25

Annual Report 2025 113
Notes to the Financial Statements
for the year ended 31 March 2025
On 1st January 2026 Linc-Cymru Housing Association will transfer the whole of its stock, property and other
assets and all engagements to Pobl Homes and Communities Limited pursuant to section 110 of the Co-operative
and Community Benefit Societies Act 2014 subject to the receipt of all required lenders’ consents and
confirmation from the Financial Conduct Authority of dissolution of Linc-Cymru Housing Association (under
section 126 of the Co-Operative and Community Benefit Societies Act 2014).
34. Post Balance Sheet Event
Renting Homes (Wales) Act 2016
In March 2024, many RSLs across the Welsh housing sector, including Pobl Group, became aware that the current
drafting of the Renting Homes (Wales) Act 2016 ("the Act") and the Renting Homes (Fitness for Human Habitation)
(Wales) Regulations 2022 (as amended) ("the Regulations") was resulting in different interpretations of legal
obligations for landlords. On identification of this issue, immediate steps were taken to ensure compliance with
legal obligations as we are currently able to understand them. Following legal advice, a number of Registered
Social Landlords have issued proceedings in the High Court to seek a series of declarations as to the correct
meaning and interpretation of the potential obligations. A high level of uncertainty remains because the
interpretation of the requirements under the Act and Regulations needs clarification which will only be possible
following determination of the proceedings that are currently before the High Court, hence any financial effect
cannot currently be measured with sufficient reliability at this time.
Cyber-attack
In November 2023, Pobl Group was subject to a cyber-attack in which certain data stored by the Group was
exfiltrated. A review of the data exfiltrated was undertaken and those individuals who were required to be notified in
line with statutory requirements were notified in January 2025. As at the balance sheet date, we have not received
any claims from any of those individuals who were notified. However, it remains possible for any of those
individuals to bring a claim within the remaining statutory limitation period. The ICO has completed its investigation
into the cyber-attack and decided it will not take any formal regulatory action.
35. Contingent Liabilities