Annual Report & Accounts 2016/17 Delivering what matters Northern Ireland Water PO Box 1026 Belfast BT1 9DJ Email:
[email protected] Waterline: 0345 7440088 Text Relay: 0345 7440068 Calls cost 5p per minute plus your phone Company’s network access charge. Call charges for mobiles may vary. www.niwater.com Facebook: Northern Ireland Water Twitter: @ninews Northern Ireland Water is a trademark of Northern Ireland Water Limited, incorporated in Northern Ireland, Registered Number NI054463. Registered Office: Westland House, 40 Old Westland Road, Belfast, BT14 6TE ISBN: 978-1-907007-18-7 1 Northern Ireland Water Limited Annual Report and Accounts For the year ended 31 March 2017 Laid before the Northern Ireland Assembly under Article 276 of the Water and Sewerage Services (Northern Ireland) Order 2006 by the Department for Infrastructure on 4 September 2017 1 2 NI Water Annual Report and Accounts 2016/17 Contents Strategic report Welcome 6 Key business activities 8 How we create value 10 Business performance 12 Outlook 14 External environment 15 Business strategy 17 Principal risks and opportunities to our strategy 19 Delivering our customer promises 26 Our finances explained 42 Financial performance 44 Governance Corporate governance 51 Directors’ report 59 Directors’ remuneration report 62 Statement of Directors’ responsibilities 67 Statutory accounts 68 Independent auditors’ report 121 Northern Ireland Water is a trademark of Northern Ireland Water Limited (NI Water), incorporated in Northern Ireland, Registered Number NI054463. © Northern Ireland Water Limited copyright 2017. The text of this document (this excludes, where present, the Royal Arms and all departmental or agency logos) may be reproduced free of charge in any format or medium provided that it is reproduced accurately and not in a misleading context.