Money to Invest We’re really proud to have generated a significant increase in our operating surplus of £40.9m during 2019-2020 due to the sale of land. As a not-for-profit social housing provider our purpose is to provide our residents with an aspirational home environment and great value for money. To accomplish this all our surplus is reinvested to benefit our residents and to support them achieve a healthy and happy lifestyle.
Summary of our financial statements 2018/2019 (£’000)
2019/2020 (£’000)
25,836
21,739
946
40,864
741 (2.9%)
315 (1.4%)
205
42,024
1,644
44,640
95,361
85,125
Other fixed assets
6,625
6,610
Net current assets
54,640
62,776
1,281
686
Social housing grant
30,226
36,931
Loans
31,574
18,681
Deferred income
39,720
-
Net Assets
53,825
98,213
Gearing
37.6%
14.4%
Income & Expenditure Total Turnover Operating surplus Operating surplus excluding one-off items Surplus on disposal of property Surplus/(deficit) after interest costs Balance Sheet Housing properties
Other long term creditors
42