51711 Report & Accounts AW:Layout 1
6.
5/9/07
10:28
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Operating surplus Group
Group
Parent
2007
2006
2007
2006
This is arrived at after charging:
£’000
£’000
£’000
£’000
Depreciation of housing properties
1,160
1,000
–
–
Depreciation of tangible fixed assets
1,086
1,022
964
946
–
–
–
–
Profit or loss on sale of other fixed assets Operating leases on land and buildings – (to cover rental payments to Private Sector Landlords for properties used for temporary accommodation for START tenants)
Parent
10,468
13,150
–
–
Fees payable to the company's auditor for the audit of the financial statements
11
9
11
9
Audit of the financial statements of the Company’s subsidiaries pursuant to legislation
54
49
–
–
6
2
–
–
Group
Group
Parent
Parent
2007
2006
2007
2006
£’000
£’000
£’000
£’000
245
127
–
–
Fees payable to the company's auditor for other services
7.
Net interest payable and similar charges
Interest receivable Interest payable on loans and leases: – repayable wholly within five years – repayable in more than five years
Interest receivable from other RSLs Interest payable capitalised on housing properties under construction Interest payable capitalised on commercial properties under construction Interest receivable transferred to the RCGF/DPF Amortisation of loan issue costs Interest receivable transferred to the Housing Corporation SHI
–
–
(13,862)
–
(12,966)
–
–
–
(13,617)
(12,839)
–
–
524
329
–
–
3,771
3,232
–
–
148
–
–
–
–
–
(679)
(610)
(72)
–
–
–
(115)
–
–
–
–
–
(10,040)
(9,888)
Exceptional Item Breakage costs on refinancing the loans portfolio During the year the Group refinanced £46 million of loans with HACO and THFC from the £400 million loan facility set up in March 2006 with Barclays and Nationwide. The refinancing of these loans incurred £12.6 million of breakage costs which have been charged to the income and expenditure account in the current year.
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