Home: About Us: Facts & Figures
Facts & Figures
2007/2008 was a good year financially for the Society, which now has over 2100 properties in ownership or under management. Our surplus of £1.4 million helped fund 99 additional properties, with 200 more homes in the pipeline. The Society's 2007/08 board report and financial accounts are also available for review
We have continued to invest heavily in improving existing properties in order to ensure our residents enjoy good quality homes, and to protect our income stream. This investment is based on the stock condition survey carried out in 2006.
During the year, over £700k was spent on major improvements to properties. This work included boiler replacements, warden call systems, an external decoration programme and a number of improvements to communal areas.
The Society's Business Plan for 2008/09 – 2012/13 is also available for review.
| Balance Sheet as at 31 March 2007 | 31/03/2008 |
31/03/2007 |
£000's |
£000's |
|
| Housing Assets | 94,363 |
85,280 |
| Less | ||
| Social Housing Grant | (44,005) |
(41,129) |
 |
|
|
50,358 |
44,151 |
|
| Other fixed assets | 154 |
179 |
|
|
|
| Total Fixed Assets | 50,512 |
44,350 |
| Current Assets | 1,034 |
1,695 |
| Current Liabilities | (3,575) |
(2,613) |
|
|
|
| Net Current Assets | (2,541) |
(954) |
|
|
|
|
|
|
| Total Assets less current liabilities | 47,971 |
43,396 |
|
|
|
| Financed by | ||
| Loans | 26,689 |
23,532 |
| Reserves | 21,282 |
19,864 |
|
|
|
47,971 |
43,396 |
|
|
|
|
| Income and Expenditure - Year ended 31 March 2007 |
31/03/2008 £000's |
31/03/2007 £000's |
| Turnover | 7,947 |
10,569 |
| Operating Costs | (5,069) |
(7,854) |
|
|
|
| Operating Surplus | 2,878 |
2,715 |
|
|
|
| Surplus on Sale of Properties | 98 |
172 |
| Interest Receivable | 14 |
30 |
| Interest Payable | (1,572) |
(1,359) |
|
|
|
| Surplus for the year | 1,418 |
1,558 |
|
|
|
| Key Financial Ratios | 31/03/2008 |
31/03/2007 |
| Gearing (Loans/Reserves + SHG) | 42.81 |
39.90 |
