The Society publishes a number of reports that provide insight into the workings of the organisation. These include:
2008/09 was a good year financially for the Society, which now has over 2,200 properties in ownership or under management. Our surplus of £1.2 million helped fund 150 additional properties, with 200 more homes in the pipeline. The Society's 2008/09 board report and financial accounts are 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. During the year, over £1.5 million was spent on major improvements to properties. This work included boiler replacements, new kitchens, re-wiring, an external decoration programme and a number of improvements to communal areas.
The Society's Business Plan for 2010/11 - 2014/15 is also available for review.
| Balance Sheet as at 31 March 2009 | 31/03/2009 |
31/03/2008 |
£000's |
£000's |
|
| Housing Assets | 107,309 |
94,551 |
| Less | ||
| Social Housing Grant | (46,521) |
(44,005) |
60,788 |
50,546 |
|
| Other fixed assets | 135 |
154 |
| Total Fixed Assets | 60,923 |
50,700 |
| Current Assets | 2,659 |
1,113 |
| Current Liabilities | (4,278) |
(3,486) |
| Net Current Assets | (1,619) |
(2.373) |
| Total Assets less current liabilities | 59,304 |
48,327 |
| Financed by | ||
| Loans | 36,524 |
26,778 |
| Reserves | 22,780 |
21,549 |
59,304 |
48,327 |
|
| Income and Expenditure - Year ended 31 March 2009 |
31/03/2009 £000's |
31/03/2008 £000's |
| Turnover | 8,833 |
8,619 |
| Operating Costs | (6,205) |
(5,571) |
| Operating Surplus | 2,628 |
3,048 |
| Surplus on Sale of Properties | 71 |
98 |
| Interest Receivable | 8 |
14 |
| Interest Payable | (1,476) |
(1,572) |
| Surplus for the year | 1,231 |
1,588 |