How we’re performing financially
We’re pleased to report continued improvement in our operating surplus as we focus
on improving efficiency in the business. We plough our entire surplus in to building more
homes and supporting communities.
Operating surplus improved by £4m to £42m
Surplus on sales is £19m - £9m higher than last year
Surplus after sales and interest costs is £30m
Turnover increased by 1.3% to £161m reflecting the rent increase in year partly offset
by a reduction in income from provision of temporary housing
Operating costs decreased by 1.7% to £119m
We spent £35.5m on major works and planned repairs
We continue to generate sufficient surplus without sales to cover our interest costs.
Consolidated income and expenditure account
Income
received as
rent and sale
of shared
ownership
properties
Money
recovered from
selling houses
and flats, less
the value of
the properties
2014/15
£m
2013/14
£m
161
159
(119)
(121)
Operating surplus
42
38
Surplus on sale of properties
19
10
Net Interest payable
(31)
(31)
Surplus for the year
30
17
Turnover
Operating costs
Money spent
on managing
and repairing
properties,
including
running costs
of office
and staff
Total interest
charged on
loans minus
the interest
received on
bank deposits
Audit Report: The above is an extract of AmicusHorizon’s full accounts, which have been
audited by BDO LLP and have received an unqualified audit report.
You can get copies of the full accounts from:
www.amicushorizon.org.uk/Leaflets-Publications/Our-Financial-Statements.aspx / http://www.amicushorizon.org.uk/Leaflets-Publications/VFMAnnual-Report-2014-15.aspx
or [email protected] or call 0800 121 60 60
16
AmicusHorizon Annual Review 2014/15