Annual Review 2014/15 Issue 1 | Page 17

„„ Our fixed assets increased by £65m reflecting £50m investment in new homes and £15m investments on existing homes „„ This year we received £11.5m social housing grant to support our development programmes. Consolidated balance sheet Fixed assets are what we own – including properties and office equipment 2014/15 £m 2013/14 £m 728 695 43 47 Total assets less current liabilities 771 742 Long term liabilities 681 675 90 67 771 742 Tangible fixed assets Net current assets Reserves Money spent on managing and repairing properties, including running costs of office and staff Total interest charged on loans minus the interest they receive on bank deposits Includes money borrowed by AmicusHorizon to build homes. One of the main ways we fund the building of new homes is by borrowing money. Each year we pay around £31m in interest on long term borrowing. A lot of work goes into financial planning to ensure this borrowing is done sensibly and our debts are managed effectively. AmicusHorizon Annual Review 2014/15 17