Page 47 - Housing Solutions Annual Report

Statements of Comprehensive Income

For the year ended 31 March 2019

Group Group Association Association
Note 2020 2019 2020 2019
£’000 £’000 £’000 £’000

Turnover 3 45,768 45,804 45,576 45,688
Cost of sales 3 (3,472) (3,076) (3,439) (3,039)
Gain on disposal of assets 3 372 1,160 372 1,160

Operating costs 3 (26,837) (24,360) (26,760) (24,284)

Operating surplus 3 15,831 19,528 15,749 19,525
Loss on disposal of tangible fixed 8 - (486) - (486)
assets others
Interest receivable and other income 9 154 242 205 293
Interest payable and financing costs 10 (12,960) (13,347) (12,960) (13,347)
Movement in fair value of 14 2,200 (310) 2,200 (310)
investment properties
Decrease in valuation of 12 (10,962) (9,360) (10,962) (9,360)
housing properties
Reversal of decrease in valuation 12 9,403 6,994 9,403 6,994
of housing properties

Surplus on ordinary activities 3,666 3,261 3,635 3,309
before taxation

Tax on surplus on ordinary activities 11 (1) - - -

Surplus for the year 3,665 3,261 3,635 3,309
Unrealised surplus on revaluation 12 25,676 25,028 25,676 25,028
of housing properties
Actuarial gain on defined benefit 27 2,453 1,285 2,453 1,285
pension scheme

Total comprehensive income for the year 31,794 29,574 31,764 29,622

All of the Group and Association’s turnover and surplus disclosed above are derived from continuing
activities.
The accompanying accounting policies and notes on pages 52 - 85 form an integral part of the financial
statements.

The financial statements were approved and signed and authorised for issue by the Board of Management
on 23 September 2020 and are signed on its behalf by:

Chairman Chief Executive Company Secretary
Elizabeth Padmore Orla Gallagher Shazia Nazir

Annual Report and Accounts 2020 47

10/11/2020 13:35
16645.02 HS Annual Report 86pp A4 v10.indd 47 10/11/2020 13:35
16645.02 HS Annual Report 86pp A4 v10.indd 47