Page 16 - Housing Solutions Annual Report

GROUP HIGHLIGHTS, FIVE YEAR SUMMARY
2020 2019 2018 2017 2016
Group Statement of Comprehensive £’000 £’000 £’000 £’000 £’000
Income
Total turnover – SOCI 45,768 45,804 43,883 45,965 43,339
Turnover excluding Sales – Note 3 40,918 39,463 38,925 34,628 33,607
EBITDA (excluding Sales) 20,993 21,307 22,571 26,827 23,884
Operating surplus (before exceptional 15,831 19,578 21,731 21,686 19,317
items)- SOCI

Group Statement of Financial Position
Housing and investment properties (at 576,856 529,530 475,413 441,026 428,736
valuation)
Other FA and intangible fixed assets 11,400 10,651 10,665 9,642 9,817

Tangible and intangible fixed assets 588,256 540,181 486,078 450,668 438,553
Long term investments – BS 2,519 2,427 2,427 2,427 2,427
Net current assets – BS 9,810 15,883 48,296 63,854 68,649

Total assets less current liabilities – BS 600,585 558,491 536,801 516,949 509,629
Loans (due over one year) - BS (295,514) (283,239) (290,599) (303,696) (306,117)
Less: Debt Service Reserve - - - - -

Net Loans (295,514) (283,239) (290,599) (303,696) (306,117)
Pensions liability - BS (18,168) (20,093) (20,667) (20,624) (14,656)
Net assets – BS 286,903 255,159 225,535 192,629 188,856

Reserves: Revenue – BS 129,020 133,239 111,736 51,584 44,493
Revaluation – BS 157,883 121,920 113,799 141,045 144,363
Total 286, 903 255,159 225,535 192,629 188,856

Housing properties owned at year end: No. No. No. No. No.
Social Housing - Note 4 5,806 5,625 5,525 5,337 5,236
Non-social Housing 88 80 78 78 78
5,894 5,705 5,603 5,415 5,314

Statistics:
EBITDA as % of turnover – excluding 51.30% 53.99% 57.99% 60.19% 57.51%
property sales
Operating surplus as % of turnover 34.6% 42.7% 49.5% 47.2% 44.6%
Rent arrears (gross arrears as % of rent 2.88% 2.39% 2.27% 1.84% 1.99%
and service charges receivable)*
Liquidity (current assets divided by 1.5 1.8 3.9 9.3 9.1
current liabilities)
Gearing (total loans as % of value of 56.3% 60.0% 67.0 % 64.4% 66.9%
completed housing properties)

*This excludes rent receivable from care homes and leaseholders as these are paid in advance.

16 Annual Report and Accounts 2020

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