accord_fs_2020_JD_FINAL | Page 38

36 | Accord Housing Association
Statement of Comprehensive Income for the year ended 31 March 2020
2020
2019
Note
£ 000s
£ 000s
Turnover
2
124,958
119,646
Operating expenditure
2
( 98,787 )
( 92,797 )
Gain on disposal of property , plant and equipment
4
4,624
454
Gain on disposal of tangible fixed assets
4
516
-
Operating surplus
31,311
27,303
Interest receivable
119
48
Interest and financing costs
5
( 17,485 )
( 17,131 )
Surplus before tax
8
13,945
10,220
Taxation
9
-
33
Surplus for the year
13,945
10,253
Net impact of the initial recognition of multi-employer defined benefit scheme
28
-
( 4,110 )
In year actuarial movement of pension scheme
28
7,245
( 2,474 )
Total comprehensive income for the year
21,190
3,669
The results for both years are wholly attributable to continuing activities . The notes on pages 40 to 72 form part of these financial statements .
These financial statements were approved by the Board of Directors on 30 July 2020 and signed on its behalf by :
Elisabeth Buggins Chair
Dr Christopher Handy Board Member
Stuart Fisher Secretary