Total expenditure on repairs and maintenance in the year was £15.649 million (2015: £15.158 million) of which £4.851 million of repairs
have been capitalised in the year (2015: £4.718 million), demonstrating the Group’s on-going commitment to investing in its existing stock
on both a responsive and planned/cyclical replacement basis. Asset management investment decisions are made on an informed basis to
ensure the greatest returns on investment. These decisions are supported by the Group’s active asset management approach, Disposal
Strategy and property intelligence data. Group turnover and operating surplus/(deficit) by activity are shown below:
Turnover
Operating Surplus/(Deficit)
Year
2016 2015
2016 2015
£m £m
£m £m
Total (restated) (restated)
General needs housing
Supported housing
Domiciliary care services
Residential care homes
Shared ownership accommodation
First tranche shared ownership
Other
Total
43.795
13.779
30.279
10.870
2.283
2.959
16.172
40.047
13.000
29.516
6.874
2.132
3.074
18.512
120.137 113.155
19.436
3.156
0.514
0.605
0.835
0.226
(1.527)
17.713
3.073
(0.372)
(0.997)
0.787
0.031
(1.921)
23.245 18.314
In the year, 36.5% of income was derived from general needs and shared ownership lettings (2015: 36.4%), 45.7% from supported
housing and care related activities (2015: 43.6%), and 2.5% from first tranche sales of shared properties (2015: 2.8%). In addition, the
Group generated 13.5% of its income (2015: 16.4%) from other sources, including the Accord’s LoCaL Homes factory, floating support
and nurseries. The focus of the Group’s main source of income continues to relate to the provision of social housing, care and support
and associated services. The Group continues to monitor the financial viability of all care and support services closely at an Executive
level. Group-wide interest payable increased to £16.675 million (2015: £14.397 million) as debt increased from £396.172 million to
£400.286 million. The increased debt position highlights our commitment to the development of new housing supply and the regeneration
of communities.
Financial Statements 2016
55