8. Operating surplus
Group
Group
Association Association
2016 2015
2016 2015
£000
£000
£000
£000
The operating surplus is arrived at after
charging/(crediting):
Depreciation of housing properties (Note 3)
7,929
6,979
4,373
3,617
Depreciation of Social/Non Social Housing (Note 2)
114
129
671
881
Less: write off component disposals/increased on disposals
(346)
(357)
(204)
(110)
Depreciation Charge
7,697
6,751
4,840
4,388
Depreciation of other tangible fixed assets
1,762
1,945
1,003
1,067
Auditors’ remuneration (excluding VAT)
Fees payable for the audit of the financial statements
118
161
41
54
In respect of other services
26
44
3
5
Operating lease payments
1,604
1,015
311
272
Repairs and maintenance expenditure
10,768
10,440
5,590
5,651
In addition £4.851 million of repairs has been capitalised in the year 2016 (2015: £4.718 million)
9. Taxation on surplus on ordinary activities
No Corporation Tax charge arises in the Association as a result of an exemption due to charitable status (2015: £Nil). The Group
Corporation Tax charge is within bchs and arises on management services provided to Co-operatives within Birmingham and the
Black Country.
Financial Statements 2016
87