Asset management investment decisions are made on an informed basis to ensure the greatest returns on investment. These
decisions are supported by Accord’s proactive approach to asset management combined with local property and market
intelligence data.
Turnover and operating surplus/(deficit) by activity are shown below:
Turnover
Operating Surplus/ (Deficit)
2018 (£m)
2017 (£m)
2018 (£m)
2017 (£m)
General needs housing
44.920
44.435
21.814
20.081
Supported housing
14.618
13.405
4.061
2.830
Residential care homes
11.338
11.694
0.378
0.543
Shared Ownership accommodation
2.332
2.240
0.839
0.827
First Tranche Shared Ownership
0.957
0.416
0.185
0.039
Other
41.912
41.655
(0.463)
0.184
Total
116.077
113.845
26.814
24.504
In the year, 40.7% of income was derived from general needs and shared ownership lettings (2017: 41.0%), 48.9% from care
and care related activities (2017: 45.1%), and 0.8% from first tranche sales of shared properties (2017: 0.4%). In addition, Accord
generated 9.6% of its income (2017: 13.5%) from other sources, including the Accord’s LoCaL Homes factory, floating support and
children’s nurseries.
The provision of care and support and associated services continue to be one of Accord’s core operational activities. As a result
of known pressures in the Adult Social Services market the financial viability of all care and support services continues to be
monitored closely by the Board, the Care and Support Committee and the Executive.
Overall interest payable charges increased to £16.127 million (2017: £15.727 million) and debt increased from £414.071 million to
£430.334 million. The increased debt position highlights our commitment to the development of new housing supply and the
regeneration of communities, and is net of repayments on existing debt facilities.
Financial Statements 2018
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