Income and Expenditure for year ended
31st March

2007 £'000

2008 £'000

Turnover 4778 4963     Weekly charge income
Less: Net Operating costs

(4079)

(4489)

Cost of providing services and carrying out repairs

Operating Surplus 776 562
Surplus (deficit) on property sales 60 (129)
Interest receivable and similar income 81 20 Interest earned on investments
Interest payable and similar charges

(844)

(935)

Interest paid on loans

(Deficit) Surplus for the year 73 224

Balance Sheet at 31st March

2007 £'000

2008 £'000

Fixed Assets
Tangible Assets 31,424 37,652
Investments

314

288

31,738

37,940

Current Assets Cash at bank and money owed to us
Stock 260 463
Debtors 358 403
Investments 8 7
Cash at bank and in hand

1440

1065

2066

1938

Creditors
Amounts falling due within one year

(1859)

(2539)

Debts repayable in the short term

Net current (liabilities)

(207)

(601)

Total assets less current liabilities

31,945

37,339

Creditors

Amounts falling due after more than one year

13195

14172

Debts repayable in the longer term

Reserves
Revaluation reserve: housing properties 7621 11955
Revaluation reserve: investments 183 157
Income and expenditure account 3573 4348
Designated reserves 7021 6329
Restricted reserves 352 378

31,945

37,339

Disclaimer
The above figures have been extracted from our full audited financial statements, on which the auditors expressed an unqualified opinion and which have been submitted to the Charity Commission and the Housing Corporation. These summarised accounts may not contain sufficient information to allow for a full understanding of the Association's financial affairs. For further information the full annual accounts and auditors report should be consulted.

A copy of our annual report can be provided on request.