The table shows Accord has a diverse portfolio of properties, which are located across the West Midlands. The Association’s
housing stock is a combination of new build and refurbished properties. Stock condition reports confirm that the housing stock
continues to be well maintained, and are fully compliant with the requirements of the Decent Homes Standard.
Total expenditure on repairs and maintenance in the year was £14.520m (2016: £15.649m) of which £3.602m of repairs have been
capitalised in the year (2016: £4.851m), demonstrating Accord’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 Accord’s active asset management approach,
Disposal Strategy and property intelligence data.
Turnover and operating surplus/(deficit) by activity are shown below:
Turnover Operating Surplus/ (Deficit)
2017 (£m)
2016 (£m)
2017 (£m)
2016 (£m)
General needs housing
44.435
43.795
20.081
19.436
Supported housing
13.405
13.779
2.830
3.156
Residential care homes
11.694
10.870
0.543
0.605
Shared Ownership accommodation
2.240
2.283
0.827
0.835
First Tranche Shared Ownership
0.416
2.959
0.039
0.226
Other
41.655
46.451
(0.857)
(1.013)
Total
113.845
120.137
23.463
23.245
In the year, 41.0% of income was derived from general needs and shared ownership lettings (2016: 36.5%), 45.1% from care and
care related activities (2016: 45.7%), and 0.4% from first tranche sales of shared properties (2016: 2.5%). In addition, Accord
generated 13.5% of its income (2016: 13.5%) from other sources, including the Accord’s LoCaL Homes factory, floating support
and nurseries.
One of Accord’s main sources of income continues to relate to the provision of care and support and associated services. 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 and Executive.
Overall interest payable charges decreased to £15.727m (2016: £16.675 million) whilst debt increased from £400.286m to
£414.071m. 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 2017
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