8. OPERATING SURPLUS
2018 2017
£’000
£’000
The operating surplus is arrived at after charging/(crediting):
Depreciation of housing properties (Note 3)
8,092
7,437
Depreciation of Social/Non Social Housing
128
122
Less: write off component disposals/increased on disposals
(150)
(280)
Depreciation Charge (note 10A)
8,070
7,279
Depreciation of other tangible fixed assets
1,448
1,656
Auditors’ remuneration (excluding VAT)
Fees payable for the audit of the financial statements
64
117
In respect of other services
16
59
Fees payable to Grant Thornton UK LLP in respect of other non-audit services relate to Corporation Tax services and service
charge statement audits.
Operating lease payments
1,880
1,672
Repairs and maintenance expenditure
10,277
10,918
In addition £3.527 million of repairs has been capitalised in the year (2017: £3.602 million)
9. TAXATION ON SURPLUS ON ORDINARY ACTIVITIES
The Corporation Tax charge arises on management services provided to Co-operatives within Birmingham and the Black Country.
Financial Statements 2018
53