Financial Statements 2018 financial statement- joomag | Page 54

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