Finance

We seek to be well managed and efficient, and to deliver services that offer value for money.

OUR GOAL

Our goal is to ensure we have the financial resources we need to deliver our plans. We seek to be well-managed and efficient, delivering “Value For Money” services. We look ahead to ensure that we will remain financially viable in the long term.

WHAT WE DID

In the last year we have continued to grow. We spent more than £4m on new and existing housing assets. New move-on accommodation was developed and a large care home in Nottingham was purchased for redevelopment and refurbishment. Major new services have contributed to growth in income of 15%, reaching £35.1m.

We also increased our surplus. Previously, the surplus had dropped to less than 1% of income. At the end of last year this stood at £870,000, which at 2.5% of income, represents a sustainable level of performance.

We also reviewed our long-term financial plans during the year. This review demonstrated that we remain viable in the long term, with the ability to deliver our asset management plans.

WHAT WE DID

  • £4.6m housing assets developed in the year – funded by £1.3m loans, £1.0m capital grants, £2.3m cash reserves.
  • Growth in services, growth in revenues: 15% increase in revenues; 3% increase in accommodation units in management.
  • Long-term financial plan and 30 year Asset Management programme were developed and agreed.

THE YEAR AHEAD

Our financial environment continues to be very challenging. We will need to manage our budgets well to ensure surpluses do not drop again. We will carry on developing and investing in our housing assets. The new expanded care service and other accommodation moves are due to complete in the coming year.

STATUTORY ACCOUNTS

*To view our statutory accounts please click here.