YHN Annual Report 2009-10 - Your Homes Newcastle

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Financial accounts Notes to the financial statements at 31 March 2010 1. Principal accounting policies (continued) Government grants Where grants from the Homes and Communities Agency (HCA) have been received as a contribution towards the capital cost of a scheme they are treated as deferred income and are recognised in the income and expenditure account over the useful economic life of those assets. Pension costs The company participates in the Local Government Pension Scheme, through membership of the Tyne and Wear Pension Fund. The scheme is a final salary pension scheme and retirement benefits to employees of the company are funded by contributions from all participating employers and employees in the scheme. Payments are made in accordance with periodic calculations by consulting actuaries and are based on pension costs applicable to the various participating organisations. Costs are charged to the income and expenditure account over the period benefiting from the employees’ service and disclosures are given as required by FRS17. 2. Analysis of turnover 2010 2009 £’000 £’000 Newcastle City Council Housing Revenue Account management fee 30,635 29,442 Rental income 33 - Other income 670 456 31,338 29,898 page 32
Financial accounts Notes to the financial statements at 31 March 2010 3. Analysis of operating costs 2010 2009 £’000 £’000 Employee costs 25,340 23,709 Premises 1,086 1,263 Transport 507 487 Supplies and services 4,314 4,388 31,247 29,847 Your Homes Newcastle Limited has a subsidiary Leazes Homes Limited which has charitable status. Under the corporate gift aid tax treatment regime, the company has donated 100% of its trading profit to Leazes Homes Limited in respect of the year ended 31 March 2010. For the purposes of corporation tax the amount paid is treated as a charge on income, thus reducing the chargeable profit to nil. 4. Interest payable and similar charges Interest payable of £52,849 was incurred during the year (2009: £51,144). This relates to in-year movements in notional cash balances, largely due to the profiling of management fee receipts. 5. Profit on ordinary activities before taxation The profit on ordinary activities before taxation is stated after charging/(crediting): 2010 2009 £’000 £’000 Audit fees 15 10 Depreciation of owned assets 16 - Release of deferred capital grants 7 - www.yhn.org.uk page 33
Page 1 and 2: the National Standard Your Homes Ne
Page 3 and 4: Contents Chair’s statement 4 Chie
Page 5 and 6: Look out for what is happening at:
Page 7 and 8: • we have been an active part of
Page 9 and 10: housing needs and aspirations of te
Page 11 and 12: and maintenance of homes and commun
Page 13 and 14: urhood and community partnership wi
Page 15 and 16: volvement and empowerment diverse n
Page 17 and 18: money quality services and homes to
Page 19 and 20: e and financial viability to tenant
Page 21 and 22: YHN Management structure John Lee C
Page 23 and 24: 73.1% 81% 7683 79.1% 5885 6137 08/0
Page 25 and 26: Financial accounts Independent audi
Page 27 and 28: Financial accounts Company income a
Page 29 and 30: Financial accounts Company balance
Page 31: Financial accounts Notes to the fin
Page 35 and 36: Financial accounts Notes to the fin

YHN Annual Report 2009-10 - Your Homes Newcastle

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