Research and analysis

Global accounts 2021 Aggregate Financial Statements and Data - Introduction and Statements (accessible version)

Updated 24 February 2022

Applies to England

Introduction

This database contains data from the annual account regulatory returns (known as FVAs) which must be submitted by private registered providers managing at least 1,000 units and are derived from their audited financial statements.

The database excludes regulatory returns submitted by two providers with non-standard financial year ends. These providers have year ends of 30 September 2020 and 31 October 2020. The period covered in their financial statements would not be commensurate with the rest of the dataset (based mainly on the period 1 April 2020 to 31 March 2021). Neither of the excluded providers materially impact the figures in this publication.

The Global Accounts are based on this database of information.

The information received in the FVA is simply added to produce the aggregate statements of comprehensive income and financial position for the sector as at 31 March 2021.

The majority of large providers are part of a group structure. Group structures can include multiple registered providers and non-registered entities. The Global Accounts publication considers providers’ accounts on both a registered entity (entity level) and group consolidated basis (consolidated level). Both datasets are included in this file.

Statements

Statement of Comprehensive Income

Presents the aggregate turnover, surplus and comprehensive income of consolidated groups and entities for all accounting periods ending between 1 April 2020 and 31 March 2021.

Income and Expenditure from Social Housing Lettings

The aggregate income and expenditure relating solely to social housing lettings activity for all accounting periods ending between 1 April 2020 and 31 March 2021.

Statement of Financial Position

The aggregate statement of financial position presents the sum of individual group and entity balance sheets whose financial year ends fall within the period from 1 April 2020 to 31 March 2021.

Unit numbers

The unit numbers show the number of housing properties owned that were developed, sold/disposed or transferred during the period. Year end totals are shown for both units owned and units owned and/or managed.

Statements

SOCI

£bn	Consolidated		Entity
Turnover	22.1		19.8
Operating expenditure	(14.1)		(13.3)
Cost of sales	(3.0)		(1.7)
Operating surplus / (deficit)	4.9		4.9
Gain/(loss) on disposal of fixed assets	0.9		0.9
Operating surplus / (deficit) including fixed asset disposals	5.8		5.7
Other items	0.2		0.2
Interest receivable	0.1		0.3
Interest payable and financing costs	(3.4)		(3.5)
Movements in fair value	0.2		0.2
Surplus / (deficit) before tax	2.9		2.9
Taxation	0.0		(0.0)
Surplus / (deficit) for the period	2.9		2.9
Unrealised surplus /(deficit) on revaluation of housing properties	0.1		0.1
Actuarial (loss) / gain in respect of pension schemes	(1.4)		(1.3)
Initial measurement of defined benefit pension liability	(0.0)		(0.0)
Change in fair value of hedged instruments and other remeasurements	0.4		0.3
Total comprehensive income for the period	1.9		2.0

Income and Expenditure from Social Housing Lettings

£bn	Consolidated		Entity
Income
Rents	14.0		13.7
Service charge income	1.5		1.5
Net rental income	15.4		15.2
Capital grant released to income	0.5		0.5
Other & revenue grant	0.2		0.2
Turnover from SHL	16.1		15.9
Expenditure
Management	3.0		3.0
Service charge costs	1.9		1.8
Routine maintenance	2.3		2.3
Planned maintenance	1.0		1.0
Major repairs expenditure	0.5		0.5
Bad debts	0.1		0.1
Lease costs	0.1		0.1
Depreciation of housing properties	2.4		2.4
Impairment of housing properties	0.0		0.0
Other costs	0.2		0.2
Expenditure on SHL	11.6		11.4
Operating surplus / (deficit) on SHL	4.6		4.5
Void rent loss	0.3		0.3

Statement of Financial Position

£bn	Consolidated		Entity
Fixed assets
Tangible fixed assets: Housing properties at cost	164.4		158.6
Tangible fixed assets: Housing properties at valuation	1.7		2.5
Other fixed assets	3.0		2.7
Investment properties	6.9		3.9
Other investments	1.8		4.1
Total fixed assets	177.8		171.7
Current assets
Properties held for sale	7.1		3.2
Trade and other debtors	2.1		1.5
Cash and short term investments	8.6		7.4
Other current assets	2.0		8.8
Total current assets	19.7		20.9
Creditors: amounts falling due within one year
Short term debt	3.6		3.2
Deferred capital grant: due within one year	0.5		0.5
Other current liabilities	6.5		6.9
Total creditors: amounts falling due within one year	10.6		10.6
Net current assets/liabilities	9.1		10.3
Total assets less current liabilities	186.9		182.1
Creditors: amounts falling due after more than one year
Long term debt	81.7		62.4
Amounts owed to group undertakings	0.3		18.1
Finance lease obligations	0.6		0.5
Deferred capital grant: due after more than one year	38.5		37.5
Other long term creditors	4.1		3.3
Total creditors: amounts falling due after more than one year	125.2		121.8
Provisions for liabilities
Pension provision	3.4		3.1
Other provisions	0.9		0.8
Total net assets	57.4		56.4
Reserves
Income and expenditure reserve	46.2		44.7
Revaluation reserves	11.9		12.2
Other reserves	(0.7)		(0.5)
Total reserves	57.4		56.4

Other social activities

£bn	Consolidated		Entity
Total
Turnover	2.4		2.6
Expenditure / Cost of sales	2.4		2.4
Surplus	0.0		0.2
Of which first tranche LCHO sales
Turnover	1.6		1.6
Expenditure / Cost of sales	1.4		1.3
Surplus	0.3		0.3

Non-social activities

£bn	Consolidated		Entity
Total
Turnover	3.5		1.3
Expenditure / Cost of sales	3.2		1.1
Surplus	0.3		0.2
Of which properties developed for sale
Turnover	1.9		0.3
Expenditure / Cost of sales	1.7		0.2
Surplus	0.2		0.0

Units

No. units ‘000s	Consolidated		Entity
Social Housing Units Owned
Units developed	40		39
Units sold / demolished	(13)		(13)
Transfers and other movements	4		7
Closing units	2,736		2,701
Closing units owned and/or managed	2,789		2,773
Non-social Housing Units Owned
Units developed	1		1
Units sold / demolished	(1)		(1)
Transfers and other	1		3
Closing units	56		37
Closing units owned and/or managed	94		46