Research and analysis

2023 Global accounts aggregate financial statements and data - introduction and statements (accessible version)

Published 14 December 2023

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 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 2023.

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 the accounting period ending 31 March 2023 ^{[footnote 1]}.

Income and Expenditure from Social Housing Lettings

The aggregate income and expenditure relating solely to social housing lettings activity for the accounting period ending between 31 March 2023 ^{[footnote 1]}.

Statement of Financial Position

The aggregate statement of financial position presents the sum of individual group and entity balance sheets at 31 March 2023 ^{[footnote 1]}.

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.

Statement of Comprehensive Income

£bn	Consolidated	Entity
Turnover	24.3	21.6
Operating expenditure	(16.9)	(15.8)
Cost of sales	(3.4)	(1.9)
Operating surplus/(deficit)	4.0	3.9
Gain/(loss) on disposal of fixed assets	1.2	1.2
Operating surplus/(deficit) including fixed asset disposals	5.2	5.1
Other items	2.0	0.1
Interest receivable	0.2	0.5
Interest payable and financing costs	(3.4)	(3.5)
Movements in fair value	0.2	0.3
Surplus / (deficit) before tax	4.3	2.5
Taxation	0.0	0.0
Surplus / (deficit) for the period	4.3	2.5
Unrealised surplus /(deficit) on revaluation of housing properties	0.1	0.1
Actuarial (loss) / gain in respect of pension schemes	1.3	1.3
Change in fair value of hedged instruments	0.7	0.5
Other remeasurements	(0.1)	(0.1)
Total comprehensive income for the period	6.3	4.3

Income and Expenditure from Social Housing Lettings

£bn	Consolidated	Entity
Income
Rents	15.2	14.9
Service charge income	1.7	1.6
Net rental income	16.9	16.5
Capital grant released to income	0.5	0.5
Other & revenue grant	0.3	0.3
Turnover from SHL	17.7	17.3
Expenditure
Management	3.4	3.4
Service charge costs	2.3	2.2
Routine maintenance	3.0	3.0
Planned maintenance	1.3	1.2
Major repairs expenditure	0.7	0.7
Bad debts	0.1	0.1
Lease costs	0.2	0.2
Depreciation of housing properties	2.6	2.6
Impairment of housing properties	0.1	0.1
Other costs	0.2	0.2
Expenditure on SHL	13.9	13.6
Operating surplus / (deficit) on SHL	3.8	3.7
Void rent loss	0.3	0.3

Statement of Financial Position

£bn	Consolidated	Entity
Fixed assets
Tangible fixed assets: Housing properties at cost	181.8	175.9
Tangible fixed assets: Housing properties at valuation	1.3	1.3
Other fixed assets	3.1	2.7
Investment properties	7.3	4.3
Other investments	1.8	3.7
Total fixed assets	195.4	187.9
Current assets
Properties held for sale	6.0	2.9
Trade and other debtors	2.4	2.0
Cash and short term investments	6.3	5.1
Other current assets	2.3	8.9
Total current assets	17.1	18.9
Creditors: amounts falling due within one year
Short term debt	2.5	2.5
Deferred capital grant: due within one year	0.6	0.5
Other current liabilities	7.6	7.8
Total creditors: amounts falling due within one year	10.6	10.8
Net current assets/ liabilities	6.5	8.1
Total assets less current liabilities	201.8	196.0
Creditors: amounts falling due after more than one year
Long term debt	89.8	68.1
Amounts owed to group undertakings	0.5	19.8
Finance lease obligations	0.8	0.7
Deferred capital grant: due after more than one year	39.7	38.8
Other long term creditors	2.3	2.0
Total creditors: amounts falling due after more than one year	133.2	129.5
Provisions for liabilities
Pension provision	0.7	0.7
Other provisions	1.0	0.7
Total net assets	67.0	65.2
Reserves
Income and expenditure reserve	55.2	52.6
Revaluation reserves	10.9	11.8
Other reserves	0.8	0.8
Total reserves	67.0	65.2

Other social activities

£bn	Consolidated	Entity
Total
Turnover	3.0	3.0
Expenditure / Cost of sales	3.0	2.8
Surplus	(0.0)	0.1
Of which first tranche LCHO sales
Turnover	2.1	2.0
Expenditure / Cost of sales	1.7	1.7
Surplus	0.4	0.4

Non-social activities

£bn	Consolidated	Entity
Total
Turnover	3.6	1.3
Expenditure / Cost of sales	3.4	1.1
Surplus	0.3	0.1
Of which properties developed for sale
Turnover	1.8	0.2
Expenditure / Cost of sales	1.6	0.2
Surplus	0.2	0.0

Units

No. units ‘000s	Consolidated	Entity
Social Housing Units Owned
Units developed	53	52
Units sold / demolished	(15)	(15)
Transfers and other movements	41	28
Closing units	2,817	2,776
Closing units owned and/or managed	2,870	2,849
Non-social Housing Units Owned
Units developed	2	2
Units sold / demolished	(1)	(1)
Transfers and other	(0)	5
Closing units	60	40
Closing units owned and/or managed	91	46

1. A very small number of providers have non-standard year-ends. This is highlighted in column C of the data sheets where it applies (8 Consolidated and 8 Entity returns). ↩ ↩² ↩³