Is a Housing Association classed as a public landlord?

[gas112]

what bit of a simple yes or no are you two struggling with
are they classed as NONE PROFIT making

 

[carmanmemoranda]

a simple yes or no is the question

Yes, that will do, yes or no.

Do you understand gross and nett profit?

 

[Notch7]

what bit of a simple yes or no are you two struggling with
are they classed as NONE PROFIT making

a surplus is a profit

 

[denso13]

are they classed as NONE PROFIT making

No

 

[Jowwy]

They are classed as private entities that operate within the public sector.

 

[gas112]

No

you better report them to the taxman then you could be in for a substantial reward

 

[denso13]

you better report them to the taxman then you could be in for a substantial reward

Nonsense.

 

[carmanmemoranda]

you better report them to the taxman then you could be in for a substantial reward

From 1, it might help


The surplus we make is not paid out to shareholders or spent on higher salaries or locked away in a bank vault. It is used as working capital to reduce the amount we need to borrow to build new homes. Last year we spent £64m on 625 new homes and only received £4.7m in grant. All the rest came from existing loans and cash surpluses, without the need to borrow any more money. That reduces our interest costs so creates a virtuous circle of higher profits. If we didn’t have this cash available we would quickly get into a downward spiral of increased interest costs and ever lower profits that would seriously restrict our ability to build new homes.

Overall in 2013/14 we received £181.4m of cash and spent £192m, so reduced our cash holdings by £10.6m.

So, despite the £39m surplus shown in our accounts, in real cash terms we spent more last year than we received. Housing Association surpluses don’t show this because the money we spend on new homes and some major repairs doesn’t show up on our income and expenditure accounts but on our balance sheets and cash flow statements.



Sounds like a profit to me, but its a different word, surplus.

 

[gas112]

No

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and your point about maryhill is ?

 

[denso13]

and your point about maryhill is ?

They make profits and are classed as a registered society.

 

[gas112]

They make profits and are classed as a registered society.

maryhill housing is registered as a charity so yet again different rules from a profit making company

 

[denso13]

maryhill housing is registered as a charity

Most are.

 

[carmanmemoranda]

maryhill housing is registered as a charity so yet again different rules from a profit making company

Well spotted

 

[motorbiking]

a housing association is either in the private sector or its in the public sector

it is simple

Maybe you could have explained that to the judges and lawyers who disagreed.