The Cunninghame Group of Companies are required to provide a wide range of financial information to various stakeholders including the Scottish Housing Regulator and our lenders. Internally we produce quarterly management accounts and annual accounts; these track our progress against our annual budgets as well as our 5 year budgets and 30 year projections.
Financial submissions to the Scottish Housing Regulator include the provision of Financial Statements for our subsidiary companies – Citrus Energy Ltd and Cunninghame Furniture Recycling Company.
The majority of our income comes from the rents and service charges we receive from our tenants. Our general expenditure relates mainly to reactive repairs, planned and cyclical maintenance costs and general overheads such as staffing and administration costs.
We also receive Housing Association Grants from the Scottish Government to partly fund our new build projects with the remaining funding coming from Private Finance (loans).
Our accounts are prepared in accordance with Statement of Recommended Practice (Financial Reporting Standard 102). Full details of income and expenditure are contained within our Financial Statements which are included on this page.
Our Annual Accounts are audited by our External Audit Company and presented to the Board of Management at our Annual General meeting; Thereafter a full copy of our Audited Accounts are provided to the Scottish Housing Regulator and our lenders.