The Cunninghame Group of Companies are needed to give a wide range of financial information to various stake holders. These include 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 spending relates to reactive repairs, planned, 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. The rest of the funding comes from Private Finance (loans).
Our accounts are prepared in line with Statement of Recommended Practice (Financial Reporting Standard 102). Full details of income and spending 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 AGM. A full copy of our Audited Accounts are given to the Scottish Housing Regulator and our lenders.