As housing associations prepare for their 2023/24 annual accounts after another challenging period, Jennifer Isley guides you through this year’s reporting season.

Transparency in financial reporting and providing disclosures specific to your organisation have never been more important. For while it's comforting to say that there are no new major accounting standards to grapple with this year, the sector still faces significant pressures with increased regulation around home safety, alongside a difficult economic and political environment. 

This year, we've updated the model accounts to highlight the importance of narrative reporting, drawing on climate matters, key risk areas and judgements and estimates. The 2024 model accounts continue to follow the current Accounting Direction 2022. 

These model accounts are intended as a guide for social housing associations preparing financial statements in accordance with: 

  • FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 
  • the Statement of Recommended Practice (SORP) for social housing providers 2018 
  • the Accounting Direction 2022. 

These will act as a best-practice guide to help you prepare financial statements with year-ends from 31 December 2023 onwards. For many of you, this will be 31 March 2024, so we've modelled this in our housing associations accounts. 

Many of our clients use these accounts to identify key reporting disclosures, and we've tried to include everything we'd expect to see.

For further support or to suggest future additions to the housing associations model accounts, contact Harriet Raine.


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