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2022 model accounts for housing associations

Debbie Watson Debbie Watson

As housing associations prepare for their 2021/22 annual accounts in a post pandemic brave new world, it has never been more important to be transparent in financial reporting and providing disclosures as specific to the organisation as possible.

Whilst it is comforting to say that there are no new major accounting standards to grapple with this year, the sector faces significant pressures in its post COVID-19 recovery period which may have accounting and reporting ramifications.

Debbie Watson offers her thoughts to help guide you through this year’s reporting season.

To help overcome this challenge, this year we have updated the model accounts for the new Accounting Direction 2022 and some incremental improvements to notes and accounting policies based on our sector experience.

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.

Download our housing associations model accounts [ 2054 kb ]

These will act as a best-practice guide to help you prepare financial statements with year-ends from 31 December 2021 onwards. For many of you, this will be 31 March 2022, so we've modelled this in our housing associations accounts.

In addition to the changes made as per the new Accounting Direction 2022, we have included additional guidance on best practice in narrative and financial reporting from our observations and incorporated some key messages from the Financial Reporting Council. The main changes are under Appendix A in the model accounts.

Many of you have told us you use these accounts to identify key reporting disclosures, and, as always, we've tried to include everything we'd expect to see. Of course, we can't cover every eventuality, so if you need further support, get in touch.

I hope you find these housing associations model accounts useful as you prepare for this year’s reporting.

If you have any feedback or suggestions for future additions to the housing associations model accounts, contact Debbie Watson.