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London County Council 1912

[Report of the Medical Officer of Health for London County Council]

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Annual Report of the London County Council, 1912.
Repairs and
The amount standing to the credit of this fund on 31st March, 1913, was £19,316 10s. 9d., of
which £19,103 4s. 2d. was invested. The expenditure during the year exceeded the credits
to this fund by £564 5s. l0d.
Capital expenditure
and debt on
The total expenditure on capital account up to the 31st March, 1913, in respect of Dwellings
under Improvement Acts amounted to £743,351 4s. The Summary of Financial Results shows
the apportionment of this figure as between land and buildings. The capital expenditure during the
year 1912-13 amounted to £45 3s. l0d.
The practice with regard to the charge to the capital account of the dwellings in respect of the
value of the site is the same as for dwellings erected to rehouse persons displaced by clearance schemes
under Parts I. and II. of the Housing Act.
Appendix XIX. shows the estimated commercial value and housing value in respect of all
sites utilised for the erection of working class dwellings under Improvement Acts, whether
the dwellings have been erected by Dwellings Companies or by the Council. As regards sites sold
to Dwellings Companies, the aggregate commercial value at the time of disposal is estimated
at £255,435, and the aggregate housing value as mainly represented by cash received from Dwellings
Companies is £131,007 the difference of £124,428 being charged against the accounts of the
improvements. The aggregate commercial value on the same basis of sites acquired or appropriated
by the Council is estimated at £416,277, and the housing value charged to dwellings accounts
at £108,213 the difference of £308,064 being charged against the accounts of the improvements.
As regards the debt in respect of Dwellings under Improvement Acts, the variation in the method
of stating the Council's stock debt has been already referred to in the previous section of this memorandum.

Financial Results of all Dwellings and Estatz» to31s<March,1913.

The total financial results on all dwellings and estates from April, 1894 (the date of the opening of the first block) to the 31st March, 1913, apart from contributions from or to rates, are as follows—

Housing of the Working Classes Act. 1890—£s.d.
Part Isurplus39 ,55747
Part IIsurplus3,38810_
Part IIIdeficiency26,112147
Estates in course of developmentdeficiency78,25522
Total under Housing Actdeficiency61,42222
Improvement Actssurplus11,74764
Net aggregate deficiency49,6741510
Contributions from Tramways Account1,15173
Net contributions from Rates48,52387
Details on page liv£49,6741510

(The net aggregate deficiency at 31s< March, 1912, was £56,972 2s. 9d.)
These results are arrived at after (a) charging interest on capital outlay, (b) making full provision
for repairs and renewals, and (c) setting aside a sinking fund sufficient to replace the capital
outlay on land and buildings and estates in course of development within a period of 60 years. The
. accumulations of the sinking fund on 31st March, 1913, amounted to £221.833 14s. Id. (including
£13,684 16s. 3d. proceeds of sales).