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Financial Performance

12 months to 31st December 2014

In 2014 the Society achieved a new record level of total assests of £138 million, an increase of 10.61% (2013: 13.73%) . The Society saw record gross lending of £23.1m (2013 £18.4m), with net lending increase to £13.8m .In addition, there was an increase in savings balances to £129.1 (2013: £116.6m). 

Savings increased by 10.72% (14.36% in 2013) from £116.60m to £129.1m.  Mortgage lending increased by 9.91% (7.64% in 2013). Provisions made against possible losses were increased to £257,000 (248,000 in 2013) as a prudent measure against difficult trading times.

Overall net profit was up 43.28% on the previous year at £576,000 (2013 £402,000). Profit before tax rose by 44.68% from £517,000 in 2013 to £748,000 in 2014.

The Society operates with a very low margin between savings and borrowing rates in order to deliver value to both borrowers and savers.

Revenue and net profit

These graphs give you a snapshot of how the business has performed over the last five years. Revenue shows you how much money the business has brought in every year for the last five years. The net profit shows you how much of that money ended up as profit after all of the costs of running the business, and after tax. Read more

Profit and loss summary and profitability indicators

The Profit and Loss summary and profitability indicator tables show how profitable the business has been over the last year. Read more

Profit and loss summary Profitability indicators
Revenue £4,538,000 Initial return on mean assets 3.5%
Total operating income £2,616,000 Gross margin 58%
Administrative costs and depreciation £1,868,000 Efficiency 29%
Profit before tax £748,000 Net margin 29%
Corporation tax paid £172,000 Effective tax rate 22%
Net profit for the year £576,000 Net return on mean assets 0.4%

Balance sheet summary and solvency indicators

The balance sheet of a business gives you a picture of everything the business owns. It shows you all the cash the business has received and what it has done with it. Read more

Solvency indicators are designed to show you the most important factors affecting the amount of cash the business has available. Ethex shows different indicators according to whether the business is a trading business, (buying and selling goods), or a financial business, (taking money and lending or investing it on). Read more

Balance sheet summary Solvency indicators
Total assets £138,048,000 Lending level 75%
Total liabilities £131,097,000 Liquidity 34.8%
Reserves £6,951,000

Returns and value

Important note

Returns and value indicators are not shown because Ecology does not currently have shareholders. Ecology's members are sometimes referred to as shareholders, but they do not share in the risks of the business and so cannot be regarded as equity shareholders in the formal sense.

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