TPAS Accounts Reveal Pre-Tax Loss of £108k

The Tenant Participation Advisory Service made a pre-tax loss of almost £108,000 in 2013 but expects to be back in the black in 2014. The organisation’s accounts for the year ending 31 March 2013 showed its pre-tax profit of £40,356 in 2012 became a loss of £107,732 a year later. Michelle Reid, the outgoing chief executive of TPAS, said it had budgeted for a £64,000 loss in 2012/13, which it would cover through its reserves because of the costs of a restructure, including redundancies, and moving to a smaller office. The organisation was also hit by a reduction in its consultancy income of about £40,000, she said. Read more on Inside Housing.