Finances

pie chart icon

We have a solid financial position and have the highest possible rating from the regulator for financial viability.

The charts opposite show the various sources of money which we received during our 2023/24 financial year and how we spent it.

The majority of our money comes in from rent and service charges, but we also had other sources of income during the year. Receipts from the sales of shared ownership homes were an important source of funds, and we received money from the sale of other properties as well as receiving some grant income.

We also took out some additional loans but didn’t spend all the cash we raised in the year, so we were able to earn interest by putting the surplus on deposit.

We spent about the same on housing management, providing services, and repairing, maintaining and undertaking major works to your homes as we received in rents and service charges. We used the other funds we received to develop new homes and pay interest on our loans.

Apartment building entrance

Where our money comes from

where our money comes from pie chart

Description %

⬤ Rent and Service Charge
57%
⬤ Asset Disposals & Grants Received
2%
⬤ Interest Received
4%
⬤ Shared Ownership Sales
17%
⬤ Loans & Working Capital
20%
Total
100%

How we spent our money

how we spent your money pie chart

Description %

⬤ Housing Management
16%
⬤ Services
13%
⬤ Repairs and Maintenance
11%
⬤ Major works to Existing Homes
16%
⬤ Interest Paid
10%
⬤ Development of New Homes
34%
Total
100%