Page 8 - Housing Solutions Annual Report
P. 8

Operating and Financial Review


            and Report of the Board


            For the year ended 31 March 2019



                                  Every year has its             We’re a caring, passionate team and we are well
                                  challenges, particularly in    known in the local community. That’s because we
                                  housing which is so heavily    are part of it – 90% of staff live in the areas we
                                  impacted by shifts in the      serve, which makes our residents our neighbours.
                                  political and economic         So I want to say a huge thank you to them, everyone
                                  landscape. But 2019/2020       has played an essential part and continues to do so.
                                  really stands out and not
                                  only because it was our 25th   I’m also very lucky to be supported by such a
                                  anniversary. We already had    talented and experienced senior management and
            plenty on our plate with the lingering uncertainties   executive team. As mentioned in the Chairman’s
            of Brexit. And then Covid-19 arrived.                statement, this year we strengthened our top team
                                                                 with the addition of Finance Director David Joyce
            During lockdown providing safe and secure            who joined in February 2020, and Director of
            housing for all our residents was more essential     Housing and Asset Management Steven Brookfield,
            than ever. But delivering the services we specialise   who joined in November 2019.
            in, especially to those that need them the most,     Our Senior Management Team has also been
            suddenly became much, much harder. Our response      enhanced by some exciting new appointments:
            has reaffirmed what an amazing team and business     Emily Orme, Head of Housing, Maureen Achuka,
            we have at Housing Solutions.                        Head of Finance, Simon Bastienne, Head of Treasury

            In a crisis the ability to clearly identify potential   and Business Planning, and Company Secretary
            problems and act quickly is vital. As a medium-sized   Shazia Nazir who joined in March 2020. They
            regional housing association we’ve been able to do   probably weren’t expecting quite such a dramatic
            that. Our agility, trusted position in the community   start to their time at Housing Solutions, but they’ve
            and connections with other local organisations       all responded heroically.
            meant we could swiftly identify residents who may    As an organisation our robust business plan
            struggle and come up with solutions.                 will help us weather this storm. I have no doubt
            We were able to call on existing partnerships with   there will be some difficult times ahead, but we
            charities and local authorities and build new ones   have strengthened our position this year. We’ve
            that gave us the capacity to step in where we were   maintained our A+ S&P Global Rating and our G1
            needed. For example, we worked with The Brett        V1 rating from the Regulator of Social Housing. We
            Foundation to deliver food and essential supplies    remain financially strong with turnover of £45.8m,
            to those who couldn’t leave their homes. We also     an operating surplus of £15.8m and an operating
                                                                 margin of 33.6%%.
            connected with our care providers and chief
            executives in nearby housing associations, to share   I’m pleased to say we also smashed our building
            best practise and work together where we could.      target by investing £27m in the construction of
            Our contacts and ability to move quickly have been   203 new affordable homes, 43 more than the 160
            crucial here and it’s a network of partners we aim to   we’d originally aimed for. Admittedly our sales of
            keep building.                                       shared ownership homes dipped from £6.3m in the
                                                                 previous year to £4.9m, but Brexit and Covid-19
            Of course, none of this would have been              have brought a volatility to the housing market
            possible without all the dedicated and, frankly,     that we may have to live with for some time. By
            inspiring colleagues. So many people at Housing      contrast the rest of the business has continued to
            Solutions went above and beyond: from the gas        grow. In fact, leaving sales to one side, turnover has
            maintenance teams who ensured full compliance at     increased by £1.5m.
            the end of the year even when the pandemic was
            at its height, to those who called in on our most    So the numbers look good. But at its heart providing
            vulnerable residents, delivered essential goods,     good housing isn’t a numbers game. It’s about
            found dog walkers and took on other important day-   people. Are residents proud of living in their homes
            to-day services.                                     and communities? Are we giving them the services



            8    Annual Report and Accounts 2020






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