Our finances

Our financial strength has never been more vital in allowing us to support customers while also working to achieve our longer-term ambitions.

Efficient and effective budgeting across our whole organisation, coupled with informed spending decisions and with customer impact front of mind, have been central to the management of our finances this last year.

Here you’ll find information about where our money has come from and see what we’ve spent it on in the last 12 months. We’ve included further details about various aspects of our finances, from our long-term borrowing to the total worth of our existing homes, all of which provides us with the capacity to achieve our ambitions, from investing in our services and existing homes to being able to build more new affordable housing.

There's also a downloadable version of our Annual Report and Accounts pdf for this last financial year.

David Ball - VIVID Interim Chief Financial Officer

"As we look to deliver even more for our customers through improved services, homes and neighbourhoods while also building more new affordable housing in this challenging time for the sector, it’s never been more important to manage our business efficiently and effectively. Over the last year, we’ve continued to balance our budget carefully, making sure every pound spent is one that’s spent well and wisely."

- David Ball, Interim Chief Financial Officer

Where our money comes from and how it's spent

Being open and transparent is about more than our policies, procedures and promises; it's also showing clearly where our money comes from and what it's spent on.

Total income 2024-25

Pie chart showing VIVID finance income
Couple at home painting

£407m

total income

Family at home, children running through door

59%

from social housing rent

Bury Farm development, Whiteley

33%

from sales of new homes

£0m

Spent on

maintenance costs

How is our rent income spent?

There are several expenses needed in order to ensure your home, block or building and surrounding estate is maintained, and costs involved for the services we provide on top of insurance.

We want to ensure your home is safe and secure.

Spent on service costs

£0m

Expenditure (£407m) 2024-25

Pie chart showing VIVID finance expenditure

Directors' remuneration

To aid transparency and comparability with other housing associations we're able to show the pay to our Chief Executive, the pay to the Board and Directors, and our overall operating costs as a cost per property owned or managed by us.

Whiteley Meadows development drone photo

The remuneration payable to the highest paid Director, relative to the size of the landlord

£8.63

2025

Military Road development

The aggregate amount of remuneration paid to Directors, relative to the size of the landlord

£46.67

2025

Kingston Place development, Portsmouth

Management costs, relative to the size of the landlord

£4,249

2025

NB: Relative to size of landlord means number of homes (32,481 social homes) to base calculation on.

The capacity to achieve our ambitions

We’ve continued the steady growth in our asset base which has allowed us to maintain our financial strength during a challenging year. And our financial strength means we can invest more in our services to improve customer experience.

2019-20
2020-21
2021-22
2022-23
2023-24
2024-25
Turnover
326,660
310,994
303,328
332,852
357,850
407,478
Operating surplus
106,998
92,088
99,730
106,167
109,932
124,840
Net surplus before tax
71,115
62,357
72,214
72,136
54,319
62,065
Housing properties at cost
2,517,019
2,698,300
2,579,957
2,816,814
3,209,455
3,536,551
Long-term loans
1,273,718
1,312,444
1,406,295
1,537,374
1,860,612
2,117,079
Net current assets
161,720
136,546
150,589
108,651
121,523
157,644
Net assets
600,005
640,499
714,735
785,999
834,423
899,921
Operating cost per unit £s
3,380
3,512
3,516
3,854
4,275
4,448

All figures are £'000 unless otherwise indicated. Figures are stated in accordance with FRS102.

Download our annual review and financial statements 2024-25

Environmental, social and governance

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