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.

"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


£407m
total income

59%
from social housing rent

33%
from sales of new homes
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
Expenditure (£407m) 2024-25

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.

The remuneration payable to the highest paid Director, relative to the size of the landlord
£8.63
2025

The aggregate amount of remuneration paid to Directors, relative to the size of the landlord
£46.67
2025

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