Our finances
Our ongoing financial strength is clearly demonstrated by the extent and scope of our work this year. From continued strong investment in both existing and new homes, we’ve maintained a clear focus on improving customer services supported by harnessing data and customer insight. All of this has been against a backdrop of new regulations and legislation, which itself has generated further costs. Without excellent budgetary management, the scope of our work and progress this last year simply wouldn’t have been possible.
Here you’ll find details about all areas of our finances from the last year, including information about where we’ve spent money as well as where it’s come from. You’ll also be able to see details of the value of our homes and the monies we’ve borrowed in support of delivering our vision of more homes, bright futures.
If you’re interested in finding out more about our finances, there’s a downloadable version of our Annual Review, which include all our financial accounts for this last financial year.
"With our regulatory check once again confirming the strength of our financial viability, it highlights the care and commitment we’ve continued to apply to all aspects of our finances, ensuring we remain well placed to deliver homes and support customers. As a result of our strong financial management, we’ve had another year where we’ve been able to invest in customer services, in our customers’ homes and communities, as well in the new homes of tomorrow.
As we move from this year, which has felt more certain, the next 12 months potentially stand to be testing, for our customers, our staff and our wider supply chain. One comfort we do have is that we’ll be entering this next year with continued strong financial health and in the knowledge we’ve the robust budgetary management that’s needed – whatever the context and challenges posed by our operating environment."
- David Ball, 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 2025-26
£389m
total income
68%
from social housing rent
25%
from sales of new homes
3%
from service charges
4%
from other
income
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
maintenance costs
Spent on service costs
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
£8.59
The aggregate amount of remuneration paid to Directors, relative to the size of the landlord
£54.09
Management costs, relative to the size of the landlord
£3,911
NB: Relative to size of landlord means number of homes (35,385 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.
