Where the money comes from
Year Ending March 2025
| £ | % | |
|---|---|---|
| Rents | 32,166,024 | 87% |
| Service charges | 954,395 | 3% |
| Income from other places | 3,662,049 | 10% |
| Total | 36,782,468 |
How much income we received
Year Ending March 2025
| How much income we got | 36,782,468 |
| Profit from tenants purchasing their properties | 174,820 |
| Day to day running costs and how much we had to spend | (26,237,792) |
| The amount of money that came in called operating profit | 10,719,496 |
| The profit we made as a % of income | 29.14% |
| Interest & tax costs | (3,907,624) |
| Other gains - pension | 254,000 |
| Profit for the year after tax | 7,065,872 |
|---|
Remember we are a profit-for-purpose organisation. Any surplus made is reinvested into our homes.
How we spent your rent
Year Ending March 2025
| £ | % | |
|---|---|---|
| Business operating costs (e.g. offices, Board, our staff including Exec, IT) | 6,557,392 | 25% |
| Maintenance | 9,422,494 | 36% |
| Service charge costs | 1,517,539 | 6% |
| Costs of running other parts of the business | 1,121,368 | 4% |
| The amount our properties reduced in value | 6,539,888 | 25% |
| Shared ownership | 1,079,111 | 4% |
| Total | 26,237,792 |
- Management costs – £6,557,392
- The remuneration payable to the CEO – £165,310
- The aggregate amount of remuneration paid to the Trusts executive team and our Board – £601,068
Capital costs - or fixed, one-time expenses
- £11.21M on improving our homes (e.g. kitchens, bathrooms and roofs)
- £17.33M on building new homes