This year we completed 313 new homes, spent £18m in total on building safety and improving and maintaining existing homes and achieved an operating margin (surplus) of 24% on our rental income.
Surpluses are reinvested in improving our existing homes and services and building more affordable homes. In 2020/21 we successfully grew our loan facilities to £465m, with £68m of this available at year end for investment in new homes, along with £18m of cash, which means we are in a strong, secure, financial position for the coming 12 months.
We are well positioned to protect the organisation against any shocks in the financial markets.
How we spend your rent and service charges
If you're interested in finding out much more detail on our finances you can Read the full signed accounts here.