E AS T B O R O PART OF
2023 Annual Highlights
East Boro Housing Trust Annual Highlights 2022/2023
• Homes in Management tipped the 500 mark for the first time in East Boro’s 63 year history, with 489 rented homes and 23 leasehold homes
• Developed 19 new homes in the year with 6 of the homes being the first Shared Ownership homes developed by EBHT
• Carried out over 41,000 hours of housing related support and individually funded care and support to vulnerable adults with learning/physical disabilities
• Carried out over 20,000 Sheltered Housing Officer visits to Sheltered Housing customers in their home
• Rent lost due to empty properties was 2.7% against a target of 3% .
• Number of formal complaints received in the year was 8. All were resolved in line with the Complaints Policy with 6 at stage one and 2 at stage two of the process
• Routine Response Repairs saw 92% of all repairs completed within the emergency/urgent/routine category timescales achieving the overall target of 92%
• 2,504 Routine Repairs were completed with a 96% positive customer satisfaction response rate from the 10% of customers randomly surveyed
• Over 900 Art Group slots attended by vulnerable adults at EBHT’s Waverley Community Hub in Weymouth.
Senior Management Team
Board Members
In September, both our Chairman and long serving Board Member, Eileen Hayward, and our Board Member Cyril Launch retired from the Board.
We would like to thank them most sincerely for their commitment and dedication to East Boro.
Chairman 2022/23
East Boro Housing Trust Annual Highlights 2023 1
Kevin Hodder Chief Executive
Karen Allan Director of Housing Services
Cara Lewis PA to Chief Executive
Eileen Hayward Board Chairman retired Sept 2022
Richard Teather Joined Board Aug 2022. Chairman from Sept 2022
Jacki O’Shea Vice Chairman to Sept 2022
Gerald Dukes Vice Chairman from Sept 2022
Cyril Launch retired Sept 2022
Kate Dukes Tracey Peters Malcolm Baker
Val Bagnall Ray Evans David Doyle
Mary Stepin Director of Care left Nov 2022
Kellie Salter Joined Aug 2022
East Boro Annual Highlights
as at 31st March 2023
Approximately
41,000 hours of combined daytime support, housing related support and individually funded care and support delivered to vulnerable adults and over 20,000 visits to Sheltered Housing customers by East Boro staff
512
Total number of homes provided to general needs, supported, sheltered housing and leasehold
615 health & safety and estate management inspections were carried out
100% Satisfaction with how easy our customers found it to report a repair
General Needs Housing 28 units
Supported Housing 213 units
Housing for Older People 242 units
Leasehold 23 units
Shared Ownership 6 units
New homes developed
2022/23
16 Dorset
3 Bournemouth, Christchurch & Poole
2 East Boro Housing Trust Annual Highlights 2023
All of our properties are located in either Bournemouth, Christchurch & Poole Council or Dorset Council covering Weymouth & Portland, West Dorset, North Dorset, Purbeck and East Dorset
Statement of Comprehensive Income for year ended 31 March 2023
Statement of Changes in Reserves for year ended 31 March 2023
East Boro Housing Trust Annual Highlights 2023 3
2023 Profit & loss reserve £000 Merger reserve £000 Restricted reserve £000 Total reserves £000 Balance at 1 April 2022 12,157 462 30 12,649 Profit for the year 229 - - 229 Balance as of 31 March 2023 12,386 462 30 12,878 2022 Profit & loss reserve £000 Merger reserve £000 Restricted reserve £000 Total reserves £000 Balance at 1 April 2021 11,822 462 68 12,352 Transfer from restricted reserve 38 - (38)Profit for the year 297 - - 297 Balance at 31 March 2022 12,157 462 30 12,649
2023 2022 £000 £000 Turnover 4,843 4,901 Operating expenditure before impairment (4,505) (4,396) Profit / (Loss) on disposal of housing property, plant and equipment - (10) Operating profit 338 495 Loss on disposal of other property, plant and equipment (2) (27) Profit before interest and taxation 336 468 Interest receivable and similar income 106 1 Interest payable and similar charges (213) (172) Net finance expense (107) (171) Profit before taxation 229 297 Tax on profit -Profit / Surplus for the year 229 297 Where each £ is spent Staff costs 37p Service Charge Costs 18p Repairs and Maintenance 12p Interest 2p Depreciation 11p Housing Management 18p Other 2p Rent 46p Service Charge 24p Support & Care Contracts 24p Other 6p Where each £ comes from
Position as at 31 March 2023
Value for Money Metrics 2022/2023
Reinvestment into properties grown 4.1% due to additions of £4.9 million to housing stock as result of increase in development programme. Gearing increased by 9.5% due to additional lending from Aster of £8 million to fund development programme. Still significantly under gearing levels of Group and sector as whole with EBHT in good position. Slight increase in EBITDA of £36k offset by £161k increase in interest payments, due to increased funding from Aster Group, reduced level of interest cover. Centralised costs included in Social Housing expenditure, explains low % consistent with prior year. Costs for support & care contract increased greater than income, combined with increase in development costs which cannot be capitalised driving drop in margin. ROCE has reduced by 0.5% primarily due to increase in net assets of £9.4 million (increase in housing assets £4.7 million and cash £3.4 million and Shared Ownership current assets £0.8 million).
Reflective of development programme in EBHT, 16 units handing over at Curtis Fields, Weymouth (Phase 1 and 2) combined with 3 units in Poole and West Moors.
No non-Social Housing units delivered in 2022/23. Headline Social Housing cost per unit consistent with prior year. We expect this cost to be higher than sector threshold and those of Aster due to Supported Housing.
East Boro Housing Trust Annual Highlights 2023 4 2022/23 2021/22 2020/21 Efficiency Reinvestment % 12.3% 8.2% 8.6% Gearing % 21.8% 12.3% 16.8% Earnings Before Interest, Tax, Depreciation, Amortisation, Major Repairs Included (EBITDA MRI) Interest Cover % 170.0% 308.1% 211.7% Operating Margin % (Social Housing Lettings Only) 3.7% 3.8% 1.5% Operating Margin % (Overall) 7.0% 10.1% 9.8% Return on Capital Employed (ROCE) 0.7% 1.3% 1.7% Effectiveness New Supply Delivered % (Social Housing Units) 3.9% 0.6% 1.5% New Supply Delivered % (Non-Social Housing Units) 0.0% 0.0% 0.0% Economy Headline social housing cost per unit £8,146.48 £8,088.18 £9,668.67 Statement
Financial
2023 2022 £000 £000 Fixed assets Property, plant and equipment (social housing) 37,195 32,541 Property, plant and equipment (other assets) 321 360 Investments in subsidiaries -37,516 32,901 Current assets Inventories - 4 Debtors: amounts falling due within one year 899 485 Properties held for sale 865 42 Cash and cash equivalents 8,799 5,434 10,563 5,965 Creditors: amounts falling due within one year (2,222) (2,383) Net current assets 8,341 3,582 Total assets less current liabilities 45,857 36,483 Non current liabilities Creditors: amounts falling due after more than one year (32,979) (23,834) Net assets 12,878 12,649 Capital and reserves Called up share capital -Profit and loss reserve 12,386 12,157 Merger reserve 462 462 Restricted reserve 30 30 Total capital and reserves 12,878 12,649
of
Comments
Letting our Homes
Highlights of 2022/23
• 31 properties let. 2 new homes were first let, and 29 existing homes were re-let.
• 100% customer satisfaction with our lettings service
• Rent lost due to empty properties 2.70% against a target of 3%.
Estate Management
Highlights of 2022/23
• 530 Heath and Safety inspections were carried out
• 85 Estate Management inspections were carried out
• 60% customer satisfaction that we keep our communal areas safe and well maintained
• 85% customer satisfa ction that their home is safe.
All figures exclude service charges
Maintaining our Homes
Highlights of 2022/23
• 2,504 Repairs completed
• 96% Overall satisfaction with repairs service against a target of 75%. As opposed to 91% in 21/22
• Average time to complete repairs: 17 days
Routine repairs service
Building Safety
Highlights from 2022/23
• 99.63% Gas servicing compliance
• 98.89% Electrical compliance
• 100% Fire risk assessment
• 100% Lift and lifting equipment annual servicing
• 96.97% Lifts and lifting equipment inspection
• 100% Asbestos management survey and reinspection.
5 Improving our homes Component No. of properties £ Spent Windows 12 14,238.94 Electric heating 3 12,719.31 Kitchens 3 20,836.11 Appliance replacements 4 2,146.00 Roof replacements 12 129,228.94 Door replacements 13 12,306.77 Wall insulation 2 7,255.80 Electric meter replacements 2 7,219.20 Carpet replacement 1 4,182.00 Intercom system 8 2,203.20 Fire alarm system 1 12,912.00 Total 61 225,248.27 Average relet time (calendar days) Housing Type 2022/23 2021/22 Sheltered 76 49 Supported - room in shared house (HMO) 255 124 Supported - self contained 168 81 General Needs 67 49 Average weekly rents 2022/23 2021/22 General Needs £108.16 £107.68 Studio Sheltered £81.10 £79.75 1 x bed Sheltered £90.52 £89.34 2 x bed Sheltered £107.66 £106.44 Room in shared houseHMO £84.80 £84.09
Category Target 2022/23 2021/22 2020/21 All 92% 92% 85% 91% Emergency 95% 99% 90% 95% Urgent 90% 80% 82% 97% Routine 90% 99% 86% 88% East Boro Housing Trust Annual Highlights 2023
Customer Satisfaction Survey Results
The number of responses received for the 2023 survey was much lower than in previous years. This year’s response represented 16% of EBHT customers. We clearly wish to obtain a far higher response and will be applying different options to enable the response process to be far easier for our customers in the future.
Our Annual Customer Satisfaction Surveys are extremely important to us and a higher percentage response will provide us with the information that we need to ensure that we tailor our services to meet our customers’ expectations.
The methodology used to calculate the results is now in line with the new TSM guidelines. The Annual Customer Satisfaction Survey results are set out below:
New Developments
• 16 homes completed at Curtis Fields in Weymouth. All homes for General Needs families
• 10 homes at Curtis Fields were affordable rent and 6 homes were East Boro’s first Shared Ownership properties
• 3 NHS specialist supported housing bungalows completed in the Bournemouth, Christchurch & Poole Council area.
East Boro Housing Trust Annual Highlights 2023 6 Questions % satisfied,
satisfied, happy and
happy Overall satisfaction 71 Satisfaction with repairs carried out 78 Satisfaction that the home is well maintained 70 Satisfaction that the home is safe 85 Satisfaction that the landlord listens to tenant views and acts upon them 63 Satisfaction that the landlord keeps tenants informed about things that matter to them 60 Agreement that the landlord treats tenants fairly and with respect 71 Satisfaction with the landlord’s approach to handling complaints 42 Satisfaction that the landlord keeps communal areas clean and well maintained 60
very
very
East Boro Head Office: Faulkner House, 31 West Street, Wimborne, Dorset BH21 1JS
Tel: 01202 883 503 Email: info@ebht.org.uk
Weymouth Office: No. 2, The Waverley, 121 Abbotsbury Road, Weymouth DT4 0JX Tel: 01305 750 403 Email: info@ebht.org.uk
PART OF
East Boro Housing Trust is a Charitable Registered Society under the Co operative and Community Benefits Societies Act 2014 No. 16946R Registered Provider with the Regulator of Social Housing No. L0519