East Boro Annual Highlights 2023

EAST BORO

Annual Highlights PA R T O F

2023

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.

Chairman 2022/23

Senior Management Team

Kevin Hodder Chief Executive

Karen Allan Director of Housing Services

Mary Stepin Director of Care left Nov 2022

Cara Lewis PA to Chief Executive

Eileen Hayward Board Chairman retired Sept 2022

Richard Teather Joined Board Aug 2022. Chairman from Sept 2022

Cyril Launch retired Sept 2022

Kate Dukes

Tracey Peters

Malcolm Baker

Kellie Salter Joined Aug 2022

Val Bagnall

Ray Evans

David Doyle

East Boro Housing Trust Annual Highlights 2023

Board Members

Jacki O’Shea Vice Chairman to Sept 2022

Gerald Dukes Vice Chairman from Sept 2022

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.

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East Boro Annual Highlights as at 31st March 2023

41,000 Approximately

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

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

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

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

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East Boro Housing Trust Annual Highlights 2023

512

General Needs Housing

Statement of Comprehensive Income for year ended 31 March 2023 2023

2022

£000

£000

Turnover

4,843

4,901

Operating expenditure before impairment

(4,505)

(4,396)

-

(10)

Operating profit

338

495

Loss on disposal of other property, plant and equipment

(2)

(27)

Profit before interest and taxation

336

468

Profit / (Loss) on disposal of housing property, plant and equipment

Interest receivable and similar income

106

1

Interest payable and similar charges

(213)

(172)

Net finance expense

(107)

(171)

Profit before taxation

229

297

-

-

229

297

Tax on profit Profit / Surplus for the year

Statement of Changes in Reserves for year ended 31 March 2023 Profit & loss reserve £000

Merger reserve £000

Restricted reserve £000

Total reserves £000

12,157

462

30

12,649

229

-

-

229

12,386

462

30

12,878

Profit & loss reserve £000

Merger reserve £000

Restricted reserve £000

Total reserves £000

11,822

462

68

12,352

Transfer from restricted reserve

38

-

(38)

-

Profit for the year

297

-

-

297

12,157

462

30

12,649

2023 Balance at 1 April 2022 Profit for the year Balance as of 31 March 2023 2022 Balance at 1 April 2021

East Boro Housing Trust Annual Highlights 2023

Balance at 31 March 2022

Where each £ is spent

Where each £ comes from Rent 46p

Staff costs 37p

Service Charge 24p

Service Charge Costs 18p

Support & Care Contracts 24p

Repairs and Maintenance 12p

Other 6p

Interest 2p Depreciation 11p Housing Management 18p Other 2p

3

Statement of Financial Position as at 31 March 2023 2023

2022

£000

£000

37,195

32,541

321

360

Fixed assets Property, plant and equipment (social housing) Property, plant and equipment (other assets)

-

-

37,516

32,901

-

4

Debtors: amounts falling due within one year

899

485

Properties held for sale

865

42

Investments in subsidiaries

Current assets Inventories

8,799

5,434

10,563

5,965

(2,222)

(2,383)

Net current assets

8,341

3,582

Total assets less current liabilities

45,857

36,483

(32,979)

(23,834)

12,878

12,649

Called up share capital

-

-

Profit and loss reserve

12,386

12,157

Merger reserve

462

462

Restricted reserve

30

30

12,878

12,649

Cash and cash equivalents

Creditors: amounts falling due within one year

Non current liabilities Creditors: amounts falling due after more than one year Net assets Capital and reserves

Value for Money Metrics 2022/2023 2022/23

2021/22

2020/21

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%

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%

£8,146.48

£8,088.18

£9,668.67

Efficiency

Effectiveness

Economy Headline social housing cost per unit

Comments 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

Total capital and reserves

4

Estate Management

Letting our Homes Highlights of 2022/23

Highlights of 2022/23

• 31 properties let. 2 new homes were first let, and 29 existing homes were re-let.

• 530 Heath and Safety inspections

• 100% customer satisfaction with our

• 85 Estate Management inspections

• Rent lost due to empty properties 2.70%

• 60% customer satisfaction that we keep

lettings service

were carried out

against a target of 3%.

is safe.

2022/23

2021/22

Sheltered

76

49

Improving our homes

Supported - room in shared house (HMO)

255

124

Component

Supported - self contained

168

81

General Needs

67

49

Average weekly rents

£ Spent

Windows

12

14,238.94

Electric heating

3

12,719.31

Kitchens

3

20,836.11

2021/22

Appliance replacements

4

2,146.00

General Needs

£108.16

£107.68

Roof replacements

12

129,228.94

Studio Sheltered

£81.10

£79.75

Door replacements

13

12,306.77

1 x bed Sheltered

£90.52

£89.34

Wall insulation

2

7,255.80

2 x bed Sheltered

£107.66

£106.44

2

7,219.20

Room in shared house HMO

Electric meter replacements

£84.80

£84.09

Carpet replacement

1

4,182.00

Intercom system

8

2,203.20

Fire alarm system

1

12,912.00

Total

61

225,248.27

Maintaining our Homes Highlights of 2022/23 East Boro Housing Trust Annual Highlights 2023

No. of properties

2022/23

All figures exclude service charges

Building Safety

• 2,504 Repairs completed • 96% Overall satisfaction with repairs

Highlights from 2022/23

service against a target of 75%.

As opposed to 91% in 21/22

• 99.63% Gas servicing compliance

• Average time to complete repairs: 17 days

• 98.89% Electrical compliance • 100% Fire risk assessment

Routine repairs service

5

our communal areas safe and well maintained

• 85% customer satisfaction that their home

Average relet time (calendar days) Housing Type

were carried out

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%

• 100% Lift and lifting equipment annual servicing

• 96.97% Lifts and lifting equipment inspection

• 100% Asbestos management survey and reinspection.

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:

% satisfied,

very satisfied, happy and very 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

East Boro Housing Trust Annual Highlights 2023

Questions

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.

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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

PA R T O F 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