East Boro Housing Trust Annual Highlights 2024

East Boro Housing Trust

Annual Highlights

2024 PA R T O F

East Boro Housing Trust Annual Highlights 2023/2024 •

Rented homes in Management is 499, plus 14 shared ownership homes and 23 leasehold homes.

We have developed 24 new homes in the year

•

Housing for Older People 242 , Supported Housing 213, General Needs Housing 18, Leaseholders 23,

•

Carried out 41,500 hours of housing related support and individually funded care and support to vulnerable adults with learning/physical disabilities

•

In addition to the regular Sheltered Housing Officer (SHO) visits, our SHO team expanded communication to include telephone calls, text messages, and emails to meet the needs of individuals and in acknowledgement that some tenants/residents are not home during usual visit times. Over 25,000 Sheltered Housing Officer welfare checks were completed to Sheltered Housing Customers in their own homes throughout Dorset.

•

Number of formal complaints received in the year was 4. All were acknowledged within the required timescale and investigated in line with the Complaints Policy

•

Routine Response Repairs saw 92% of all repairs completed within the emergency/urgent/routine category timescales achieving the overall target of 92%

•

The Weymouth Community Hub at the Waverley has been busy with over 1,130 attendees attending 201 Art Group Sessions held during the year. The Café and Community Shop run by the local charity “The Nest” has also continued to provide affordable food to thousands of people in the local Weymouth Community.

Shared Ownership 14 and Affordable Rents 26. Total 536

Senior Management Team

Kevin Hodder Chief Executive

Karen Allan Director of Housing Services

East Boro Housing Trust Annual Highlights 2024

Board Members

Richard Teather Chairman

Kate Dukes

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Gerald Dukes Vice Chairman

Val Bagnall

Cara Lewis Support Services Manager & Executive Assistant to Chief Executive

Malcolm Baker Finance Chair

Tracey Peters

Jacki O’Shea

Ray Evans

David Doyle

This group shows the Management Team and Board as at 31st March 2024.

East Boro Annual Highlights as at 31st March 2024

41,500 hours

of combined daytime support, housing related support and individually funded care and support delivered to vulnerable adults and over 25,000 visits/checks to Sheltered Housing customers by East Boro staff

Total number of homes provided to general needs, supported, sheltered housing and leasehold

437 health &

safety inspections

111

& Estate Assessments were carried out

83%

Satisfaction with how quickly we resolved our customers

repairs

44 (up16) units Supported Housing

213 units

Housing for Older People

242 units Leasehold

23 units

Shared Ownership

14 (up 8) units

24

New homes developed

2023/24 All of which were built in Dorset

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

2

East Boro Housing Trust Annual Highlights 2024

536

General Needs Housing & Affordable Rents

Statement of Comprehensive Income for year ended 31 March 2024 2024

2023

Turnover

6,345

4,843

Operating expenditure before impairment

(5,748)

(4,505)

Operating profit

597

338

Loss on disposal of other property, plant and equipment

-

(2)

Profit before interest and taxation

597

336

Interest receivable and similar income

289

106

Interest payable and similar charges

(470)

(213)

Net finance expense

(181)

(107)

Profit before taxation

416

229

-

-

416

229

Tax on profit Profit / Surplus for the year

Statement of Changes in Reserves for year ended 31 March 2024 Profit & loss reserve £000

Merger reserve £000

Restricted reserve £000

Total reserves £000

12,386

462

30

12,878

Transfer from restricted reserve

25

-

(25)

-

Profit for the year

416

-

-

416

12,827

462

5

13,294

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

2024 Balance at 1 April 2023

Balance as of 31 March 2024

2023 Balance at 1 April 2022 East Boro Housing Trust Annual Highlights 2024

Profit for the year Balance at 31 March 2023

Where each £ comes from

Where each £ is spent Rent 38p

Staff Costs 23p

Service Charges 22p

Service Charge Costs 16p

Support & Care Contracts 14p

Repairs and Maintenance 10p

First Tranche Sales 22p

Interest 3p

Other 4p

Depreciation 9p Housing Management 14p Other 25p

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Statement of Financial Position as at 31 March 2024 2024

2023

42,673

37,195

749

321

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

-

-

43,422

37,516

1,031

899

891

865

3,806

8,799

5,728

10,563

(2,857)

(2,222)

2,871

8,341

46,293

45,857

(32,999)

(32,979)

13,294

12,878

Called up share capital

-

-

Profit and loss reserve

12,827

12,386

462

462

5

30

13,294

12,878

Current assets Debtors: amounts falling due within one year Properties held for sale Cash and cash equivalents

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

Merger reserve Restricted reserve Total capital and reserves

Value for Money Metrics 2023/2024 2022/23

2021/22

Efficiency Reinvestment %

12.5%

12.3%

8.2%

Gearing %

29.8%

21.8%

12.3%

Earnings Before Interest, Tax, Depreciation, Amortisation, Major Repairs Included (EBITDA MRI) Interest Cover %

110.0%

170.0%

308.1%

Operating Margin % (Social Housing Lettings Only)

11.4%

3.7%

3.8%

Operating Margin % (Overall)

9.4%

7.0%

10.1%

Return on Capital Employed (ROCE)

1.3%

0.7%

1.3%

New Supply Delivered % (Social Housing Units)

4.7%

3.9%

0.6%

New Supply Delivered % (Non-Social Housing Units)

0.0%

0.0%

0.0%

£8,388.06

£8,246.09

£8,088.18

Effectiveness

Economy Headline social housing cost per unit

EBHT continue to invest into properties £613,000 invested in current housing stock and £5.4 million as result of increase in development programme. Gearing increased 7.9% on prior year due to additional lending from Aster of £139,000 combined with reduction in cash holding of £5.0 million, used for development programme.

Significantly under gearing levels of group and sector. In good position. Slight increase in EBITDA of £50,000, offset by £227,000 increase in interest payments on previous year and dilute interest cover metric. Improved margin due to increase in rental/service charge income (£395,000) combined with reduction in management charges (£100,000) partially offset by increases in service and maintenance costs (£104,000). Improved operating margin driven by increased lettings income, partially offset by reduction of 1.1% in support & care margin combined with an increase in development costs which cannot be capitalised. ROCE has increased on prior year by 0.5% due to increase in operating surplus of £261,000 plus increase in net assets of £436,000 (increase in housing assets of £5.5 million ofset by reduction in cash of £5.0 million). Reflective of development programme in EBHT- 24 units at Buckland Newton, Windmills, Portland and Violet Farm, Corfe Mullen. No NonSocial Housing units 2023/24 Headline social housing cost per unit is consistent with prior year.

Expect this cost to be higher than sector threshold and those of Aster due to Supported Housing.

East Boro Housing Trust Annual Highlights 2024

2023/24

Comment

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Estate management

Letting our homes Highlights of 2023/24

Highlights of 2023/24

• 87 homes were let. 69 relet

• 437 Heath and Safety inspections

and 18 let for the first time

were carried out

• Rent lost due to empty properties 4.08% against a target of 3%.

• 111 Estate Management inspections were carried out

Average relet time (calendar days) Housing Type

Improving our homes

2023/24

2022/23

104

76

Sheltered Supported - room in shared house (HMO)

254

255

Supported - self contained

139

168

General Needs

123

67

Average weekly rents

No. of properties

£ Spent

Roof

8

56,389.98

Windows

7

130,274.30

Doors

1

1,254.00

Bathroom

11

96,437.79

Kitchen

5

40,146.00

Boilers

26

227,044.79

Heat system

2

17,601.60

Door entry system

1

2,203.20

1

1,193.33

Component

2023/24

2022/23

General Needs

£116.49

£108.16

Studio Sheltered

£87.34

£81.10

1 x bed Sheltered

£97.49

£90.52

2 x bed Sheltered

£115.95

£107.66

Communal furniture

Room in shared house (HMO)

£91.33

£84.80

Total spent on improving homes

572,544.99

All figures exclude service charges

Maintaining our homes

Highlights of 2023/24

East Boro Housing Trust Annual Highlights 2024

Highlights of 2023/24 • 2,030 Repairs completed

• 100%

• 111 Estate Assessments carried out • 437 Health & Safety Inspections carried out.

Routine repairs service

5

Building safety

Category

Target

2023/24

2022/23

2021/22

All

92%

92%

92%

85%

Emergency

95%

100%

99%

90%

Urgent

90%

78%

80%

82%

Routine

90%

95%

99%

86%

Gas servicing compliance

• 99.79%

Electrical testing

• 100%

Fire risk assessment

• 82.21%

Lift and lifting equipment annual servicing

• 100%

Lifts and lifting equipment inspection

• 100%

Asbestos management survey and re-inspection

• 100%

Water hygiene

Customer satisfaction survey results The satisfaction results are from questions sent to twenty of our customers. They were asked for their feedback on our services.

The methodology used to calculate the results is in line with TSM guidelines.

The Annual Customer Satisfaction Survey results are set out below. They show the percentage customers who indicated that they were very satisfied, satisfied, very happy or happy with the question asked.

Overall satisfaction with East Boro Housing Trust

80%

Satisfaction with repairs carried out

75%

Repair timing satisfaction

83%

Satisfaction that the home is well maintained

65%

Satisfaction that the home is safe

89%

Satisfaction that the landlord listens to tenant views and acts upon them

65%

Satisfaction that the landlord keeps tenants informed about things that matter to them

67%

Agreement that the landlord treats tenants fairly and with respect

76%

Satisfaction with the landlord’s approach to handling antisocial behaviour

56%

Satisfaction that the landlord keeps communal areas clean and well maintained

79%

Neighbourhood contribution satisfaction

79%

New developments East Boro’s Development team are delighted to have completed 24 new properties as shared ownership and affordable rent homes for local people in Dorset.

Buckland Newton, West Dorset x 4 homes: 2 x shared ownership, 2 x affordable rent Violet Farm, Corfe Mullen x 5 homes: all of which are affordable rent Windmills, Portland x 15 homes: 9 x affordable rent, 6 x shared ownership

BEFORE Pictured breaking ground at our Buckland Newton development, from the left: Susie & Mark Humphries, Directors, Sambec Property Dev. Ltd; Gerald Duke, EBHT Vice Chair; Kevin Hodder, EBHT Chief Executive; Nigel Reed, EBHT Locality Manager; Darren Robins, Director, D.R Jones of Yeovil.

East Boro Housing Trust Annual Highlights 2024

• • •

AFTER Outside a property from the completed housing development at our Buckland Newton development, from the left: Cllr. Jane Somper, Dorset Council; Gerald Duke, EBHT Vice Chair; Cllr. Jill Haynes, Dorset Council.

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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

2403019

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