CONTENTS
SECTION 1: ANNUAL REVIEW
SECTION 2: THE BOARD’S REPORT
SECTION 3: FINANCIAL STATEMENTS
Chair’s introduction Charles Alexander
This is my first annual review since I became Chair of the Board at VIVID in July 2021. It has been a real pleasure getting to know the people that make this the dynamic organisation it is. Naturally housing associations have a strong social purpose, but what is clear is the enthusiasm and determination from everyone at VIVID, as well as our partners, to do more and really make a difference in our communities. That drive is evidenced by the results VIVID achieves year on year. 8
2021-22 ANNUAL REVIEW AND FINANCIAL STATEMENTS
I joined the Board at a time when the sector was navigating some extraordinarily challenging forces. All when an increase in the supply of affordable, safe and secure homes is as urgent as ever. The impact of the coronavirus pandemic, and the recent sharp rise in the cost of living, have created a housing affordability crisis, causing serious financial difficulty for our residents. This is clear through the increased reliance on support measures such as food banks and benefits. The Trussell Trust’s report in May 2022 revealed the number of people using food banks nationally has increased by 81% compared to 5 years ago, and in just one year the supply of emergency food parcels to people in crisis has risen by 14%.
At VIVID we’ve seen the number of customers needing to claim Universal Credit jump from 4,000 at the start of the pandemic to over 9,000 more recently. This trend continues and is likely to worsen with the economic impact of the war in Ukraine, soaring energy prices, and high inflation rates.
Residents of housing associations are among members of the population most impacted by these trends. The sector has a big role to play in helping to fill the gap in affordable housing and to support the wellbeing of its customers and communities.
