Chair's Statement
This has been a year of important regulatory and legal change for housing associations, driven by protecting residents and improving the services they receive from landlords. In the external environment we see increasing global instability and the ongoing impact of economic and political change.
The priority for the Board and I during the past year has been working with the Executive team and colleagues to ensure the organisation understands the requirements, potential impact and has appropriate responses in place to deliver the best possible outcomes for residents, communities and the partners we work with.
The focus throughout for the Board continues to be balancing the priorities of being a great landlord, providing good quality homes and playing our part in meeting housing need.
I am pleased to see that the organisation again delivered higher levels of investment as planned in existing homes, supported by an enhanced programme of stock condition surveys to underpin our knowledge of properties and the future investment needed. Good progress has been made in delivering the first year of works funded by the Social Housing Decarbonisation Fund, an important step towards ensuring all homes meet EPC C by 2030.
We also completed 212 new homes this year, all of which were affordable, across homes for social rent, affordable rent and shared ownership. Developments have included new homes in our Hertfordshire heartland, our first scheme in East Hertfordshire at Bishops Stortford and growth in wider geographies, particularly Central Bedfordshire. We remain committed to increasing the supply of affordable homes in the areas in which we work. We spent £59.9m on new homes this year, and continue to maintain a strong development pipeline, currently at over 900 homes. In my statement last year, I emphasised that the Board have made a firm commitment that no resident should live with the ongoing impact of damp or mould in their homes. The Board have supported the introduction of new resource, systems and processes to enable this. I am pleased to see the positive impact this is having and we will work with the Executive team and colleagues to ensure focus remains on this area to support residents for as long as needed.
Regeneration remains an important part of our commitment to improving the quality of existing homes. I am pleased to see the progress that has been made in Hitchin and Letchworth Garden City, and the focus on strong partnerships with local stakeholders as plans are taken forwards.
Sally Veitch, Chair
24th September 2024
“We remain committed to increasing the supply of affordable homes in the areas in which we work."
INVESTMENT IN HOMES
"I am pleased to see that the organisation again delivered higher levels of investment as planned in existing homes, supported by an enhanced programme of stock condition surveys to underpin our knowledge of properties and the future investment needed."
Our ability to invest in new and existing homes requires financial strength. This is shown during 2023/24 with a financial surplus of £20.4m and an operating margin of 24.6%.
There is no doubt that the external environment continues to present challenges for all businesses, including housing associations. Throughout the past year the settle Board has continued to ensure robust risk management and business planning processes are in place; that the organisation monitors the external environment closely, understands the impact this will have and responds appropriately. This has ensured settle remains a financially resilient organisation, able to progress the conscious decisions we have made to invest in new and existing homes.
This year marks the final year of settle’s plan from 2019-2024. Everyone involved can be proud of the achievements made during this time. As work has been carried out during the year to develop the new plan to 2030, I have been particularly pleased to see the strength of engagement underpinning this – with residents, colleagues and partners, and wider data from ongoing initiatives including early surveys against the Tenant Satisfaction Measures, feedback from the Voice of the Resident panel and through the Big Door Knock.
I have continued to enjoy taking part in the Big Door Knock during the year. Throughout all that we do, I am passionate that we put residents first. It has never been more important to make sure we understand what is important to residents and shape our work around this. I am so pleased to see that this runs throughout the 2030 plan.
I would like to thank fellow Board members for all their support during the past year. In particular, my thanks to Simon Oates who completed his term as a settle Board member in December 2023, and to Elizabeth Froude and Shamez Alibhai who complete their terms as Board Members this year. Elizabeth Froude having provided much-valued support as Chair of the Audit and Risk Committee of the Board during the past six years.
I am pleased to confirm recruitment is well underway for our new Board Members, and that during the year we will also appoint a resident as an independent member to the Operations Committee of the Board, further strengthening resident influence over all that we do.
I am confident that we continue to have a strong Board in place, bringing appropriate rigour and scrutiny across settle’s work.
I would like to close by thanking settle colleagues, partners and stakeholders. Throughout, I see great commitment and partnership working; this has delivered important outcomes for residents during the past year which everyone involved should be proud of, and I am confident that working together we will continue building on this during the year ahead.