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Annual accounts


Annual accounts for The Wrekin Housing Group and Choices Housing Association.

Withywood

Summary 2019/2020

The Group made a deficit for the year of £41.910m. During the year the Group undertook a major refinancing exercise which involved the payment of £52.067m of breakage costs to cancel some of the fixed rate loans that had been in place for a number of years. The long term benefits of cancelling those fixed rate arrangements outweighed the initial cost as it helped the Group to:

  • Reduce its overall average cost of debt going forward and secure significant reductions in future interest costs
  • Increase the average life of the debt portfolio
  • Put in place new bank and bond finance with a spread of maturity dates, reducing future refinancing risk
  • Secure margins on the new finance that are in line with the current market
  • Put in place a suite of loan covenants that are also in line with the current market
  • Gain increased flexibility with regard to the valuation of its housing stock for security purposes, enabling it to make most efficient use of its property assets
  • Raise additional finance to fund the development plans in its 2020-2025 strategic plan

The underlying result for the year, before taking account of the above breakage costs was a surplus of £10.157m.

2019/2020

Wrekin Housing Group Limited 2019-2020 Financial Statements (including Value for Money) (PDF 3.10mb)

Choices Housing Association 2019-2020 Financial Statements (PDF 730kb)

2018/2019

Wrekin Housing Group Limited 2018-2019 Audited Financial Statements (PDF 2.2mb)

Choices Housing Association 2018-2019 Audited Finanical Statements (PDF 776kb)

2017/2018

The Wrekin Housing Group Ltd 2017-2018 (PDF24.7mb)

The Wrekin Housing Trust Ltd 2017-2018 (PDF 24.4mb)

2016/2017

The Wrekin Housing Group Limited 2016-2017 (PDF 20.9mb)

The Wrekin Housing Trust Limited 2016-2017 (PDF 21.5mb)

2015/2016

The Wrekin Housing Group 2015-2016 (PDF 19.8mb)

The Wrekin Housing Trust 2015-2016 (PDF 21.5mb)

2014/2015

The Wrekin Housing Group Accounts 2014-15 (PDF 18.2mb)

The Wrekin Housing Trust Accounts 2014-15 (PDF 19.8mb)