Financial Performance

As a not-for-profit organisation, we reinvest every penny of our financial surpluses into two core priorities:

>> Building new affordable homes in rural communities
>> Improving existing properties and strengthening services for residents

This focused approach to reinvestment helps us stretch the value of public funding further and underpins our long-term sustainability, even in a demanding economic climate. By keeping this dual focus on both growth and improvement, we continue to meet the changing needs of rural communities, while making sure our financial strength is protected for the years ahead.

£1.4m

Annual Surplus

The headline surplus reported for the year was £1.4m, down from £1.8m in 2025. This reduction largely reflects lower contributions from first tranche shared ownership sales (£0.3m) and property disposals (£0.1m) during the year.

Even so, our operating surplus of £3.2m demonstrates continued underlying strength, with income from social housing lettings reinvested directly into homes and services for residents.

£2.4m

Cash Balances

Cash balances increased to £2.4m (2025: £1.2m), with £5.4m generated from operations during the year.

This healthy cash position reflects the careful management of our resources and ensures efficient financing of ongoing operational and development activity, while supporting a stepped-up pace of investment in new and existing homes.

£6m

Loan Facilities

Undrawn, fully secured loan facilities of £6m (2025: £23m) were in place at year end, reflecting the increased pace of development expenditure through the year.

In May 2026, we introduced a further £10m of capacity through a new ten-year term loan with Santander. Beyond this, we retain estimated security capacity of around £50m, providing a strong basis for future investment or refinancing.

With our viability rating upgraded and a new credit facility secured, our financial foundations have never been stronger. This resilience gives us the confidence to keep investing sustainably in new and existing homes for the rural communities that depend upon us.

Eddie Smy, Finance Director