Annual Report 1 April 2017-31 March 2018 Aberdeen Soroptimist Housing Society Limited Registered address:- 22 Abercrombie Court Arnhall Business Park Westhill Aberdeenshire AB32 6FE Telephone 01224 548000 Registered Charity Number SC000171
CONTENTS 1. Chairman s Report Pg 2-3 2. Treasurer s Report Pg 4 3. Board of Directors and Stakeholders Pg 5-6 Front page top photo shows Mile End House, Mary Esselmont House Front page bottom photo shows the old coach house conversion Photographer: Unknown 1 P a g e
Chairman s Report 2017/18 On behalf of the Board of Directors I am pleased to present the annual report for 2017/18 after what has been another active year for the Society. In this report I highlight what the Society has achieved; make reference to some notable outcomes, as well as referring to some other matters we hope to address in the coming year. However, I would like to start by recording my appreciation to the Board of Directors for their hard work, commitment and support over the past year. The level and complexity of work associated with being a Registered Social Landlord of even our small size continues to increase and become even more intensive so I m delighted to say the Board has also continued to respond positively and with great energy and commitment to those demands. A number of important activities were started and/or undertaken during 2017/18. In particular during October 2017 we were grateful to receive support and help from Santander through Aberdeen City Council from their community volunteering scheme to get improvements made to the open space and landscaped areas within Beechgrove. A first phase of tidying up and planting was undertaken and we hope to receive further support to help improve the harder landscaping during 2018/19. The Board of Directors established a working group last year to develop a strategy for meeting the Government s Energy Efficiency in Scottish Social Housing (EESSH) standard and a programme of work has been agreed for Mile End House which was started June 2018. During 2017 a major reconfiguration of the refuse disposal arrangements provided at Beechgrove with provision of new style communal bins and improved access arrangements. Service delivery to tenants during 2017/18 has been subject to the scrutiny and monitoring necessary to ensure the high level of performance required of our Managing Agent Osprey Housing is being met. I am once again pleased to report an overall healthy set of results against most of the Society s Key Performance Indicators. Performance is reviewed in detail at each Board meeting and below I highlight some of the key results from 2016/17: - Rent collection has exceeded the target and total gross rent arrears are less than 1%, with current tenant arrears at only 0.21% at the end of the year. This is exceptionally low when compared across the Scottish Average. These remain excellent results for the Society. - There have been no voids during the year and therefore no rent loss due to empty properties. - Average time taken to complete emergency repairs was 3 hours which is remains very good and well below the Scottish average. The average time taken to complete non-emergency repairs was just under 9 days again within the Scottish Average. Our engagement level with the Scottish Housing Regulator remains Low. This engagement level means the Regulator has no requirement for intervention at all and represents recognition of the good quality services we provide to tenants, our well managed financial position and effective governance structure. I am pleased that we continue to secure this level of engagement and I am sure that it will continue to give reassurance to our tenants and other stakeholders. 2 P a g e
While the accompanying Treasurer s Report provides more detail I am pleased to say that our cash balances at 31st March stood at 164,405 an increase over the previous year. It has been another good year for the Society and the position at the year end is ahead of expectations We do remain vigilant about the Society s financial position and work hard to ensure that we achieve value for money for our tenants. I am also pleased to say the Board remains very happy with the continuing services we secure from Osprey Housing. The services Osprey provide to our tenants are highly regarded and their support, guidance and advice to the Board remains of a high standard. I also want to thank our tenants for their support and cooperation in helping us ensure the Society continues to be successful in meeting our aims and objectives. We value our tenants as they are our reason for being. The Board is looking forward to continuing to provide homes and services that meet the needs of all our tenants and those we are seeking to help in the future. Thank you. Alison Mitchell Chairman 3 P a g e
Treasurer s Report The Society has had another successful financial year with an operating surplus for the period of 12,919. After the decrease in our investment revaluation reserve of 1,437 is deducted we can report a net increase in reserves of 11,482. With no voids during the year our annual rent and service charge income rose by 3,340 to 59,816. Operating expenditure decreased to 44,993, due primarily to a reduction in repair & maintenance charges. As a result of the current economic climate the funds in our bank accounts receive low rates of interest and our investments reduced in value. As at 31 st March 2018, our investment revaluation reserve stood at 9,126 a reduction during the financial period of 1,437. Reserves are built up in order to fund future requirements, in particular major refurbishment & component renewals. As can be seen from the balance sheet total capital and reserves at the year-end stood at 300,862. Utilising our 30-year Stock Condition Report we are able to identify periods when funds will be required and our financial planning is tailored accordingly. In order that the Beechgove complex complies with the Scottish Governments Energy Efficiency Standards for Social Housing (EESSH) our Managing Agent Osprey Housing surveyed the energy efficiency of all homes and we are pleased to report that with the exception of those in Mile End House our properties are fully compliant with EESSH requirements. As advised by the Chairman a programme of work, to ensure compliance has received Board approval and will be funded from our reserves. I would like to thank the financial staff at Osprey Housing for their stewardship of our accounts and our auditors, Anderson, Anderson and Brown for their continued professional support. David Hekelaar Honorary Treasurer 4 P a g e
ABERDEEN SOROPTIMIST HOUSING SOCIETY LIMITED BOARD OF DIRECTORS COMPANY SECRETARY A Mitchell (Chairman) Colin Hawkins Up to 24/07/2017 M McFadyen (Vice-Chairman) Glenn Adcook From 24/07/2017 D Hekelaar (Treasurer) H Smith I Walker A Silver S Kinsey L Montgomery From 24/07/2017 AUDITORS Anderson Anderson & Brown LLP Kingshill View Prime Four Business Park Aberdeen AB15 8PU BANKERS The Royal Bank of Scotland plc Queens Cross Branch 40 Albyn Place ABERDEEN AB10 1YN 5 P a g e
SOLICITORS Ledingham Chalmers Johnstone House 52-54 Rose Street ABERDEEN AB10 1UD REGISTERED OFFICE 22 Abercrombie Court Arnhall Business Park Prospect Road Westhill Aberdeenshire AB32 6FE REGISTRATION NUMBERS Company number 2127R(S) Scottish Charity Register number SCO00171 MANAGING AGENT Osprey Housing 22 Abercrombie Court Arnhall Business Park Westhill Aberdeenshire AB32 6FE 6 P a g e