On 26 September 2017 we held our Annual General Meeting at our office in Esher. At the meeting the financial statements for 2016/2017 were formally adopted and we also launched our 2017 Annual Report and Value for Money statement.
Our financial highlights for the year:
- Crown Simmons delivered an increased surplus of £477,253. This was £48,015 higher than that achieved in 2016. All surpluses are reinvested to improve services, maintain our housing stock and build new homes.
- We continue to operate well within our gearing (the ratio of debt to assets) and interest cover lending covenants.
- Focused financial management ensured that our operating margin for our social housing business improved to 25.42% and the headline social housing cost per unit reduced to £4219.93 (a reduction of 11.3% on the 2016 figure).
You can view our 2017 Value for Money Statement and financial statements on the Value for Money section of our website here: https://www.crownsimmons.org.uk/about-us/value-for-money/
Two longstanding members of the Board stood down at this year’s AGM. Stephen Cooper and Chris Clarke have given more than 17 years’ combined service between them and they were thanked for their respective contributions.
Stephen had also been Chair of our Audit & Risk Committee since Crown Simmons was formed in 2014 and now hands over the reins to Anil Majevadia.
Following a recruitment process that took place earlier this year, Ben Carlton Jones and Claire Virginie have been selected as new members of the Board and will formally join later in the year.
Read our 2017 Annual Report on our Publications page here: https://www.crownsimmons.org.uk/about-us/publications/