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2024-03-31-annual-report

Annual Report 2023-24

Improving lives and communities through our homes, care and support

A Welcome Message - from the Chair of the Board and the Chief Executive

To further cement this vital support, we recently launched the Radius Foundation to help promote economic, social and environmental wellbeing across all our communities.

challenge of skilled labour shortages has similarly impacted on our performance and the capacity of our contracting partners; despite the best efforts of all our people, added investment in new systems and modern work practices

At Radius we aim to improve lives and communities through our housing, care and support. Our commitment to safety, security and sustainability underpins our service offering. Every day our people, through engagement, dedication and creativity, aim to empower tenants and communities within a shared vision.

TENANT ENGAGEMENT

At Radius we are keen to understand the needs of our tenants. Our tenant engagement programme is shaping and enhancing core services with service users helping to design and specify targets for contractors.

For many of our tenants the widening gap between household income and the day-today cost of food, fuel and energy forced many to have to choose to ‘eat or heat.’

As a housing provider and social enterprise, we aim to deliver and maintain quality homes and to support our tenants and residents in sustaining their tenancies.

Having been the first local association to submit to the Supporting Communities Tenant Participation Accreditation in 2021/22 and securing the Silver Award, we are delighted after re-accreditation in June 2024 to be the first Housing Association in Northern Ireland to achieve the Gold Award.

Our homes serve as enablers for better health, enhanced education and employment prospects and ultimately greater life-fulfilment and dignity for all.

Our staff and business partners are working together to deliver the best possible value and outcomes for all our customers in these challenging times.

OUR CORE FOCUS - TENANT FIRST

ECONOMIC CHALLENGES

The economic challenges of the last year have had a marked impact on the communities we serve, our supply chains and our business. The need to support our customers and build resilience across our neighbourhoods remains our prime focus. This year we increased the level of investment in our homes and systems, we modernised our repairs service and continued to expand our community investment offering.

This is the third year in our current corporate planning cycle, 2022/23 to 2026/27. We are implementing key changes with respect to our core housing management and compliance IT systems.

We continue to bed-in our customer contact centre along with new contracting partners providing our repairs service.

Without our continual intervention, many tenancies would undoubtedly have failed.

While we welcome the return of the NI Assembly, we acknowledge that the underlying budget constraints and the forecast reductions in capital and revenue spending will determine whether Radius can deliver on its objectives for 2024/25. Amidst the political and economic uncertainty our customers experienced acute financial hardship in the form of spiralling food, energy and fuel costs on the back of unprecedented increases in inflation and interest rates. From a business perspective we faced rising costs in materials and bought-in services in almost every aspect of our operations. The global

Martin Pitt, Chairperson

Our business theme for 2024/25 is ‘Tenant First’ ensuring we keep customer interest front and centre of all our efforts and actions.

Over the past 12-months, customers were shielded from over £1.6m of service charges while over £3m of value-added services and efficiencies helped sustain tenancies and whole communities. Our Community Investment Team organised no less than 190 workshops and events with over 10,000 attendees, helping to build resilience across our neighbourhoods.

PEOPLE & CULTURE

We continue to modernise and evolve our business while improving processes and reducing waste. Our hybrid working practices are now well established and we look forward to rolling out the next stages of our People and John McLean OBE, Chief Executive Culture Strategy.

Providing the best possible services, with our partners, for the benefit of our customers.

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Key Performance Indicators

Operational Highlights

Supporting Customers

Providing the best possible services, with our partners,

• Supporting older people - to maintain independence, dignity and quality of life.

Taking customer service to the next level - harnessing new technology.

Powerful CRM functionality providing a 360⁰ view of customers enabling us to track and manage tenant interactions more efficiently in real time.

Powerful CRM functionality will provide a 360⁰ view of customers enabling us to track and manage tenant interactions more efficiently in real time. This will take us a step closer on our digital journey and goal of empowering our people, regardless of whether they are office based or working in a customer’s home, to deliver a high-quality and responsive service.

In recent years we set about transforming our customer service with the creation of a centralised Customer Service Centre dedicated to addressing tenant queries and issues, promptly and effectively.

Our ability to grow and see this service come to fruition was hampered during the early years by recruitment challenges and end-of-life housing management technology.

We will offer a new self-service communication channel via an App or web-based device providing up-to-date information on rent accounts, tenancy related information and progress on repair requests for those customers who prefer to be digitally engaged. Working closely with our Tenant Engagement Panels on the design of this feature will be a hugely important factor in successful implementation and forms a key part of the overall road map for delivery of the project.

In 2023/24 we made significant strides in driving forward positive recruitment campaigns and have achieved a full complement of Customer Service Advisors who are now achieving a service level target of 94% and above.

Our approach to customer service is not just about meeting expectations, but creating memorable experiences. To drive forward this objective we embarked on the procurement of a

We look forward to the launch of NEC Housing in the Spring of 2025 and seeing the positive impact on the overall customer experience at Radius.

new housing management system and customer service portal to provide modern and future proofed technology offering a 360⁰ view of the customer and access to real time information.

We are delighted to be implementing the new NEC Housing Management System to support tenancy management and property maintenance of customer ’ homes.

Responding to tenant enquiries

Supporting older people - to maintain independence, dignity and quality of life.

Age Friendly Strategy delivering sustainable services that support health and wellbeing, financial security and engagement in local communities.

Having introduced sheltered housing to Northern Ireland, Radius has become the largest provider of independent living for 4,100 households of tenants of 55 years and over.

aged 55+, actively shaping our services through regular communication and engagement. In addition, Radius awarded an average of £14k grant funding during the year for tenant-led projects in independent living schemes.

The breadth of our services along with demographic projections indicate the Northern Ireland population will age at a faster rate than the rest of the UK, prompting us to develop a new strategic approach to ensure our services will continue to be sustainable and relevant in the long term.

Quality of life for older people is enhanced through financial wellbeing. We seek to maximise their income through the work of our designated Welfare Advice Team and have recovered an average of £672k+ per annum for tenants each year. For many people this affords them the opportunity to engage in a more dignified life as well as ensuring they are better able to eat well, heat their homes and maintain their independence.

Our Age Friendly Strategy outlines the current strategic context and the specific commitments and targets we aim to meet. The strategy is underpinned by a change to how operational services are delivered with the recent implementation of a new staffing structure creating a separation between the management of older people’s housing from general family housing. Taking this approach has enabled us to increase our focus on the older people services we provide and devote more time and attention to creating environments where people can thrive, feel secure and actively participate in their community.

‘Recent research by Age NI, has shown that 1 in 3 older people in Northern Ireland said that they sometimes or always experience loneliness’.

Tackling social isolation is a key theme of the strategy and we aim to build on what we do already. Radius currently provides Day Care Services to tackle social isolation for older people. Our Connect 24 service carried out 183,237 automated well-being calls in 2023/24 to check on the wellbeing of our people. We also encourage tenants to get involved in how their services are managed and have success with 74% of our interested tenants

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Tenant Conference
Highlights
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Build and maintain safe and sustainable homes in thriving communities.

Making connections - through housing, leisure and community.

A unique collaboration delivering new social homes, extension and refurbishment of a multi-use community facility and investment of more than £20million in the Creggan area.

As a social housing developer, we regularly face challenges finding suitable, viable sites for substantive high quality housing projects. We also aspire to deliver new housing developments which successfully integrate with the surrounding area and offer positive economic and social impacts, both in the short and long term.

Radius collaborated with Sean Dolan’s to deliver new housing and create new facilities for the club and the wider community, as well as improving the built environment by utilising waste derelict land. Working closely with Sean Dolan’s and other partners, we ensured that the community was fully appraised of the proposal, had the opportunity to engage and any solution was reflective of the community’s needs and ambitions.

Finding this perfect blend can be a challenge but when opportunity knocks, we aim to be ready to bring our knowledge and expertise to the table often working with others to bring this aspiration to reality.

The result of this collaboration was the development of 119 new social homes, extension and refurbishment of the existing club house and provision of a new multi-use community facility and investment of more than £20million in the Creggan area. All of which was achieved with the Department of Communities providing £10.7m, £9.9m investment from Radius for the new homes, and Derry City & Strabane District Council reinvesting £600,000 for the sports facilities.

The Creggan area of Derry/ Londonderry has significant social housing need, but like many urban areas has a lack of suitable land for development of new affordable homes. The area is a close-knit community and the local GAA Club, Sean Dolan’s, is a hub for many families not just for sport and wellbeing but also to connect and meet neighbours and friends.

In March 2023, the first phase of new homes was completed alongside the new club house and sports facilities. The occasion was marked by the First Minister Elect, Michelle O’Neill MLA, the Mayor of Derry City & Strabane, Cllr Patricia Logue and President of the Ulster Council, Ciarán McLaughlin.

For Sean Dolan’s the cost and means of expanding and upgrading their facilities was beyond them as an amateur sports organisation. The need for the facility however, remained strong, as it would allow them to hold events and training throughout the year and help achieve ambitions to expand their club providing more opportunities for young people.

This project has delivered a high quality, integrated community project. The new facilities include, an extension of the clubhouse pavilion, a new indoor arena with 3G sports surface, not just for GAA but also other sports such as rugby and football. A multi-purpose room, training space, gym room and meeting rooms, as well as space for dance classes and social events not just for the club but also for the wider community to use.

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COMPLETED

119 new energy efficient homes

Video outlining the Creevagh Heights Development

Investing in care - supporting our most vulnerable.

Scheme refurbishments, excellent staff and care provision, offering modern state-of-the-art facilities for existing and new residents.

At Radius, a rolling 5-year plan to renovate our portfolio of care homes is under constant review.

We have 25 care homes across Northern Ireland and there is a regular need to update and refurbish them to ensure residents can continue to receive the quality care they deserve.

We use specialist building contractors to renovate and transform our care homes into modern facilities, and these refurbishments, alongside excellent staff and care provision, help to future proof the service for existing residents and offer an attractive care and support proposition for new residents.

Glenalina Lodge

The latest of these major renovations to be completed was Millbrook Court in North Down where we invested £2 million.

The most significant improvements were to the individual living spaces, which now have ensuite facilities and full refurbishments including wall coverings, carpets and vinyl floorings as well as a total overhaul and replacement of the communal heating, all to provide unsurpassed levels of extra comfort and security:

Ensuites and communal bathrooms

As our Care & Support investments continue, we are underway with a transformative refurbishment at Glenalina Lodge in Belfast, investing £4 million including comprehensive and full electrical rewire, replacement of all plumbing pipework, fire protection works and fire alarm system overhaul.

Communal heating replacement

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Millbrook Court
Refurbishment
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Rising to the challenge - investing in existing homes.

Supporting tenants to eradicate condensation, damp and mould in their homes.

Dealing with the problem as quickly as possible alongside providing customers with support and advice on how to spot and prevent damp and mould in their home is at the heart of our approach. Actions taken to date include:

We recognise that condensation, damp and mould can adversely impact healthy living and the wellbeing of our tenants.

Rising damp, penetrating damp and condensation are common types of damp affecting a home and many of us may experience damp in our homes at some point.

In 2021 Radius launched its first Damp Strategy, targeting older houses and more recently constructed schemes where design or construction flaws had all too early contributed to the onset of dampness, mould and excessive levels of condensation. Since the launch of the strategy, 46 homes have been repaired and modernised at a cost of £2.4m.

We are progressing two major refurbishment schemes at St Johns Close, Belfast and Liscorran, Lurgan, with over £7m of works which will lift EPC-Levels well above the C threshold and help eradicate damp.

In recent years we have noted rising numbers of customers reporting severe condensation which we believe relates mainly to fuel poverty. As a result we revisited our Damp Strategy to widen its scope and set a revised action plan for delivery in 2023-2024.

2 MAJOR REFURBISHMENTS PLANNED

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Lifting EPC-Levels well above the C threshold

Visit our website to find out more

Building communities - through diversity in art.

Creating opportunities for individuals to come together, express themselves, and engage with art.

We see the arts as an essential way for creating healthy, vibrant and safe communities. The Arts act as a ‘common language’ a way to communicate and connect with others even if we have different social, cultural or economic backgrounds.

Strong relationships were developed between neighbours from a diverse range of cultures with people continuing to support each other outside the weekly sessions and well after the project ended. The program contributed to restorative practices where there had previously been conflict, tension and a breakdown in relationships. It provided a platform to build on and improve understanding, to reach resolution in solving problems and created a sense of safety and community cohesion. New Lifelong Skills were learnt through the medium of art, including groupwork skills, paper flower making, creative writing, poetry and graphic design.

A four-year tenant-led Diversity in Art Project delivered in partnership with Radius as part of our ‘Housing for All’ Shared Housing Programme illustrates how bringing individuals and groups together from a range of cultures and backgrounds, while providing a safe space with a common goal, can create a more healthy, happy and cohesive community.

Tenants from the Ravenhill Shared Development including Global Crescent, Ravenhill Avenue and Cantrell Close, facilitated by local artist Dee Craig from Belfast Mural Art and supported by Radius, worked collectively through weekly workshops and engagement activities to decide what key messages they wanted to promote and reflect through art within the area they lived in.

Participants drew inspiration for their vision from attending a mural art tour around Belfast, which helped to create ideas of what they would like to be included. This also allowed them to consider what they didn’t want.

To finalise the artwork design and continue to build on the relationships built throughout the project, participants attended a weekend residential at Corrymela which solidified the group and helped develop the full vision and concept for the artwork. As well as creating amazing artworks the project delivered many positive outcomes for the participants and their community.

A Creative Community Art Project video tells the story from participants in their own words including the journey of all the people involved and their messages promoted though four key themes: Our Children & Young People, Our Cultural Community, Our Diverse Community and Our Safe Community.

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Creative Community Art Collaboration

This community initiaitive was recognised at the CIH All Ireland Housing Awards 2024, in the “More Than Bricks & Mortar” category for a Creative Community Art Project.

Great and agile places for our staff to develop, innovate and collaborate.

. Investing in our people - nurturing new and existing talent

We are passionate about delivering great services and rely on the support of our talented and committed people to achieve this.

Creating pathways to employment for new talent while investing in the development of colleagues so they can contribute more, are engaged and feel valued, is a central focus of the Radius Academy.

In 2023/24 we refreshed our Management Development Programme focusing on individual performance, building resilient leadership and the development of effective communications and engagement skills. This will lead to higher performing teams delivering greater service at all levels. The Management Development Programme will continue into 2024/25 and remains integral to our Academy approach.

The Academy programmes aim to boost skills through the creation of ‘Earn as You Learn’ entry level roles by way of internships, apprenticeships, and graduate schemes for those interested in kick-starting a career in housing or care and support.

We are committed to the personal development and growth of all colleagues across the Association and through the Academy deliver tailored in-house training and development courses to enable all our people to realise their full potential, advance their career prospects and to deliver services that better meet the needs and expectations of our customers and the communities we serve.

This year we launched our Apprenticeship Programme, in ICT, HR and Corporate Services and Communities. We also commenced a school engagement programme which will see employees across Radius partner schools within our local communities sharing advice on interview skills, CV building, career advice and providing starter packs.

As a dynamic and agile organisation, we must be able to adapt and build the skills within our management team to ensure they are equipped to provide good motivational and supportive management to their teams.

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Striving to provide the best possible services - rewarding excellence

Celebrating success and industry recognition for the work of our people in partnership with tenants and our communities.

DELIVERING FOR COMMUNITIES IN NORTHERN IRELAND

COMMUNITY RELATIONS COUNCIL

Throughout 2023/24, we held 190 community events, programmes and workshops with 54 partner organisations with over 10,000 participants. We also funded a further 43 projects from our Community Chest fund.

We were also winners at this year’s CRC Good Relations Awards 2024 held at Mossley Mill, Newtownabbey and hosted by the BBC’s Mark Simpson.

We secured the Good Relations Community Champion Award for The Celebrating Difference Together TREK initiative. This has involved schools with their communities through participation on a communityfocused educational programme to explore, in a fun and engaging way, how all families and communities are different.

In 2024, as a result of these activities through the excellent work of our people and the positive engagement with tenants and communities, Radius was accredited Gold by Supporting People’s TP Accreditation Team - a first in Northern Ireland.

Children and parents have been encouraged to see ‘difference’ as a good thing and embrace the shared values of Truth, Respect, Empathy and Kindness (TREK).

NORTHERN IRELAND SOCIAL ENTERPRISE AWARDS

We were also delighted to have been awarded “Social Enterprise of the Year” at the annual Social Enterprise NI Awards 2023.

Celebrating and recognising the achievements of Social Enterprises and their contribution to the local economy, these awards are amongst the most prestigious within the sector.

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Championing Community Relations

Building for the future - delivering new energy efficient and sustainable homes.

Recognition for the design, aesthetics and utilisation of innovative building methods in the construction of new homes.

This year we started 239 new homes on site designed to EPC Level A, completed a further 254 homes with 732 homes under construction on sites across Northern Ireland. During this period, we increased our ‘Housing for All’ shared future neighbourhoods to 14.

ESG REPORT

We launched our second Annual Environmental, Social and Governance (ESG) Report, setting out our priorities and the actions we will take to tackle sustainability and climate change whilst ensuring the best outcomes for customers, our communities, and the planet.

DOUBLE WINNERS AT THE BELFAST TELEGRAPH PROPERTY AWARDS 2023

We were delighted to be named winner of Residential Development of the Year 2023 for our Moylinney Court development in Newtownabbey. This is Northern Ireland’s first ever residential development for older people, designed to HAPPI principles. These principles seek to ensure older persons’ housing offers an attractive alternative to the family home and has the ability to adapt over time to meet peoples changing needs.

RTPI AWARDS 2024

We were awarded the Annual RTPI (Royal Town Planning Institute) Awards for Planning Excellence. Again, this was for our HAPPI project at Moylinney Court.

The Judges‘ commented, “This is an exemplar scheme, whereby the apartments are designed to be an attractive alternative to the family home, suitable for adaptation to meet the changing needs of tenants. The experiences of the tenants indicate that a community has been created which is peaceful and safe and has had a positive impact on residents’ health and well-being”

The judges were very impressed by quality of design of the 20 apartments and the positive feedback from tenants, commenting that such stand-out factors influenced their final decision.

MAKING OUR EXISTING HOMES MORE ENERGY EFFICIENT

85% of our existing homes are EFC Level C or above and this compares very favourably with the Northern Ireland residential average of 64%.

Securing our second award, Radius was named winner of Climate Initiative of the Year. Judges cited our comprehensive approach to tackling climate change in the property sector, having undertaken various initiatives to reduce carbon emissions in existing properties and new builds, along with other eco-friendly improvements.

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of Radius homes AT EPC-C LEVEL OR ABOVE

Read our ESG Strategy 2023-24

Being compliant, resilient, vigilant and innovative.

EFL - Putting Northern Ireland Social Housing on a European Stage.

The EFL Network offers access to relevant insights, information and expertise from the European housing sector. Events, research and projects, ensure its members and associates remain at the forefront of innovative property and community development.

The European Federation for Living (EFL) is a network of housing associations, companies and experts working to create more affordable sustainable housing across Europe. It has over 70 members and associates from 19 European countries, with a joint portfolio of more than 1.300,000 dwellings and business units across Europe.

During their visit, delegates experienced the architecture of Belfast City Hall and were hosted by the Lord Mayor. They also took in a tour of Belfast’s historical housing past.

Radius was proud to host the Autumn Conference, facilitating the shared knowledge of social housing providers with the cutting-edge thinking of leading universities and the innovative work of private sector companies.

The Conference, hosted by Radius, was well supported by our stakeholders and sponsors

An evening reception and dinner was hosted at the Great Hall at Queen’s University accompanied by music and entertainment from Beyond Skin, who have close ties with the Radius Communities Team, working together on various social projects to enhance diversity and challenge racial and cultural stereotypes through music and the arts.

The conference, based at Ten Square Hotel, featured an eclectic agenda with speakers delivering presentations and participative workshops based on the overarching theme of the twoday event – International Responses to Shared Housing Challenges.

The event was an overwhelming success with many attendees, being impressed by Belfast and our rich social housing legacy, took away new insights and ideas to develop further in their own spheres of work.

Presentation topics and workshops included:

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EFL Highlights
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Retrofitting older properties - a new sustainable way.

Putting sustainability at the heart of what we do by making our existing homes safe and energy efficient.

In 2023/24 we started work on a major sustainability pilot project at the St John’s Close apartment development in Belfast city centre. This ambitious retro-fitting project would go on to win at this year’s Unlock Net Zero Awards held in Manchester.

SCOPE OF WORKS

The internal works will include damp proofing, new kitchens and bathrooms, new heating systems and full rewiring. The external works will include new windows and doors, a roof upgrade, external insulation cladding and the installation of solar panels, all significantly increasing the Energy Performance Certificate rating of the building, delivering savings for tenants on their electricity and heating costs.

This project is an important element of the Radius ESG strategy, and will inform how we approach further retro-fitting works.

St John’s Close was built in the early 1990s and requires major repairs on both the interior and exterior of the building. As well as addressing energy efficiency and sustainability, the works will also upgrade the fire safety standards throughout.

CAREFUL PLANNING AND CONSULTATION

The works have been carefully planned following an extensive pre-design and investigation process, which looked at a range of factors, such as water consumption, waste and recycling and the health and wellbeing of tenants relating to sound, natural lighting, private space and security.

The 46-apartment block is undergoing a £4.4million retrofit which will significantly raise the energy efficiency of the apartments resulting in savings on energy bills for tenants.

This is a significant and important project for Radius and for our tenants. In our ESG Plan we set out the targets we wanted to achieve in terms of de-carbonisation, sustainability and energy efficiency, and this significant investment in St John’s Close shows our commitment to meeting these targets.

The design has been developed following a detailed process of engagement with tenants, to better understand their lifestyles and energy needs.

Across Radius

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710,000kWh on ENERGY USE 400 CUT BY 3% rooftops

Watch the ESG Launch Video

Visit our website ESG Governance

Value For Money - maximising assets and resources for the benefit of our customers

Achieving Value for Money (VFM) and continuous improvement remain key priorities for Radius. We aim to utilise our assets and resources as much as possible to meet the needs of existing and future tenants and residents.

The post-pandemic business environment has proved very challenging with almost no opportunities presenting for savings through tendering and re-procurement.

Through 2023/24 we invested over £1m in our shared communities. Radius Homes achieved a VAT recovery of around £475k on design services in the year. Meanwhile we shielded tenants from around £1.6m of the actual cost of services by reduced service charges. We donated £51k to a Community Chest Fund for the benefit of our tenants and assisted those most vulnerable by way of our Hardship Fund of £37k.

That said the Radius team has not let up in their search for greater VFM in the form of efficiencies, reduced waste and the accessing of funding and value-added services whose costs are not borne by our customers. These include:

Apart from the 662,000kWh of solar energy generated from PV panels across our stock, the additional Renewable Obligation Certificates (ROC’s) contribution for the same panels reached £112k over the year.

• Maximising the ‘Housing for all’ fund for shared communities

• Reduced waste in the goods and services we procure

In summary the VFM highlights through 2023/24 included: Community investment activities £ 996k VAT recovery through Radius Homes £ 475k Annual PV panel and ROC contribution £ 112k Radius Tenant Hardship Fund £ 37k

• Higher performance through empowered staff

Radius ‘Community Chest’ contributions £ 51k

Shielding of tenants from heating

and service charges £1,600k

We work collaboratively across traditional business unit boundaries, harnessing the innovation and creativity of our people, our customers and our business partners to deliver improvements through efficiency, effectiveness and economy. Productivity levels have returned to normal pre-pandemic levels and with the assistance of tenants, we have co-designed new contracting frameworks to help reduce wastage and improve customer experiences over time.

Summary statements

Governance

Consolidated Statement of Comprehensive Income for the year ended 31 March 2024

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2024 2023
£ £
Turnover 104,460,255 97,067,730
Operating costs (86,966,611) (83,243,376)
Operating surplus 17,493,644 13,824,354
Transfer to disposal proceeds fund (361,504) (1,336,751)
Transfer from tenant services fund 342,239 406,645
Interest receivable and similar income 765,697 127,659
Interest payable and similar charges (9,582,244) (8,439,665)
Net pension income 3,019,743 2,602,947
- -
Exceptional costs
Surplus for the financial year 11,677,575 7,185,189
Other comprehensive income/(expense):
Fair value gain on financial instruments 33,942 199,878
Pension scheme deficit reduction payments (1,319,000) (1,669,000 )
Actual loss/(loss) in terms of pension schemes (3,021,000) (2,605,000)
Total other comprehensive (expense)/income (4,306,058) (4,074,122)
Total comprehensive income for the year 7,371,517 3,111,067
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Chair: Martin Pitt

Vice-Chair: Lorraine Campbell MBE

Members:

Ciaran Doherty Stephen Dolan Linda Kelly Bobby McConnell Peter McGuiness David Quinn Niall Quinn Jaclyn Richardson John Taggart Helen Walker

Senior Management Team:

Chief Executive Director of Development Director of Care & Support Director of Assets Director of Corporate Services Director of Finance & IT Director of Communities

John McLean OBE Anita Conway Fiona McAnespie Aisling McStravick Sharon Patterson Alan Thomson Loma Wilson

Group Structure:

Radius Housing Association Limited provides housing, care and support to communities in Northern Ireland & is the Parent Organisation.

Radius Homes Limited provides property development services to assist the Association in delivering social housing development programme.

Independent Members:

Consolidated Statement of Financial Position at 31 March 2024

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2024 2023
£ £
Fixed assets Fixed assets
Housing properties - depreciated cost 972,744,431 926,893,127
Other tangible fixed assets 6,834,959 9,825,598
Investments 4,936,943 3,985,981
984,516,333 940,704,706
Current assets
Stock 10,373,490 9,236,310
Debtors 28,970,439 23,132,980
Investments 275,601 269,325
Cash at bank and in hand 9,845,047 10,104,548
49,464,577 42,743,163
Creditors: amounts falling due within one year (56,799,121) (45,050,766)
Net current (liabilities)/assets (7,334,544) (2,307,603)
Total assets less current liabilities 977,181,789 938,397,103
Creditors: amounts falling due after more than one year (807,183,308) (775,770,142)
Net assets 169,998,481 162,626,961
Capital and reserves
Called up share capital 26 26
Capital reserve 277 274
Revenue reserve 169,998,178 162,626,661
Total capital and reserves 169,998,481 162,626,661
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Melanie English Tealstone Iain Lees Tealstone Des Neill Radius Homes & Tealstone

New Members Appointed: Linda Kelly December 2023 Bobby McConnell March 2024

Retired/stepped down during the year: Sloan Harper June 2023 Mary Smith March 2024

Committee Structures:

Radius operates the following standing sub-committees:

Tealstone Developments Limited is the private development arm of the Group.

Profits emerging from the activities of both subsidiaries are gifted back to the Parent Organisation. Both have independent board members.

The Radius Foundation is a charitable trust set up to provide support services to our residents throughout the Northern Ireland. It did not trade during this year.

Registrations, Affiliations and Memberships:

Registered under the Industrial and Provident Societies Act (NI) (No IP169) Registered with the Charity Commission for Northern Ireland (NIC102575) Registered with the Inland Revenue for Charitable Status (XN 48778) Registered with the Fair Employment Commission (499)

Registered under the Data Protection Act

Regulated by the Department for Communities in Northern Ireland A member of the Northern Ireland Federation of Housing Associations A member of Advice NI Independent Advice Network A member of the NI Council for Voluntary Action (NICVA) A member of the European Federation for Living (EFL)

An associate member of the Irish Council for Social Housing

Solicitor: Wilson Nesbitt, 33 Hamilton Road, Bangor, Co. Down BT20 4LF Internal Auditor: RSM UK, Lanyon Quay, 1 Donegall Quay, Belfast BT1 3LG External Auditor: Grant Thornton (NI) LLP, 12-15 Donegall Square, Belfast BT1 6JH

Head Office: 3-7 Redburn Square, Holywood BT18 9HZ

t: 0330 123 0888

e: info@radiushousing.org

w: radiushousing.org