Group structure
The Group structure, excluding dormant entities, as at the reporting date is shown below.
An outline of changes to the group structure after 31 March 20201 is included in an overview of post balance sheet events on page 64.
Organisational overview
On 31 December, Abri Group Limited was converted from a company limited by shares to a Community Benefit Society, an entity registered with the Regulator of Social Housing and Financial Conduct Authority.
On 31 March 2021, as part of an ongoing programme of integration within the business, a Transfer of Engagements from Drum Housing Association Limited and Portal Housing Association Limited to Yarlington Housing Group was executed, with Yarlington assuming Drum and Portal’s interests, creating two primary registered providers in the Group: Yarlington Housing Group and The Swaythling Housing Society Limited, with the former benefitting from charitable tax status. Abri Group and Oriel Housing Limited own no stock, but act as the charitable Group parent and a property developer respectively.
Yarlington Homes Limited, through direct delivery, and Radian Developments Limited, through joint arrangement activity, also engage in development activity on behalf of the group. Radian Capital plc and Yarlington Treasury Services plc are funding vehicles through which finance is raised via corporate bonds for use in the wider organisation.
Yarlington Property Management Limited provide repair and maintenance services and Inspired to Achieve Limited provide careers information, advice, guidance and employability services. Both provide services to fellow group members and external clients.
The Group utilises its structure to deliver a range of products and services, with surpluses reinvested to deliver more homes and services for customers across a range of tenures. Income is predominantly derived from rents from housing properties across social tenures, whilst income from non-social activities – both rental and sale of units – contributes significantly to the Group’s result. The Group is funded over the long term by a range of loans, bonds and government grants in addition to its retained surpluses.
Stock profile
As at the 31 March 2021 we owned and managed housing properties across 36 local authorities; those where we managed 500 properties or more are shown below.
