Financial information about CHS Group Housing Association

Financial Information

The CHS Group consolidated financial statements for the year ended 31st March 2023 are below.

CHS is a society registered for the benefit of the community with the FCA under the Co-operative and Community Benefit Societies Act 2014, HMRC Charity no X81275. CHS complies with the National Housing Federation 2015 Code of Governance and the 2012 National Housing Federation Code of Conduct

Board remuneration

Board members may be paid for their work in accordance with CHS’s agreed policy. Although pay arrangements must be agreed by the Board, the mechanism for determining pay will be independent, either through the use of an independent advisor or through using independent guidance and industry norms. The Board will review levels of payment every three years.

Levels of Payment From October 2021,the following levels of payment apply:

Board Chair, Martin Wheatley, £6,000

Committee Chairs, £3,250

Board Members, £2,500

Regulatory Judgement – January 2024

This regulatory judgement regrades our previous published assessment of The Cambridge Housing Society Limited’s financial viability from V2 to V1 and confirms its existing G1 grade for governance.

Our previous judgement noted that The Cambridge Housing Society Limited (CHS) continued to commit to a wide range of community-based activities, ranging from support services to extra care. It had successfully taken action to de-risk some elements of its business plan, including the removal of market sales from the development programme, and continued to pursue further de-risking opportunities.

In line with CHS’s strategy it has since disposed of its last remaining care homes and nurseries. Wider changes in its care provision have allowed for further asset disposals. As a result, CHS’s reliance on non-social housing income is reduced. CHS’s board has also reduced its development programme. Together these changes mean that CHS has the financial capacity to deal with a wide range of adverse scenarios.

The regulator’s assessment of CHS’s compliance with the governance elements of the Governance and Financial Viability Standard remains unchanged. On the basis of the Stability Check, the regulator has concluded that there is no evidence to indicate a change to CHS’s current governance grading.

Regulator of Social Housing

Regulatory Standards

A Board member Declaration of Interest Register is maintained by CHS and is available to view upon request by writing to the Company Secretary.