The chair, Kate Pearlman-Shaw, opened the 64th LJHA AGM by welcoming tenants, staff and board members of LJHA and said that LJHA Board members will be available after the AGM for questions.
“The focus this year has been preparation for development, so LJHA can grow and develop, assessing the needs and finances to enable this” – Kate Pearlman-Shaw, Board chair of LJHA.
“Housing Associations need to demonstrate their value to their local communities. Last year we were in a development phase, importantly so as to work closely with Donisthorpe Hall, the LJWB and Rep Council to discuss what is best for us all.”
As reported in the press recently, all parties are working more closely than ever to look at how they can provide needed and state of the art services for older people, that continues our community’s longevity, and LJHA’s reputation for being ahead of the game.
“We expect to be able to say more and to go into consultation with the wider community early in the New Year” said Kate, “As part of this process, we will need to rationalise stock to be in a state of readiness for development both for land and funds available.”
LJHA Executive Management are currently holding road shows across all schemes, to include tenants in the thinking so far, and take the opportunity to understand and to report back on the recent tenant satisfaction survey.
Redevelopment has already started at Stone Court to expand the general needs housing portfolio, along with a new lift and refurbished communal areas in sheltered schemes.
“Following the appalling tragedy at Grenfell Towers, we commenced an immediate review of our fire safety procedures and guidance, with West Yorkshire Fire advising that the stay put policy stays in place.”
Kate continued, by thanking the staff and board members of LJHA due to the stepping down from Nicola Smaje-Rosenbloom they are now recruiting for the following:
•One main Board Member with either building development experience or community or caring professions experience – these were identified in our skills audit.
For diversity purposes we will also be looking outside our community and / or at different subsections within our own community.
•We are also looking for a second experienced accountant for our Finance, Audit and Risk Board to ensure we have the right resources in place for succession planning purposes.
For further details please contact firstname.lastname@example.org
Daniel Myers, LJHA treasurer reported another solid financial year for the association.
“The spend on maintenance and improvements has increased by £100K to a £600K total in the year, even with expenditure managed in line with constraints on income.
Major development expenditure maintained at almost £0.5M therefore total expenditure on the estate was £1.1M, compared with £1M the previous year. Due to this we had to reduce the operating surplus for the year from £465K to £334K. After interest and financing costs, the association still made an overall surplus of almost £100K.
Revenue was flat at £2.9M, in line with recent legislation controlling rent levels.”
Daniel continued with his report, stating that: “No new borrowing has been entered into, and LJHA continue to fully service all its bank loans, and is therefore compliant with all related bank covenants.
The current level of loans £3.3million, continue to be comfortable covered by the values of the relevant properties.
It is critical that we continue to manage our finance tightly” said Daniel “and remain acutely aware of the challenge facing us in the general economic environment.”
The company auditor, Saffrey Champness issued an unqualified audit opinion on the 2017 accounts & the auditors were formally re-appointed for another year.
“It is critical the association manages the finances tightly and direct the areas to invest in ways which will achieve the best results” said Daniel.
LJHA Financial Statements can be viewed on our website here.