Annual Report 2024–2025
Welcome to the Ark Housing Annual Report 2024-2025 Making a Positive Difference by Empowering People and Communities
2 Ark Housing | Annual Report 2024–2025
Contents 4 Foreword from the Chair and Chief Executive 6 Annual Highlights 7 Corporate Themes 8 Housing and Customer Services Report 10 Communities and Homeless Services
12 Housing Stock Overview 13 Property Services Report 14 Assets, Maintenance and Repairs 15 Stock Investment 16 Financial Performance This report is available in a range of alternative formats including braille, large print, audiotape or digital, as well as other languages. Please contact us should you require further assistance.
Ark Housing | Annual Report 2024–2025 3
Foreword from the Chair and Chief Executive
Home is more than a roof over your head. It’s safety, stability, and a place to belong
This year, despite unprecedented funding pressures facing Northern Ireland’s social housing sector, we continued to work tirelessly to make that sense of home a reality for more people than ever. We began the year against the backdrop of a well- publicised funding shortfall for new social housing. Across the region, essential projects faced delay or cancellation. Yet, in the face of these challenges, we pressed ahead, driven by our vision of making a positive difference by empowering people and communities. We ended the year with 867 homes in management, having added 53. We also allocated 122 new tenancies, and continued to deliver on our growth ambitions with 319 homes under construction and 122 more progressing to approval by the end of the year. Alongside building new homes, we invested over £630k in planned maintenance and adaptations, from fire safety upgrades to new boilers, windows, doors, and accessibility improvements, ensuring that our existing tenants enjoy safe, high-quality homes.
Our work extended beyond bricks and mortar. We strengthened the tenant voice, hosting 32
4 Ark Housing | Annual Report 2024–2025
tenant meetings, 8 estate walkabouts, and delivering 156 community events through our Housing for All programme. Each was an opportunity to connect, listen, and act, shaping services around the needs and aspirations of the people we serve. We also continued to invest in Homeless Services and during 2024–2025, demand for our Floating Support service remained strong, with the team receiving 180 referrals. By the end of March 2025, 118 clients were actively receiving support. In addition, a total of 226 cases were successfully closed during the year. These achievements are only possible because of our people. With 92% of staff satisfied in their roles and over £31k invested in training and development, our team’s expertise, dedication, and compassion have shone through in every interaction and every project completed. None of this progress happens without a strong financial foundation. This year we increased our property asset base by £14.7m, maintained a low gearing ratio, and fixed 72% of our secured loans at competitive rates. Our financial resilience is the platform that allows us to invest, to innovate, and to keep meeting housing need year after year. To our tenants, staff, Board, partners, and stakeholders, thank you for your trust, commitment, and shared belief in what we can achieve together. In the year ahead, we will continue to grow, to adapt, and to deliver on our mission. Chair Chief Executive Tom Doran Jim McShane
Ark Housing | Annual Report 2024–2025 5
Annual Highlights
7 Housing Schemes with solar panels
4,577 Response Repairs ordered
100% Fire Risk Assessment
98% Gas Safety Compliance
£7.7m invested in new homes (from 53 completions)
53 new social homes completed in 24/25
74 new homes started on site in 24/25
48
Antrim Borough Council Ards District Council Armagh City Banbridge and Craigavon
192
EPC A
61
281
Belfast City Council
90% Repairs completed on time
319 homes currently under construction
All new homes EPC standard of A
Highest possible regulatory rating of 1
27 62
Causeway Coast and Glens Derry City and Strabane Council
9
Fermanagh and Omagh District Council
Lisburn and Castlereagh Council 59 Mid & East Antrim 33 Newry, Mourne and Down 95 TOTAL PROPERTIES 867
£31k invested in staff training and development
7 Shared Housing Developments
£633k stock investment 2024–2025
100% Decent Homes Standard
6 Ark Housing | Annual Report 2024–2025
Corporate Themes:
Service Excellence, Satisfied Customers
Staff receive learning and development Employee Retention Leading Employer
95% Employee Retention
Overall Repairs Performance Occupancy Rate
91.9% 99% 0.2% 130%
100% 95%
Void Stock
Better Homes, Greater Diversity
867 homes owned and managed
Mould management
100% 100% 100%
Homeless Services Throughput
Fire Risk Assessment
Financial Assurance, Sustainability
Fixed wire testing
Rent & other charges collected
100.8%
EPC average of C
Engaged Communities, Greater Impact
Inter-agency and Forum meetings General Tenant and Resident meetings Housing For All & Community Occasions Estate Walkabouts
23 32
71% Overall Tenant Satisfaction
156 8
41 Staff
Ark Housing | Annual Report 2024–2025 7
Housing and Customer Services Report
Housing Stock by Type General Needs 712 Sheltered 74 Supported 56 Homeless 25 Grand Total 867
867 HOMES
Average Rent Table No. of Beds
No. of Homes
Average Rent
1
232
£88.55
2
457
£113.51
3
150
£124.35
4
11
£135.56
Bedsit
17
£46.88
Grand Total
867
8 Ark Housing | Annual Report 2024–2025
Rents Arrears
Tenants Forum: Met 4 times this year and were involved in: • Planning and delivering annual tenant conference • Reviewing and approving the 25/26 tenant participation budget • Providing recommendations to enhance access for gas servicing • Monitoring KPIs • Reviewing the tenant satisfaction survey and developing a targeted action plan based on feedback.
Total arrears – 8.1% Current tenant arrears – 5.8% Former tenant arrears – 1.3% Net current tenant arrears – 1.3% Non-technical arrears – 5.0%
Allocations
Total Allocations – 131 Permanent Allocations – 122 Temporary lets to our homeless family hostel – 9 General Need – 70% Sheltered – 8% Supported – 13% Cat 1 (over 55 accommodation) – 9%
Average re-let time
36 working days
Anti-Social Behaviour
16 cases 63% closed ASB Reported: Neighbour dispute – 18% Noise – 56% Threatening behaviour/Harassment – 26%
Complaints
2 formal complaints received 100% responded to on time 100% resolved at stage 1 Complaint type: Customer Services – 50% Repairs – 50% Overall Satisfaction – 71% Standard of home – 74% Rent & Service Charge VFM – 72% Repairs & Maintenance – 83%
Tenant Satisfaction
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Community Investment During 2024–2025 68 engagement activities. 960 adult participants and 168 children. 8% of tenants signed up to tenant engagement register. Communities
Shared Housing: During 2024–2025 our Shared Housing Programme continued to develop and deliver on our good relations plans across each of these developments. With a shared portfolio of 7 developments and a total budget of £2.6m , meant that we were able to deliver a total of 156 Housing For All programmes in partnership with a wide range of external organisations and community representatives.
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Homeless Services Floating Support Service families were referred to our service over the course of the year
180 118 226
families in receipt of support at the end of March 2025
support cases were successfully closed
Community Engagement within the Floating Support Service We were able to secure £15,940 in funding through: • Education Authority TBUC Camps
• Public Health Agency • Belfast City Council • Eden Communities Sharing Table Initiative
£15,940 Secured Funding
This funding meant that we were able to successfully deliver diverse programmes and activities for families in receipt of floating support.
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Housing Stock Overview (March 2025)
74
new homes started on site (Costing - £13.9m)
53
completions (Costing - £7.7mm)
307
on site
1000
GROWTH OF ARK STOCK
867
814
800
717
605
600
537
453 480
400
2019 2020 2021 2022 2023 2024 2025 Year
12 Ark Housing | Annual Report 2024–2025
Property Services Report (Development) Starts Ballygawley Road, Dungannon Started March 2024 45 units (37 houses, 8 apartments) Ballykelly Started March 2024 17 units (13 houses, 4 apartments) North Belfast Started March 2024 12 units (apartments) Completions Railway Road, Coleraine Units Started 45 17 12
Completed April 2024 12 units (apartments) Frances Street, Newtownards Completed June 2024 14 units (apartments) Waterloo Place, Londonderry Completed July 2024 14 units (apartments) Wood Street, Randalstown Completed April 2024 4 units (houses) Ogle Street, Armagh Completed March 2024 5 units (apartments) Old Glenarm Road, Larne Completed January 2025 4 units (houses)
4
5
12
4
14
14
Units Completed
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Repairs Completed 1.04.2024 – 31.03.2025 Response repairs orders raised including voids 4,577 (a 21% increase on 23/24) Assets, Maintenance and Repairs Gas safety compliance 97.7% Response Maintenance
• Overall – 90% • Routine – 90% • Urgent – 93% • Emergency – 90% Adaptations • 26 minor • 100% tenant satisfaction Adaption works • Level access Shower – 10 • Grab rails – 13 • Hearing impaired alarm - 1 • Door adjustments - 2
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Stock Investment 2024-25 we made an investment of £633k Fire Safety Improvements • Compartmentation works and fire door upgrades across multiple sites • Ongoing complex works extending into the next financial year Thermal Comfort Enhancements • Window and door replacements • Energy-efficient boiler installations • Modern Economy 7 heating upgrades Key Projects • Door and window upgrades at Cumain House, Portaferry, • Fire safety works at Cumain House, Windsor Avenue, Roseville House, Catherine Court, Allworthy Avenue and Brooklands Grove, • Lift upgrade at Conor House and Windsor Avenue • Redecoration and multiple sites
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Financial Performance The financial statements reflect the financial performance and financial position of Ark Housing Association for the year ended 31 March 2025 and has been prepared in accordance with FRS102 and Housing SORP 2018. For 2024–2025 the Association continues to see significant growth of the development programme accompanied by consolidation of all aspects of the company’s business. We again reported a strong financial performance for the 2024–2025 financial year with a surplus (before pension items) of over £1.013m (2024: £1.13k). Annual turnover increased by 18.5% to over £8.0m (2024: £6.7m) reflecting the Association’s ambitious growth strategy. We invested an additional £14.7m in fixed property assets, bringing the total to over £128m (2024: £114m) reflecting our continuing commitment to investing in new and existing homes. By the end of March 2025, the Association had made significant progress towards achieving this strategic objective with 867 (2024: 814) homes in management, a further 319 homes on site and under construction, and a further 122 starts under final appraisal. During the year our borrowings increased by £6.3m to £32.6m while at year end, we had an undrawn Revolving Credit Facility balance of £5.8m is in place. The Association continues to grow from strength to strength each year and this is clearly reflected in our balance sheet, where we now have total funds of over £9.8m.
Key Highlights
March 2025
March 2024
867
814
Number of Homes
74
59
New Homes started on Site
53
99
New Homes Completed
319
293
New Homes under Construction
0
4
Homes Sold
41
39
Number of Staff
£8,014,780
£6,783,783
Turnover
£1,013,158
£1,131,940
Surplus on Ordinary Activities
£14,795,704
£12,571,142
Development Spend
£9,668,746
£6,042,582
Grants Received
16 Ark Housing | Annual Report 2024–2025
Income & Expenditure Account for the year ended 31 March 2025 £ 2025
Balance Sheet as at 31 March 2025 2025 2024 FIXED ASSETS £ £ Housing properties - depreciated cost 117,678,045 104,579,962 Other tangible fixed assets 803,081 870,710 118,481,126 105,450,672 CURRENT ASSETS Debtors 3,034,095 6,368,278 Cash at bank and in hand 3,866,737 1,880,134 6,900,832 8,248,134 Creditors: amounts falling due within one year (12,728,269) (16,676,832) Net Current (Liabilities)/Assets (5,827,436) (8,428,420) Total Assets Less Current Liabilities 112,653,689 97,022,252 CREDITORS: amounts falling due after more than one year (102,836,871) (88,148,111) NET ASSETS 9,816,818 8,874,141
£ 2024
8,014,780
6,783,783
Turnover
(5,893,153)
(4,820,591)
Operating costs
Gain/(Loss) on disposal of housing properties
–
23,878
2,121,627
1,987,070
Operating Surplus
Interest receivable and similar income
19,070
15,177
Interest payable and similar charges
(1.153,539)
(876,307)
6,000
9,000
Other finance costs
20,000
(3,000)
Additional Pension Service Costs
Capital and Reserves Called up share capital
10
9
1,013,158
1,131,940
Surplus on ordinary activities
43
43
Capital reserve
Actuarial (loss)/gain on pension scheme
(26,000)
(88,000)
27,968
56,979
Restricted reserves Revenue reserve
9,788,797 9,816,818
8,817,110 8,874,141
Total comprehensive income for the year
987,158
1,043,940
TOTAL FUNDS
Ark Housing | Annual Report 2024–2025 17
Boards and Committees Board of Management & Advisors Solicitors Edwards & Co
Board of Management Mr Tom Doran (Chair) Mr Ian McAvoy (Vice-Chair) Ms Nicole Mulholland Ms Deborah Reynolds Ms Sara McClintock Mrs Denise McElrea Ms Catherine Blackbourne Mr Robert Hutchinson Ms Chi Ting Yip Mr Christopher Dickison (joined 2nd Sept 2024) Chief Executive & Company Secretary Mr James P McShane Registered Office Unit 1, Hawthorn Office Park 43 Stockmans Way
3rd Floor, Sessia House, 61-67 Donegall Street Belfast BT1 2QH Independent Auditors RBCA Limited Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG Bankers Danske Bank Donegall Square West
Belfast BT1 6JS
Belfast BT9 7ET Registered under the Co-Operative and Community Benefit Societies Act (Northern Ireland) 1969 No IP00306 Registered with the Department for Communities (NI) R50 Registered with the Charity Commission for Northern Ireland NIC104547
Tillie and Henderson Shared Housing Development, due for completion in 2027
18 Ark Housing | Annual Report 2024–2025
Ark Housing | Annual Report 2024–2025 19
Making a Positive Difference by Empowering People and Communities
Contact Us: 02890 752310
info@arkhousing.co.uk Ark Housing Association Unit 1, Hawthorn Office Park 43 Stockman’s Way Belfast BT9 7ET www.arkhousing.co.uk Facebook.com/arkhousing X.com/arkhousing Linkedin.com/arkhousingni Bluesky.com/arkhousing
Ark Housing Association Northern Ireland Limited is registered in N.I. with Industrial and Provident Society (IP000306), Department for Communities (DFC50) And Charity Commission of Northern Ireland (NIC 104547). Recognised as a charity by the Inland Revenue, Ref. NO. XR 38643 Registered under the Data Protection Act 1984 Reg. No. 24869009
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