Leeds Federated

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Financials

It has been another strong year financially for Leeds Federated. We finished 2018/19 with a comprehensive income of £2.1m (a movement from £6.2m in 2017/18) – £4.1m of this is a result of pension accounting obligations applicable in the year. Social Housing Cost Per Unit (CPU) for 2018/19 was £3,010, an increase from £2,980 in 2017/18. This is below the regional median social housing CPU of £3,160.

We spent £1.8m on replacement components in 2018/19.

We continue to look for ways to offer value for money and deliver cost effective services to our customers when compared to other housing associations. We also look for ways to reduce costs to enable us to have more money to invest in the business and build more homes. By investing in technology we can deliver better customer service and work smarter as staff can access our housing systems when they are out of the office.

This year we built/delivered 171 new affordable homes (119 affordable rent and 52 shared ownership)– of the 119 affordable rent, 60 were at social rent levels. This development cost £12.8 million.

For more information about our financial performance, please see our Financial Report and Accounts.

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