OVERVIEW OF BUSINESS
Accord’s primary objective is to provide homes and services to people in need, whilst at the same time ensuring that sufficient
income is generated from its activities to meet its operating costs, interest costs and funding covenants. Our business
strategy provides a clear balance between growth, value for money and excellent customer service. Our strong track record of
prudent financial management will ensure that we continue to meet the needs of existing customers as well as supporting the
government in its appetite to increase the supply of new homes. By adopting a rigorous approach to financial planning we are
better placed to meet the needs of our business. Our finances are managed through the annual budget, the monthly corporate
financial reporting process and performance against predetermined key performance targets. Accord keeps the Board engaged
through regular updates on matters of financial performance and financial/business planning.
During the year Accord has built on its strengths to maintain its position as a leading, effective and innovative housing
organisation. We have continued to manage our resources efficiently to ensure we meet the demands of today whilst readying
the organisation for the challenges of tomorrow. The year ended 31 March 2017 has continued to see additional provision of
social housing and further consolidation of a sound financial position. The surplus for the year before tax was £8.770 million
(2016: £7.170m). Turnover for the year was £113.8m (2016: £120.1m) with strong underlying operating surpluses of £23.463m in
2016/17, compared to £23.245m in 2015/16. This continuing strong performance has enabled Accord to further strengthen its
financial position and continue its sustained investment in both properties and services.
Overall surpluses identify a substantial increase when compared with performance in 2016 and demonstrates Accord’s ability
to deliver value for money despite continuing financial and economic pressures in social housing and care sector marketplaces
– a trend which is becoming increasingly important. Accord also continues to highlight its commitment and focus on its core
business of delivering high quality housing and care services to around 80,000 people whilst maintaining a balance of a
responsible approach to financial management.
The development of new homes remains a fundamental objective and as a housing provider Accord recognises the
contribution that a wider range of tenures can make to the achievement of balanced, sustainable communities. During 2016/17
£39.4m was committed to developing and maintaining Accords housing assets. There were 12,717 units in management at 31
March 2017.
2017
2016
Property
Property
numbers
numbers
General needs housing
7,707
7,869
Affordable rents
1,058
840
Supported housing
1,781
1,716
Residential care homes
387
384
Shared ownership accommodation
1,185
1,204
Other
599
625
Total
12,717
12,638
40
Accord Housing Association