The Shareholder Committee meeting was scheduled to consider year-end updates for Westminster Builds and Westminster Community Homes, as well as a private update on Westco. The reports provided an overview of financial and operational performance for the 2025/26 period for these entities.

Westminster Builds Year End Update 2025/26

The report for Westminster Builds detailed its financial and operational performance for the 2025/26 period. The company managed 108 intermediate rent homes, with plans to acquire an additional 31 homes at Westmead and 18 homes at West End Gate Block H in the following year, bringing its total portfolio to 157 properties. The accounts for 2025/26 were undergoing audit, with the company expected to remain a going concern and having made an operational profit of £0.421m.

Key activities scheduled for discussion included the ongoing dissolution of the Luton Street LLP¹, the application process for Westminster Housing Provider Limited (WHPL) to achieve for-profit Registered Provider (RP) status², and the delivery of Ebury Phase 2³ through Westminster Housing Developments Limited (WHDL). WHDL was set to partner with the council to deliver Ebury Phase 2, with the main works contract expected to commence in mid-Summer 2026. The report also provided a draft profit and loss position for 2025/26, noting variances in administrative expenses and a fair value movement in investment property. The company's debt-to-asset ratio was reported as 36.0%, which is considered favourable compared to the industry average for Housing Associations.

Westminster Community Homes Year End Update 2025/26

This report outlined Westminster Community Homes' (WCH) performance against Key Performance Indicator (KPI) measures for landlord services and financial metrics for the 2025/26 period. It also detailed the delivery of the annual management plan for 2025/26 and presented the 2026/27 budget, which had been approved by the WCH Board.

Performance highlights for landlord services included an 80% resident satisfaction rate against a target of 85%, and 93% of non-emergency repairs completed on time. However, rent arrears ended the year at 9% against a target of 1%. The report also noted 100% compliance in Health and Safety areas such as Gas, Electrical, Asbestos, Legionella, and lifts. Financially, WCH was predicting an operating surplus of £0.506m for the year ending 25/26, an improvement from the previous financial year. Significant investment in stock quality was highlighted, with £1.203m spent on Repairs & Major Works. The report also detailed the progress of the MOT Yard⁴ development at 581–587 Harrow Road, which was set to deliver 15 social rented homes. The 2026/27 budget was presented, projecting a surplus of £0.427m, with a 5% contingency included to mitigate potential costs arising from a cyber-attack.

Westco Year End Update 2025/26

The meeting was scheduled to consider the financial and operational performance of Westco during the 2025/26 period. This item was part of the private session of the meeting.