As we did not come into being until 3 April 2018. our first audited statutory accounts for LHP won't be available until the late summer of 2019 but here are our Financial Statements and Value for Money documents published prior to the merger of Boston Mayflower and Shoreline.
Our initial business plan is based on effective management of our existing estate and only adding to it on a prudent and modest basis plan. Our initial focus is consolidating the two organisations into LHP, while continuing our existing major repair programme. We concentrate on our core product, social housing with some shared ownership properties. We have a modest growth programme of both types of properties but do not have any exposure to outright sales.
Our business plan is managed through a prudent framework of planning and decision making and we work within a set of ‘Financial Golden Rules’ agreed by our board. These set out our expected minimum operating margins, maximum net debt/turnover ratio and social housing interest cover. The business plan is also regularly stress-tested, both in respect of single variant sensitivities as well as more complex combinations of factors or scenarios.
Our current funding is a combination of a bank loan, a private placement and finance raised from the capital markets. LHP is currently rated by Standard & Poor’s as A with a negative outlook.
Our Finance and Investor Relations Team is led by Julie Kennealy, Director of Resources. Julie is responsible for all aspects of LHP’s finances. A chartered accountant, she has extensive experience of working in the housing, local authority and not-for-profit sectors at a senior level as well as significant expertise in complex capital financing arrangements.
To contact Julie please email: firstname.lastname@example.org
Appointment of Director of Resources at LHP Limited
Julie Kennealy has commenced as Director of Resources at LHP Limited.
Julie brings a wealth of finance experience to LHP and is joining from Sutton Housing Partnership where she was Executive Director Resources. She has considerable experience at a senior level in public, private and not for profit organisations and an established track record in the development and delivery of major regeneration developments.
Change of Directors of Boston Mayflower Finance plc
On 3 April 2018 the Directors of Boston Mayflower Finance plc were changed from Lynda Bowen, Karen Hall, Murray Macdonald, Louisa Clarke and Sarah McKay to Murray Macdonald, Bridget Lloyd and Mark Jones.
Lincolnshire Housing Partnership Limited registered as a charitable Community Benefit Society under the Co-operative and Community Benefit Societies Act 2014 with registered number: 7748. Data Protection registration number: ZA345449 Registered Office: Westgate Park, Charlton Street, Grimsby, North East Lincolnshire, DN31 1SQ