Transparency and efficiency

We are clear about how we spend money. It is important that we demonstrate value for money in the delivery of services to our customers. Here is our Value for Money Strategy.

As a business for social purpose, we invest our money in the things that matter most - to learn about this in more detail please read our financial accounts below.

Financial statements - Westward Housing Group Ltd 2023

Financial statements - New Horizon Homes Ltd 2023

For a quick and clear overview - watch our short film below:

Please feel free to pause the slides if you would like more reading time.

Find out more about our Board in How we are governed and see a summary of our Pay and Rewards for board members.

Our ROSH (Regulator of Social Housing) regulatory judgement 2021 can be read here.

Preventing fraud

Westward's efforts to invest our money in the things that matter most - our customers and our communities - can be jeopardised by fraud.  Fraud threatens a reduction in the availability and quality of homes, so we take it very seriously.

There are many different types of fraud including illegal subletting, false housing applications, fraud in contracting or works, fraud in procurement, and fraudulent accounting.

We aim to deal firmly with any instance of fraud.  We will take seriously, investigate and deal with any suspected fraudulent activity whether reported by customers, staff, or through whistle-blowing.

Customers with concerns about fraudulent activity should contact their housing officer in the first instance, or call 0300 100 1010 and ask to speak to the Westward company secretary.

Registration details

Westward Housing Group Ltd is an exempt charity - Community Benefit Society no. 7350. Consumer Credit Authorisation (CCA) with the Financial Conduct Authority (ref 750083). Registered office: Templar House, Collett Way, Newton Abbot TQ12 4PH; and also offices at Tarka House, Clovelly Road Industrial Estate, Bideford EX39 3HN.

New Horizon Homes Ltd (trading as Horizon Homes). Templar House, Collett Way, Newton Abbot TQ12 4PH. Tel: 01803 219090. Website Email: Registered in England and Wales No. 7625039. 

Charitable status

Westward Housing Group Limited is registered with the Financial Conduct Authority as a ‘Community Benefit Society’.  It is a not-for-profit organisation with charitable status meaning that our activities are not for the financial benefit of any one individual or board of directors but more about community well-being and serving the public interest or the common good.  No board member or shareholder receives any dividends from Westward and no officer receives bonuses.  All surpluses are reinvested in the business.

We provide homes to people who cannot afford to rent or buy on the open market.  Our rents are set at either a social or affordable rent, with rent increases being determined by the government; this ensures they are more affordable.

Some of the benefits to charitable status include:

  • Affordable rent for people who cannot rent on the open market or buy
  • Ability to bid for grant funding which is only available to charities
  • Advantageous financial arrangements such as gift aid – profits of Westward’s wholly owned subsidiary (New Horizon Homes Limited) can be donated to Westward via gift aid without the subsidiary incurring any corporation tax.  To date Westward has received £3m from Horizon Homes.

Residents benefit from the careful management of our finances and all surpluses are reinvested in our properties to maintain them.  We also use our properties to secure funding to build more homes, to help more people in the future who cannot afford to rent or buy in the open market.