Annual Financial Report

Connexus Homes Limited

03 September 2025

 

Regulatory Announcement - Herefordshire Capital Plc

Issuer:

Herefordshire Capital Plc

Registered in England and Wales (No. 9279170)

Registered Office: The Gateway, Auction Yard, Craven Arms, SY7 9BW

Date: 03 September 2025

Subject: Announcement of Year End Results

Details:

Herefordshire Capital PLC has published its audited Annual Report and Accounts for 2024/25.

Despite the challenging economic environment, Group operating surplus improved to £16.9m, compared to £15.3m in the previous year. Connexus Homes Limited delivered an extensive repairs programme and capital improvement programme in year, improving the quality of its housing stock which will strengthen its position in the long term. Its rent collection performance was strong compared to peers. It has strong liquidity and available security to meet its future business plans which provides assurance about its going concern status.

Connexus Homes Limited has a healthy level of available uncharged security. A group full market valuation was undertaken in 2023 by Savills Valuers. The valuation saw a significant uplift on the values received in 2020 which were subject to a material uncertainty clause.

There are circa 2,835 uncharged dwellings available for security which have an estimated valuation of £174.4m, against which further security can be applied if required. These pools are being managed in line with future funding plans, funder security covenant requirements and market changes to the extent they effect security valuations.  The annual report and accounts can be found here.

Enquiries:

Media

Steve Atkin, Head of Communications and Marketing, Connexus Homes Limited

[phone]

Investors

James Taylor, Finance Director, Connexus Homes Limited

[phone]

 

END