Annual Financial Report

Moat Homes Limited

14 August 2025

 

Moat Homes Limited

14 August 2025

Moat Homes Annual Report and Financial Statements 2024/25

Moat Homes Limited 

Moat Homes Finance Plc 

£300,000,000 5% Secured Bonds due 2041

Dated 12 August 2025

Moat today published its consolidated audited financial results for 2024/25, highlighting the continued growth in the number of homes under management and increased investment in both existing and new homes, despite a challenging operating environment.

Total turnover for the year was £164m (2023/24: £154m). Core social housing lettings turnover grew by £16.5m, 12.3% increase, driven by rental growth from newly developed homes and inflation-based annual rent increase.  

Turnover from first tranche shared ownership sales totalled £11m (2023/24: £17m), reflecting a lower number of properties available for sale. At 31 March 2025, two first tranche homes remained unsold and no market sales planned until 2026.

The operating surplus from social housing lettings increased to £40m (2023/24: £37m), despite higher spending on repairs associated with an interim contract and ongoing investment in skills and capacity. Higher interest costs and fair value movement on financial investments resulted in a total surplus of £12m (2023/24: £21m). Moat has an A3 stable credit rating from Moody's.

2024/25 was a significant year of investment, with £63m (2024: £51m) allocated to existing homes through repairs, maintenance, decarbonisation and component replacements, and £81m (2024: £107m) in building new homes.   

A total of 478 new homes (2023/24: 354) were completed during the year - 369 for rented (77%) and 109 for low-cost home ownership (23%). We have 1,192 (2023/24: 1,704) new homes in the development pipeline.

Moat's Annual Report and Financial Statements 2024/25 are available at https://www.moat.co.uk/about-us/investor-information

Moat Homes appoints new Chair

On the 30 July, Helen Evans was announced as the new Chair of Moat's Board, beginning in September 2025. Helen succeeds Steve White, who has stepped down after an incredible nine years of dedicated leadership.

Under Steve's guidance, Moat has grown in both strength and purpose - sharpening its strategic direction, enhancing services, and deepening its commitment to delivering high-quality, affordable homes. His unwavering dedication has laid the groundwork for our next chapter.

Helen brings more than four decades of experience in social housing, local government, and the broader public sector. A highly respected executive and non-executive leader, she is known for her strategic vision, people-first leadership, and a strong track record in driving transformation and regulatory compliance.

Notes

Moat is a leading housing association, managing over 23,000 affordable homes in communities throughout the South East of England.

We are passionate about making a difference - the homes we build enable people to build their lives, put down roots and thrive in their communities.

We aim to be a partner of choice, building strong vital relationships with local authorities and other stakeholders so that we can provide the homes and services that best meet local needs.

For further information please contact:

Gloria Yang

Executive Director of Finance

[e-mail]

 

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