Money
Between 1st April 2013 and 31st March 2014 we received income of £37,119,000 and spent £35,305,000. The surplus will be spent delivering more of our promises to you over the next three years. Our audited financial statements can be read here.

We spent £14,541,000 on delivering the promised improvements to your homes
Between 1st April 2013 and 31st March 2014:

This is where our money came from:


This is what we spent our money on:


We now have contracts in place, using contractors selected by tenants and leaseholders, to deliver the promises made to you at transfer and we are spending less than we originally planned.

We have reviewed our sheltered homes and identified six schemes where the buildings are not suitable or sustainable as sheltered housing and where further investment is not value for money. After extensive consultation with tenants, we will be closing these schemes.

We have built a strong financial foundation for the business so that we can continue to deliver the services tenants and leaseholders want.


Deliver the promised improvements to your homes over the next three years.

Improve the value for money we deliver, focusing on improving how we re-let vacant homes, deliver sheltered housing support services and procure new contracts.

Measure the wider community value of what we do.


The Board has reviewed how well we deliver value for money and the full report can be read here.

We made savings on the year-on-year cost of delivering services to you of £1,014,000 - a combination of changing our processes and systems, out-sourcing contracts and procuring new ones.

We have developed a culture that encourages everyone to spend on services that are important to our customers, not things we have traditionally done.

We have identified areas where we need to improve. The re-letting of empty homes is a key area.

We need to better understand better the true cost of delivering services.

Khalid Khan (Improvement Commission)

"As a tenant member of the Improvement Commission, I keep a watchful eye on how the money Red Kite receives is spent. I want to make sure that the money I pay and my fellow tenants and leaseholders pay in rent and service charges results in all of us getting services that are value for money.   

The Improvement Commission has a key role in scrutinising the services that Red Kite provides. Over the course of the last year we completed two service reviews on anti-social behaviour and on new bathroom andkitchen installations. We are currently looking at how Red Kite uses feedback from tenants and our findings and recommendations will be reported to the Board later this year. The opportunity to drill down in each of these areas and look in detail at how services are provided, what works and what doesn’t ,is a really exciting one and I feel privileged to have the opportunity to help shape Red Kite. We are always looking for new members to join us so if you want to learn new skills, build up your CV and work with a great team of people, please get in touch."

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