Transparency and
value for money

We'll always be open and transparent in how we do business and how we can treat our customers and stakeholders.

You’ll find lots of this information here, but if you need more details, you can review our financial statements.

How we raise and spend our money

At the end of 2016/17, we had an overall surplus of £130million, with loan facilities in place totalling £1,624.3 million, with current borrowing of £1,057.3 million.

For more information see our Annual Review and Value for Money statement below.

Value for Money statement

Value for money is at the heart of everything we do. We compare our performance with other housing providers, and use customer feedback to see how we’re doing.

Our value for money self-assessment shows how we achieve value for money by meeting our purpose and business objectives. It explains how we organise our assets and resources to maximise returns; assess the choices, costs and outcomes of our services, and manage performance to improve efficiency.

You can read our Value for Money Self-Assessment 2016/17 [pdf]

Rewarding our staff

The Remuneration and Nominations Committee meets at least three times a year. It makes recommendations on senior executive pay and benefits.

Staff and board salaries

Staff salaries by bands

 

The Guinness Partnership Ltd
Salary band 31/03/2017 31/03/2016
Less than £60,000 1,417 1,436
£60,001 – £70,000 32 29
£70,001 – £80,000 24 18
£80,001 – £90,000 3 7
£90,001 – £100,000 5 7
£100,001 – £110,000 4 5
£110,001 – £120,000 2
£120,001 – £130,000 2 1
£130,001 – £140,000 1 2
£140,001 – £150,000 3 2
£150,001 – £160,000 2
£160,001 – £170,000
£170,001 – £180,000
£180,001 – £190,000
£190,001 – £200,000 2
£200,001 – £210,000 1
£220,001 – £230,000 1
£250,001 – £260,000 1 1
£260,001 – £270,000 1

 

Guinness Care and Support
Salary band 31/03/2017 31/03/2016
Other employees 1,215 543
£60,001 – £70,000 3 1
£70,001 – £80,000 1
£80,001 – £90,000 2
£90,001 – £100,000 2 1
£100,001 – £110,000
£110,001 – £120,000 1
£120,001 – £130,000
£130,001 – £140,000
£140,001 – £150,000 1 1

Ratio of lowest earner to CEO

2017 2016
Chief Executive remuneration £252,000 £226,000
Lowest earner (salaried staff) remuneration £TBC £14,280
Ratio TBC 19:1

Chief Executive and Chairman's remuneration on a £ per unit basis

2017 2016
Chief Executive remuneration £252,000 £226,000
Chair remuneration £25,000 £25,000
Units 66,684 60,671
Chief Executive and Chairman’s remuneration (£ per unit basis) £TBC £4.82

Pay of The Guinness Partnership Ltd Board Members

 

Board Member Board/Committee 2017 2016
Neil Braithwaite Board Member 25,000 25,000
Peter Cotton Board Member 18,000 16,750
Jim Dickson Board Member 8,000
Mike Petter Board Member 16,000 16,000
Samantha Pitt Board Member 16,000 13,883
John Lougher Board Member 11,458
Laure Duhot Board Member 9,375
Amanda Calvert Board Member 2,117
Phil Morgan Board Member 2,117

 

Funding new homes

We invest our surplus back into improving existing homes, building new ones and providing services for our customers.

We deliver some new homes through the Homes and Communities Agency (HCA) and Greater London Authority Affordable Homes Programmes. Every year we report on our top 50 suppliers and each quarter we report on all expenditure over £500 used to deliver these HCA-funded schemes.

Being transparent about our suppliers

Our top 50 suppliers: April 2016 - March 2017

Supplier Spend (£)
Countryside Properties UK Ltd. 13,220,320
Galliford Try Partnerships 7,622,012
Sure Maintenance Ltd. 3,679,080
Hill Partnership Ltd. 3,339,927
Zurich Insurance Plc. 2,906,426
MD Building Services Ltd. 2,848,596
Opus Energy Corporate Ltd. 2,816,564
Keepmoat Homes Ltd. 2,733,642
Eor Boiler & Heating Engineers Ltd. 2,700,609
KPMG LLP 2,684,188
TLT LLP 2,636,709
Unify Enterprise Communications Ltd. 2,568,010
Willmott Dixon Partnership Ltd. 2,284,325
Randall Watts Commercial Ltd. 2,282,210
Axis Europe Plc 2,267,205
Edmundsons Electrical Distributors 2,235,640
P & R Installation Company Ltd. 2,052,724
Bell Decorating Group Ltd. 1,882,024
Sheffield Health & Social Care NHS Foundation Trust 1,827,581
Broadgate Estates Ltd. 1,787,451
Gazprom Marketing & Trading Retail Ltd. 1,682,089
Interserve Fire Services Ltd. 1,375,578
MCI Developments Ltd. 1,285,667
Hewer Facilities Management Ltd. 1,269,008
Newey & Eyre Ltd. 1,198,897
Arval UK Ltd. 1,190,217
PMC Construction & Development Services Ltd. 1,175,715
Travis Perkins 1,150,015
Trowers & Hamlins LLP 1,141,948
E G Carter & Co Ltd. 1,116,356
Hays Specialist Recruitment Ltd. 1,054,618
Sustainable Building Services UK Ltd. 1,045,878
G Purchase Construction Ltd. 1,045,878
Paul Newman New Homes 1,001,559
Mitie Property Services UK Ltd. 977,836
PLP 956,481
RW Dickson Ltd. 932,123
Michael Page International Recruitment Ltd. 908,216
C G Fry & Sons Ltd. 895,307
Bedford Riverside Regeneration Ltd. 872,539
Barwood Ventures Bow Ltd. 834,400
Wates Living Space Maintenance Ltd. 827,928
Easynet Enterprise Ltd. 802,739
Axis Elevators Ltd. 797,024
Shell UK Oil 776,699
Rixonway 775,521
Comparex UK Ltd. 754,380
Redbridge Interiors Ltd. 749,926
British Telecommunications Plc 687,688
Kingfisher UPVC Windows & Doors Ltd. 661,664

 

Clear customer policies

At Guinness we have policies that guide us in delivering services to our customers. They’re explained in our customer services section, but you can read some of our key policies below.

We also produce a customer version of our Annual Review [pdf] each year and encourage our customers to get involved with our work.