Introduction

Sapphire’s annual report for the financial year 2024/2025

SAPPHIRE ANNUAL REPORT 2024/25
© Sapphire Annual Report 2025.

Welcome from the Board and Chief Executive

We are pleased to present Sapphire's annual report for the financial year that concluded in March 2025.

Please read on as we reflect on our journey over the past year!

We are pleased to present Sapphire's annual report for the financial year that concluded in March 2025.

The most significant achievement of the past year was the completion and handover of several new homes in Hounslow. Our partners and stakeholders are aware that we launched our development program in 2020. Since then, the external environment has posed significant challenges. We are proud and relieved to have completed the handover of 27 homes, welcoming new residents. We celebrated this milestone with the opening of our Ashford Road scheme in the spring.

Enhancing residents' lives

Moving into a new home can be a transformative experience, and it has been uplifting to meet the new residents and see the positive impact this change will have on their lives. This aligns perfectly with Sapphire’s mission to provide homes and services that enhance residents' lives.

Throughout the year, we have also focused on the well-being of our existing residents. We conducted comprehensive tenancy visits to all general needs residents, which proved to be an invaluable opportunity to engage directly with them. These visits allowed us to enhance our services and address concerns, including repair issues that had previously gone unreported.

We are pleased to announce that our 2025 resident satisfaction survey shows an increase in overall satisfaction among residents.

As part of our consumer standards action plan, we implemented several improvements, particularly in how we handle complaints. We successfully addressed 97% of Stage 1 complaints in full and on time. Following a reassessment, we have retained our Customer Services Excellence (CSE) accreditation.

We acknowledge that there is still more work to do in terms of resident voice and engagement. To address this, we have decided to develop a new strategy through collaborative workshops that have involved residents, Board members, and staff. This initiative will pave the way for establishing a scrutiny panel in the next year.

Supported housing is central to Sapphire’s mission; however, it is becoming an increasingly challenging area. We understand that our local authority partners appreciate our supported services, but throughout the year, we have had to collaborate closely with them to adjust or reduce the number of residents in supported housing to align with available funding.

As a landlord, safety is a top priority for both our staff and the Board. Throughout the year, we conducted compliance checks in all our buildings and took action on any necessary issues that were identified.

Valuing our colleagues

We are pleased to have achieved a net promoter score that places us in the highest quartile, with a staff satisfaction rating of 70%. The effectiveness of our service delivery to residents relies on our dedicated staff team. At Sapphire, we prioritise the well-being and value of our colleagues, recognising their crucial role in achieving our aims. During the year, we have implemented a well-being strategy aimed at enhancing the health and wellness of our team members.

Like many registered providers, Sapphire has been navigating a challenging environment while striving to deliver effective services to residents. Although we have demonstrated our ability to adapt and diversify in response to various challenges, we want to ensure we are well-prepared for the future. To do this, we decided to conduct an organizational review. We engaged Altair consultants to carry out a comprehensive assessment, which included workshops with both residents and staff. They provided several recommendations that we plan to implement over the next 18 months.

We have included a summary of our audited accounts in the annual report, and we are pleased to share that we achieved a surplus. This places us in a stronger position to enhance our financial resilience, as we begin to receive income from our new homes this year.

We would like to express our gratitude to the staff and Board members at Sapphire for their hard work and dedication over the past year. Additionally, we would like to extend our thanks to our partners and stakeholders for their continued support.

Heather Thomas, CEO and Sir Steve Bullock, Chair of the Board

Provide services that support the lives of our residents

Strengthening Resident Voice

We reinvest all our earnings into the enhancement of our homes.

In September 2024, we began a full review of our resident engagement offer, aiming to strengthen Sapphire’s commitment to giving residents a stronger voice, greater influence, and a genuine partnership role in shaping the homes and services they receive.

This led to the creation of our new Resident Engagement and Involvement Framework, which includes the Resident Engagement Policy and Strategy for 2025–2028.

Developed collaboratively through three focus group workshops held between December 2024 and June 2025, the framework reflects the shared experiences, priorities, and vision of residents, staff, and Board members.

Looking ahead

Looking ahead, our goal is to embed a culture of mutual trust, respect, and accountability, ensuring that engagement is both meaningful and easy to access, and that resident feedback directly drives service improvements.

Progress will be monitored and reported annually to demonstrate the tangible benefits of involvement for individuals, communities, and the organisation.

This approach impacts all Sapphire residents, Board members, employees, contractors, and community partners, with a commitment to making opportunities inclusive and accessible to all.

As part of this work, we are launching a new Scrutiny Panel, inviting residents to play a central role in improving housing and support services, and ensuring every tenant’s voice is heard. We are excited about the opportunities this framework will bring.

We want to grow our business to ensure we are playing our part in meeting housing need and to ensure that our existing homes meet quality and sustainability standards.

Providing more and better homes

Providing high quality homes and services for our residents remains a priority and our new schemes are no exception.

We have been working closely with the London Borough of Hounslow on developing new homes in the Borough on former garage court sites. We have agreed terms to purchase a long lease on 20 development sites in Hounslow and have completed 15 leases.

All these sites have planning consent and we have a programme of 103 new homes to develop. We work closely with the Greater London Authority, who provide grant funding for the developments.

At the end of March 2025, with our construction partners Helix Construct, Ark Build, Ermine Construction and Chartwell Vision, we completed 27 new homes.

We anticipate a further 12 homes will complete in August 2025, we will have completed a total of 64 new homes. A further 9 homes will complete in April 2026 at Sparrow Farm Drive.

Planning the development pipeline

The remaining 30 homes will start before March 2026, 24 new homes will be delivered at 3 sites on Oxford Way, Feltham these will start in August 2025. We will be looking to start building our final Hounslow site at Manor Gardens.

Our future pipeline currently consists of a potential scheme in Brent in partnership with the Brent Community Land Trust which will provide 19 new homes on a site in Harlesden. Planning will be submitted in November 2025. We are also in the process of developing a single home in partnership with a developer at Harrington Square in Camden.

Providing high quality homes and services to our residents remains a priority and our new schemes are no exception. We are especially pleased to be aiming for zero carbon homes as part of our new programme, which will enable our residents to enjoy comfortable new homes, with affordable energy bills.

Investment Partner Status

Sapphire are also delighted to announce that we will be looking to retain “Investment Partner Status” for the new affordable homes programme, which will start in March 2026. This will enable Sapphire to develop a programme of affordable new homes through the Mayor’s Homes for Londoners Programme.

To be an employer of choice

We want our people to be engaged and empowered because we know that our colleagues are the face of Sapphire. We believe that having fully engaged people is the best way for us to provide excellent services to residents and communities.

We believe that having fully engaged people is the best way for us to provide excellent services to residents and communities.

Employee of the Year 2024 – Linda Jones

Sapphire’s Employment, Training and Education Co-ordinator at Conway House, Linda Jones, was awarded the Employee of the Year Award 2024.

Linda was nominated by her peers for the increased resident engagement in activities due to her persistent endeavours; the fact that she knows all the residents in the hostel; and the support she provides her colleagues.

Her colleagues say:

Linda works in the Training Resource Centre and has an open door policy for residents to come in and have a chat. I’ve known a resident to go to the TRC because Linda will make them a cup of coffee and have a chat and she has been able to gain vital information that keyworkers may not have been aware of.”

Linda will always go the extra mile for the residents. If there are barriers in the way, she will find the right person or people to speak to remove or reduce these barriers. “

An ex-resident once said Linda eats glitter every day because she always comes to work with a positive attitude and a smile on her face.”

Linda Jones was nominated for the Employee of the Year Award 2024

Linda says:

Winning the Employee of the Year award meant a great deal to be recognised by the company and my colleagues for the work I’m passionate about. It’s been a motivating milestone in my journey here.”

We recognise that our staff are our most important asset and critical to the success of Sapphire, and their health and wellbeing remains a key priority
Nominations for the Employee of the Year Award 2024

Celebrating Achievements at the Staff Conference

Sapphire threw its annual combined Staff Conference and Christmas celebration on 22 November 2024, bringing everyone together for a day of connection, learning, celebration, and appreciation. The conference was held in Canary Wharf and the event created the perfect setting for colleagues to catch up, reflect, and enjoy each other’s company, strengthening the sense of unity in the organisation.

This was an opportunity to hear from Sapphire’s Chair and Executive Team, covering organisational performance, expectations for the coming months, and the opportunities and challenges that lie ahead.

We were especially pleased to hear from one of our residents, Kevin, founder of Khady’s Dream, an initiative dedicated to youth crime prevention, who shared his journey, inspiring and affecting everyone with their story of transformation and success.

To keep the energy up, there were team-building activities, encouraging collaboration and engagement. Employees also heard about colleagues who had excelled in roles throughout the year and who as a consequence had been nominated for the Employee of the Year Award by their peers, shining a spotlight on those who go above and beyond.

After the conference, everyone sat down for a festive Christmas lunch, soaking up the warm and cheerful atmosphere. The fun kept going at Fairgame in Canary Wharf, an arcade venue where staff enjoyed games, laughter, and some friendly competition.

Long-term service awards

Janice Esten was presented with a long-term service award at the staff conference.

Celebrating 30 years with Sapphire

The day was also a time for recognition, with special long term service awards presented, including to Janice Esten for an incredible 30 years of dedication to Sapphire.

A recognition for all of our colleagues, and a truly impressive milestone!

Overall, it was a fantastic day packed with fun, celebration, and well-earned recognition, highlighting everything Sapphire stands for as an employer.

Staff Satisfaction

How our colleagues are feeling about working for Sapphire is really important to us. We listen to our colleagues and really value their feedback.

Employee Net Promoter score (ENPS)

When asked if they would recommend Sapphire as a good employer, the Employee Net Promoter score (ENPS) was 65, considered in the “excellent” range.

Staff Feedback

“I am supported by a fantastic manager who listens and supports me when needed. We have clear communication, which is super important.”
“I think SIH are a shining star in this field so keep up the good efforts.”
“I often feel very valued in my role, and really love Sapphire!”
“Most people go out of their way to thank me for my efforts.”

Staff Satisfaction Results

For more information place your pointer over the chart.

  • 70% agreed or strongly agreed that they are satisfied with their job.
  • 70% agreed or strongly agreed that they are proud to work for Sapphire.
  • 85% of respondents felt able to suggest ideas or change to drive improvements
  • 80% of respondents agreed or strongly agreed with the statement ‘at Sapphire, I am treated with respect’.

Managing finances and improving ways of working

We want to be a well-run organisation, working to plans, within budget and confident about managing change.

We believe that maintaining our financial viability is our core strength as a smaller provider, we are well positioned to move forward with our plans for the future.

Financial Results 2024/25

Statement Of Comprehensive Income

2024/25 2023/24
£ £
Income
Income from housing 3,727,465 3,88,061
Shared ownership - 1st tranche sales - 132,961
Housing Support Grant 1,065,531 1,016,069
Amortised Grant 71,773 69,300
Other income 21,505 14,286
Total 4,886,273 4,620,676
Expenditure
Housing Services 2,728,347 2,543,608
Support Services 1,240,908 1,282,849
Maintenance 783,178 877,481
Depreciation 355,056 348,822
Cost of Sales 3,600 86,515
Total 5,111,089 5,119,275
Operating (Deficit) (224,816) (489,599)
Interest received 278,839 406,181
Interest payable (3,576) (5,922)
Total comprehensive income for the year 50,447 (148,940)

Download Tables

Statement Of Financial Position

2024/25 2023/24
£ £
Fixed assets 47,097,063 35,819,374
Current assets 2,456,089 11,255,782
Liabilities (current and long term) (9,607,765) (8,408,217)
Net Assets 39,945,387 38,666,939
Share capital 12 11
Social housing and other grants 15,123,309 13,985,309
Free reserves 24, 732,066 24,681,619
Total 39,945,387 38,666,939

Measuring our Performance

Our commitment to resident involvement ensures that their voices are heard and their needs are prioritised.

We want to work with residents to improve their lives by listening to their concerns, needs and aspirations.

Operations Performance

Social Impact Value

Research tells us the average impact value of supporting a homeless vulnerable person into settled accommodation has a social impact value of £8,019.

We achieved 61 applicable moves, which is £489,159 in social value and a drop of 67% compared to last year’s £1,496,768.

Delivering Quality Through Reinvestment

As a not-for-profit organisation, we reinvest all income into improving our homes, supporting our customers, and developing our staff to deliver the highest standards of service.

We are committed to ensuring resident involvement remains central to our work, enabling voices to be heard, needs to be prioritised, and residents to play an active role in shaping their communities.

Our housing team provides vital support to vulnerable tenants, including financial inclusion initiatives and safeguarding measures for those affected by domestic abuse or facing mental health challenges.

In parallel, our care and support teams focus on enhancing the lives of service users by promoting independence, empowerment, and equal access to opportunities.

Social Impact Value

Scheme (Supported Housing Bed Spaces) Number of applicable moves 24/25 Social Impact Value Applicable moves as % of bed spaces
Bethany House - 60 18 £144,342 30%
Conway House - 60 12 £96,228 20%
Townsend House - 18 9 £71,171 50%
Hepburn Court - 12 22 £176,418 183%
Total 61 £488,159 -

Repairs and Maintenance

KPI (Target) 2224/25 No. completed 2024/25 No. completed on time 2024/25 % completed on time
Total Emergency (24 hours - 97.5%) 93 70 75%
Total Urgent (7 days- 97.5%) 101 73 72%
Total Routine (21 days- 90%) 360 278 72.20%

Download Table

Lettings by Age

Lettings by type

Total = 316

Lettings by gender

Lettings 2024/25: Male 41, Female 42, Other 1.

Lettings by ethnicity

General Performance

  2024/25 Target 2023/24 Target Trend
Current Rent Arrears 2.7%   2.1% after HB 3% Up
Void loss 7.64%   5.07% 5% Up
Complaints resolved at stage 1 or stage 2 97.7%   70.58% No Target Up

Download Tables

Health and Safety

Area Satisfactory Check March 25 March 24 Trend
Asbestos 100% 100% No Change
Electric 91% 100% Down
Fire 100% 100% No Change
Gas 100% 100% No Change
Water 87.5% 100% Down
Lift 100% 100% No Change

Providing new homes

Celebrating the opening of Ashford Road development in London Borough of Hounslow.

Governance and Leadership

As a landlord, safety is a top priority for both our staff and the Board. Throughout the year, we conducted compliance checks in all our buildings and took action on any necessary issues that were identified

Sapphire Board

Board members are:

  • Sir Steve Bullock – Chair
  • Charles Culling
  • Liz Geary
  • Gwen Godfrey – Chair of Treasury Committee
  • Kalwant Grewal – Chair of the Finance, Audit and Risk Committee
  • Rosemarie Jenkins
  • Fred Keegan
  • Mike May - Chair of the Development and Assets Committee
  • Sandra Nwajiaku
  • Reginald Parkinson – Chair of the People and Governance Committee
  • Catherine Ryder
  • Clive Stuart

Executive Management Team

Executive Management Team
  • Heather Thomas – Chief Executive
  • John McNiece – Finance Director
  • Assiah Awaleh – Operations Director
  • Karl Phillips – (Consultant) Development Director
  • Beverly Finn – Head of HR and Central Services

Supporters and Partners

We received valued support in 2024-2025 from the London Boroughs of Camden, Islington, Brent, and Hertfordshire County Council. We are also grateful to the following organisations for making significant contributions throughout the year:

Thanks to our Supporters and Partners

  • Abbey Community Centre
  • Action 4 London
  • Accuro Environmental
  • Age UK, Camden
  • Altair
  • Apothecary Centre
  • Bates Wells Braithwaite
  • Brent CLT
  • Bridging the Gap
  • CafA©Art
  • Camden Adult Learning Community
  • Camden Job Hunt – Good Work Camden
  • Camden Roundhouse
  • Camden Routes Off the Streets Team
  • Campbell Tickell
  • Chartered Institute of Housing
  • CLASH
  • Clearing House
  • Crisis Skylight
  • Feast With Us
  • Food Donations Connections
  • g320
  • Gratitude
  • Groundswell
  • Herts Young Homeless
  • Homeless Link
  • HouseProud
  • Jim Dean Consultancy
  • LB of Brent
  • LB of Camden
  • LB of Hounslow
  • LB of Islington
  • Hertfordshire County Council
  • Hertsmere BC
  • Kew Gardens
  • Mind
  • MCS
  • National Housing Federation
  • Recovery College, St Mungo’s
  • Sapphire Community Group
  • Shapes in Motion
  • SHP Camdem Recovery Service and Islington Aftercare
  • Smart Works
  • Sock Drop
  • Solace Women’s Aid
  • South East Consortium (SEC)
  • SPBM
  • Street League
  • The Community Shop
  • The House of St Barnabas
  • The Mary Ward Centre
  • The Maya Centre
  • The Prince’s Trust
  • Training Link Ltd
  • Trussell Trust
  • Westminster Kingsway College
  • Women@thewell
  • Working Chance
  • Working Men’s College
  • Wrap Up London
  • Youth Connextions
  • Ark Build
  • Beacon Partnership
  • BME London Landlords
  • Connex Network
  • Devonshires Solicitors
  • DTP Consultancy
  • Ermine Construction
  • Chartwell Vision
  • Helix Construction
  • Ark Build
  • GLA
  • Helix Construct
  • Housing Diversity Network (HDN)
  • Madlins LLP
  • Pennington Manches Cooper Solicitors
  • Potter Raper Partnership
  • The Housing Executive
  • Utility Aid
  • Andy Sarsby Foundation
  • Fat Macy's
  • Hampstead Wells
  • City Harvest
  • George De Sousa - Art Psychotherapist
  • Focus
  • Get Hooked on Fishing

Location maps

Our homes are located in the London Boroughs of Camden, Islington, Brent, Hounslow and in Hertsmere, with more new homes coming shortly in Hounslow.

Further details can be found at each location on the map below.

Location image

Camden

We have the following homes located within the London Borough of Camden: Conway House, Tara Lodge, Espalier Gardens and Hackett House.

Location image

Islington

Bethany House is located within the London Borough of Islington.

Location image

Brent

St Eugene Court is located within the London Borough of Brent.

Location image

Hounslow

We have a number of homes within the London Borough of Hounslow, with further new homes coming during 2025-2026.

Location image

Hertsmere

Townsend House and Hepburn Court are located within Hertsmere.