4 Oct 2017 15:39
Welsh Government
Housing Regulation
Regulatory Judgement
Pennaf Group - J136
September 2017
The Welsh Ministers have powers under Part 1 of the Housing Act 1996 to regulate Registered Social Landlords in relation to the provision of housing and matters relating to governance and financial management.
The Welsh Ministers are publishing this Regulatory Judgement under sections 33A and 35 of the Housing Act 1996.
The judgement is published in accordance with the Regulatory Framework for Registered Social Landlords in Wales and the related performance standards.
http://gov.wales/topics/housing-and-regeneration/services-and-support/regulation/regulatory-framework/?lang=en
The judgement is based upon the Association's own evaluation of its compliance with the performance standards together with regulatory intelligence gained through on-going, co-regulatory, relationship management between the Regulator and the Association.
Basis of Judgement
This judgement is designed to provide the Registered Social Landlord, its tenants, service users and other stakeholders with an understanding of its financial viability and how well it is performing, at a specific moment in time, in relation to:
· Governance and Service Delivery
· Financial Management
The judgement must not be relied upon by any other party for any other purpose. The Registered Social Landlord is responsible for the completeness and accuracy of information provided to the Regulator.
Housing Regulation Team
RSL Sector Development and Regulation Division
Welsh Government
Merthyr Tydfil Office
Rhydycar
CF48 1UZ
e-mail: housingregulation@wales.gsi.gov.uk
Digital ISBN 978-1-78859-062-4
Crown Copyright 2017
Profile
The Group consists of Pennaf Limited, the parent company, with subsidiary members: Clwyd Alyn Housing Association Limited, Tŷ Glas Housing Society Limited, Offa Limited, Tir Tai Limited, PenAlyn Limited, PenElwy Limited and PenArian Housing Finance PLC.
The Group's Registered Social Landlords are:
· Pennaf Limited, which provides corporate management services to the Group. · Clwyd Alyn Housing Association Limited, providing 5,052 homes including general needs, Low Cost Home Ownership and supported housing places. · Tŷ Glas Housing Society Limited provides 273 homes and operates an advice, adaptions and repairs service.
Pennaf Limited is a not for profit company limited by guarantee. Clwyd Alyn Housing Association Limited and Tŷ Glas Housing Society Limited are registered under the Co-operative and Community Benefit Societies Act 2014 and have charitable rules.
Tir Tai Limited is a company limited by guarantee and provides development services to other parts of the Group.
Offa Limited is a company limited by guarantee to undertake any non-charitable work in the Group. With effect from 1 October 2016 it has not been active.
PenArian Housing Finance PLC is a special purpose vehicle set up to administer bond finance to the group.
PenAlyn Limited and PenElwy Limited are companies limited by share with Pennaf Limited as the only shareholder. PenAlyn Limited was set up to provide maintenance services to other Group members. This service was transferred to Clwyd Alyn on 1 October 2016 and the Group is now considering options for PenAlyn.
The majority of the Group's activity arises from 3,905 general needs homes, 249 extra care apartments, and 631 supported housing, residential and nursing home places. They also provide 540 properties through Low Cost Home Ownership. The Group is active in six Local Authority areas in north Wales.
Pennaf Limited has built 3 new general needs homes, refurbished 11 existing homes as part of the Rhyl Regeneration scheme, and handed over the final 26 units at Chirk Court Nursing Homes during 2016/17. The group is committed to building 114 additional homes by 2018.
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Regulatory Judgement - Co-Regulation Status
Penarian H.f 52 (71HO)