YMCA THAMES GATEWAY GROUP STATEMENT ON INCLUSION IN THE REGULATOR OF SOCIAL HOUSING’S GRADINGS UNDER REVIEW LIST

YMCA Thames Gateway Group confirms it has been included on the Regulator of Social Housing’s (RSH) Gradings Under Review list. As a small registered provider managing fewer than 1,000 homes, YMCA Thames Gateway Group is not subject to a regulatory grading. Inclusion on the Gradings Under Review list reflects the RSH’s ongoing engagement with the charity and does not indicate any change in regulatory status or judgement.

Inclusion relates to:

• the late submission of the group’s 2022/23 audited accounts, during a period in which an operating deficit was also reported
• a limited number of properties – approximately 25 out of 400 bedrooms – identified as potentially not meeting the Decent Homes Standard at that time.

Since this engagement began, YMCA Thames Gateway Group has been working closely and transparently with the Regulator. The Group provides weekly updates to the RSH, covering:

• the organisation’s financial turnaround plan and performance
• the return to a normalised audited accounting cycle
• progress against all of the Regulator’s standards, including governance, financial management and service delivery.

YMCA Thames Gateway Group remains focused on strengthening its financial resilience, improving performance and meeting all regulatory expectations. Services for residents continue to operate as normal. The Group welcomes the Regulator’s engagement and is committed to demonstrating the effectiveness of the actions being taken. Further updates will be provided once the RSH has concluded its review.

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