Gimmicky, no hard financial data and too much jargon – annual reports have come in for a lot of stick lately. So how do you get them right? Victoria Madine asked a tenant, an accountant and a marketing expert for their verdict on five of the latest crop

Tung Sing Housing Association

what it does
A specialist Chinese association that manages 500 or so homes across Greater Manchester and is based in the city’s Chinatown.

what the report’s like
Modelled on a Chinese fortune cookie, the report is inside a circular swirl of red and gold paper with a dragon design on the front. It unfolds to reveal 10 pages of information with no photos. Named best annual report by the Federation of Black Housing Organisations.

Cost
£3500 for 1000 copies

What it’s trying to do
Jacqui Fendall, head of finance and administration, says: “We wanted to reflect the Chinese character of the group and encourage tenants and stakeholders to read through the information.”

- What the panel thinks -

The tenant
Michael Gelling, chair of the Tenants’ and Residents’ Association of England, says: “It’s an unusual, unique presentation but not very user-friendly. I’d imagine it would be difficult for elderly or disabled people to get into. But it’s easy to understand. I was pleased to read that the community, working life and tenants are the main planks of the organisation.”

The marketing expert
Graham Bailey, a board member of the Chartered Institute of Marketing and a marketing consultant, says: “I was intrigued by the design – it’s great – and I liked the colours. No doubt the approach went down well with tenants. But inside, the information was plain, cold black type, so it’s not very exciting. Some photos would have been nice.”

The accountant
Mary Lou Wedderburn, consultant technical manager and a member of the Institute of Chartered Accountants’ social housing committee, says:“A very clear financial review. A simple narrative, with figures in bold type, well linked to numbers on the income and expenditure account and balance sheet. But there was a lack of comparative figures.”

Enterprise 5 Housing Association

What it does
Based in Newcastle. Manages 2000 properties in the North-east, specialising in care homes and supported housing.

what the report’s like
An 18-page report shaped rather like a large cheque book and with a D-shaped cut-out section inside summarising the information in the larger pages. Colour photos throughout.

Cost
£12,300 for 2000 copies

What it’s trying to do
Chief executive Keith Loraine says: “We try to do something slightly different to capture tenants’ and stakeholders’ attention. Most readers of annual reports are likely to spend less than 10 minutes scanning them.”

- what the panel thinks -

The tenant
“It’s a different way of presenting a document and would make me pick it up. But the inside is too busy; I didn’t want to read it to the end because the colouring made some pages off-putting and difficult to read. I think it went a little over the top – who really wants to know about gearing and liquidity?”

The marketing expert
“My first impression was, ‘this looks different and interesting’. My second impression was, ‘how exactly should this work?’ The inner book is colour-coded to tie in with the main book but the link isn’t strong enough. The photos are presented very well, though: one is designed to look as though it’s on a mantelpiece in a home, and I like the use of vegetables to illustrate the financial information. It all has a friendly feel.”

The accountant
“The first section was difficult to read because it was printed on quite a strong colour. But the main financial and operating information was much more clearly printed. I really liked the ‘non-accounting guide’ explaining the figures and the ‘veg’ illustrations of gearing, liquidity and net interest cover ratios were fun.”

Horizon Housing Group

what it does
Operates 15,000 homes across the South-east with several major estate regeneration schemes.

what the report’s like
A white paper wrapping showing the slogan “stronger together” folds out to reveal four 20-page booklets covering the group and its partner members, and a CD-ROM of tenants and staff talking about the group’s work.

Cost
£50,200 including postage for 9000 reports

What it’s trying to do
Marketing and communications officer Laura Wilson says: “Our aim was to make the report accessible to a wide audience of tenants and stakeholders – something that differentiated our business and showed our commitment to continuously improving services.”

- what the panel thinks -

The tenant
“You know when you pick this up that you will need a little time on your hands to read it all. That may be off-putting to busy people, especially the idea of using a CD. I’d say the documents are easy to read and follow, and well broken up with mainly appropriate photographs. There’s lots of information. However, it identifies board members but not whether they are a tenant or not.”

The marketing expert
“There are lots of photos of tenants from different ethnic backgrounds, which demonstrates how highly the group must value the promotion of diversity. The booklets are well ordered and contain plenty of facts and figures, such as the level of rents. There are lots of quotes from tenants and the overall feel is that this is an organisation that cares for its people.”

The accountant
“The separate booklets and CD-ROM were a good idea but not easy to handle on a train. The accounts presentation was routine, with no narrative to back up or relate to the figures: there was no comment on the change in profitability between this and previous years.”

Circle 33 Housing Group

what it does
Manages more than 20,000 properties in London and the South-east. Low-cost homeownership is among its key activities.

what the report’s like
The 18-page overall group report follows an A4, magazine-style format and each double page spread contains colour photos of either tenants or employees.

Cost
£9400 for 11,000 copies of this report but the group produces eight in total at a cost of £49,000

What it’s trying to do
Public relations and communications manager Claire Howe says: “The report is targeted at the group’s private and public sector stakeholders so the prime aim was to convey the group’s key mission, to provide quality homes and quality services to our tenants.”

- what the panel thinks -

The tenant
“I particularly like the map showing the geographical areas the organisation works in, and the way the summary information is in a different colour. The logo is well publicised, so you know what you are picking up. But I’m disappointed it goes to the trouble to mention all its board but doesn’t say what background they’re from, such as if they’re tenants.”

The marketing expert
“A well-produced report; clear, concise and easy to read because the text is spaced out and in manageable chunks. There are plenty of bright, pleasant photos. The pie charts giving a breakdown of tenants’ and employees’ ethnic backgrounds were interesting and backed up the group’s claim that it is inclusive. But a stronger link needed to be made between the images and text.”

The accountant
“Well laid out, succinct and comprehensive. But the five-year financial highlights for principal figures raises a few questions, such as how an operating surplus of £14m in the current year becomes £4m after tax. There’s a brief narrative on the facing page, which is quite useful.”

Sentinel Housing Group

what it does
Based in North Hampshire; manages 6500 homes.

what the report’s like
A standard 24-page book format with colour photos throughout

Cost
£7780 for 7000 copies

What it’s trying to do
Corporate communications manager Ben Giles says: “The aim was to produce a corporate-style brochure that would appeal to its readers and highlight the quality of our services.”

- what the panel thinks -

The tenant
“It’s got an attractive front cover that would make me pick the report up. It’s very easy to read and the words are appropriately broken up with pictures. There are lots of different people photographed, so not too many suits. The information is good and well-balanced and, importantly, took the time to identify board members and their backgrounds.”

The marketing expert
“The photos are good but the report is text-heavy and the type is very small and hard to read. It’s a strange juxtaposition because the photos are so lively. The images also needed to tie in more with the words; the message the book is trying to convey is
not clear.”

The accountant
“It includes a financial review with comparatives for previous years and is the only report I saw to analyse income and expenditure headings and the only one to include a cash flow. As an accountant, I found the accounting information the best at the time, but the lack of narrative link or explanation might make it less accessible for lay users.”

Source

Housing Today