The Calico Group are an innovative collection of businesses and charities working together to make social profit, rather than financial profit, the driving force behind their wide range of high quality services. They define social profit as the positive difference they make to people’s lives, across all the communities in which they work. Calico create social profit by developing innovative services, and harnessing the opportunities of their unique group structure.
The Calico Group difference is according to Calico; bringing different parts of their group together for maximum social impact, creating innovative, new opportunities for the benefit of the community, harnessing the strengths of their unique group structure, bringing together the widest possible range of expertise, succeeding within private and public markets by delivering cost-effective, sustainable services, with profits returning to the communities they serve.
The Calico Group is made up of the following companies Calico Homes Limited owns and manages approximately 4,600 homes providing accommodation for families and older people, plus student housing, supported housing and services for homeless people. Calico Enterprise Limited works with a host of organisations across the North West to provide housing-related support; tackle worklessness; and give information and advice. SafeNet (formerly ELWRA) provides services across Lancashire for victims of domestic violence and abuse. Acorn Recovery Projects provide a range of innovative drug and alcohol rehabilitation services across the North West. Whitworth Care Trust is a charity which provides residential care, day services, luncheon clubs and meals on wheels. Ring Stones Maintenance and Construction LLP undertakes maintenance and house building contracts on a commercial basis for a variety of clients across the North West.
RSH Narrative Regulatory Judgement
Provider: Calico Homes Limited
Regulatory code: L4254
Publication date: 15 November 2022
Governance grade: G1
Viability grade: V2
Reason for publication: Viability regrade
Regulatory route: Stability Check and Reactive Engagement
Regulatory judgement
This regulatory judgement regrades Calico Homes Limited’s financial viability from V1 to V2 and confirms its existing G1 grade for governance.
The regulator has assurance that Calico Homes Limited (Calico) continues to comply with the financial viability elements of the Governance and Financial Viability Standard. Calico has an adequately funded business plan, sufficient security in place and is forecast to continue to meet its financial covenants under a reasonable range of scenarios.
Calico is investing significantly in its existing homes, including an accelerated programme to improve energy efficiency. This investment reduces interest cover, and coupled with the economic uncertainty in relation to inflation and interest rates means that Calico’s capacity to respond to adverse events is reduced.
The regulator’s assessment of Calico’s compliance with the governance elements of the Governance and Financial Viability Standard remains unchanged. On the basis of the Stability Check, the regulator has concluded that there is no evidence to indicate a change to Calico’s current governance grading.
Housing Ombudsman
Calico Homes Limited (202009798)
The complaint is about the landlord’s response to the resident’s reports about the rent arrears that accrued whilst in occupation at the property.