Housing Finance
Professionals
Abovo-Consult is an independent company providing business planning advice and sophisticated business plan modelling tools primarily to housing associations, local authorities with housing revenue accounts and local housing and development companies.
"I cannot praise the products enough, nor the consultants. From a finance angle it gives me what I need in order to understand and clearly see whether what is being discussed from a development angle makes sense, delivers a return - and ultimately that the housing group is a profitable and sustainable entity.”
David Watt, Strategic Finance Manager, Oxford City Housing Ltd
The Industry Standard
The Abovo Business Plan Model is the cornerstone of the set of fully integrated business planning tools that has been used by many housing associations across the UK for almost 20 years.
Popular and well known by funding organisations, it is originally known from its roots in stock transfer associations, but is now used by organisations across the sector.
The Abovo Business Plan maintains its heritage, but has been fully redeveloped to meet the regulatory and reporting challenges facing the social housing sector today.
About Us
Find out who we are and how we got here
How we got here
Formed in 2015 by housing finance specialists who have worked together as a team for 16 years.
Our team comprises three partners who have worked together for over eighteen years, together with our trusted associates who have also worked with us for many years.
Consistency, care and quality are embedded in our company.
Our core experience and services
The Abovo suite of business planning tools · Business planning and related financial modelling and advice · Bespoke financial modelling · HousingBrixx support · Housing Revenue Account (HRA) business planning · Development and regeneration appraisal and delivery structuring · Merger and acquisition due diligence · Finance function transformation and business improvement · Strategic options appraisal · Stock rationalisation · Stock transfer valuation and implementation as lead advisers · Interim finance director support
Martyn Watkins CFPA
Widely acknowledged as one of the most experienced housing consultants in the country, Martyn moved from a local government and City background into management consultancy in 1988 and has completed some 40 stock transfers in a lead adviser role.
Angie Marshall-Smith BSc ACA CPFA
Angie is a founder partner and director of Abovo-Consult, providing consultancy and supporting the use of the two major housing business planning tools, including our local authority clients with HRA BP planning using our Fortress BP model for local authorities.
Alex Young BSc
Abovo's technical director, Alex has a first-class degree in mathematics and leads development of Abovo's modelling tools. Alex is a founding director, providing business plan and development support to over 50 of the largest housing associations in the UK.
Our Partner Organisations
Our Associates
Alan Lewis
Alan provides Abovo and our clients with extensive support on our system and is a rent-modelling specialist.
Jon Wortley
Jon is a development expert who helps Abovo with interface and modelling development.
Martyn Durant
Martyn has a strong background in Social Housing and EFQM Business Excellence. He has worked for over 30 years with a large housing association and also carries out Repairs and Maintenance Reviews.
Nigel Johnston
Nigel works with the Northern Housing consortium and carries out repairs and maintenance reviews as well as other Landlord and Housing Management Services.
Abdul Ravat
Abdul has 30 years' experience in Housing and Regeneration and provides performance and risk-management support for Boards.
Steve Fox
Steve is formally a Senior Registration Officer with the Social Housing Regulator. He now provides Governance and Registered Provider application support.
Get in touch
Interested in our products or services? Have a query or need some advice?
Get in touch here....
Registered Office and General Enquiries
Elmwood House
70, Cadman Road. Bridlington
E. Yorkshire YO16 6YX
Suppliers and customers:
accounts@abovo-consult.co.uk
Sales and admin:
admin@abovo-consult.co.uk
Partners
Angie Marshall-Smith
Martyn Watkins
Alex Young
Our models
Sophisticated business planning tools and consultancy support for Housing Associations, Local Authorities and charitable organisations.
The Abovo HA Business Plan
Our team of specialist financial modellers continue to develop and maintain the social housing industry-standard Excel-based Abovo business plan model.
The business plan model is the cornerstone of the set of fully integrated business planning tools that has been used by many housing associations across the UK for almost 20 years.
Popular and well known by funding organisations, it is originally known from its roots in stock transfer associations, but is now used by organisations across the sector. The Abovo Business Plan maintains its heritage, but has been fully redeveloped to meet the regulatory and reporting challenges facing the social housing sector today.
Feature List
Excel-based - non-software reliant • Clear audit trail of input to output workings • Auto-population of FFR with interface to NROSH+ with pre-submission validation reporting • Accepted by Welsh Government - FFR for Welsh Regulator • 40 year accounts and cashflow projections • Multi-variable, multi-scenario stress testing dashboard and charts - enhanced to include multi-period options • Snap shot recording of scenario test outputs • Caters for group structures with consolidated model option • Stress testing at consolidated level as well as subsidiary level • Funding dashboard - produce graphs and charts for funders • Value for Money Metrics - measures from the BP • Accepts multiple revolver funding plus an overdraft option • Calculates interest and funding payments to the day • Inter-company funding options - loans & investments • Joint Venture transaction recording • Scenario test changes of tenure type easily • Model short-term contractual income for care & support • Accepted by funders and treasury advisers • Integrates directly with sub-models to avoid replication errors • Version history tracker - monitor changes in key outputs • Development import - import in progress development from client worksheets. • Live stress testing scenarios with separate mitigation table - shows the stress and the solution • The New Shared Ownership Model - assumptions to allow planning under this scheme • A choice to apply CPI or RPI to most economic assumptions • Pension deficit payments included in SOCI • See intercompany loans and investments separately • Corporation Tax - allowing variable rates and bands for future • Improved speed and size of the file.
Abovo Fortress LA Business Plan
Fortress - the forecasting and stress-testing HRA Business Plan provides local authorities with robust and compliant business plan results and the ability to overlay scenarios and test sensitivity to change
Our business plan model is the cornerstone of the set of fully integrated business planning tools that has been used by many housing associations across the UK for almost 20 years. We now bring the functionality and features of this model to local authorities with Housing Revenue Accounts.
Feature List
Extensive ability to input data at granular level. • Designed using the easy and flexibility of our HA business plan models but encompassing local authority housing finance rules • Integrates with Development Appraisal and Rent Model tools for quick upload without duplication error • Increased budget flexibility with annual profiling of income and expenditure • Direct retained RTB receipts to specific schemes • Incorporating our unique dashboard multi-variable, multi-scenario stress-testing functionality • User defined or standard target measures • User friendly output reporting - including HRA statement multi-year forecasts • Produced in conjunction with LA clients • Manages borrowing freedoms without debt cap limits • HRA business plan support available from experienced advisers • Design and build service for BP planning • Training provided
Abovo Evolve DSA
Building on the success of our Multi-Variate Stress-Testing Abovo Business Plan Model for housing organisations, we are proud to present the latest upgrade in our suite of business planning tools - Evolve DSA model.
Evolve DSA is a development scheme appraisal tool designed to be used either:
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as a stand-alone model incorporating our highly-regarded "live" stress-testing facility with dashboard output; or
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in conjunction with our industry-standard business plan to automatically integrate assumptions, cashflows and accounting reports
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Can also be used to upload appraisals to project management systems.
We also have options for dual output facilities for Joint Venture sales and HA partner rentals saving time duplicating appraisals.
Feature List
Used by HA's, local authorities and LA development companies • Excel-based - non-software reliant • Unrestricted use within an organisation • Bespoke scheme performance indicator reporting in dashboard format • Live multi-variable, multi-scenario stress testing facilities • Multi-tenure appraisals • NPV, IRR and Loan Repayment results by unit type and tenure for better unit performance measurement • Scheme cashflows by tenure type and unit type • Auto upload to Abovo Business Plan to avoid replication errors • Input scheme data in high level or with detailed profiling • Fully accounts for the Welsh Blended Grant • Track changes through version history and output recording • Actual cost variation record • Provides 40 year accounts and cashflow forecasts - first 7 years with monthly reporting • Password protect key assumptions approved for appraisal • Clear audit trail of inputs to outputs - includes switch to finance mode with additional detailed workings sheets • Bespoke funding version available for local authority PWLB funded organisations • Commercial output version available • New Shared Ownership Model capability • New - improved tenure switching, more Key Dates for triggering activity, greater flexibility on sales unit assumptions
Abovo Rent Model
Abovo-Consult has been modelling social housing rents from Rent Restructuring guidance for many years. For most housing associations formula rent targets will have been achieved, for many local authorities there is still a gap which can be eliminated on re-let.
With greater emphasis on maximising rental income from a range of tenure types, the Abovo Rent Model has been refreshed and updated to allow full analysis and rent planning across all property types. Still providing that integrated update for both the Abovo BP Model for HA's and Fortress HRA BP for Councils, it also provides populated templates for LADR returns.
Select sub-sets of properties to analyse rents and provide reports and forecasting over 30 years.
Feature List
Traditional social rent restructuring with formula and target rent calculations • Test the use of flexibility for GN and supported housing • Multiple other tenure rent setting and reporting • 30 year forecast of actual and target rents per property • Analysis of results across separate tenure types • Analysis of rent for selected data sets • Average rent results reported plus variances around tolerance • Produces user specified summary inputs for Abovo Business Plan • Direct upload to Abovo Business Plan to avoid error and duplication • Bespoke client analysis types can be accommodated • Excel based • No additional licence required • Abovo support to populate and maintain model • Provides output report for NROSH+ for local authority LADR from 2020 onwards • Welsh rent design available
SONIA Model
The final deadline for the transition from LIBOR to SONIA was 31 December 2021, the Bank of England and the Financial Conduct Authority encouraged everyone to start the transition sooner rather than later. All variable rate loans will be affected.
SONIA is published by the Bank of England every day but daily-compounding-in-arrears is tricky without a special calculator.
Abovo-Consult and 2TIX Ltd have, together, developed a unique Compounded SONIA Portfolio Calculator to help you manage the transition. We have launched a Beta version of the Portfolio Calculator and a demo version of a simple single loan transaction. Both versions will accurately calculate Compounded SONIA interest payable for a single loan; the fully versatile stand-alone version allows the user to calculate multiple loans at the same time and offers much more control over the input variables.
The Compounded SONIA Portfolio Calculator will accurately work out accrued interest, even when an accounting period ends on a weekend or a bank holiday.
Feature List
The Compounded SONIA Portfolio Calculator is designed to help you manage the transition from LIBOR to SONIA. It incorporates maximum flexibility and allows you to do the following:
Check SONIA interest payable before it is due to be paid • Accurately calculate accrued interest taking into account weekends and bank holidays • Switch between London Banking Days (for loan interest) and accrual accounting • Calculate multiple loans at the same time and print the results • Save multiple versions, either individually or as a group • It includes all historic and current SONIA data • You can update the SONIA interest rate data manually or automatically • Link, copy and paste the results into other documents / spreadsheets; • Allow for multiple Lag Dates, Margins, Interest Periods, and adjustment spread • Calculate any duration interest period • Check historic SONIA accounting periods and historic SONIA interest periods and • Compatible with the proposed Bank of England Compounded Sonia Index
The Beta version of the Compounded SONIA Portfolio Calculator is available FREE to existing clients of Abovo-consult and 2TIX Ltd on a non distributable basis.
Non-clients can purchase a copy for a one-off payment.
News
The Latest from Abovo
Services
Abovo provide a range of consultancy services alongside or
independent of our modelling tools
Abovo Business Planning Service
Fully inclusive of our highly regarded and recently enhanced Multi-Variate, Multi-Scenario Stress-Testing facilities with graphical and dashboard outputs, our suite of Excel- based business planning tools provide the capability for real-time stress-testing presentations to Boards.Truly sophisticated but easy to use tools which can be individually bespoked to suit your organisation.
All of our work is carried out in-house by our experienced social housing and financial modelling teams.
Our models are accepted by funders, Homes England and Welsh Government and comply with all regulatory requirements and financial standards.
But we don't just supply the modelling tools - we provide training, annual helpline assistance and dedicated on-site support. Helping to fill resource gaps and empower your team in terms of business planning.
We are also part of the HousingBrixx Partner Program and licenced to provide support and training services tousers of that software.
Our suite of business
planning tools includes:
• A 40 year forecasting model
• A development scheme appraisal tool (available with local specific social rent calculator)
• Consolidated business plan model for multi-company organisations
• Our latest rent calculation and analysis model for multi-tenure rent setting
• A detailed management cost building tool
Strategic Finance Consultancy
From merger due diligence to board management information reporting; from business plan health checks to development appraisal, we can bring expert assistance to support you and your organisation in meeting its strategic objectives. An external view of the organisation can help identify and manage risk and provide a level of reassurance.
With over 30 years' experience in the social housing sector, the Abovo-Consult team have worked on a many and diverse project. Each person has their own unique experiences, just as each project has its own nuances.
Our directors are very much hands-on and have been at the forefront of developing new approaches and new policy in social housing working with Government and regulatory agencies. We also have the skills and talents of a number of associate consultants with specific housing skills should the need arise.
Merger Due Diligence
Review and stress-testing of partner business plans • Replication of partner business plans from HousingBrixx, or in-house BP's into Abovo and vice-versa • Analysis and commentary on key assumptions • Treasury and funding implications and opportunities • Dashboard and RAG reporting for Boards • Indicative post-merger combined plans
Investment Appraisal
Viability testing for complex development and regeneration initiatives • Mixed tenure and multi-partner schemes • Sector-leading financial modelling tools • Integrated business plan impact evaluation • Multi-scenario and options analysis
Financial Reporting
Chart of accounts review • Management accounts review • Meaningful Board reporting - what's really needed, when it's needed, presented clearly • Effective asset management and finance system interfacing • Avoiding errors and duplication from reliance on offline spreadsheets
Housing Stock Options
Whether you are a local authority with development ambitions or needing HRA business planning advice, or a housing association looking to increase or rationalise its portfolio, our experienced team of housing finance specialists can help.
Our team of partners are leaders in the sector in developing methodologies, working with Government departments and delivering major stock options and transfer projects. From the very beginning of stock transfer over 25 years ago, all the way to the present-day search for new and innovative solutions working with and without Government support, addressing the shortage of housing - we continue to be at the forefront.
Stock Options Appraisal
Is there a better way you ask? Maybe there is or maybe you just want to be certain at points along the way that all of your housing stock is delivering best value. Local authorities considering a change in the way their stock is managed or housing associations looking to grow or rationalise stock will need to consider the options available.
We bring our experience of over 140 option appraisals to your decision maklng process. We have the business planning tools, commercial business acumen, skills and patience to work through any number of options to help you decide how to make your next move.
Abovo can provide
Scenario analysis and stress-testing of results • Interpretation of HRA forecasts • On site support for housing or finance staff • Assistance with Committee report writing • Member, tenant and employee training in understanding the impact on the HRA of decision-making • Facilitation of Steering Groups • Rent modelling and calculation • Development appraisal • RTB modelling - now with NROSH+ reporting for the LADR • Stock options appraisal
Self-financing seemed to promise simplicity but how different it turned out to be. Since 2012, ambitions, if not downright pressures for local authorities to develop hew housing again were challenged by revisions to Government policy including the uncertainties and risks of Welfare Reform, four years of rent reductions, the challenge of selling off "high value voids" and potentially being required to pay a levy, complex RTB regimes and restrictions on borrowing and use of grant. During this period of limited and uncertain future resources, increasing liabilities and a fixed debt cap, many local authorities adopted the principles of business planning for their HRA using a variety of spreadsheet models.
Now, with the removal of the debt cap, more freedom for local authorities to borrow and a drive for councils to deliver a full scale programme of new social housing, the use of a robust, flexible and intelligible long term HRA business plan is a must! Abovo's Fortress HRA Business Plan Model is that tool. More specifically, Abovo provides a full suite of business planning tools including development appraisal, rent setting (including NROSH+ reporting for 2022) and management cost profiling to eveluate and support the inputs to the plan.
As CIPFA qualified local authority and housing finance practioners for many years, we understand the challenges. Let us provide the hlep and guidance that our wide experience brings to balance your HRA and explore opportunities for development of LA housing.
We also now have LA development companies, ALMO's and LA housing companies using our HA business planning tools and development appraisal tools. No company is too small - affordable planning tools providing Board Members with an understanding of the overall business finances and individual schemes.
We offer
Helpdesk support by email and phone • Supplementary training - new staff and refresher / booster training for existing users • Free annual BP health check - independent check on model structure and inputs • Bespoke reports to replicate covenant calculations • On site support if required • Detailed health checks on Brixx plans with formal report provided • Help with complex structures • Bespoke stress-testing reports • Assistance with FFR submission, including clearing of "hard" data validations and understanding of "soft" errors • Building Brixx plans from budget files and source data • Replication of plans from other BP model solutions • Provision of combined merger plans (using different modelling solutions)
HOUSING BRIXX Support
Abovo-Consult is a member of the MRI HousingBrixx Partner Program and provides consultancy support for the HousingBrixx RSL Solution.
Our team are HousingBrixx licenced and trained to provide key support services. We can provide help on an ad-hoc basis at day rates, however for piece of mind, our clients usually prefer to join our annual fixed price support retainer contract.
Our flexible service provides the reassurance that help is always on hand together with the comfort of an annual high level review.
Available either on an annual, or a 3-year basis a HousingBrixx support contract can be combined with stand alone Abovo-Consult appraisal and budgeting tools (ask about discounts for multi-model retainers).
HousingBrixx software and future updates are purchased from MRI but we are happy to liaise with them on your behalf.
Please note that there are various versions/ platforms for HousingBrixx available and information from MRI changes frequently. As a Partner of HousingBrixx, we regularly review the updates, so please ask us if you are considering using HousingBrixx.
Testimonials
Our clients are our best salesforce
“I have worked extensively with Abovo consultants and the Fortress Business Model for the last two years. The model is an exceptional and intuitive planning tool, which has been thoughtfully designed. It is easy to navigate and agile, allowing users to create detailed forecasts with ease. The model accommodates various financial scenarios, providing real time, easy to interpret outputs and at a glance dashboard.
The Abovo Consult team are exceptional - they have a real and practical understanding of business needs and a wealth of experience.
Abovo has become a trusted partner who can offer constructive advice, challenge and options. Our lead consultant has worked above and beyond to meet short notice deadlines without compromising quality. This gives their service a refreshing ‘personal touch’ and a real feeling that ‘we are in this together.’ “
Theresa Channell,
Service Director Finance, Chesterfield Borough Council
© Abovo Business Services Ltd 2024
Registered in England No. 09741430 • Registered office Elmwood House, 70 Cadman Road, Bridlington, East Yorkshire, YO16 6YZ • VAT Reg no. 224 1833 33