Objectives and activities
WCH was formed for the benefit of the community. It aims to create high quality sustainable homes which complement the local community and encourage thriving neighbourhoods.
Its objectives are to carry out for the benefit of the community:
• the provision of affordable housing for people who have housing need and provide appropriate associated facilities and amenities
• any other charitable object that can be carried out from time to time by a Co-operative and Community Benefit Society.
In order to achieve its objectives WCH works with Westminster City Council (WCC) to increase the provision of affordable housing and other related activities which assist in the delivery of the City Council's strategic housing objectives.
WCH, like all Co-operative and Community Benefit Societies, is a 'not for profit' body, where the shareholders' derive no financial benefit and their rights are significantly less than in ordinary companies.
All key strategic decisions are made by WCH Board. The three shareholders of WCH are:
• Westminster City Council (WCC)
The key influence and future direction of the company is provided through the Board. The full Board numbers and composition comprises of 6 Westminster City Council nominees.
WCH Board have reviewed governance in line with NHF Code of Governance (2020)
Risk Appetite Statement:
The WCH Board has a register of corporate risks, which it reviews on a regular basis. Each risk in the register is assessed for the severity it poses (score 1-5), and the likelihood of it materialising (score 1-5). Each score is multiplied together to indicate if the risk is high, medium or low (score 25 being the highest risk). The Board shall periodically set an appetite score for each risk. Risks scoring higher than the appetite score will managed, treated, or mitigated, until it falls below the appetite score. Risks scoring below the appetite score will be monitored.