Teesside Housing Group Faces Questions Over £9.5m Housebuilding Deficit...

Teesside Housing Giant Thirteen Housing Groups Tenants Set Widely Expected to Shoulder Losses, Equivalent to £271 Per Home, After Housebuilder Deficit is Exposed...

15th May 2026

Tenants renting with Teesside Private Housing Giant Thirteen Housing Group could be left asking difficult questions, after accounts for one of its housebuilding subsidiaries revealed an eye-watering shareholder deficit of more than £9.5 million pounds — equivalent to around £271 for every home Thirteen owns.

Annual accounts filed for now insolvent company Gus Robinson Developments Limited, a company connected to Thirteen Housing Group, show the housebuilder recorded a profit and loss account deficit of £9,606,754 as of the 31 March 2025. Its claimed that once share capital is included, the company’s total shareholder deficit stands at £9,566,354, all of which will have to be absorbed by its parent company after being forced to sign a declaration of solvency to appease its creditors.

While the latest accounts show the company made a profit of £187,248 in the year to March 2025, this followed a much larger losses of £2,141,947 in the previous financial year. The accounts also show that the company remained heavily saddled with debt, with amounts owed to group undertakings of £8,708,143 and total creditors due within one year of just over £10 million pounds...

According to the Regulator of Social Housing’s 2025 judgement, Thirteen owns 35,288 homes, mainly across the North East and Yorkshire. On that basis, its claimed the £9.56 million shareholder deficit would equate to approximately £271 for every Thirteen-owned home. 

The figures don't mean that tenants will receive a direct bill, nor is there evidence from the accounts that rents are being individually increased specifically to cover Gus Robinson Developments’ losses. However, the calculation gives a clear indication of the scale of the subsidiary’s historic losses when spread across Thirteen’s entire housing stock.

The accounts state that Thirteen Housing Group’s board had previously approved a decision to wind down the company. They also state that the company is not considered to be a going concern and that, once outstanding projects are completed, it is expected to be wound up.

The concern for tenants is likely to centre on how losses within a group-owned housebuilding operation are ultimately absorbed. So called 'Housing associations' rely heavily on rental income, public funding, borrowing and asset management to deliver repairs, maintenance and new housing. Where a subsidiary carries millions of pounds in historic losses or group debt, tenants may reasonably ask whether this affects wider financial priorities, investment decisions or value for money.

The issue is particularly sensitive given Thirteen’s wider financial position. Its own 2024/25 annual report says the group owns and manages more than 36,000 homes and provides services to around 100,000 customers, however controversially failed to pay a single penny in UK Corporation Taxes, depriving the Treasury of much needed finance to provide essential public services.

The Teesside & Durham Post calculates that, based on the regulator’s figure of 35,288 homes, the company’s £9.56 million shareholder deficit is equivalent to around £271 per property. That figures not a tenant charge, but a stark way of showing the scale of the losses attached to a group-owned housebuilding operation, with calls for its parent company to be brought 'back into the real world' & its business ventures subject to 'real world' Corporation Taxes.