DETAILED INFORMATION
Valid from 28 September 2009.
Every flat owner at Laurel Manor owns one Ordinary Share in Laurel Manor (No 1) Limited for Flats 41-68 or Laurel Manor Management (No 2) Limited for Flats 1-40 and is a Director of the relevant company. Under the terms of all Laurel Manor Leases the two companies are jointly responsible for the management of Laurel Manor in all respects except the arrangement of buildings insurance (at the cost of Leaseholders), which remained the responsibility of the Freeholder, Proudale Limited.
However, with effect from 28 September 2009 a new company, Laurel Manor RTMC Company Limited ("RTMC"), assumed full responsibility under the Commonhold and Leasehold Reform Act 2002 for the management, including buildings insurance, of the development of the 68 flats and 68 garages known as Laurel Manor. The Directors of RTMC retain formal control but until further notice have for a number of practical reasons delegated the day to day management responsibility back to Laurel Manor Management through the joint Committee thereof.
The eight Directors of RTMC are the same individuals as the members of the joint Laurel Management Committee elected at the AGM of Laurel Manor Management (No 1)/(No 2) Limited in June 2009.
1. Service Charge to 28 September 2010 excluding buildings insurance. This is reviewed at the AGM (approx. June)
Estimated Expenditure and Provision for Liabilities
| Cleaning and Gardening | 8,500 | regular cleaning and gardening |
| Electricity and Water | 2,000 | lobbies, access road, garage area, water standpipe |
| Bin maintenance | 800 | |
| Audit and Accountancy, insurance etc. | 2,400 | |
| Provision for External Decoration | 3,000 | done in 2007 - next due 2010 (every 3 years as per Lease) |
| Provision for Internal Decoration | 2,500 | done in 2006 - next due 2011 (every 5 years as per Lease) |
| Provision for Carpeting Replacement | 1,000 | |
| Provision for re-roofing | 10,000 | planned as per survey report recommendations |
| Provision for re-pointing/cladding | 5,000 | |
| Provision for garage repairs | 1,000 | |
| Provision for driveway repairs | 1,000 | |
| Repairs/Renewals/Enhancements | 1,600 | as necessary or considered beneficial |
| General provision | 2,000 | to bring existing reserves to desired level |
| Total Annual service charge | 40,800 | apportioned equally between the 68 flats |
| 2009/2010 Annual Charge to Lessee | 600 | by 2 instalments due 29 September& 25 March |
| NB: The cost of buildings insurance will be recovered from the Lessees separately each September |
A Reserve Fund is maintained for future expenditure (decorations, roofing, carpeting) as can be seen in the Accounts. No additional charge for the current year has previously arisen or is anticipated. Details for the previous five years are:- 2008/09 - £600; 2007/08 - £580; 2006/07 - £550; 2005/6 - £530; 2004/05 - £500;
2. Enquiries regarding Deeds of Covenant, lease extensions, licences to alter and notices of transfer should be directed to the Landlord, Proudale Ltd., via their Solicitors: Juliet Bellis & Co, Isfield Place, Isfield, Nr Uckfield, East Sussex TN22 5XR (DX: 133965 Uckfield 2), Telephone 01825 750811, Fax: 01825 750703.
3. Enquiries regarding the payment of ground rent should be addressed to the Freeholder's Agents: South East Property Services Limited, Hangar 4, Shoreham Airport, Shoreham-by-Sea, West Sussex BN43 5FF.
4. Enquiries regarding the buildings insurance cover should be addressed to Laurel Manor Management at the Registered Office.
5. Should you require any of thefollowing documents, please note our current charges:
| • Annual Reports and Accounts: (Latest available is for year to 30.9.2008) | £15 for each year |
| • Latest approved Minutes of AGM (June 2008) | £5 per copy |
| • Pack of last 3 years Reports/Accounts and latest approved AGM Minutes | £40 per pack |
| • Memorandum & Articles of Association of Laurel Manor Management (No1) or (No2) Ltd | £10 per copy |
| Please make cheques payable to Laurel Manor Management (No.1) Ltd |
6. Within one month of Completion Date, we require the following:-
| • Previous owner's Share Certificate, for cancellation. |
| • £10 for Share Registration/Administrative costs, cheque payable to Laurel Manor Management (No.1) Ltd. |
| • Duly executed Stock Transfer form. |
| • Notice of Assignment and (if mortgage applicable) Charge. |
| • Completed Directorship Appointment Form 288a. A Director will be the first named on the Share Certificate. |