Minutes of Annual General Meeting of Brock End RTM Company Ltd held at 7.00pm on 6 August 2015 held at 167 Victoria Road, Swindon SN1 3BU

Transcription

1 Minutes of Annual General Meeting of Brock End RTM Company Ltd held at 7.00pm on 6 August 2015 held at 167 Victoria Road, Swindon SN1 3BU Present: Ashley Cain Renate Challis Rav Dhillon Diana Morris John Morris David Salsbury Peter Sirett Dasha & Spence Smith Rose Yalden - Managing Agent - Managing Agent/Company Secretary - proxy for Sara Castelan 1. Welcome and Introductions John Morris was appointed chairman of the meeting and welcomed those attending confirming that the meeting was quorate as there were at least 20% of the members present and introduced the directors; Ashley Cain, David Salsbury and Rose Yalden. He also introduced Diana Morris and himself who were appointed Managing Agents from 1 May John read the list of apologies received: Jill & Steve Davis Simon Hannon Pauline & James Webster 2. Minutes of previous meeting This is the first Annual General Meeting (AGM). Minutes were distributed of the previous members meetings and directors meetings. It was noted that these are all available on the company website. It was agreed that future meetings would be held shortly after the year end which is on 30 September. The meeting commenced with formal resolutions: 3. Formal Resolutions a. Receiving the accounts The members resolved to accept the following resolution: Resolution 1. To receive the accounts for the year to 30 September These accounts are available on the company website although they show no transactions as the company was not trading during the period. b. Re-election of Directors As this is the first Annual General Meeting all directors offered themselves for re-election by members

2 The meeting unanimously agreed to accept the following separate resolutions: Resolution 2. To re-appoint Ashley Cain as director Resolution 3. To re-appoint David Salsbury as director Resolution 4. To re-appoint Rosina Yalden as director 4. Mainstay Handover Update a. Insurance refund The landlord s agent Mainstay has finally passed over the uncommitted service charge reserves for the two blocks totalling 14, but have withheld refunds due in respect of insurance cover that terminated on 1 May Based on the charge to 6 December 2015 the refund should be 3, b. Estate reserves transfer Mainstay has not yet accounted for, nor handed over the 12/38ths portion of the Estate Charges. The Estate Charge consisted principally of Mainstay s management charge and gardening. By law the uncommitted Service Charge funds should be handed over either at the commencement of Right To Manage or within a reasonable time. A reasonable time has been suggested to be 28 days. It is now over 3 months since the Right To Manage was exercised. c. Access keys etc Mainstay has not provided the key safe combinations, keys, access codes to fire alarm systems or key holder lists requested. d. Individual Service Charge accounts Mainstay has not provided copies of individual leaseholders service charge account statements as requested. e. Electricity supplies Mainstay has not provided details of the electricity suppliers for Croft House and Newport House as requested. John Morris advised that he had spoken to the distribution company SSE and determined that both supplies were with Southern Electric. The meter in Newport House that also supplies the communal gate and communal car park lighting. However, this meter was recorded by SSE as being located at a different location. SSE has now corrected the location in its records and arrangements have been made with Southern Electric to invoice Brock End RTM Company for future use. It was agreed that the meter readings be compared for the two blocks and the excess use for Newport House assumed to relate to the external lighting and access gate use. Of the additional cost 26/38 th s would be charged back to Mainstay in respect of the share of the communal use for the 26 properties that are not included in the Right To Manage. 6. Bank Account The company has opened bank accounts with Lloyds and Aldermore Bank. The Lloyds Bank account is a fee free cheque account and the Aldermore account is an interest paying deposit account currently paying 1.1% interest. 7. Estate Management a. Grounds The company is responsible for arranging the maintenance of the grounds around Croft House and Newport House. A plan of the site was produced showing the areas maintained by Brock End RTM Company Ltd.

3 Rose Yalden commented that the lawn maintained by the company was tidy whereas the lawn still the responsibility of Mainstay was overgrown. b. Skip Mainstay appear to have arranged a skip which has been left full of rubbish next to Newport House. The skip contractor s number has been obtained from the skip. Unfortunately the contractor has since gone out of business. Attempts will be made to contact whoever has taken over from the contractor in order to get the skip removed. 8. Communal Areas of the buildings a. Communal Doors The communal door to Croft House has been painted recently. Arrangements will be made to paint the door to Newport House along with both side panels b. Entry System Mainstay has still not provided any details of the entry system. Rav Dhillion advised that he had recently purchased a remote entry fob for the site s main gate from Mainstay for 60. Due to the failure of Mainstay to supply keys, copies have been taken from leaseholders keys for Croft House and Newport House and the communal cupboard key copied from the one in the fireman s box. c. Communal Lighting Arrangements have been made to test the emergency lights on a regular basis and the check sheets displayed on the notice boards of each block. One of the exterior door light bulbs has recently been replaced at Newport House. d. Communal Electricity As soon as the first electricity invoices are received they will be checked to determine whether they are on the lowest possible tariff and will be changed if a cost reduction is available. e. Electrical Installation Condition Report The current report on the communal electrics although not made available by Mainstay expires in The company will commission a new report on expiry. f. Fire Alarms Mainstay has not provided the keys or access codes requested to the system. The latest Health & Safety report commissioned by Mainstay recommended removing the alarms. This is in line with current advice that communal buildings are not fitted with fire alarms. It was agreed that the system be inspected and advice obtained about either maintaining it or decommissioning it. g. Rain water pipes One of the down pipes on Newport House had been leaking for some time causing discolouring to the front of the building. The leak has now been repaired. h. Communal TV/satellite system Rose Yalden advised that she believed that the blocks originally had a communal aerial system but this has fallen into disuse and residents had installed their own dishes and aerials. It was agreed to monitor the number and location of dishes and aerials and review the position at a later date. i. WiFi/broadband John Morris advised that on other sites he and his wife manage with up to 36 properties a communal broadband system had been installed using 4G. After initial installation costs the monthly running cost is 25. The service has been welcomed by both residents and also by

4 landlords who find it easier to rent property with broadband included. It was agreed to review this option at the next meeting. j. Other Ashley Cain reported that he had received positive feedback from residents about the improvement in cleaning at Croft House and Newport House after the company appointed new cleaners on 1 May John Morris advised that the faulty door closer on Newport House has been repaired. 9. Service Charges and forecasts The budget forecasts for the current and following two years were produced and discussed. Despite the absence of any actual figures from Mainstay for Estate Charges to 1 May 2015 the directors and Managing Agents were of the opinion that the service charges could be reduced by over 21% from last years charge totalling 19, to 15,600. It proposed that rather than apply slightly different charges per flat as in previous years, the provisions of the lease to vary the allocation be adopted and a straight forward allocation of 1/12 th of the Estate Charges be applied to each flat and 1/6 th of each block charges. This will result in a charge of 1,300 per flat for the year commencing 1 October The members agreed that this was a substantial reduction and the proposed charge was agreed by the members. John Morris advised that the intention will be to set charges two years in advance at future AGMs and aim for very small changes in the level of charges from year to year, however as this was the first full year it would be prudent to wait until next year to commence this. Rose Yalden asked what would be a prudent level to maintain in reserves. John Morris advised that in general for other sites the aim was to keep about two years worth of service charges in hand to cover larger items of expenditure year to year or possibly if there was a problem collecting charges. If it was anticipated that a large item of expenditure would be required in the future a sinking fund might need to be established. An example would be (say) replacing flat roofs every 15 to 20 years. However, no such large expenditure was currently anticipated for Croft House and Newport House (which have pitched roofs). David Salsbury asked if a schedule of works would be drawn up. Between them Ashley Cain and John Morris advised that currently there were no anticipated large items of future expenditure due. The internal communal areas would require redecorating in the near future but this cost should be met from the funds available without the need for increased charges. Ashley Cain noted that the internal communal areas of Betjeman House currently required redecorating, however, this was a matter for Mainstay to attend to. Most other expenditure was of a routine recurring nature or reactive maintenance such as replacing light bulbs. Rav Dhillon asked what the fees were for employing John & Diana Morris as Managing Agents. John Morris advised that they were employed on a salaried basis at a rate equivalent to 600 plus 80 per property. The annual fee for the current year was 1,560 compared to 3, charged by Mainstay. Should other blocks join the Right To Manage the average cost per property would fall further. Peter Sirett asked how many of the leaseholders of other blocks were members of the company and how many additional members were required for those blocks to exercise the Right To Manage. John Morris advised that the position was as follows: Block Members Additional members required Southwich House 5 1 Betjeman House 1 } 4 (Bejeman and Scott House jointly) Scott House 0 } - ditto -

5 Villets House 0 3 It has proved difficult to contact leaseholders as leaseholders name and contact details were unknown for some of the properties. In order to make other leaseholders aware of the opportunity to include other blocks Peter Sirett offered to contact Dewhurst Letting Agents who manage a number of properties at Brock End, Renate Challis offered to contact Richard James estate agents about a property at Betjamen House and John Morris would contact Atwell Martin in respect of a property they were currently selling. 10. Freehold The leases to the flats were originally granted for 125 years. The value of the leases will decrease over time especially after they fall below 80 years. At present the cost of either extending the leases or collectively buying the freehold between leaseholders will be relatively low. John Morris advised that he was organising a meeting to be addressed by a solicitor specialising in freehold enfranchisement and that leaseholders at Brock End would be invited in order that they might be better informed of the various options available to them and associated costs. 11. Any other business There being no other business the meeting closed at 8:04pm John R Morris FCMA CGMA AIRPM Company Secretary