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have
been as follows:
leaseholders funds
Starting Reserves before the Project
Additional contributions
Voluntary Contributions for Water Tank + T\//Sky leaseholders funds made available to mHml
leaseholders’ funds paid out by mHml (per PB-C)
£98,262.00 £18,000.00 £12,858.00 £129,120.00
£117,435.21
£11,684.79
leaseholders funds remaining in reserves after project
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To AR Lawrence
To Surveyor
To PB-C and his subcontractors For Water Tank + T\//Sky
62,010.00 10,513.00 31,765.21 13,147.00 £117,435.21
This figure of £11,684 represents a difference of nearly £1,300 from your figure of £10,385. If the money paid out by MHML for the Water Tank and T\//Sky aerial was actually only £12,858 rather than £13,147, the amount standing to Reserves should increase by £289 to £11,973.79, which is a difference of £1,588.79 from your figure.
(“PBC” comment/reply on letter): sounds about right with Reserves’ balance actually totalling a very healthy £41,128. 71 and the reason we have been able to reduce the 2017 Quarterlies down from £900 per quarter to only £650 per quarter per lessee resulting in an annual saving per lessee of £600 p.a. (Folder_00 Item_54)
(r) in the 10 august s22 Notice it states (7. The 2014 refurbishment, failure to follow Section 20 consultation procedures, and mHml’s undisclosed charges:
When the service charge accounts for the year to 31 December 2014 (see Item 4) were subse- quently presented to the leaseholders, there were no details at all of the costs paid to AR Lawrence or any other contractors in respect of the refurbishment activity. There was simply a (wholly inade- quate) item called "Reserves utilised" which showed an aggregate figure of £105,877 against the budgeted figure of £105,019.38 for the agreed works. But it was totally unclear from the accounts whether the whole of this sum of £105,877 had been paid to AR Lawrence & Sons Ltd, and (if not) to whom any balance had been paid.
(s)“PBC” Comment: A perusal of our year ended 2014 Accounts indicates £21,105 (Cash at Bank) as opposed to the predicted £11,243. After Creditors (£10,032) which included the £1590 owed to AR Lawrence and Debtors, £16,201 was carried forward in Reserves. (Folder_00 Item_54_ Ac- counts)