Page 218 - The Big Begg_1

MHML have obtained a Surplus on every set of accounts to date, (2012/2013/2015) save for the 2014 accounts and as previously stated, each lessee today is only paying £54 per annum more in 2016 than they were paying in 2011 under our previous Agents, KFH. That’s over a period of 5 years! And we will be reducing Quarterlies yet further in 2017 due to Managements’ continuance of careful and considerate husbandry of all lessees investments.
Show me a similar building within a mile of Mitre House that’s as well maintained and well looked after on a 24/7 basis (almost) with such low outgoings and I’ll sell up and move there tomorrow.
That’s good enough reason for our Management charges.
To summarise the financial posi2on, MHML appears to have paid itself, without informing the leaseholders or obtaining their consent, (at least) £31,765.21 out of monies which the leaseholders had intended and made available to pay AR Lawrence. Furthermore MHML has sHll failed to account for a further £25,121.54 which (according to the Service Charge accounts) has been paid away, but the leaseholders sHll do not know to whom. This is set out in tabular form below:
Money appropriated and/or collected by MHML
Available reserves (per PB-C)
AddiHonal contribuHons collected AddiHonal “voluntary” contribuHons paid
Water Tank Communal TV
Total monies collected by MHML:
Less:
Money Accounted for by MHML
Actually paid to AR Lawrence
Actually paid to surveyor
Retained by MHML (per PB-C)
Total monies accounted for by MHML:
7,810 5,337
62,010.00 10,513.00
£
98,262.75 18,000.00
13,147.00 129,409.75
31,765.21
104,288.21