The company acts as a trustee of a statutory trust in respect of service charges collected for the maintenance of the 12 Lansdown Place, Clifton Bristol. The company is responsible for the management of 12 Lansdown Place, Clifton Bristol and collects these charges from the tenants in order to cover the costs incurred.
Any excess charges are held in trust for the tenants as required by Section 42 of the Landlord & Tenant Act 1987. These are held to fund future financial obligations in the management of the 12 Lansdown Place, Clifton Bristol and will be treated as company income when that expenditure takes place.