| Modelmove Residents Association Limited |
| Independent Accountants' Report |
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| Modelmove Residents Association Limited |
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| Independent accountants' report to the directors of Modelmove Residents Association Limited in respect of the service charge accounts for the year ended 31st December 2024 relatingto the 8 leasehold flats at 227 Main Road, Biggin Hill, Kent, TN16 3JY. |
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| As set out in the summary of the tenant's rights and obligations as issued to each leaseholder on issuing their service charge demand, the lessor is obliged to provide the lessee with a regular statement of account showing service charge income and expenditure of the management company. |
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| The account ("the statement") that is covered by an accountant's report. It is our duty to issue that report in accordance with the provisions of the Landlord Tenant Act 1985. |
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The management of the Company was undertaken by Prior Estate Management Ltd, who; directedand controlled the Company, entered into agreements, carried out the repairs and maintenance and collected in the service charges. Prior Estates opened a client bank account with Barclays Bank plc that was administred and controlled by them.
Prior Estates prepared the bookkeeping and it was found that a number of leaseholders were in arrears and no explanation has been provided as of preparing the service charge accounts.
In our opinion the funds held in the service charge reserves are insufficient to cover the day to day runnings costs and have not provided for long term repairs and maintenance given the age of the building (1991 date of construction) and what Prior Estates were made aware of with two other Aperfields block of flats.
The budgeting shortfalls have been hightlighted to Prior Estate Management Ltd and Moonstone Management Limited with the hope that current day to day running costs can be covered with funds contributed into the long term repairs and maintenance fund. |
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| Enigma Accounting and Consulting Limited |
| Accountants |
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| 421 Tonbridge Road |
| Maidstone |
| Kent |
| ME16 8NJ |
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| 31 May 2025 |
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| Modelmove Residents Association Limited |
| Registered number: |
02586414 |
| Balance Sheet |
| as at 31 December 2024 |
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2024 |
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|
2023 |
| £ |
£ |
| Current assets |
| Service charge arrears |
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|
925 |
|
|
273 |
| Cash at bank and in hand |
|
|
3,390 |
|
|
5,095 |
|
|
|
|
4,315 |
|
|
5,368 |
|
| Services charge paid in advance |
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(103) |
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|
(152) |
| Credit agreement owed |
|
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(482) |
|
|
- |
| Accrued expenses |
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(550) |
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(370) |
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|
|
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(1,135) |
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(522) |
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| Net current assets |
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|
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3,180 |
|
|
4,846 |
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| Capital and reserves |
| Called up share capital |
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|
|
6 |
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|
6 |
| Profit and loss account |
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|
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4,846 |
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|
3,610 |
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| Shareholders' funds |
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|
|
4,852 |
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|
3,616 |
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| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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| R Pitt |
| Director |
| Approved by the board on 31 May 2025 |
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