The company acts as a trustee of a statutory trust in respect of service charges collected for the maintenance of properties at 37 Durdham Park. The company is responsible for the management of 37 Durdham Park and collects these charges from the lessees in order to cover the costs incurred.
Any excess charges are held in trust for the lessees as required by Section 42 of the Landlord & Tenant Act 1987, and reported separately in the notes to these accounts. These are held to fund future financial obligations in the management of 37 Durdham Park and will be treated as company income when that expenditure takes place.