statements of account

  • Filter
  • Time
  • Show
Clear All
new posts

  • statements of account


    We've been asked to provide a "statement of account" to our leaseholder.

    We don't have a sinking fund, service charge demands are sent out as required and with supporting documents. We only ask for funds in advance if there is a large item of expenditure and it is clear what the demand relates to. Last time we did this the actual bill was lower than the demand and we repaid the overpayment. Our preference all along has been to keep things simple.

    Can we send a summary of the last 12 months expenditure (confirming all paid up, no problems) or we have to get an accountant involved? It seems so unnecessary (and expensive) as we are only a block of 3 flats (majority share the freehold) and the freehold isn't held by a company.



  • #2
    I'm guessing that what they want is a statement for that particular flat showing charges made and monies received over a period of time. You don't need an accountant for that.


    • #3
      You probably want something on these lines

      If you are the treasurer ( some has to be the authorised financial officer ) you could sign it, as being a true representation of the expenses incurred and contribution for that flat.



      • #4
        I would call that service charge accounts, rather than a statement of account.


        • #5
          Originally posted by Tulula View Post
          I would call that service charge accounts, rather than a statement of account.
          But it can still be used / modified to just show income and expenditure
          for the financial year in question, leaving off the cost per flat.

          Supplied to show a format, which impish can then write his / her own.

          The leasholder may want a more detailed account, wanting to see
          EVERY transaction, but a statement is what they asked for, which
          is not a copy of the accounts everyday transactions pages.
          Maybe he "does" want to see a sheet similar to Gateshead's, as many just look on internet and told they want
          such and such, and they just ask for it, not knowing what to expect.
          Who knows ...



          • #6
            What I'm talking about is a thing like a bank statement showing dates, amounts charged, amounts paid and a balance.


            • #7
              I agree with Tulula that a statement of that leaseholders account is most likely what they want.

              The Op could ask them, as Tulula suggests,

              " Just to be clear, do you want a simple list of amounts demanded of and paid by you, or something else? "
              Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.


              • #8
                Thanks all of you. That's really helpful. I think they are just after a list of monies due and received for that flat. I was just concerned that we needed to get some sort of official sign off.


                • #9
                  No, statements of account are just book keeping, no need for anything official.


                  • #10
                    Is this a request under S21 of the Lanlord & Tenant Act 1985 ?

                    The S21 in force (not to be confused with the version online, this confusing aspect has been discussed here numerous times !),S21 only requires an audited account if there are 4 or more leaseholders.

                    Advice given is based on my experience representing myself as a leaseholder both in the County Court and at Leasehold Valuation Tribunals.

                    I do not accept any liability to you in relation to the advice given.

                    It is always recommended you seek further advice from a solicitor or legal expert.

                    Always read your lease first, it is the legally binding contract between leaseholder and freeholder.


                    Latest Activity


                    • Conflicting lease placed over my lease
                      Good evening all and thanks for reading.

                      I'd be keen to hear peoples thoughts on this one.

                      My BTL flat in London, E1 has a long lease and an accompanying land registry document that shows the terrace around the perimeter of my property is part of my demised premises. As with...
                      20-07-2017, 21:54 PM
                    • Reply to Conflicting lease placed over my lease
                      When you say your terrace do you mean you physically have buildings on there or just land?

                      the land registry are unlikely to be interested, they have a "general boundaries rule" and actually the matter would be decided by the courts. Because of this, the status of the plan at...
                      20-07-2017, 22:03 PM
                    • Communal front garden issue

                      I hope I'm posting in the right part of this forum. I need some some advice please.

                      I own the leasehold on my ground floor flat and the freeholder owns the flat upstairs and rents out to tenants.

                      New tenants moved in two weeks ago and since they have moved...
                      19-07-2017, 20:45 PM
                    • Reply to Communal front garden issue
                      It is not exactly garden furniture what you got there. It can deteriotae in rain.
                      Speak to the planning department as well about the situation as they may have some rules on the front gardens,

                      Is the front garden demised to any owner? You need to check the other lease as well. Your...
                      20-07-2017, 21:00 PM
                    • .
                      20-07-2017, 19:54 PM
                    • Reply to first time buyer - Freeholder died
                      From other posts on arrears in ground rent, it seems the freeholder can only claim back 6 years.. You could ask the seller to pay the 6 years rent owed.

                      If the original lease started at 99 years , you may be facing a ground rent increase to double the current rent at 66 years....
                      20-07-2017, 20:26 PM
                    • Reply to first time buyer - Freeholder died
                      I'm assuming as a first time buyer you are mortgaging - in which case, I think you have a more fundamental issue in that the lender is very unlikely to lend if you have less than 80 years on the lease...
                      20-07-2017, 19:59 PM
                    • Reply to Communal front garden issue
                      I've always found that if you don't want something just put it outside and it magically disappears!

                      (And I don't mean the council has cleared it but the totters have!)

                      Why don't you put a sign up offering free furniture to the taker?
                      20-07-2017, 19:37 PM
                    • Freehold management accounts
                      Hi, we have just received the year ending financial accounts, albeit late and after the agm.

                      the managing agent took control from the beginning of our financial year, a year ago, I'm trying to work out from the accounts produced by the RTM board year ending 2015, what the year end figure...
                      19-07-2017, 12:54 PM
                    • Reply to Freehold management accounts
                      Thank you for the reply
                      20-07-2017, 17:11 PM