Income and Expenditure for 2017-2018

Income-and-ExpenditureA record of the Company’s annual accounts can be obtained from the document, Annual Report & Accounts 2018, sent to all Members prior to the Annual General Meeting in April 2019. The Report includes statements from the Chairman and the Directors and a detailed list of the sources of income and of expenditure. Additional copies of the current Annual Report & Accounts may be obtained from the Company office.

Income

For the financial year October 2017 to 30 September 2018, the Company’s income was £462,487.

In the financial year 2016-17, the income was £416,529.

Income for 2017-2018 came from these sources£
Contributions (Members’ frontage charges)447,289
Membership fees 2,700
Planning fees and meetings8,850
Other income (interest etc)3,648

Expenditure

The main rounded-up costs in the 2017-18 accounting year were as follows:

Expenditure£
Office staff and premises86,000
Roads maintenance, lamps and lighting68,000
Maintenance of trees and woodlands70,000
Security guards, security car and cameras87,000
Legal and professional fees 73,000
General estate maintenance 35,000
Accounting and audit 5,000
Depreciation41,000

The repair and maintenance of roads is one of the most expensive individual services. Annual tasks include winter gritting, repairs to potholes and road markings, the erection and upkeep of signs and street lights, and clearing drains to prevent the build-up of leaves and debris.

Costs for general security, the security car and cameras include periodic vehicle checks at entrances to the Estate by a team of contracted security guards, traffic control and checks on illegally parked vehicles on Estate roads, plus the costs of the camera identification system. The cameras are used both to help the security staff to identify non-legitimate users of Estate roads and to assist the police in deterring and detecting crime.

The large stock of trees on the Estate requires regular and expert care, the disposal of trees and replanting by qualified tree surgeons.

The work of caring for the trees, and keeping them in safe condition, has steadily increased. This is partly because as trees age they become larger and cost more to maintain.

Estate maintenance includes the cost of ground staff who keep the common areas of the Estate to an acceptable standard and who carry out minor improvements.

The Board’s financial policy is to live within the financial resources available from annual subscriptions, building adequate reserves so that capital items or unexpected costs can be immediately met.  As part of this policy, the Board has built up a Reserve Fund to pay for the costs of  road resurfacing, now in its fifth year, and with additional road work still to be done.

Financial policy

The Company’s financial policy is to protect the environment of the Estate, operating within the financial resources available from annual Members’ subscriptions, in order to provide essential services to residents and to build up a substantial Reserve Fund to pay for unexpected costs and anticipated charges such as road renewals, general maintenance, office costs and the protection of trees.

Updated 12 April 2019

E&OE