Service Charge Accounts

All & members do not need to employ a separate accountant to prepare their service charge accounts.

1. we administer all funds through a regulated client account, and
2. that the company has not bought or sold assets, and
3. has not received any ground rent or other income

Ringley's Leaseholder Support.co.uk will prepare statutory accounts within their fee structure.

On , members can use our software to build their service charge account from the data you have entered. Service charge accounts differ from the statutory accounts primarily in the detail of the information presented.For example service charge accounts will include:

1. a list of how the debtors total is compiled - to confirm arrears for each owner as at the year end date
2. a breakdown of expenses - so that you can compare this against the service charges budgeted for the year
3. a schedule showing each owners liability towards any surplus or deficit
4. where owners pay service charges according to more than 1 %age in their lease/transfer document a schedule showing which expenses have been apportioned to which owner

As the Service Charge Accounts (required by the 1985 Landlord & Tenant act) are not the statutory accounts (required by the Companies Act) they do not need to be filed with Companies House.

Service charge accounts are necessary to ensure that the allocation between owners is according to the provisions set out in the lease, therefore making service charge expenditure recoverable in a court of law. It is only members who will receive a full set of service charge accounts fully prepared by us.