Peverel Service Charge Notes
Meadow Park – Phase 1 (32 units) and 2 (23 units)
1st January 2007 – 31st December 2007.
Income:
The estimated annual income from the hire of the guest suite based on a charge of £15 per night. This nominal charge is to cover the cost of heating, lighting and laundry of bed linen. A charge may be introduced for the hire of any of the individual rooms in the clubhouse for private functions.
Remuneration:
The Estate Manager’s salary is calculated at £8 per hour, based on a 20 hour week, 9am to 1pm -Monday to Friday. An allowance has been included for employer’s national insurance contribution, employer’s pension contribution, recruitment / advertising, training costs and relief staff costs.
Office Telephone:
This figure covers the cost of business calls, line rental and VAT.
Monitoring:
The 24 hour emergency call monitoring service is provided by Cirrus Careline for 365 days per year and charged at £1.45 + VAT per unit per week.
Telephone Link:
Cost of ISDN lines plus a fire panel link.
Sundry Expenses:
This figure will cover all petty cash items such as postage, stationary, printing and TV licence for the guest suite.
Insurance:
The Peverel building policy for Phases 1, 2 and Clubhouse includes Clubhouse contents, terrorism, Estate Manager sickness and includes 5% tax. Sum insured £6,940,416.
Kingsborough Insurance can provide individual home contents insurance to leaseholders.
Electricity:
Estimated cost of electricity for the Clubhouse.
Water:
Estimated cost of water and sewerage for the Clubhouse.
Window Cleaning:
The cost for cleaning external windows of all properties on Phase 1, 2 and Clubhouse and internal windows of Clubhouse has been based on 6 visits per annum at £458 per visit.
Cleaning/Materials:
Cleaning contract cost has been based on 6 hours per week at
£10 per hour and includes provision for materials.
E / Call Equipment:
This figure includes:-
- Cirrus Communications maintenance contract to respond to any
faults on the emergency call PABX equipment (58 No units) - £1044 + VAT.
- Fire equipment maintenance contract - £150 + VAT.
- Phase 1 and 2 proportion of maintenance contract for CCTV- £800 + VAT.
- Satellite TV system maintenance contract - £3,000 + VAT.
General Repairs:
This figure includes a provision for all general repairs, light bulbs and refuse collection.
Redecoration Fund:
This figure is set aside to provide for future external redecoration of properties on Phase 1 and 2 and internal redecoration of the Clubhouse on a cyclical programme.
Contingency Fund:
This figure is set aside to provide for future expenditure on replacement or major repair of communal equipment such as communal Clubhouse furnishings and emergency call system.
Management Fee:
This figure is based on a management fee of £124 + VAT per unit per annum. The fee is then broken down into estate management (70%) and accounts administration (30%).
Audit Fee:
This independent service is charged at £8.25 +VAT per unit per annum.
Bank Charges:
Agreed annual bank charge with Royal Bank of Scotland Group.
Shared Facilities Service Charge
Phase 1 and 2 and Hawthorns
This budget covers the cost of providing and maintaining the communal/shared facilities and services and, with the exception of transportation, has been apportioned equally with Phases 1 and 2 paying two thirds and The Hawthorns paying one third.
With regards to the provision of transportation The Hawthorns will meet two thirds of the cost and Phases 1 and 2 will meet one third.
The costs for Phase 1 and 2 are then apportioned in accordance with the lease fraction.
As shown on the budget, these facilities include a provision for night staffing cover (security), transportation, electricity, grounds maintenance, repair and maintenance (including contract for electronic gates and proportion of CCTV maintenance), insurance cover for grounds, contingency fund and management fee.
Lease Fraction Apportionment
Total number of properties on Phase 1 and 2 = 55.
This is made up of 8 smaller units paying 4/267 parts and 47 larger units paying 5/267 parts.
The lease fraction applies to both Phase 1 and 2 Service Charge budget and the Estate Facilities and Shared Services budget.
28th October 2006
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