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Service Charge Accounts

All Leaseholder Support.co.uk members do not need to employ a separate accountant to prepare their service charge accounts where they are administered through Ringley's Leaseholder Support.co.uk.

Provided that

  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.

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 are not the statutory accounts 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 Block Care 200 Clients who will receive a full set of service charge accounts as at Block Care 100 level the annual administration fee is reduced to reflect that there is only a legal requirement to produce service charge accounts if there are more than 4 flats.



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