Ice Wharf 17 New Wharf Road, London N1 9RF Statement of Service Charge Accounts For The Year Ended 31 December 2017 RDP Newmans LLP Chartered Accountants Lynwood House 373/375 Station Road Harrow Middlesex HA1 2AW
Ice Wharf, 17 New Wharf Road, London N1 9RF Statement of Income and Expenditure For the Year Ended 31 December 2017 Service Charge Service Charge 2017 2017 2016 2016 Note Service Charges Receivable 1b 316,264 295,704 Bank Interest receivable 2 123 Total Income 316,266 295,827 SERVICE CHARGE EXPENDITURE Staff Concierge Services 157,920 144,231 Concierge - Telephone 636 409 158,556 144,640 Utilities & Insurance Water - Communal 16,580 18,594 Electricity - Communal 22,374 24,527 Insurance - Building 27,641 26,871 Insurance - Directors & Officers 497 485 Lift - Insurance 1,443 1,361 68,535 71,838 Contracts, Maintenance & Services Lift - Maintenance 3,755 8,079 Lift - Emergency Telephone 447 604 Pest Control 1,225 1,045 Cleaning - General 17,048 17,466 Cleaning - Carpets 1,300 - Gardening - General 3,273 3,162 General Repairs 9,675 7,228 Door Entry System - Maintenance 3,306 7,578 Door Entry Telephone 374 450 Gates/Shutter - Maintenance 3,523 818 CCTV Maintenance - (300) Fire Alarm Maintenance 1,954 1,393 Fire Extinguishers - 586 Water Tank Maintenance 2,197 1,349 Pumping Station 7,115 485 Emergency Lighting 1,152 1,152 56,344 51,095 Fees Legal & Professional 300 3,744 Management Fee 33,604 33,094 Accountancy Fees 1,680 1,680 Health & Safety Risk Assessesment 1,684-37,268 38,518 Additional Sundry Costs Sundry 429 538 Out of Hours/Emergency Cover 564 451 Locks & Keys (59) 4,409 Bank Charges 111 124 1,045 5,522 Total Expenditure 321,748 311,613 DEFICIT FOR THE YEAR (5,482) (15,786) Surplus Brought Forward 9,492 25,278 Transfer (To) (9,492) - Net Surplus/(Deficit) Carried Forward 4 (5,482) 9,492-2 -
Ice Wharf, 17 New Wharf Road, London N1 9RF Statement of Income and Expenditure For the Year Ended 31 December 2017 2017 2017 2016 2016 RESERVE FUND - GENERAL Note Income Receivable 95,145 93,339 Bank Interest receivable 255 239 95,400 93,578 RESERVE FUND EXPENDITURE External Redecoration 26,007 182,631 Pump Works 7,548 - Roof Renewal Professional costs - 8,129 Bank Charges 22 27 33,577 190,787 NET INCREASE/(DECREASE) FOR THE YEAR 61,823 (97,209) Balance Brought Forward 118,602 215,811 Transfer From/(To) Service Charge 9,492 - Balance Carried Forward 3 189,917 118,602 RESERVE FUND - LIFT 2017 2017 2016 2016 Bank Interest receivable - 4-4 NET INCREASE FOR THE YEAR - 4 Balance Brought Forward 7,702 7,698 Balance Carried Forward 3 7,702 7,702-3 -
Ice Wharf 17 New Wharf Road, London N1 9RF Notes to the Service Charge Accounts For The Year Ended 31 December 2017 1. Accounting Policies a) Basis of Preparation The Service charge accounts have been prepared on an accruals basis under the historical cost convention. b) Service charges receivable The Service charges receivable as shown in the service charge income and expenditure account represents amounts demanded in respect of the period. 2. Cash at Bank Service charge money was held in trust in accordance with section 42, Landlord and Tenant Act 1987, at Barclays Bank PLC, 1 Churchill Place, Canary Wharf, London E14 5HP. These funds are held in the following interest bearing bank accounts:- - HML Hawksworth Ltd. Designated Client A/c Re: Ice Wharf Service Charge - HML Hawksworth Ltd. Designated Client A/c Re: Ice Wharf - General - HML Hawksworth Ltd. Designated Client A/c Re: Ice Wharf - Lift 3. Reserves The reserve funds are an allowance for future costs associated with unknown major expenditure at the development. The funds will build up over a number of years to ensure that when major expenditure is required sufficient funds will be available to meet the expenditure, and so minimise the need to raise additional levies upon residents. 4. Income and Expenditure Surplus Brought Forward 9,492 Deficit for the year (5,482) Transfer (to) (9,492) Deficit Carried Forward (5,482) 5. Transactions with Associated Companies In addition to the management fees shown in the income and expenditure account, the following HML companies provided services that have been charged for separately: - Alexander Bonhill Limited - HML Technical Services - HML Victoria Office - 5 -
Ice Wharf, 17 New Wharf Road, London N1 9RF Statement of Sectored Expenditure For the Year Ended 31 December 2017 200 Building 250 Building 300 Building Car Park Estate Total Service Charges Receivable 24,229 26,533 43,761 13,555 208,186 316,264 Bank Interest Receivable - - - - 2 2 24,229 26,533 43,761 13,555 208,188 316,266 EXPENDITURE Staff Concierge Services - - - 7,896 150,024 157,920 Concierge - Telephone 81 81 81 32 361 636 81 81 81 7,928 150,385 158,556 Utilities & Insurance Water - Communal 3,316 4,818 7,471-975 16,580 Electricity - Communal 3,198 3,198 6,396 3,198 6,384 22,374 Insurance - Building 6,742 7,615 11,869 846 569 27,641 Insurance - Directors & Officers - - - - 497 497 Lift - Insurance 481 481 481 - - 1,443 13,737 16,112 26,217 4,044 8,425 68,535 Contracts, Maintenance & Services Lift - Maintenance 2,006 875 874 - - 3,755 Lift - Emergency Telephone 149 149 149 - - 447 Pest Control 427 259 539 - - 1,225 Cleaning - General 3,978 3,978 7,592-1,500 17,048 Cleaning - Carpets 325 325 650 - - 1,300 Gardening - General - - - - 3,273 3,273 General Repairs 1,490 2,748 3,373 (570) 2,634 9,675 Door Entry System - Maintenance 2,178-953 - 175 3,306 Door Entry Telephone 125 125 124 - - 374 Gates/Shutter - Maintenance - - - 374 3,149 3,523 Fire Alarm Maintenance 559 504 779 112-1,954 Water Tank Maintenance - - - - 2,197 2,197 Pumping Station - - - - 7,115 7,115 Emergency Lighting 184 276 462 230-1,152 11,421 9,239 15,495 146 20,043 56,344 Fees Legal & Professional - - - - 300 300 Management Fee 3,990 5,648 8,960 1,303 13,703 33,604 Accountancy Fees - - - - 1,680 1,680 Health & Safety Risk Assessesment 561 561 562 - - 1,684 4,551 6,209 9,522 1,303 15,683 37,268 Additional Sundry Costs Sundry - - - - 429 429 Out of Hours/Emergency Cover - - - - 564 564 Locks & Keys - - 18 - (77) (59) Bank Charges - - - - 111 111 - - 18-1,027 1,045 Total Expenditure 29,790 31,641 51,333 13,421 195,563 321,748 SURPLUS/(DEFICIT) FOR THE YEAR (5,561) (5,108) (7,572) 134 12,625 (5,482) - 6 -