The Sycamores Residents Association

The SRA is a not-for profit Company Limited by Guarantee, it was incorporated on 18th August 1989, it is a private company limited without share capital, currently it has three registered Directors and Secretary.  Full details of the company details registered on companies house can be accessed clicking here

The rules and regulations governing the Sycamores Residents Association are  laid out in the Companies Act 1985 in the Memorandum of Association of The Sycamores Residents Association Ltd., a copy of which is available to residents by clicking here.

The Company is collectively owned by all residents of the Sycamores Estate with no one individual in overall control, this means that all current residents have equal ownership of the company including the Freehold of the estate. Being not for profit and Limited by Guarantee it means that no shares are involved, instead all residents act as guarantors for the company. Having equal ownership means that not only is each individual responsible for the community as a whole, it means they also have equal rights in decision making.  The Member/Residents are subject to the terms and conditions of a Lease Document which can be viewed here.

The Sycamores Residents Association Ltd owns the land outright and leases the land to residents on the estate. Essentially this means that each resident who chooses to buy a leasehold property is also an equal landowner, and that the owners of  the land (the SRA) lease properties to themselves. The benefit of this arrangement, particularly for an estate which has been designed for individuals aged 55+, is that certain responsibilities for insurance  and of maintenance of the communal areas are taken care of via a scheme whereby the residents pay a regular maintenance fee.  In addition to this, additional funds are gained by the SRA when a property is sold on by a Sinking Fund, which is payable by the seller, it is equal to one percent of purchase price for every year of residence up to a maximum of 5 years, this percentage is variable and can be changed by a majority vote at the Annual General Meeting, currently the percentage is set at 5%. 

Current Company Structure

 Note:   It was announced at the AGM held on 9/11/2021 that Mr. Stephen Darkin who had been appointed Director in Sept 2020, has now resigned due to personal circumstances.  (as of 21/11/2021 Companies House has Mr Darkin listed as still being an active Director of the Sycamores - this information has not been updated).

It was also announced that the Mrs Doris Clark plans to retire from the committee on 31/5/2022.

A further announcement was made regarding Mrs Joyce Lowes, she has provided written confirmation that she will retire from the Committee at the next AGM in 2022.

See the 2021 AGM Minutes - page 4

 

 
Interesting quotes from the RAUK (Residents Association in the UK)

"A good residents' association is often a group of tenacious people - they get things done and meet regularly to discuss housing, community or environmental matters affecting their block of flats, estate or houses."  

"They also willingly share information, knowledge and skills with accountability and transparency. They keep accurate records and make them available to their members, especially their accounts.  They certainly act democratically seeing themselves as serving their community not lauding it over residents. The most important thing is that people endeavour to work together to improve the physical conditions of where they live, campaign for better facilities and improve the sense of community in their area."

More information can be found on their website at http://residentsassociations.co.uk/home.html

Back to the top of page

 

November 21, 2021

Copyright  elsher,  All Rights Reserved, 2017-2021