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
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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
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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
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