Year End Statement for 23/24

Operational costs for 23/24 and the proposed costs for 24/25 have been emailed to owners, along with the year-end statement. Having carried out this exercise in conjunction with the Leet Haugh Residents Association Committee, and with the increase of costs, a discussion took place with the committee on 28 February 2024 at which point it was agreed that from 1 October 2024 your monthly fee will increase to £26pcm to ensure that Leet Haugh continues to be maintained to the current standard. The decision was taken to use 1 October as the start date to give time for everyone to amend their Standing Orders. Obviously, this has meant that there is a larger increase than would have been the case if an earlier date had been chosen. This will equalise over the years as in 2025/26 the start will be from a higher point. Any monies not spent will be retained in your accounts. Therefore, please can you ensure that you amend your standing order for the new payment to commence 1 October 2024.

In addition, your Committee has recommended that £100 – £200 should be retained in your account against any unforeseen and required spend and will form the deposit or ‘risk pot’. You are able to deposit funds into your account at any time to meet this criterion.

Thereafter your monthly fee will be reviewed annually, in conjunction with the Leet Haugh Residents Association, and reported at the AGM in September.

Along with discussions over the year, an updated version of the Written Statement will be sent out in October 2024.

We look forward to assisting you with the upkeep of Leet Haugh.