Directors Report

ELMC Ltd Director’s report for financial year 2025-2026

Friday 29th May 2026

Welcome to the fourth Annual General Meeting (AGM) for Elm Leys Management Company Ltd (ELMC).

About the Estate and the Company

Elm Leys is a private residential estate of 40 homes, with communal land that includes landscaped areas, footpaths, the main access road, and a pond that forms part of our drainage system.

When the estate was built, the developer, Ridgepoint Homes Ltd, set up ELMC as a limited company to manage these shared areas. Every homeowner is a shareholder in the company, holding one share per property. This structure ensures that annual service charges are paid, as a property sale cannot proceed if there are outstanding debts.

The company is run by five volunteer directors from the estate:

• Andrew Targell (Chairman)

• Caroline Melven (Treasurer)

• Jennifer O’Callaghan (Secretary)

• David McCosh

• Stuart Westwood

Our work is guided by our Constitution, which was approved by shareholders, and the official Articles of Association filed at Companies House. Although the constitution uses formal terms such as the Company, Shareholders and Directors, it is important to note that we are simply a group of ordinary private householders who have collective responsibility for maintaining the communal areas of the estate for the benefit of us all

Our Responsibilities

As a limited company we have three core duties:

1. Maintenance: To keep all communal land, paths, the road, and landscaping in good condition.

2. Insurance: To arrange and maintain appropriate public liability insurance for the estate.

3. Finances: To manage the company's finances, including setting the annual budget and building a reserve fund for future major works.

Please note that ELMC is not a community association and does not handle disputes between neighbours.

Work Completed This Year (2025-2026)

Since the last AGM, we have:

• Managed the collection of the annual service charge.

• Filed the annual accounts with Companies House.

• Processed two share transfers for property sales.

• Replanted flower beds, replaced bark, and improved the lawn at the estate entrance.

• Carried out routine grounds maintenance, including mowing, weed control, and clearing paths.

• Serviced the oil filter alarm system.

• Tidied and painted the electrical box at the entrance.

• Renewed our public liability and street lighting insurance.

• Installed the commemorative bench by the pond, as approved by residents.

Financials and Service Charge for 2026-2027

The bulk of our spending is on grounds maintenance, and as we are pleased with our current contractors, we propose to continue with them.

A key goal is to build a reserve fund of around £10,000. This fund will allow us to cover major, unexpected costs like road or drainage repairs without needing to ask for a large, one-off payment from homeowners. To build this reserve, our annual income must be slightly higher than our day-to-day spending. We have made good progress, with the fund now standing at £5,000.

This year, we discovered that processing house sales is more complex than anticipated. To protect the company and ensure a smooth process for residents, we need legal advice to formalise our procedures. We expect this to cost around £3,000.

To cover this cost while continuing to build the reserve fund, we propose a modest increase of £9 per household for the year.

• Proposed Annual Service Charge for 2026-2027: £286 per household (up from £277).

For comparison, similar new developments in the area charge around £400 per year. Our Treasurer will now present the full budget for your approval.

Plans for 2026-2027

Our main plans for the coming year include:

• Ongoing grounds maintenance (mowing, weeding, planting).

• A full perimeter hedge cut.

• Clearing the pond area (respecting wildlife habitats).

• Repairing fencing.

• Planting around the electrical box to screen it.

• Finalising the legal process for property sales.

If you have ideas for future projects, please use the submission form on our website so they can be properly considered for the next AGM.

Today, we will vote on the budget, the service charge for the year ahead, and the company officers. Thank you for attending today.

We hope this meeting is informative and helps set the scene for another successful year.

Andrew Targell 

Chairman, ELMC Ltd