MANCO3 NEWSLETTER – WINTER 2022
Your directors thought it would be helpful to keep you up to date with Company matters in the Poundbury (Manco3) Ltd. area.
The Directors
Graham Douglas, who became a director in May 2016, has decided it is time to step back from the role. Graham has worked tirelessly to safeguard the interests of the shareholders of Manco3. The Poundbury Project was a new concept and Graham has helped mould the working practices of Poundbury (Manco3) Ltd and to shape our vision of the future. On behalf of us all, we thank him for his help and expertise, wishing him and his wife well for the future.
With Graham’s departure, it is more important than ever for us to invite nominations for new directors to join the board. Any interested shareholders (owners of a residential or commercial property in the Manco3 area) can put their name forward to become a director; for more details please contact www.poundburymanco.co.uk . The role is largely strategic, with the day to day management being undertaken by our managing agents, Symonds and Sampson.
The 2023 AGM
The 2023 Annual General Meeting will be held on Wednesday 26th April 2023 at 7.30 pm in the Brownsword Hall, Poundbury. The minutes of the 2022 AGM are available from www.poundburymanco.co.uk
Communications
Please do keep the Company up to date with your current contact details (telephone number and if possible email address) via www.poundburymanco.co.uk. It will help us to keep in regular touch with shareholders and will keep administrative costs down if we are able to use email as much as possible. It is especially important for us to have these details, and a postal contact address, if your property in Poundbury is let or is a second home.
Please would shareholders:
- advise if the contact details are different from the Poundbury address;
- ensure that holders of Powers of Attorney, where applicable, and Executors are aware of your obligations as a shareholder.
Letting your Property in Poundbury.
As well as letting the Company know as above, please remember that you remain responsible for your commitments as a shareholder. It is prudent to include a requirement in any tenancy agreement for tenants to comply with the Poundbury Stipulations .
Maintenance Charges
The Poundbury Manco3 Maintenance charge for 2023 will be £204 p.a per share.
Please make a single payment: this will be discounted by £12 to £192 if paid by 31st March 2023. Please pay by BACS or cheque as advised on the invoice to be issued by Edwards & Keeping.
We recognise that this represents an increase over the last few years, however the Manco is incurring substantial increases in some costs, especially electricity which represents some 16% of our annual expenditure. We need to minimise the extent to which we call upon our strategic reserve. This is the first increase since 2019 and we will continue to make every effort to keep costs down.
Please cancel any old standing orders for payment of charges. Please note that a handling fee of £12 will be deducted from any payment if it is necessary to refund overpayments. (This is usually due to shareholder forgetting to cancel a previous standing order). Unfortunately, due to banking regulations, Poundbury (Manco3) Ltd is not able to take payment by direct debit.
The option to make two payments has been withdrawn. Given the scale of the charge and the three month period in which to make the discounted payment, the additional administrative costs are not considered a worthwhile use of the Company’s resources.
Recycling and Waste Bins
Bins continue to be a time-consuming problem. Our Managing Agent spends a great deal of time chasing a relatively small number of residents who fail to return their bins to either a communal bin store or a back garden after bin collection day. The additional administration costs caused by residents ignoring the regulations will now be recovered from shareholders. Final warning letters will be followed up by invoicing the costs of administration directly to the shareholder concerned.
The Mancos are not responsible for bin stores serving flat or apartment blocks. These premises will have a Management Company that deal with common issues affecting the block. The boundaries were clearly defined when the buildings were constructed. All apartment bin servicing queries should be addressed to the relevant Flat Management Company rather than the Manco.
Manco3 Help – What we can do and what we cannot do to help you!
Reviewing the queries received by our Managing Agent, it is apparent that there is some confusion amongst shareholders as to the activities for which Manco3 is responsible. Manco 3 provides the covenanted services in private common areas (primarily courtyards). These duties include some maintenance and stipulation management activities, such as for example all courtyard lighting including power and repair, maintenance of ducted free-to-air TV services to each property, and advice if needed on connection to commercial TV systems such as Sky. For clarity, Manco3 has no responsibility for broadband services, including the provision of TV channels through broadband. More details can be found on our website www.poundburymanco.co.uk .
Platinum Jubilee and Coronation.
The piece of ground at the western entrance of Poundbury (near Monkey’s Jump Roundabout) is being converted into a wildflower meadow to commemorate the Platinum Jubilee of HM Queen Elizabeth II. The work to create the meadow is in progress and in due course an information board will be in place to dedicate the meadow to the memory of Her Majesty, as well as commemorating her Platinum Jubilee. Now that a date for the Coronation, Saturday 6th May 2023, has been announced, consideration is being given as to how to commemorate the Coronation of Charles III.
We hope you all have a Happy Christmas and send good wishes to you and your families for 2023.