RUSSELL COURT (LEAMINGTON) LIMITED

The Company is responsible for the management of the estate known as Russell Court, Leamington Spa and collects service charges from lessees in order to fund expenditure incurred in the management and maintenance of the estate and buildings. The Company acts as a trustee of a statutory trust in accordance with the Landlord and Tenant Act 1987 in respect of service charge monies collected and expenditure incurred. Accordingly these funds are excluded from the Company’s financial statement as separate Service Charge accounts should be prepared. The current director noted that during 2013, 2014 and 2015 no separate Service Charge accounts were prepared by the previous director.