Eversley Park Risks

 

This page summarises the key risks to the Eversley Park finances and the development, its insurance standing and legal status.

For the current year 2015-16 and summary of events that have given rise to certain events is also noted.

Finances

Bank accounts

Bank accounts set-up by Honeyborne Kenney and later administered by Hyatt on Property are still in place.
The bank administering the accounts highlighted that it was no longer viable to maintain. This coincided with the appointment of Rebloom and a concern raised by a leaseholder to money potential fraud by the managing agent.
In response the action was taken to find a bank willing to open a separate account in the name of Eversley Park Management (Birkenhead) Ltd. This was achieved in July 2015.
Two accounts exist one for service charge receipts and the second for the sinking fund. The old accounts have yet to close, Gwyn Owen is in liaison with the bank to try to achieve this soon.

The service charge account details are:

Bank: RBS
Account Name: Eversley park Service Charge
Sort number: 163424
Account name: 11151423

Service charge Funds

There is sufficient funds across all accounts to meet current liabilities.
The funding requirement for 2015-16 will be circulated ahead of the agm for agreement.

Insurance

In the year 2014-15 Eversley Park were unable to meet all of the terms of the insurance policy as it did not have a fire safety assessment, asbestos management plan or electrical safety certificates. This was also the position when quotes were requested for the current period.
Of 5 companies requested to quote only two quotes were received. Of the two (???) insurance was dependent on the ? being met. The policy could be put in place but no claim could be made until the reports were available and remedial work undertaken. The 2nd (flat Guard), could be implemented if the work was undertaken in a reasonable time frame.
The current insurance is dependent upon the recommendations within the fire safety assessment & electrical assessments being met.

In placing the policy, savings of £xxx were achieved.

 

Health & safety

Trips & slips