Finances
The annual service charge is the sole source of income for MPMCL and is paid equally by all 208 households. The current service charge is £500 p.a. The past year's accounts, forward plans and budgets are agreed with members each year at the AGM held in October.
Service charge
Each household pays an equal share of the costs of maintaining the landscaped open spaces.
The costs are therefore shared by 208 household units. 13 of these units are the former offices, the old Church and the small business units in Clements Road. MPMCL’s annual service charge falls due on 1 February each year. It is collected by MCMPL direct.
In 2025/26, the service charge was £400, plus road and infrastructure levy of £50.
For 2026/27, the service charge is £400, plus road and infrastructure levy of £100.
The service charge is the sole source of finance for the Company and must pay for the routine costs of on-going maintenance – such as road sweeping, grass cutting, tree management, street lighting, insurance – and also emergency work such as clearing surface water drains or making safe storm damaged trees.
The budget and service charge is agreed with shareholders at the AGM.
Accounts
The directors’ report and financial statements for the year end January 2025:
The directors’ report and financial statements for the year end January 2024:
The directors’ report and financial statements for the year end January 2023:
January_2023_download_here
The directors’ report and financial statements for the year end January 2022:
January 2022 download here
The directors’ report and financial statements for the year end January 2021:
are here.
The directors’ report and financial statements for the year end January 2020:
are here.
Audit
As a very small private company, MPMCL is not required by statute to undertake a formal audit. Members may of course ask for this to be carried out if they wish. The annual accounts are, however, subject to an independent review and submitted to Companies House. Financial reports are prepared for the approval of the membership at the AGM each October.
Budgets