Thurne Bungalows Management Company Limited (TBMC) welcomes you to its website. Please bookmark this site for ease of future reference. We hope you find the site informative. Suggestions for site improvements are always very welcome.
If you are a TBMC shareholder or a Lease B customer of the Company, please make a point of registering. By registering, you will be able to receive important notices, newsletters and other items of relevance. You will also have access to all of the information on which your Directors make their decisions on your behalf.
Please also visit the River Thurne Tenants Association's website:
The RTTA formed TBMC Ltd in 1985
DATES OF REMAINING 2018 TBMC BOARD MEETINGS:
31st August 2018 1930 - 2200 New Victory Hall, Neatishead
27th October AGM 1000 - 1115 Potter Heigham Village Hall
24th November 2018 1000 - 1300 New Victory Hall, Neatishead
TBMC Ltd SPRING NEWSLETTER 2018
PLEASE NOTE: Your 2018/19 TBMC service charge invoice will be posted on 3rd April 2018. Prompt settlement is appreciated. Thank you.
WELCOME - TBMC Ltd warmly welcomes to our riverbank community the very many of you who have recently purchased your riverside property. We wish you many years’ future enjoyment.
DO WE HAVE YOUR CORRECT CONTACT DETAILS? We do our very best to keep track of all two hundred and twenty leaseholders, shareholders and customers of the Company. Please help us to help you by ensuring that we have your correct, current contact details – postal address, email address, telephone number and mobile number. If, for whatever reason, TBMC has no record of your contact details, (and it may well be the Company that is at fault), please provide them at your earliest convenience. Thank you.
DATA PROTECTION – The new General Data Protection Regulation legislation comes into force on 25th May, 2018. These new laws will directly affect Thurne Bungalows Management Company Limited. The GDPR provides much tougher punishments and judicial remedy for those who fail to comply with new rules regarding the storage and handling of personal data, be it in physical or electronic format.
TBMC maintains a single, digitalised database with the names, email addresses, telephone numbers and postal addresses of each of its suppliers, directors, leaseholders, shareholders and customers. The information is stored on TBMC’s Managing Agent’s computer only. The database is only available to the Company’s Managing Agent and cannot be accessed by anyone else. It does not exist in paper form. The database is never shared with, nor released to, any third party for any reason whatsoever. Without exception, your personal details are only ever passed to a third party at the third party’s specific request and only then if you have provided prior written consent for your personal details to be passed to a third party. As a TBMC Ltd leaseholder/shareholder/customer, you have the right to access the personal data the Company holds about you at any time.
As a limited company, TBMC Ltd is additionally, statutorily obliged to maintain a register of its shareholders, which it does electronically. Under Company Law, this register is in the public domain. Any member of the general public can obtain a copy of it direct from Companies House. However, TBMC Ltd only provides Companies House annually with its shareholders’ names. No other personal contact details are ever sent by TBMC Ltd to Companies House.
REFUSE COLLECTION SERVICE 2018 – After a hugely successful year, I am pleased to inform you that Directors have renewed the Company’s contract with River and Domestic Services for a further two-year period. On your behalf, the Company has expressed its gratitude to Phil and Mike (RDS) for providing an excellent service – often beyond the call of duty.
INCREASED MANAGEMENT COSTS – Having spent the last three years reducing your annual service charge bills by cutting the Company’s overheads to the bone, as we warned this time last year, Directors have, this year, been forced to increase your invoice to reflect increases in its running costs. For the vast majority of you, this will still represent a lesser sum than you were paying four years ago.
CONTINGENCY FEE - Directors have also introduced, this year, a £2,000 contingency charge element to the service charge in an attempt to meet unforeseeable, and therefore unbudgeted, expenses associated with the operation of the Company’s barge, Louise.
NEW ACCOUNTANTS – At the end of last year, Cooper & Dean informed the Company that, for personal reasons, they were unable to continue to provide the Company with its accountancy and bookkeeping services. As a result, TBMC Ltd has appointed the Norwich based chartered accountants, Argents, to pick up the reins. We look forward to working with Stewart Davy of Argents. As a direct result of the new appointment of accountants, the Company’s bookkeeping is being brought in-house.
In appointing new accountants, TBMC Ltd has taken the opportunity of instructing Argents to investigate the Company’s operational status with Her Majesty’s Customs and Revenue. Since it was founded, TBMC Ltd has been classed, by HMRC, as a trading company - because we charge customers annually for both a refuse collection service and a cesspit emptying service. Directors have instructed Argents to investigate the possibility of persuading HMRC to re-classify TBMC Ltd as a mutual rather than a trading company. Mutual companies are able to retain profit without having to pay Corporation Tax on it. At the moment, any monies collected from you and not spent at the end of each financial year is classed as profit and attracts Corporation Tax at 20%
TBMC LTD DIRECTORS – At the 2017 Annual General Meeting, with more candidates offering themselves for election than there were vacancies, a ballot was conducted. As a result, TBMC’s 2018/19 seven Directors are:
- Keith Bacon - non-leaseholder and non-shareholder
- Geoff Beck - R43 leaseholder and TBMC Ltd shareholder
- Jonathan Brundell – M6 leaseholder (B Lease) and non-shareholder
- Keith Kittle - M33 leaseholder and TBMC Ltd shareholder
- John Mules - PH96 leaseholder (B Lease) and non-shareholder
- Keith Robotham - L1D leaseholder and TBMC Ltd shareholder
- David Sanford - non-leaseholder and non-shareholder
The Board warmly welcomes Jonathan Brundell as a newly elected Director to the Board. Jonathan owns a Lease B bungalow on the Martham bank and brings a wealth of work experience to the company.
At its first Board meeting after the 2017 AGM, the Directors re-elected me as Chair of the Board and Keith Bacon and Keith Kittle as joint Vice Chairs. Unless re-elected, we each hold such office for one year only .
RETIREMENT – At the February Board meeting, I informed my co-directors that I would be retiring as a TBMC Ltd Director at the October, 2018 AGM. Subject to the Board’s approval, I have offered to continue as the Company’s managing agent until March 2020, when my next annual contract will expire. Given the length of notice, I am confident that the Board will appoint a successor managing agent who is fully trained prior to commencing duties.
2018’s BOARD MEETINGS - Board meetings are open for all TBMC Ltd shareholders and any of its customers who may wish to attend as observers. Meetings are arranged, in November, twelve months in advance and provisional dates, times and venues are posted to TBMC’s website, www.tbmc.me.uk
Please note that, occasionally, there are items on the agenda which may contain confidential issues. In such circumstances, all observers and attendees will be asked to leave the meeting at the meeting’s formal close. Directors alone will then reconvene in camera.
NEXT YEAR’S TBMC LTD DIRECTORS - In accordance with TBMC’s Articles of Association, one third of the number of Directors for the time being are required to retire by rotation from the Board at the Annual General Meeting in each year. At the October 2018 AGM, Keith Bacon and Keith Robotham, having served longest in office since each was last elected, in accordance with the Company’s Articles of Association, both will be required to retire by rotation from the Board. Both will be eligible for re-election if they so choose.
At this year’s AGM, on Saturday, 27th October, there will, at the time of writing, therefore, be three Board vacancies to fill – two retiring by rotation and my own, elective retirement. The Board actively encourages shareholders to nominate their own prospective candidates to serve, if elected, as active Directors of TBMC Ltd. Nominees do not have to be shareholders in the Company. A nomination form is always available to download from TBMC’s website, www.tbmc.me.uk Please note, however, that statutory time limits apply.
Reminder: None of the Company’s Directors receives payment of any kind for the invaluable knowledge, experience, skill and commitment that each brings to the Company. None currently chooses to claim any expenses whatsoever.
TBMC’s WEBSITE www.tbmc.me.uk - The Company freely acknowledges that the vast majority of you probably have little more than a passing interest in how Thurne Bungalows Management Company Limited conducts its business in your interest and on your behalf. You will have purchased your riverside property for your family and friends’ enjoyment, or purely as a commercial venture. Understandably, you have no wish to get involved in leasehold property management issues. For those of you, however, who may be interested in how the Company is managed, TBMC’s website, www.tbmc.me.uk, is a veritable mine of useful information. Please take the trouble to register full membership.
ANNUAL SERVICE CHARGE INVOICE PAYMENTS – Last year was the best year ever for service charge payments received on time. Thank you. Your annual ground rent (Lease A plot owners only) and service charge invoice accompanies this newsletter. As always, please ensure that your bill is paid promptly. Chasing up non-payment, or late payment, costs everyone additional service charges.
PLOT INSPECTIONS – Our riverside properties appear to be improving annually with several bungalows being completely renovated and/or refurbished. Congratulations are due to the vast majority of bungalow owners where maintenance standards are constantly improving.
Directors are required by the Company’s Headlease to ensure that all of the Company’s Headlease and Underlease covenants are being observed by all A leaseholders. The annual inspections of all Lease A plots will take place during July 2018. At those plots where it is judged that lease covenants may not be being observed, leaseholders will receive formal written notice advising them of required rectification. Directors will pay particularly attention to quay headings, including those to boat dykes, and to bungalow and general plot appearance. With quay headings, the judgement criteria are soundness and fitness for purpose. For bungalow and plot appearance, it is tidiness which is judged. Directors freely acknowledge that these are subjective assessments. Inspections are conducted from the river and from the public footpath. Directors will never enter your plot without written notice first being served.
It is the responsibility of the Environment Agency to enforce the Lease B covenants. Those with freehold plots are not inspected by anyone.
REFUSE COLLECTIONS/CESSPIT PUMPOUT REQUESTS – If you have lost, or mislaid, your refuse collection/cesspit empty request letters - ‘E’ and/or ‘R’ - new replacement letters are available for collection, free of charge, from the Managing Agent at Tower View (PH64) or by request direct from RDS (Phil and Mike), on board Louise during collection days.
ANGLIAN WATER LICENCE TO DISCHARGE TO A PUBLIC FOUL WATER DRAIN - UPDATE – At the end of February, 2017, TBMC received a draft Agreement from Anglian Water whereby AW would begin invoicing TBMC Ltd for emptying cesspit tanks into the public mains drainage sewerage system at its boathouse at PH53. TBMC knew, when it first connected PH53 to the public drainage system, that an annual AW bill would arrive one day.
No Agreement has yet been signed. Under AW’s proposed Agreement, TBMC will be charged roughly £10 per cubic metre of sewage that it pumps into the public drain. AW’s current proposals would increase the cesspit-owning bungalow owners’ service charge invoice by about £10.00 per pumpout. Anglian Water’s proposal is that the volume of sewage will be measured by a volumetric meter which TBMC is required to supply, install, maintain, and read and report at monthly intervals - all at its own, additional cost. The draft Agreement has been returned to AW for negotiation on both the proposed charges and on the proposed means of billing.
LEASE TRANSFERS – If you are thinking of selling your Lease A bungalow or mooring plot, please note that you need TBMC’s prior written consent before you can assign/transfer the lease. It will help to speed up the process of lease transfer if you remember to notify TBMC Ltd.’s Managing Agent at the earliest possible stage in your selling process that your riverside property is being offered for sale. At the same time, please make sure you provide your conveyancing solicitor with both your lease document and your share certificate(s). You may need to inform your solicitor that a stock transfer process is additionally involved and that a Stock Transfer Form has to be completed and sent together with the original share certificate(s) to TBMC Ltd.
Lease B owners, or solicitors representing them, should contact the Environment Agency, as lessor, at the earliest opportunity, for its consent to transfer the lease.
EMAIL CORRESPONDENCE – TBMC Ltd is constantly striving to improve its communication with you. TBMC uses MailChimp, a bulk emailing platform, to keep you all informed and updated. It is possible that some of you may not be seeing these emails posted to you because your webmail provider places all such incoming mass emails direct to your spam folder, or to your promotions folder, rather than to your inbox. Please check your other email folders frequently, so that you do not miss what may be important messages or news. Provided your email service provider enables it, if you mark TBMC’s emails as “Not Spam” all future TBMC emails should routinely appear in your Inbox.
SMS TEXT MESSAGING SERVICE TO CUSTOMERS – Provided TBMC Ltd can persuade enough of you to provide it with a mobile phone contact number, (we currently only have 72 numbers for 216 TBMC Company customers), the Company will re-introduce its text messaging service additionally to keep you up-dated with important riverbank announcements.
AND FINALLY, a plug for our parent organisation, the River Thurne Tenants Association. The RTTA was founded in 1948 to ‘further, protect and enhance members’ interests’. This year, on Sunday, 5th August, 2018, the RTTA will mark the 70thAnniversary of its invaluable service to Thurne property owners. The RTTA’s website www.rtta.me.uk will show details of how this milestone in its history is being celebrated. The RTTA’s website is very informative and covers just about everything that TBMC’s site does not.
The RTTA also has a recently inaugurated, closed Facebook group. Current Facebook account holders should enter ‘RTTA’ into the SEARCH box on the Home page to apply to join. You will then be required to supply your bungalow and/or plot number in order that your application to join is accepted.
On the Company’s behalf, may I wish each and every one of you a wonderful forthcoming season, and many more of the same to come.
David W Sanford
Chairman and Managing Agent
March 23rd 2018
The Company's History
Thurne Bungalows Management Company Limited was incorporated in 1986 as a private company limited by shares. The Company was founded by the River Thurne Tenants Association http://www.rtta.me.uk (an Association dating back to 1948) in order to purchase from Anglian Water a ninety-nine year Lease on one hundred and eighty-five Thurne riverbank plots in the Norfolk Broads parishes of Potter Heigham, Ludham, Repps with Bastwick and Martham. The RTTA could not purchase the Lease on behalf of its members because it was not an incorporated body and, therefore, had no personality in law. Without a status in law, it could not enter into any legally binding contract.
Having purchased the Lease for £405,000, TBMC Ltd then sold Underleases - at substantially the same amount - to one hundred and eighty existing tenants. Since 1986, TBMC Ltd has managed its leasehold plots as a non-profit-distributing company.
TBMC Ltd currently has 184 shareholders, each being a bungalow or mooring plot leaseholder. The leaseholder of each plot is obliged to purchase one Ordinary share in TBMC Ltd. A second class of share with no voting rights was issued by the Company in 1993 to raise cash .
Thurne Bungalows Management Company Limited
Reg Office: 2 Swanns Yard, Worstead, North Walsham, NR28 9RP
Company Registered in England and Wales No 01878622