The 2022 accounts closed with a deficit of £ 68,068 resulting from the unprecedented price increases of gas and electricity.  Looking ahead, the 12.5% service charge increase approved during the AGM held on 12th May 2022 will suffice to cover the expected recurring costs of this building, particularly as RMD have managed to negotiate more favourable contracts for 2023 and 2024.

The conclusions of the detailed analysis carried out McBains for the overhaul of our heating and cooling infrastructure were presented, with the discussion focusing more specifically on the need to replace the current pipework that feeds the convectors in each flat.  The replacement of these pipes represents a significant portion of the project’s total cost estimate.  The AGM approved the proposal to start collecting the funds for this project as of Q4 2023 (invoice issued in late September), but asked for a summary report comparing the pros and cons of the proposed solution (water fed Jaga convectors) with an alternative solution based on split-system reversible air condionners fed compressors located on the building’s roof.

This comparison will be possible once the detailed audit of each flat has been carried out the engineers (during this summer).