Fairacre Management Limited

Owners of all 24 properties are shareholders in Fairacre Management Limited (FML) and appoint directors to that company. 

The duties and powers of the directors are laid down in the Memorandum and Articles of Association of the company. They have the legal duty for overseeing its finances and are responsible in law for returning accounts to Companies House every year. 

FML is responsible for the maintenance of the estate and for the external fabric and communal areas within the flats. These responsibilities are detailed in the individual Deeds (houses) or Leases (flats). Any changes to the estate infrastructure or to the external elevations or other features (windows, doors etc) of the buildings, are subject to the agreement of FML and as such, any changes as outlined above, must be submitted to FML or the managing agents.

Currently there is a board of three Directors, appointed from the Shareholders of the company. The Board meets at least four times a year. In addition, an Annual General Meeting is held, to which all shareholders are invited.

Up until 2017, the directors of Fairacre Management Limited, very much on a voluntary and unpaid basis, undertook the estate management. However, with the onerous new rules and regulations in running a small estate like Fairacre, it was decided, by the board, to appoint a professional managing agent, who would take responsibility for the day to day running of Fairacre.

Since 2017/18 Grace Miller (GM) are the appointed managing agents and act as the Company Secretary for FML.

Fairacre Management Limited is registered in England & Wales, registration number: 01601729