📅 June 2025
Dear Residents,
We are writing to update you on the extensive actions taken following the release of the 2023 leaseholder accounts, which continue to show serious financial and governance failings. Here’s where things stand:
1. 💸 £493,000 Reserve Fund Error Still Not Corrected
Despite confirmed investigations showing a £493,000 surplus in 2022 (not a deficit), the 2023 accounts still reflect the incorrect figures. This remains a significant, misleading error.
2. ❌ Missing Sink Fund Contributions
Several expected contributions to the reserve fund are missing from the 2023 accounts, with no reconciliation or explanation provided.
3. 📦 Duplicate Container Charges
Residents were charged again in 2023 for the container office — even though TTMC and Urang previously confirmed it was fully paid for in 2022.
4. ⚖️ Overcharged and Unlawful Management Fees
- Management fees are still being charged for Block A, which has been sold.
- There is no valid or executed management agreement between Urang and TTMC.
- The last agreed fee (£225 + VAT = £270 per flat) expired in May 2022.
- 2023 accounts now show £418.15 per flat — which is not contractually justified.
5. 🔎 Regulator Complaints & Investigations Underway
- FCA Complaint: Filed for Urang’s lack of transparency over service charge funds.
- TPI Adjudication: An independent adjudicator is now investigating Urang’s conduct.
- ICAEW Complaint: The new accountants failed to correct known errors — and TTMC Director Tom Squires signed off the accounts anyway.
Notably, the previous accountant closed his company on the same day the regulator contacted him and has since avoided authorities.
6. 🔥 Tri-Fire and EWS1 Issues Escalated
We have formally asked L&Q to recommission the Tri-Fire EWS1 and fire risk assessment — in line with their public commitment. They failed to respond.
We have now escalated the matter to the Housing Ombudsman and plan to raise it in the media to ensure accountability and resident safety.
💥 We Are Not Sitting Back — We Are Fighting Back
Our team continues to take action across multiple channels — legally, regulatorily, and through the Tribunal — to correct these failures and protect residents’ money and safety.
We will not stop until:
- Errors are corrected
- Responsible parties are held to account
- Residents get the transparency and protection they deserve
Thank you for your continued support.
Maltings Close Residents’ Association
Fighting for transparency. Fighting for accountability. Fighting for you.