What You Need to Know
Dear All,
We’re writing to update you on two very important developments at Maltings Close.
- Shocking governance failures uncovered at TTMC and Urang’s appointed accountant.
- Reminder to check your post for our printed newsletter and take action if you haven’t already signed up.
Please take a few minutes to read both stories — together they show why our fight for fair management is so important.
📑 ICAEW Disciplinary Finding – Urang’s Accountant for TTMC Fails to Attend
Residents have been left shocked by revelations about how our building’s service charge accounts have been handled.
The accountant appointed by Urang Property Management to act for Twelve Trees Management Company (TTMC) — the company responsible for managing our estate — did not attend the recent ICAEW disciplinary proceedings.
Nevertheless, the ICAEW upheld the allegations, issued a severe reprimand, and imposed a financial penalty on the firm.
🔎 Summary of the ICAEW’s Findings against TTMC Accountant
- Misstatement of funds: Certified incorrect figures for money held on trust for leaseholders, overstating deficits and/or understating surpluses.
- Serious breach of standards: Failure to exercise due skill and care, failure to maintain appropriate records, and breach of integrity and professional competence.
- Regulatory action: Severe reprimand, financial penalty, and costs order imposed.
- Accountant absent: Did not attend the hearing and left the findings uncontested.
This is the same accountant who prepared and certified the Maltings Close accounts on behalf of TTMC via Urang, raising the risk of similar misstatements in our accounts.
🏛 Governance Failures at TTMC
At the time Mr Michael Ball FCA was appointed, Andrew Cregan — who signed the Urang contract on behalf of TTMC — had also fired L&Q as Managing Agent with only seven days’ notice, without approval from the majority of leaseholders.
Mr Cregan publicly presents himself as:
Director, Trustee & Governance Lead at House Mill Trust | Former Policy Spokesperson (Retail, Energy, Finance) | Lib Dem, ex-Councillor & PPC (Blackpool & Tower Hamlets) with over 20 years’ experience.
Given his governance role at House Mill Trust (a local charity many of you know), residents were entitled to expect competent oversight at TTMC. Instead, we saw:
- Lack of governance
- Large, unexplained demands on service charges and reserve fund
- ICAEW findings confirming mismanagement suspicions
🚔 Criminal Investigation
We understand that Mr Cregan and other TTMC directors remain under criminal investigation for fraud and other white-collar offences.
The Maltings Close Residents’ Association (MCRA) is assisting the authorities and providing evidence through our forensic accountant, whose findings are being passed to investigators.
💰 Why This Matters
If the accounts are wrong, it means residents have paid money we shouldn’t have.
Our analysis suggests that in 2022 alone, each leaseholder and shared owner could have been overcharged between £1,000 and £4,000.
We are pushing hard to:
- Take control of our building’s management
- Stop these practices
- Recover what’s rightfully ours
📥 You can download the ICAEW decision via the original link below.
📬 Check Your Post – Important Information About Changing Management
All residents should by now have received a printed invitation to participate in the RTM (dated 25 September 2025).
This sets out:
- The Right to Manage (RTM) invitation
- Urgent action steps
Most leaseholders have already signed up online.
👉 But this is a particular appeal to shared owners, who are also entitled to vote and should register.
Please:
- Read the newsletter carefully
- Scan the QR code or use the link provided to sign up
- Make sure your voice counts in the new resident-led management structure
The more residents and shared owners who register, the stronger our position in taking control and ending TTMC/Urang’s mismanagement.
With best regards,
Maltings Close Residents Association (MCRA)