SBMC
Governance
South Barracks Management Company (SBMC) is a private company limited by shares, established on 7 April 1998 by Clublight Developments Ltd. It is a legal entity defined by its Memorandum of Association and Articles of Association.
Companies House is the Government Agency which requires, examines, stores and makes publicly available information about all companies in the UK. SBMC is required to submit details to Companies House, and is monitored by them.
Professional Advisors are external firms such as accountants and solicitors.
The Board is responsible for the governance of SBMC. Its central role is to direct and control the organisation, determining its strategic direction, monitoring its performance, assessing risks, and setting budgets. There is currently one Board Director, Jonathan Fay (Clublight) who owns the single controlling 'Redeemable Class A Share'. Once the 'A' share is redeemed, the Board will be run by Resident Directors on behalf of the residents. Until then, it is being operated in an identical fashion by a resident shareholder team acting as quasi-directors - appointed at the last Residents Meeting held in November 2005. There are currently 15 Directors Designate, and a 16th resident has recently applied for membership.
Sub-committees are advisory groups of residents who advise the Board on special aspects. There are currently three - a Communications Sub-committee advising on all aspects of communication between the Board and residents; an Environment Sub-committee covering the communal environment, from soft landscaping to roads, street lighting to parking, non-private walls to communal buildings and signage; and a social group interested in organising and supporting social events. All residents are welcome to join a sub-committee.
Managing Agent - Professional managing agent, GEM Estate Management Limited, currently undertake management of day-to-day issues and administration of estate matters under the direction of the resident Designate Directors. This includes collection of the annual maintenance charge.
Contractors service the estate under the supervision of the Managing Agent. These currently include, or are likely to include, landscaping maintenance / road cleaning, and street lighting, paving, tree maintenance, etc.
Residents - there are 116 resident shareholders who, after the handover, will own SBMC and who entrust SBMC to maintain the visual quality of our shared environment and to maintain the all-important infrastructure of roads and services upon which we all depend. The annual operating budget devised by SBMC is spread evenly between all residents.
The Estate - the final piece of the jigsaw - refers to the common parts of South Barracks which constitute the basis of the land management role of SBMC. The land is currently owned by Clublight, but the freehold ownership is to be transferred to SBMC - almost in place!
NOTE: There are also three other limited companies on the estate with specific responsibility for the common parts of Mountbatten House, Ramsey House, and The Old Gymnasium.