Governance of The Homestead Estate Limited

The Homestead Estate Limited, registration number 9666R, is registered under the Co-operative and Community Benefit Societies Act 2014.

The Society was initially registered under the Industrial and Provident Societies Act, 1893 on 12th March 1923.

The above Acts require a society to have a set of Rules which define the objects of the society:

  • who qualifies as a member of the society
  • the methods for managing and maintaining the society
  • the methods for fulfilling its legal and accounting duties

The Rules of The Homestead Estate Limited also incorporate the restrictive clauses from the Indenture when the land was purchased by the Society.

One misleading aspect of these Acts is that they require the title of any registered society to have the word “Limited”  included in its title.  This gives rise to confusion with people thinking that The Homestead Estate Limited is registered at Companies House.

The Society is not a limited company and is not registered at Companies House.

The object of the Society is to carry on the business of maintaining and improving the amenities of The Estate with particular regard to the upkeep of the roads and the nature, size, shape and position of buildings erected within the boundary of The Homestead Estate Limited.

Each plot owner automatically becomes a Member of the Society on the purchase of their home.  Joint owners of a plot count as one Member.  Every Member holds one share in the Society for each plot owned.  A Member cannot withdraw from the Society.  A share in the Society is nullified on selling of the plot.

A Rule that is fundamental to the Society in achieving its objects is that any and all plans for building works on the Estate are inspected, considered and either approved or otherwise by the Society prior to any construction taking place.

In order to help the Members whilst planning any building work a document has been drawn up by the Society which is entitled “Guidance for Members on the approval of plans for building developments”.  At the time of applying for building permission a form entitled “Request for Approval of Building Plans” must be completed and signed by the Member as well.

The absolute Rule, that is enshrined within all the deeds of Members of the Society, is only one dwelling-place per plot.

The cost and maintenance of the roads within the boundary of The Homestead Estate Limited is divided into equal parts amongst the Members according to the number of plots held.

The plot holders elect every year from its Members, a Chairman and eight Committee members (the Committee) to administer the business of the Society.  This takes place at the Annual General Meeting and the Audited Accounts are presented as well.  Also at the AGM the amount of the annual Levy is announced, which is set by the Committee, in order to carry out the business of the Society.  Should there be a surplus at the end of the year from the Levy, the monies will be held by the Society for future use

Each Member has one vote on each proposal at the AGM or a General Meeting.  The latter may be held at any time during the year provided the notification of that meeting follows the format stated within the Rules. There are no proxy votes at any meetings.

The Committee are also responsible for ensuring that the Annual Return is forwarded to the FCA which include the Audited Accounts.

 

This is a brief résumé of the governance of The Homestead Estate Limited and how it is managed and maintained.

The Secretary of the Committee will forward to prospective buyers – on the request of the Member who is selling their plot – a copy of the Rules, Guidance for Members on the Approval of Plans and the document entitled “Request for Approval of Building Plans”.  Likewise the Secretary will also forward copies of these documents to solicitors and conveyancers upon request.

The Secretary may be contacted by email at secretary@homesteadestatemenston.co.uk