Have you ever thought about becoming a resident director of Garden Mews?
We need more directors!
A quick search on Companies House shows that we only have two resident directors at present and they have been directors for over 15 years now. During this time, there has been no fresh thinking injected into how Garden Mews and decision-making transparency is low. With one of the directors living abroad, Garden Mews is literally run by one active director only.
As a resident director, you have many responsibilities and decisions to make that keep Garden Mews functioning and make it a pleasant place to live. These decisions are currently being taken by two people on behalf of 25 apartments and over 40 residents. A small minority shouldn’t be in this advantageous position.
Here are some of the key areas of responsibility and decision-making that you may be involved in:
- Corporate governance: You are responsible for ensuring that the company complies with legal and regulatory requirements, including filing annual accounts and maintaining accurate records.
- Financial management: You may be involved in decisions related to financial management, such as approving budgets, monitoring cash flow, and making investment decisions.
- Strategy and planning: You may participate in strategic planning and decision-making, including setting goals and objectives, identifying opportunities and risks, and developing plans to achieve the company’s objectives.
- Risk management: You are responsible for identifying and managing risks that could affect the company’s performance or reputation, including legal, financial, operational, and reputational risks.
- Stakeholder relations: You may be involved in maintaining relationships with key stakeholders, including shareholders, customers, employees, and regulatory bodies.
Being a resident director in the UK requires a high level of responsibility and a commitment to act in the best interests of the company and its stakeholders at all times. As a Garden Mews director, you have a vested interest in the decisions that are made. For this reason, we will all benefit if we have more directors involved in scrutinising decisions, making sure the management company manages for all, and not for one.
In diversity there is strength. Having owner-occupiers and landlords working together as directors will create a superb opportunity for Garden Mews to flourish.
Want to know how to become a Garden Mews Management Co. director? Here is the information you need to know….
- Anyone granted a lease by the freehold developer (Hicks) can register to become a director.
- There is no maximum number of directors. However, we are currently operating on the legally permitted minimum number of two directors.
- To become a director, you must either be nominated by an existing director or nominate yourself.
- This is where it gets tricky, if nominating yourself, you only have a small window of opportunity. You must give ‘not less than fourteen, and no more than thirty-five clear days notice’ that you wish to propose yourself as a director, ahead of the general meeting. Given that general meetings can be called with a minimum notice of 21 days, that in theory only gives you a window of seven days to put your proposal forward.
- If proposing yourself, you should make your proposal to the company. I would suggest that this is done via the managing agent (Chaneys) who works on the company’s behalf to manage the Garden Mews estate.
- Full details can be found in the Incorporation Certificate which you can download below.
Now you know what to do, why wait? Start planning how you can make a difference as a director.
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