The shareholders of the company are all current leaseholders at 35 Coombe Road. The freehold of this
property was purchased by 35 Coombe Road (Freehold) Ltd in 2018 under lease enfranchisement procedures, so that the leases could be extended to 999 years and the ground rents reduced to a peppercorn. It is expected that this will be completed in 2019, at which stage the value of the freehold and the corresponding creditor will reduce to zero.
No service charges or ground rents were collected by the company in 2018. Some costs were incurred, which will be recovered from the 2019 service charge. These are included in debtors.