Locking Parklands Community Interest Company

The Company is not a trading company. The principal activity of the company is the management of land and property and the operation of a community facility at Locking Parklands. As part of the management of that land and property, service charges are collected from lessees to meet the costs of managing and maintaining the land and property. Service charges are held in trust for the benefit of the lessees. Accordingly, the service charge income and expenditure is excluded from the company’s financial statements and separate service charge accounts are prepared. Income and expenditure associated with the operation of the community facility can be seen in the Company’s financial statements. The company is limited by guarantee and therefore has no share capital.