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Saddle Mews Residents Association

How we helped a newly formed residents association form their own management company

"In July 2024 SMRA completed the purchase of the freehold and for the first time in the history of the village the entire estate came under the management of its residents"

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Background

Saddle Mews Village was built in the late 1980s exclusively for residents over 50. Residents are able to buy leaseholds in the Village, with the village itself overseen by an onsite warden on behalf of a management company owned by the freeholder based in the UK.

Dissatisfied with the service levels from the freeholder, residents of the village formed their own management company (SMRA) 6 years ago, taking over partial responsibility for the village.

Over time the popularity of the village running it’s own management company grew and in 2023 the opportunity arose for SMRA to buy the freehold entirely.

Ask our expert

Adam Hudgeon

Business Development Manager

How Yellowstone Accounts Helped

It would be easy to say “we did some accounts” but the honest answer is that the Yellowstone IT team, marketing squad and our relationship team all got involved to get this nine month project over the line.

1. Accounts >>

We produced 5 years accounts in just two weeks in order to meet the discovery requirements of the negotiation.

2. Quickbooks >>

We helped transfer their new transactions onto the Quickbooks online accountancy platform making their accounts management easier moving forward.

3. Branding >>

Designed the association a logo and produced some headed paper for their letters back and forth with the freeholder.

4. Web Design >>

We registered them a URL, set up their branded emails and designed/launched their website to give them a real presence.

5. IT Equipment >>

Sourced and set up their onsite IT equipment so they could run the village from their office.

6. VAT Registration >>

Dealt with the VAT office and companies house submissions.

7. Business Admin >>

Re-wrote their articles of association, which were not fit for purpose following the completion.

8. Payroll >>

Registered them as an employer, providing them with their first contract template and overseeing their payroll.

9. Curve Balls >>

Worked with them to complete several “first time set up” tasks like insuring the village and sourcing contractors to renovate the site.

The outcome?

In July 2024 SMRA completed the purchase of the freehold and for the first time in the history of the village the entire estate came under the management of its residents with the ongoing accounts, marketing and IT overseen by the team at Yellowstone Accounts.

"We needed so much more than an accountant, we needed a partner that could help us face all the new challenges that came with buying the village"

Anne-Marie

Director

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help@yellowstoneaccounts.com

Head Office

Design House, Hills Meadow Industrial Estate, Douglas, Isle of Man, IM1 5EB.

Monday-Friday: 09am-6pm

(+44) 1624 820603

Yellowstone Accounts Limited is registered with the Isle of Man Information Commissioner (registration number R003790)