A clearer financial picture for the whole building.
We review budgets, actual spending, reserve funds, supplier costs and the supporting information provided by the managing agent, bringing the key figures and outstanding questions together in a format directors and residents can understand.
Document-based financial review and general information only. This is not a statutory audit, bookkeeping service or legal opinion.
Designed for:
- RTM directors
- RMC directors
- Residents’ associations
- Informal leaseholder groups
- Blocks reviewing their current management arrangements
- Directors preparing for a board or residents’ meeting
- Directors who want a clearer view of how building expenditure has been reported and explained
Documents to send
Upload as many of the following as are available:
- Annual budgets
- Year-end service-charge accounts
- General ledgers or expenditure reports
- Supplier lists
- Selected invoices or supporting schedules
- Reserve-fund statements
- Major contracts
- Management agreements, where relevant
- Major-works accounts
- Previous-year comparisons
- Board or financial reports
- Questions already raised with the managing agent
- Explanations or responses from the managing agent or accountant
- Arrears information, where relevant and lawful to share
Areas the review can cover
The exact scope depends on the documents available and the review agreed with you.
- Budget-to-actual performance
- Significant changes in expenditure
- Supplier concentration and recurring supplier costs
- Repeated or unusual expenditure
- Reserve-fund contributions, withdrawals and balances
- Major-works expenditure
- Management and professional fees
- Unplanned or overspent items
- Figures that do not appear to reconcile across documents
- Supporting information available for significant costs
- Areas where explanations or documentation appear incomplete
- Questions raised with the managing agent and the responses provided
- Recurring issues across more than one accounting period
- Information that may help directors explain the financial position to residents
Managing-agent reporting and accountability
Where relevant, the review can examine the financial information and supporting documents provided by the managing agent and how significant costs, changes and resident or director questions have been explained.
We can identify unanswered questions, missing supporting information, inconsistencies between documents and areas where further clarification may be useful.
Your report
You receive a written report setting out, depending on the agreed scope:
- Executive summary
- Main financial movements
- Budget-to-actual comparison
- Significant cost categories
- Supplier and management-cost overview
- Reserve-fund summary
- Material changes across accounting periods
- Key questions and information gaps
- Supporting documents that may still be required
- Questions to consider raising with the managing agent or accountant
- Suggested areas for directors to prioritise
- Resident-friendly summary, where included in the agreed scope
Built for clearer oversight
The purpose of the review is to help directors and resident groups understand the financial information already available to them, identify where further explanation may be needed and bring the main issues together before discussions with managing agents, accountants or other professionals.
It does not assume that unusual expenditure is incorrect or that every unanswered question indicates a problem.
What the review is not
The Block Financial Review is not a statutory audit and does not provide assurance that accounts are complete or free from error or fraud.
VeraHold does not provide bookkeeping, accounting assurance, legal advice, property-management services or professional surveying advice. The review does not determine whether a managing agent or director has complied with a legal, contractual or fiduciary duty.
Where a matter requires regulated professional advice, we will identify that limitation and recommend obtaining the appropriate specialist input.
Request a quote
Block reviews are priced according to the size of the building, number of accounting periods, document volume, complexity of the review and required outputs. We confirm the scope and price before the review begins.