Glossary

An Administration charge is any money the landlord demands from the leaseholder for granting approvals under the lease, for the provision of information or documents, for dealing with a failure by the leaseholder to pay ground rent or service charges, or in connection with a breach of the lease.

The Annual (yearly) accounts are usually described as 'financial accounts', 'company accounts' or 'statutory accounts'. The main aim of yearly accounts is to present a comprehensive report of the financial activity of your limited company during its latest financial year.

Money that is owing by one party to another. This will usually be an amount owing by a leaseholder to a landlord which is payable under the lease, such as ground rent or a service charge.

Written rules about running the company agreed by the shareholders or guarantors, directors and the company secretary.