Actuals

Actuals

Every February, we’ll send you an estimated breakdown of your service charges for the upcoming year. This estimate is based on the costs of services from the previous year.

In September, you’ll receive an 'actuals' statement showing the actual costs of services provided. You'll either be owed money by THCH, or will owe money to THCH.

On this page, you’ll find clear information about what to expect from us regarding your actuals.

How do we calculate service charge actuals?

Service charge actuals are based on the real costs of running and maintaining your building and neighbourhood over the financial year.

Leaseholders typically have a 'variable' service charge. This means the service charge may be adjusted at the end of the year if actual costs vary. This will be reflected in an 'actuals' statement in September.

You can find about what your service charge covers and how it's allocated on our dedicated page.

More information on service charges

Actuals statement

Your actuals are sent with your service charge statement. This statement is sent in three letters and will detail whether you're in credit or owe THCH. Below are details about what will be in the statement.

Your personal statement

Your letter includes three statements. The first statement is specific to your home and shows the charges for your property only. If you see a minus sign (–) in the variance column, it means we owe you this amount as a refund. If there’s no minus sign, it’s the amount you’ll need to pay.

Your building's statements

You’ll receive two statements about your building:

  1. The first statement shows the total cost of each service provided to your entire building. These costs are then shared equally among all residents.
  2. The second statement compares the income we collected (based on estimates) with the actual amount we spent on services for the building. This statement breaks down costs specifically for leaseholders and shared owners.

Actuals - FAQs

Why does a surplus or deficit happen?

If we estimated higher costs than what we actually spent, the extra amount (a surplus) will be credited to you. If we spent more than we estimated (a deficit), you’ll be charged the difference.

Changes in market can often cause the actual cost of services to be different from when we estimated them.

How can I review my service charge expenditures in detail?

Your service charge statement letter has a full breakdown of all costs and adjustments related to your property and building. If you'd like to discuss the charges, please get in touch with our Customer Services team.

Can I get a copy of the invoices?

Yes, leaseholders can request a summary of the service charge costs. Once we’ve received your request, we aim to provide the information within 30 days.

What do we do to make sure we manage service charges accurately?

We carefully manage service charges through budgeting, regular financial reviews, and audits to ensure everything is accurate. We’re committed to being transparent and accountable with how we handle these funds.