BHOEC was incorporated in 1980 when the Crown Estate handed over ownership of the 4.5 miles of roads and verges on both north and south sides of Fairoak Lane to the Estate Company following the conversion of most properties from Leasehold to Freehold.
The Company is limited by guarantee and cannot distribute money to members, except on winding up. All purchasers of property on the Estate are required to be members of the Company.
BHOEC is managed by a Board of Directors who are residents and who have given their services voluntarily. The Company does not have a business office. The day to day running of the Estate is currently undertaken by Messrs Huggins, Edward & Sharp, under the direction of the Company.
The objectives of the Company outlined in the Memorandum and Articles of Association include :-
(1) To manage, maintain, renew and repair the roads, verges and road drainage on the Estate.
(2) To preserve and improve where possible the existing amenities and character of the Estate as a first class residential private estate.
(3) To collect from each member, annual and other rent charges, subscriptions or levies as are necessary.
The Company’s financial year end is the 30th June. Audited accounts are sent out to members at least 21 days prior to the AGM which is normally held during January. Members may put themselves forward to be Directors. The meeting not only undertakes the more formal part of the Limited Company, approving accounts, appointing directors but also acts a forum for residents to express views or bring up matters re the running of the Estate.