Company Security & Longevity
Although the company regularly provides commuted sum calculations based on a 20 year maintenance period it fully accepts that it will be responsible for the management of adopted open spaces in perpetuity.
Consequently, to ensure that this is both achievable and sustainable, the company, in association with chartered accountants Griffith, Williams & Co., has developed a formula to calculate on-going and future management costs, incorporating projected inflation and interest figures.
In addition, through its sister companies, Tirlun Land Management & TLM (Investments) Ltd, the company is able to call upon expert advice in the areas of landscape management and financial investment.
Tirlun Land Management Ltd
Tirlun Land Management Ltd is a sister company dealing wholly with the management of landscape areas on behalf of Tirlun Ltd. It has a wide range of specialist sub-consultants and contractors and is responsible for the day to day landscape management of landscape areas adopted by Tirlun Ltd.
TLM (Investments) Ltd
TLM (Investments) Ltd was specifically created as a financial investment sister company to Tirlun Ltd. The purpose of the company is to ‘ring-fence’ commuted sums on behalf of Tirlun Ltd and carefully invest them to produce a monthly or annual income which facilitates the on-going management responsibilities associated with specific areas of adopted land.
Tirlun Ltd understands the concerns of developers regarding the security and longevity of companies chosen to carry out these long-term responsibilities and it has been proactive in trying to alleviate these concerns when considering the company as a partner in management services.
By transferring commuted funds to TLM (Investments) Ltd the developer is reassured that these are solely used to meet site specific maintenance obligations, are ring-fenced from the trading operations of Tirlun Ltd and consequently protected from liquidation, receivership or administration. Additionally, the legal documentation created between the developer and Tirlun Ltd ensures that these obligations could continue through the relevant manager of the company via a sub-contractor.
It is believed that, through the company’s commitment to providing a quality service with public interest at heart, underpinned by specialist supporting sister companies, Tirlun Ltd is able to provide a tailor made and sustainable landscape adoption and management service.
Furthermore, the company has arranged both life insurances and business continuation mechanisms to ensure that it is able to operate in perpetuity and such measures have been checked and implemented by Tirlun Ltd’s legal advisers to ensure that they are viable.
We are willing to provide further information on any of the above if required, Including: further information regarding structure & safeguarding issues and legal information on the enforceability of the obligations Tirlun Ltd contracts to undertake.