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Bank Accounts (also PLI)

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 Yith
(@yith)
Posts: 11230
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Okay... I hate working with money... If god had wanted me to work with money he would have made me an accountant and not an engineer! ;)

I had a meeting with my building society bloke about my savings (yawn) and mentioned as a side comment our situation...

It appears we need a Community Account and he mentioned that Barclays was quite good for this.

I've got a number of a guy at Barclays to ring, but I've yet to ring him up. I've done a search online for this stuff and it appears we need to appoint Treasurer, Secretary and Chairperson (etc) and it mentions we should get ourselves audited (etc)...

Now I've got no idea about all this stuff... before I start going any further, does anyone else have any experience with it?

If you don't then please post "I have no fecking idea"... at least then I'll know you've read this... :)


 
Posted : 28/03/2007 2:27 pm
Kermit
(@kermit)
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Co-op bank used to have a good reputation for such accounts, dont know if they still do - but got to be worth checking.

Apart from that, buggered if I know anything about the rest of it.


When we were a Kingdom it was run by a King
When we were an Empire it was run by an Empress
Now we're a country we're run by a..........

 
Posted : 28/03/2007 2:31 pm
 Yith
(@yith)
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I read something about the co-op bank on the web...

linky to account


 
Posted : 28/03/2007 2:37 pm
 Yith
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oh god... I downloaded the application form... its started to mention business plans... erm... ah... erm...


 
Posted : 28/03/2007 2:42 pm
HeadShot
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It's all about setting up a company with limited liability should things feck up and also covering of arses should one of us walk with the dosh.

That and partly to do with the taxman wanting to get his finger into the pie.

Personally I'd want to avoid all this and if necessary start to arrange deposits and transactions through sites rather than through us, as the sites are already registered companies with separate accounts this makes the most sense. Plus they have the relevant insurances in place.

It can get very complicated. If someone were to get injured, who would they try to sue? Is their contract with the site or us, or both?

Bleurgh.

S




 
Posted : 28/03/2007 2:54 pm
 Yith
(@yith)
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Hmmm... but then the sites have control of the money and the way things are booked...

Not good in my book.


 
Posted : 28/03/2007 3:02 pm
Kermit
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You dont want to go anywhere near a Ltd company for this. It's costly to set up, a beaurocratic nightmare, and costs a lot of money in accountancy costs. (I speak from experience).

There must be advisors for something like this....


When we were a Kingdom it was run by a King
When we were an Empire it was run by an Empress
Now we're a country we're run by a..........

 
Posted : 28/03/2007 3:12 pm
Old Un
(@old-un)
Posts: 6781
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Yep you don't need ot be a PLC, more a club type structure .


 
Posted : 28/03/2007 3:26 pm
 Yith
(@yith)
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Supporting documentation for a club from the co-op bank application form...

This was the bit I was unsure about above.

- A certified copy of your organisation


 
Posted : 28/03/2007 3:38 pm
HeadShot
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Yeah, limited company means legal advice means expensive.

What a load of cobblers all that stuff is about memorandum and articles of association, and why the hell do we need a business plan!?

Stick the money in a box under the floorboards and leave it at that I say. ;)

S




 
Posted : 28/03/2007 3:45 pm
Kermit
(@kermit)
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If your organisation does not hold a written rules and constitution document, please provide us with a letter confirming your organisation


When we were a Kingdom it was run by a King
When we were an Empire it was run by an Empress
Now we're a country we're run by a..........

 
Posted : 28/03/2007 3:54 pm
 Yith
(@yith)
Posts: 11230
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Yeah... I could manage that bit... :P

Its the business plan that I'm going to struggle with.

It seems to be a buzzword these days, but I never did do any business studies type stuff at school so I've got no idea!


 
Posted : 28/03/2007 4:04 pm
HeadShot
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That'll do.

No point in making work for ourselves. I'll add the necessaries around the paragraph so Yith can cut and paste.

---

Dear Sir/Madam

We are an organisation formed to offer players an immersive WW2 Airsoft experience on a non-profit basis.

Yours faithfully

Comrades in Arms.

---

As for the business plan:

Comrades in Arms Business Plan

Mission Statement: To offer players an immersive WW2 Airsoft experience on a non-profit basis.

We will do this by organising airsoft games and various official airsoft sites through the UK on an ad-hoc basis according to demand and the organisers' inclination to be bothered to do it, in order to offer players an immersive WW2 Airsoft experience on a non-profit basis. Any money made by Comrades in Arms in the form of non-refundable deposits, paid by booked players, will be used to purchase equipment and property to be used in the events organised.

---

Phew! I need a break after that.




 
Posted : 28/03/2007 4:06 pm
 Yith
(@yith)
Posts: 11230
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Topic starter
 

I'm suspecting that Business Plan will go something like this... but this is a blind guess!

- We plan to run events around 3 or 4 times a year.
- Each event will take place at an airsoft event.
- Each event will involve around 70 players
- Each player will pay us a deposit of around


 
Posted : 28/03/2007 4:14 pm
 Yith
(@yith)
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I see that Steve's is somewhat simpler... Have I gone into too much detail? I usually do!


 
Posted : 28/03/2007 4:15 pm
HeadShot
(@headshot)
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No, I was being facetious.

Ignore me, I'm bored.




 
Posted : 28/03/2007 4:24 pm
 Yith
(@yith)
Posts: 11230
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Okay! :)

A request... this one is a serious thread... lets keep it serious please! Otherwise I'll get all confuzzled!

Anyone got any serious comments to help?


 
Posted : 28/03/2007 4:26 pm
Chomley-Warner
(@admin-infinity)
Posts: 15632
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Why are you going beserk over business plans and stuff - shouldn't we discuss things first?

Why the blind panic to get things sorted this very minute?

Blooming heck, slow down!

This is important and needs VERY careful consideration.


 
Posted : 28/03/2007 4:49 pm
HeadShot
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The only issue is that sometimes clubs can't carry any 'profit' (ie hold any funds in their account) into the next financial year. The account needs to be zeroed at year end. That would need checking.

Also, we may need to clarify 'expenses' as this could cause the taxman to prick up his ears. We need to make it clear we aren't covering things like travelling expenses and other non-capital purchases.




 
Posted : 28/03/2007 4:51 pm
 Yith
(@yith)
Posts: 11230
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Topic starter
 

Yes...

The thing is that we have a meeting of quite a few of us next week.

I'd like this to be discussed at that meeting so I want to get some information together.

Maybe even think about getting some forms signed...


 
Posted : 28/03/2007 5:54 pm
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