2015 - 25 years of the NSX

Our own formal club has my support.

I do not think audited accounts for such a simple Ltd company would be very expensive. I have seen such work done in trade bodies I have been a director of for £200-300 per year. I am sure there must be qualified accountants amongst our members who could find someone to do the work if they were not willing to do it themselves. I would also be surprised if we did not have someone with a legal background out there somewhere.

I am a Fellow of the Institute of Directors and have held many Directorships of commercial and charity organisations and I have been a trustee of pension schemes all carry some degree of personal risk but all are manageable, and therefore acceptable, with sensible governance and relevant insurance.

We would only need a small number of directors to volunteer - here is my virtual hand going up.

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Originally Posted by duncan

Geoff,
- all well and good until something goes pop; then, should our insurers decide that they won't pay, the aggrieved parties insurance company will go after the club and ourselves as its members.
Other motoring clubs I belong to have been set up as limited companies with the members guarantee and with liability set at £1/member in the event of being wound up to provide such protection.
Seem simple, but with it goes the need for and cost of a formally audited annual account.
Not a sexy as our own club, why can't we [say, and with their permission] join the S2K club and let someone else have all the hassle.

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Don't disagree...Limited Liability with each member having 1 share is the way to go, but for our own Club. The NSX marque deserves it. Count me in as a volunteer Director

Honda asked clubs for a few vehicles to attend CarFest this year and I was lucky enough to attend.
They had their display area under the heading of The Honda Owners Club and had road sign type sign posts positioned around the whole site directing people to their different areas. All the posts had an individual sign on them for The Honda Owners Club and I wondered if they had possibly set up a club for the same issues as we are currently having?
An online search shows the Honda Owners club to be a motorcycle club but wondered if Honda may already have something in place that we could tuck under the umbrella off as a sub division. I'm sure Mike has already asked the question but thought I would check just in case.

Olly

I'm a Chartered Accountant, and Nick Graves I believe still works in (has his own?) practice. So the club has free advice from 2 members at least on the acc'y side. Plus a couple of experienced Directors and it won't be difficult to run.

Ref. accounts:-
- The club won't need an audit, just an accountant to certify the accounts prior to filing. I've not got a practicing certificate, but Nick will hopefully post up that he has.
- Accounting will be very straightforward...happy to set up an Excel spreadsheet to record income / outgoings...if someone else can do the month-on-month data-entry I'll pull the y/end accounts together for Nick / someone else to certify.


Ref. Limited Company:-
- Off the shelf co's (clean) tend to be ~£100 to purchase, but can be set-up for a lot less with a little bit of legwork. I've no experience of club / member guarantee type of incorporation, but that does sound the right approach.
- Non-account filings should be minimal - an Annual Return plus any directorate / company secretary changes.
- It may be possible to set up as a charity / non-profit organisation, to avoid any taxation issues. Again, not my area of expertise...


Ref. Insurance - Ian, if you've got contacts then will leave that to you.

Can I suggest that we have a call (conference) to discuss what can be done, who should do what and agree a plan going forward ?

I can set up a conf call number for everyone we just need to agree a date/time. For this purpose I will start a new topic.

Hello Mike,

Following the posts re SCC and the 'club'. Really enjoy the meetings and all your knowledge and help since I bought my car.
Sorry you have been forced into this position but do understand it.
Happy to join a 'club' and provide fees, so please just let me know. I am sure most people would be happy to pay to be in the NSX club or Ltd company.

Sean h

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Originally Posted by sorepaws

Can I suggest that we have a call (conference) to discuss what can be done, who should do what and agree a plan going forward ?

I can set up a conf call number for everyone we just need to agree a date/time. For this purpose I will start a new topic.

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Sounds like a good idea Mike.

I will very surprised, if as a club we really need to be looking at a Limited Company, seems a little extreme to be honest.

Sharon

The thread http://www.nsxcb.co.uk/showthread.ph...el-Northampton has now been updated with the details of how to book rooms with the Holiday Inn Northampton at the special rate we have been given.

Regards

Sharon

I would like to. Just had delivery( yesterday) of my first NSX, pretty excited!

I potentially am interested in this if its still going ahead as i should have my car by the end of the month