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| YE Registration Fee | |
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| Tweet Topic Started: Oct 30 2007, 10:42 AM (196 Views) | |
| NickChenery | Oct 30 2007, 10:42 AM Post #1 |
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Managing Director
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Hey, Mrs Flude has told me we need to pay our YE Registration Fee. The registration fee of £80 should be paid within 2 1/2 weeks. Either your Finance people can ask for an £80 overdraft when they open the bank account, the HSBC know this is a way to go and offer that facility. Or You can raise the money through share issue. The share books are in the YE drawer in the teacher’s room of the Economics & Business Dept Or I would be prepared to give you a cheque for the money to have it returned before the company is liquidated. I am happy to do this again this year. A cheque will need to go off on the next Thursday that you meet. We need to discuss and decide the best course of action. Bear in mind we all need to be shareholders in the company, and we all need to own at least 1 share. Please vote and offer feedback as this is an important decision we need to take soon. |
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| SamCann | Nov 5 2007, 07:20 PM Post #2 |
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Financial Director
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I was asked to give a brief rundown of each option just to help people make up their minds so here goes: Bank Overdraft Pros: - The bank is experienced in YE matter so will have no problem with us taking out an overdraft. - Its interest free so we lose nothing. - Its done in a professional way, and there will be records of the overdraft taking place so the Financial Directors and MD can keep track of where the money is going. Cons: - More hassle than Mrs. Flude handing over a cheque. Selling Shares Pros: - Means we won't be in debt - More support/awareness for ICE from outside (if we sell shares externally) Cons: - Less profit for us - May have to consult shareholders in the future when making decisions - Chance we wont get enough interested buyers. Cheque from Mrs Flude Pros: - All financial deals kept within the company - No interest Cons: - Unprofessional style of fundraising - Mrs Flude may lose out if we go bankrupt = more pressure on us. |
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| NickChenery | Nov 6 2007, 09:49 PM Post #3 |
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Managing Director
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I am closing this topic as Mrs Flude has written a cheque for us. This option was also winning. Thanks to everyone who voted :). |
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2:49 PM Jul 11