Who owns the 'club'

rkj52 replied on 25/02/2017 08:19

Posted on 25/02/2017 08:19

There has been much talk in the 'new name' discussion as to if the CMCC is a club or not. So should the CEO and Chairman decide to vote through a decision to sell the club and all its millions of assets to an equity company or commercial operation (as other clubs have), where would the proceeds be distributed; there's an interesting question, any ideas.

brue replied on 25/02/2017 15:30

Posted on 25/02/2017 15:30

The CMC controls quite a big system of accounts so I'm not surprised to see more than one company.

GodivaNige replied on 25/02/2017 15:57

Posted on 25/02/2017 15:19 by DerekAndSusan

And so you should be JVB, me thinks things are not as they seem, somebody is not being forthcoming, who are these Directors in the new company who out there has ever heard of the Touring Europe Club? It either a tax fiddle or something much darker. Time to come clean

I now expect this to be locked innocent

Posted on 25/02/2017 15:57

There are many reasons for setting up a dormant limited company to run alongside an active limited company. It's not a tax fiddle and there's nothing dark about it. This happens a lot and it has many advantages.

One of the reasons for doing this, particularly in the past before companies could be set up online (before online, setting up a company with paper and snail mail was very slow) is that a dormant company can be used to trade immediately. This has happened here. The accounts have not yet been made up for the company trading as Caravan Club Limited so what has happened to enable the rebrand, is the dormant company has had a trading name change to the Caravan and Motorhome Club Limited and trading under this name can begin immediately, without the need to first audit Caravan Club Ltd.

JVB66 replied on 25/02/2017 16:02

Posted on 25/02/2017 15:57 by GodivaNige

There are many reasons for setting up a dormant limited company to run alongside an active limited company. It's not a tax fiddle and there's nothing dark about it. This happens a lot and it has many advantages.

One of the reasons for doing this is particularly in the past before companies could be set up online (before online, setting up a company with paper and snail mail was very slow) is that a dormant company can be used to trade immediately. This has happened here. The accounts have not yet been made up to date for the company trading as Caravan Club Limited so what has happened to enable the rebrand is the dormant company has had a trading name change to the Caravan and Motohome Club Limited and trading under this name can begin immediately without the need to first audit Caravan Club Ltd.

Posted on 25/02/2017 16:02

So what is different to what has happened to the caravan club and what went on at the CMSA that a previos post suggests 

GodivaNige replied on 25/02/2017 16:08

Posted on 25/02/2017 16:02 by JVB66

So what is different to what has happened to the caravan club and what went on at the CMSA that a previos post suggests 

Posted on 25/02/2017 16:08

I can't speak for what the directors intend to do with Caravan Club Ltd, none of us will be privy to that information, until something changes at Companies House

GodivaNige replied on 25/02/2017 17:35

Posted on 25/02/2017 14:07 by JVB66

The club cannot be sold without the consent its "members"although   the two motoring clubs were sold off after the membership were "bribed" with what was a paltry amount compared to what they were worth 

Posted on 25/02/2017 17:35

When the RAC was sold, each full member received £34K. 

Full members being those that paid over £600 a year and had use of the Pall Mall facilities. Ordinary roadside breakdown and recovery members received a grand total of nothing 

Unsurprisingly, almost all of the 12000 full members voted in favour of the sale.

Not a bad return if you had only been a full member for a year or two eh?

GVD replied on 26/02/2017 09:08

Posted on 26/02/2017 09:08

I was afraid something like this could happen, as there are a lot of "accountants" in charge?

 

rkj52 replied on 26/02/2017 11:47

Posted on 26/02/2017 11:47

Must be very tempting for Chairmen, CEO's, et al of a club to hive down all the millions of assets into a separate company which they can do without membership agreement, and then sell the assets, which would of course include the membership. A chosen few are then left with a sizeable amount to distribute as happened with the RAC (were you ever offered the opportunity to join the RAC elite?) and apparently the CSMA according to contributors to this site.

Is the CMC or whatever we are called now being groomed the same way? I wonder or perhaps EG could let us have a view on this.   

Oldman48 replied on 26/02/2017 15:23

Posted on 26/02/2017 15:23

As a motorhome owner I have nothing against the new name as such. My only concern is that as a club member  I would have expected to have been consulted on such an important issue such as this.

There seems to be a lot of censoring on the club website though.

 

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