Formation of IMOC-UK Ltd

[BenF]

The Club has been run since 1996 by a Committee and Moderation team who have freely volunteered their time to run the website and email list, organise events and support members arranging their own local meets.

Looking ahead to the future, in order to protect both the Club, its Volunteers and Members from legal issues we have taken the step of forming a Limited by Guarantee company (IMOC-UK Ltd) to which all the assets of IMOC-UK have been transferred.

This is a change we have considered a number of times in recent years, but events last year highlighted the need for this to be implemented.

By undertaking this change, we have had to cover the cost of forming the company and the ongoing costs of running the Club under a Ltd Company will be increased.

This has meant that Affiliation fees have increased for 2008 and there will shortly be an increase in the Premium Membership cost. These increases cover our new costs and still allow us to support events in 2008.

We Thank our Premium Members and Affiliates for your continued support.

Some FAQs :

I'm a Regular Member - what changes will I see?

There is very little change - The Club website will continue to be run and available to all MR2 enthusiasts. However, you will no longer be able to advertise items for Sale without becoming a Premium Member.

I'm a Premium Member :

You should notice no change.

I'm an IMOC Authorised Trader or Authorised Company :

Businesses wishing to Advertise here at IMOC have a new Affiliation agreement to sign and will have to provide us with additional information supporting their application.

[paul_h]

By undertaking this change, we have had to cover the cost of forming the company and the ongoing costs of running the Club under a Ltd Company will be increased.

does that mean directors / board members will now be reibursed for their time devoted to IMOC matters from the additional charges to the club?

This isn't a dig just curious on how the new setup functions, everyone seems to be doing a good job in the light of recent events and long may it continue



paul

[Speedy]

By undertaking this change, we have had to cover the cost of forming the company and the ongoing costs of running the Club under a Ltd Company will be increased.

does that mean directors / board members will now be reibursed for their time devoted to IMOC matters from the additional charges to the free mr2 club?


paul

glol, no. Directors/Admins/Moderators will all continue to be volunteers for the club, giving up their time for free. Of course people will be able to register and post questions without premium membership.

[paul_h]

oops just edited my post a little that may have sounded a bit harsh

no offence inteded to anyone

p

[Anonymous]

so you now have to pay to advertise stuff!
sounds like the oc!

[Scott Barton]

so you now have to pay to advertise stuff!
sounds like the oc!

We will still be cheaper than the OC....

[Martin F]

so what is the new primium members price you've come up with...

[LimeyMk1]

so what is the new primium members price you've come up with...

IIRC the new premium price will be £7.50 but we are considering having this for new members only. Current members renewals would remain at £5.

[Martin F]

so what is the new primium members price you've come up with...

IIRC the new premium price will be £7.50 but we are considering having this for new members only. Current members renewals would remain at £5.

sounds reasonable or everyone could just pay £6...be fairer , maybe get a bit more money for the club over the long-term and whats £1...

[monkeyra]

You've setup a LTD company for a website?

You lot really like making work for yourselves don't you!

[Century Motorsport]

You've setup a LTD company for a website?

You lot really like making work for yourselves don't you!

I think the reasons for it make the switch more than worth it. I may be speaking out of context but this should protect IMOC far better when threatened with legal action if the occasion ever arose.

Good for IMOC and IMO £7.50 per annum for a club as good as this is more than reasonable.

Keep up the good work folks

Nathan

[3sgte]

£5 ,£7.50 ,£10

all cheap for a club as good as IMOC

[monkeyra]

You've setup a LTD company for a website?

You lot really like making work for yourselves don't you!

I think the reasons for it make the switch more than worth it. I may be speaking out of context but this should protect IMOC far better when threatened with legal action if the occasion ever arose.

Good for IMOC and IMO £7.50 per annum for a club as good as this is more than reasonable.

Keep up the good work folks

Nathan

Call me stupid if you will, but why would being a Ltd company protect IMOC from legal action?

There is nothing to stop people threatening legal action against a company. Ok, the individuals might not be liable for the debts, but it doesn't protect the club.

Just seems a lot of hassle for nothing really.

Anyway, not that it's any of my concern, as i won't have to be the one that submits tax returns every year

[anna]

Ok, it doesn't directly protect the club, but as a director of a company I know that it means that as the director, my assets cannot be taken in the event of legal action (the companies can, but not mine).

Indirectly going ltd does protect the club as the alternative leaves the clubs officers liable for any legal action that may be brought against the club. If IMOC didn't go ltd, then all the officiers could be personally liable (i.e. their assets), and that's not a job i'd willingly take. It's legal state gone mad, but the club doesn't choose who decides to throw any legal action into the frame.


I believe the MR2DC and MR2OC are both limited companies also. Not sure about the mk1club...

[monkeyra]

It's a bit of a sad reflection on society IMO

[anna]

It's a bit of a sad reflection on society IMO

DING

[Tiamat]

Call me stupid if you will, but why would being a Ltd company protect IMOC from legal action?

There is nothing to stop people threatening legal action against a company. Ok, the individuals might not be liable for the debts, but it doesn't protect the club.

Just seems a lot of hassle for nothing really.

Anyway, not that it's any of my concern, as i won't have to be the one that submits tax returns every year

Before IMOC became a Ltd company, the administrators were personally liable in the event of the club being sued. This means they could have lost houses, cars, had to defend legal action, pay for defending that legal action and essentially have them and their assets at risk.

The club can still be threatened but the administraotrs are now protected and the club is actually in a far better place to defend itself if necessary.

Its not hassle for nothing, not when your entire assets, time, and posibly even job can be on the line in connection with your hobby and for something you don't get paid for.

Its a sensible step to help prolong the life of the club.

[Azz]

Makes you feel sad that even can be considered ok for a mod to be put in that situation

[Martin F]

Makes you feel sad that even can be considered ok for a mod to be put in that situation

i know mate, it's quite sad how people can be so vindictive and trivial these days.....just have to live with it unfortunately...

[BenF]

Cheers for the Feedback. Bottom line is that we have had to do this to separate the volunteers running the club from the Club as separate legal entities.

In the past, we've discussed this going all the way back to 2004 and I personally have argued against it - because I object to money that could be spent on Events and Meets instead has to be spent on things like Accountancy, Insurance and Legal fees.

However, given the size of the club today, and the Legal climate it isn't reasonable to expect those that volunteer their time for free to end up risking their Home / Car / Family income as a result.

Looking ahead to this year, we've worked out that in order to run a similar set of events to 2007 in 2008 plus cover the overheads above what the changes in Affiliation and Premium Membership would need to be. Affiliates are aware of these as I've just done the round of renewals in January - but the new fee will be £7.50 as above.