Members of the Vincent HRD Owners Club might be interested to learn of the formation of The Vincent H.R.D. Owners Club Ltd on 17.9.2010. This company is registered as a private limited company with share capital at 50d Kingswood Road, London E11 1SF United Kingdom under company number 07380295. This is the home address of VOC Honorary Secretary Andrew Everett. Trademark applications in International Classes 21, 25, 26 and 41 were made through Potter Clarkson LLP of Nottingham by The Vincent H.R.D. Owners Club Ltd under number 009626441 on 24.12.2010.
The new company's registered address was changed on 21.3.2011, and a new Director and Company Secretary appointed on the same date, although these details have yet to be published by Companies House (UK). A number of VOC members have been pushing for the incorporation of the VOC as either a trust or a limited company but members in general who might be wondering how company officers will be appointed and who will be able to acquire shares in The Vincent H.R.D. Owners Club Ltd might recall the appointment of Ian Savage as a director of the VOC Spares Company Ltd. According to sources close to the club management, there were fourteen applicants for the position. One of the applicants was Hugh McAllister, who reportedly offered to make his premises available to the VOCSC free of charge. However, just one applicant was interviewed and appointed: Ian Savage. So VOC members might be excused for asking how the current appointments were made and, for that matter, why this company was set up with no consultation of the membership by its elected officials. On the other hand, if they pose such questions, they might find themselves the targets of the kind of treatment meted out to John Lumley Affair whistleblowers.
The new company's registered address was changed on 21.3.2011, and a new Director and Company Secretary appointed on the same date, although these details have yet to be published by Companies House (UK). A number of VOC members have been pushing for the incorporation of the VOC as either a trust or a limited company but members in general who might be wondering how company officers will be appointed and who will be able to acquire shares in The Vincent H.R.D. Owners Club Ltd might recall the appointment of Ian Savage as a director of the VOC Spares Company Ltd. According to sources close to the club management, there were fourteen applicants for the position. One of the applicants was Hugh McAllister, who reportedly offered to make his premises available to the VOCSC free of charge. However, just one applicant was interviewed and appointed: Ian Savage. So VOC members might be excused for asking how the current appointments were made and, for that matter, why this company was set up with no consultation of the membership by its elected officials. On the other hand, if they pose such questions, they might find themselves the targets of the kind of treatment meted out to John Lumley Affair whistleblowers.
As far as VOC holdings are concerned, these will presumably be taken over by the new, incorporated club and will include assets like the Nigel Seymour-Smith Comet and, of course, the Nigel Seymour-Smith Model PS. Will these now be registered to this new limited company, becoming the property of the company and its shareholders rather than the property of the club membership, as intended by the donor, in the case, certainly, of the donation he actually made rather than the one recently made in his name and without his knowledge? Of course, it could be that the management of The Vincent H.R.D. Owners Club intends to issue every VOC member with one share in the company and the option to purchase more shares. Time will tell. In the meantime, it is worth noting that two more Vincent HRD-related companies were formed around the same time: The Vincent HRD Co Ltd (9.8.2010) and Vincent HRD Motorcycles Ltd (1.11.2010).
I hope this is not as bad as it looks.
ReplyDeleteWho were the 13 unsuccessful applicants for VOCS Co's MD post? It would nice to know the reasons for their rejection.
ReplyDeleteYou could always ask Andrew Everett via the club forum. I sure you would get a full and frank answer.
ReplyDeleteThe reason the 13 applicants for the Spares Co's Md post were rejected is simple the job was Ian Savages before anyone else got a look in.
ReplyDeleteIt was a job for the boys.Ask the board of directors how many applicants were given interviews and see if they will tell you.
Dave Meadowcroft got the push because he disagreed with the way the Club Shadow project was handled. They went about ordering spares for a production run of twenty replicas and the bill got bigger and bigger. So they bailed, sold the one Shadow they did make at a cost of almost £60 grand all told for £30 grand to try to cover the hole in the accounts and then tried to explain the rest away in terms of "paper adjustments" and write-offs of "obsolete stock". Arthur Farrow is now Chairman so the Spares Co board will be nice and obedient with Uncle Festus in charge.
ReplyDeleteHas the voc membership number fallen this year?
ReplyDeleteVery interesting on the applicants for Spares Co - MD.
ReplyDeleteJobs for the boys alright.
Graham Smith wrote on the club forum that "I do know that they've been really busy lately, and Ian has been stretched to the limit with 'financial' matters, trying to get the accounts for last year prepared."
ReplyDeleteHow come Ian Savage is doing the accounts? They have accountants for that. One of the directors is an accountant. What part is newly-appointed Chairman Arthur Farrow playing in all of this? What is their problem? Are they having trouble making the accounts tally before giving them to the accountants? How come they have over £100,000 of debts and lines of credit out there. Why can't they just produce the accounts? What is the problem this time?