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antrobuscp

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Everything posted by antrobuscp

  1. From St Ives New Year a few years back .............
  2. The sheet that came with my D601 - model #025 - has no Bachmann logo, just "whitespace" in that location.
  3. Same here really. I have only once paid substantially in advance for a model, the D600, that being to lock in the cost. I did so also because I appreciated that Kernow had stuck with the project through a number of difficulties and because I believed them to be established and stable traders. I also paid a little in advance on the Bulleid diesel - to do with the manufacturer wanting payment by a certain date. When making the D600 payment I did say that I did not really like doing so and that I would not do so in future. What I was really saying was that I hoped prepayment would not become the norm. I would, I believe, never get involved in crowd funding no matter who ran it. There are just too many things that may go awry. One of my old professional contacts delighted in repeating the phrase "There's many a slip between cup and lip". Too often forgotten nowadays. Colin
  4. If it is not DJM's money it may well not show on the balance sheet,. I have come across similar arguments with regards to the compilation of flat service accounts where frequently the service account company holds the funds of the flat leaseholders "on trust". I retired a few years ago now but the then relatively new advice I think said that some of the similar matters in those accounts should be dealt with by way of notes to the accounts and not on the face of the balance sheet. Personally I didn't agree with that approach due to the way in which flat residents tended to view the company accounts. Much, particularly timing, would depend on exactly what was defined/agreed in the funding agreement but at some point balances are likely to arise on both sides of the balance sheet as funds are spent. My gut feeling (and not a technical response) would be that I would want to track each crowdfunding project rather like a "Restricted Fund" in a charity until those funds were released into the general business in accordance with the funding agreement. Colin
  5. The cash held would be an asset, BUT, a liability would exist, initially of an equal amount, which would be a liability to third parties shown under creditors. That liability would be released when appropriate under the terms of the crowd funding agreement.
  6. For most practical purposes Micro accounts tell you nothing. If anyone with any sense were to want to invest in any serious way into DJ Models, they would require far more information than can be gleaned from these accounts. Nor, in my view, can the accounts form the basis for any serious comment about what might or might not be happening within the business. For example, Ravenser above says "The only other significant creditors should have been factories in China?". However, what if Dave Jones himself had lent funds to the company in order to finance it's operation? Such monies owed to Dave and not repaid would also be within creditors - how it had been spent or held could be, or have been, shown in the Profit and Loss Account(not needed for published Micro accounts) or on the Balance Sheet. I am not saying that this is the case, merely giving an example of how one might make incorrect assumptions. Speculation based on these accounts is just that, speculation, and may well be wildly misleading. You cannot infer a great deal from such abridged accounts. #Stationmaster - the prepayments in the 2016 accounts of DJ Models Ltd were assets - i.e. probably prepaid expenses(an example would be insurance paid in advance at the date of the balance sheet). #Clearwater was referring to a prepayment in respect of something to be supplied - money received in advance of supplying a product. Such funds would be shown as liabilities(deferred income). I have never had to deal with accounting for crowd funding, and a quick search suggests it can be complex, has potentially significant tax implications, depends upon the exact terms of the funding agreement, and may not be straight forward. The issues principally affect the project manager rather than the "investors" unless they also regard the investment as a business one. I'm not delving further, I've retired!!!! Colin
  7. I can't help but feel that the law most likely to be applicable to this situation is that relating to "unintended consequences".
  8. Went and picked up my "Ark Royal" today. Will be a few weeks before it will be test run. It certainly looks the part, but is now packed up until we return home. Colin
  9. For anyone looking for a form of "Bridging Software" to file VAT returns from Excel, I received a promo email this morning from a software house I use for my own SA tax returns since I retired and they also will be providing a bridging solution. Absolute Accounting Software who supply software to accountants in practice or to businesses. My only link is as a satisfied customer. Hope this helps, Colin
  10. I received a newsletter this morning which suggested that very few traders had received any communication from HMRC. One response suggested that HMRC had decided not to do a mailing as it would be "widely publicised" in the media. Colin
  11. If you are using Excel, I would have thought that one or two of the "linking products" may enable you to keep your current system. I mentioned one up the thread, but I understand there are others. Sage may well be "overkill" and, depending upon your past knowledge, require quite an initial learning curve. I would look firstly at the linking products before jumping into a package solution. Colin
  12. Barry, Communication by HMRC has always been patchy, and often late in relation to the issue at hand. Changes to accounting systems can take a long time to implement. When MTD was first suggested and included simple quarterly accounts, I had one or two clients who would struggle to comply if given 5 years to achieve the change - in one case due to the sheer complexity of the business. There were software packages which could do the job but their existing systems were part manual and part spreadsheet based and the operation would have to have undergone substantial re-thinking to achieve a totally software based solution. The Brexit communications are, no doubt, the result of instruction from a "higher authority". Your VAT visit does not seem to have been particularly "heavy", and a 2 hr meeting not unusual if the officer is trying to gain an understanding of your business and what might be included therein. The accountant could often be drawn in and we often suggested that the meeting be at our office, but that meant making sure all the records necessary were physically present. You have my sympathy regarding your accounting system, but software and connected solutions are deemed to be the way forward. Errors do occasionally happen in the best of circumstances, and I would decide what to do or charge depending upon the cause - the least I would do would be to find out what had happened and explain it to my client. I/we used to use spreadsheets to support VAT return submissions and these included self checks which often highlighted simple errors of entry because expected ratios were "out". As to the name, no, no connection but the name appears to come from a Cheshire village called Antrobus - which goes back to Norman times. Apparently a corruption of a French phrase "Entre Bois" which was meant to describe the then location between woods. Colin
  13. Having retired, I don't know precisely how HMRC have communicated the changes. I do know that I have received numerous emails from HMRC, and my professional body(ICAEW), on the subject - I have still kept up all the email subs to newsletters, etc., that I used to get. I should say that I generally dealt with small businesses. Accountants in current practice should, in my opinion, for some time have been in touch with their clients. I know I would have been. The eradication of error argument is, to me, false, as forcing people to use systems which they may not fully understand may well generate more errors. Errors are not necessarily self-correcting as it depends on the nature of the error and when it is spotted - but figures translating across automatically does not necessarily assist in spotting an error - quite the opposite in many cases, as the assumption often is that "the computer is right". I remember being on a course when a comment attributed, I believe, to Tony Blair, suggested that business records would be more reliable if a particular software program was used. The room was full of accountants who burst out laughing at the thought. Many people in business do not have the time to learn, understand, and operate software systems, leave aside the cost. Time has moved on since that course, software has improved, and more people are computer literate but someone wanting to keep their records on a software package needs to a) understand the software and how to use it and b) have at least some knowledge of bookkeeping/accountancy principles, or they have to employ someone who has. Either way there are time or financial constraints. Colin
  14. Making Tax Digital (MTD) has been on HMRC's agenda for some time - well before I retired about 3 years ago. Initially, the plan seemed to be that all businesses including property rentals were to be included apart from some with a very small turnover - something in the order of £10/15k pa. The returns that were to be required were not just VAT but what amounted to quarterly accounts, with an annual adjustment at the end (31st January following, I believe). HMRC tried to "sell" this as a simplification when, in fact, it looked like filing 4/5 tax returns per year and one has to suspect that it would help with the roll-out of Universal Credit for the self-employed. HMRC has seemed to back off this after much criticism, not least of a much too tight timescale which would have seen the new regime coming into effect this or next year. I wouldn't be surprised if this is just a postponement, not a change of direction. Be aware and speak to your accountants once this first stage is in effect and bedded in. I fear more will follow. Colin
  15. I retired as an accountant in public practice about 3 years ago, so my knowledge is not as complete as if I were still in practice. I was under the impression from what I have read, that the use of spreadsheet accounting was still possible provided the data can be filed directly with HMRC systems. I used to use a similar method to file iXBRL company accounts. using VT accounting software which was an Excel add-in. I have just visited their website and it seems they intend to provide a "bridging product" to enable the filing of returns via an Excel add-in. It may be worthwhile for those interested if they visit the MTD page on their website and/or have a word with the software house. My only connection was as a satisfied customer. www.vtsoftware.co.uk/mtd/index.htm Hope this helps. Colin
  16. I can't check at the moment, but I think I have at least one new/unused motor should a replacement be necessary. I have a few unstarted kits to go at, and I did buy MRRC/MW005/Sagami and other motors for them. Whether I'll be given the time to get to build the kits, I don't know - having many of them produced RTR has removed the incentive in some cases - and I've coaches to do as well. GWR Dreadnoughts and Concertinas will be the first I think once I've finished the ones that have been in suspended animation for several years. Colin
  17. My 47xx was from a Cotswold kit. It has a solid brass milled chassis, and is fitted with an MRRC1001 motor. It will "pull a house over" despite it now being 38 years since it was completed. I will look at the Heljan model when it arrives, but I'll not part with the kit built model. Colin
  18. No probs here, either - Eset a/virus and Firefox/Chrome/IE - that's on Hattons.co.uk and the ehattons site. Colin
  19. I initially had the same problem that you experienced. I found that the pony wheel back-to-back measurement was a little too wide. After seeing your latest message, I ran my model through the longest "ladder" into my fiddle yard - a mixture of code 100 Streamline points including some of small radius. The loco wasn't the smoothest through them, but it didn't derail. I tried it through the most problematic points for other models - at low speed(which is all it would ever be), and it was ok. This stretch is the first I intend to re-lay when I get to refurbing the trackwork(it is 30+ years old). I do have 3 Setrack points including the curved version, and it goes through those also - again at the desired low speed. I know it doesn't directly help you, but I do think it is the back-to-back being out which is causing any problems. As to the pony truck, it is sprung vertically, but I suspect a light "centering" springing would do no harm. Colin
  20. I have had to "tweek" the back to back measurement on a number of models over the years. The only tool I used was a small screwdriver to remove the pony truck from the bogie and to re-attach it. Once out I applied a little hand pressure to the wheels whilst slowly twisting them on the axle. Not exactly precise or highly technical, but it has always worked for me. The only fiddly bit was re-assembly - the truck is mounted on a circular pillar, with a spring around it. On top of this goes a washer(with a square centre), and the plastic truck. You really need three hands to hold all these together, but there isn't enough space, so it took a few goes before it all went together as intended. In fact one end went together first time, the other took a little time. I'm not encouraging you to do anything you're not comfortable with, but it's the sort of issue that crops up from time to time and I wouldn't return a model for - provided of course I knew what I was doing and that my fix would solve the problem. Colin
  21. It seems that I was lucky. I arranged on Monday to pick up my Bulleid diesel, possibly before the short delivery was noticed. I would imagine Kernow are rather less than pleased given that they had apparently been asked to pay before delivery, as had we as a result. It is a superb model. I had an issue with the "pony" wheels on the bogies derailing on some Peco Code 100 points. One look at the wheelsets and I was sure the back to back was out. As supplied the wheelbacks were about 15mm, or a touch more, apart. Setting them to a bit under 15mm seems to have cured the problem. Colin
  22. That was one key thing, apart from the people involved, that struck me. More/better control over production on the horizon for Hornby? Colin
  23. Pleased to hear that. It wouldn't, on it's own, stop me buying, but I much prefer a traditional motor. Pity about the Warship, but I've always wanted one. The coreless motors will stop me buying some other models, though. Colin
  24. The early emblem version is expected at Hattons on or after 24th February - according to email received a little earlier. Colin
  25. I hope this is of interest. Flying Scotsman, having been lifted at Liverpool from the ship bringing the loco back from the USA, the loco is about to touch down on English soil for the first time since 1969.
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