rshearsd, would you please answer........

[American FLEET FAN No1]

Is Myclubfc a trust or a charitable trust?

If the latter what's the reg No?

If it's the latter which charity do they support and give funds too?

where do these funds come from?

 

 

[American FLEET FAN No1]

Just to prove I can copy and paste too!

I copied this from another thread where I asked rsheard the same questions! His reply follows.

 

The FSA number is 30275R, I believe. Not resorting to cut-and-paste, my understanding is that it's a not-for-profit trust. I don't know contract law, so I don't know if there's a distinction between that and a charitable trust. I can copy-and-paste lots of dry legalese, but my layman's understanding of the fine points is minimal.

 

The design is that the trust owns the club and if at any time the members vote to sell (requiring a 75% vote), at that point the members choose a charity and the sale proceeds go there.

 

 

I asked somebody who knows more about Trust Laws than I do, and he says any Charitable Trust has to appoint a Charity when it registers for Charitable Trust status!

[doheochai]

MyFC does not have charitable trust status. The rules state that the proceeds of any sale have to go to charity. However, if MyFC was to fold for any reason, the likelihood is that the ST would be given first refusal on purchasing the club for a nominal fee.

[rsheard]

As I said above, my layman's understanding is minimal. And as I just posted on the other thread a moment ago, I used "trust" incorrectly. Again, my mistake. But MyFC hasn't made the same mistake. You asked me to avoid cut-and-paste, and I did, error and all. As I said on the other thread a moment ago, I'll use IPS in the future.

[rsheard]

"Members will own the club through their MyFootballClub Trust, and together they will attempt to guide their football club to success."

 

This is from the How it Works page at MyFC, and is the source of my terminology confusion. I don't know if it's a naming issue or a legal distinction. Sorry for my own confusion and for anyone else I confused. I admitted up front that I am neither a contract specialist or attorney.

[American FLEET FAN No1]

Originally Posted By: rsheard

"Members will own the club through their MyFootballClub Trust, and together they will attempt to guide their football club to success."

This is from the How it Works page at MyFC, and is the source of my terminology confusion. I don't know if it's a naming issue or a legal distinction. Sorry for my own confusion and for anyone else I confused. I admitted up front that I am neither a contract specialist or attorney.

There's that word again, and it clearly states the same on your website!
As I don't have the time to troll through companies house registrations........If it isn't a Trust, and a Limited Company, as it was called somewhere....Who owns, and who are the members of the Board of MyFootballclub Limited?

[rsheard]

AFF, sorry, we're addressing the same issue in two different threads and I've just responded to the other one.

 

That "Trust" name on the website is wrong. It was the original name proposal apparently, and when the Society was actually formed, the webteam didn't update that page. I've just read through the first part of the Terms and Conditions and it is very clear that the club will be owned by MyFootballClub Society Limited, registered with the FSA with Registration Number 30275R.

 

The website owner and operator is MyFootballClub Ltd.

 

I've forwarded an email to MyFC, asking that they correct that mistake so other people don't make the same error in naming it that I did.

 

As for the Board, I'm looking for the exact answer so as not to mislead. Back in a moment.

[rsheard]

I know I've read something about how the Directors would be chosen, but I can't find it now. Anyone else know where to look for it on the site?

[American FLEET FAN No1]

Originally Posted By: rsheard

AFF, sorry, we're addressing the same issue in two different threads and I've just responded to the other one.

That "Trust" name on the website is wrong. It was the original name proposal apparently, and when the Society was actually formed, the webteam didn't update that page. I've just read through the first part of the Terms and Conditions and it is very clear that the club will be owned by MyFootballClub Society Limited, registered with the FSA with Registration Number 30275R.

The website owner and operator is MyFootballClub Ltd.

I've forwarded an email to MyFC, asking that they correct that mistake so other people don't make the same error in naming it that I did.

As for the Board, I'm looking for the exact answer so as not to mislead. Back in a moment.

Sorry, but I think you are playing Ring(a ring)around the roses here!
I clearly asked you, Who owns My Footballclub Limited? Who are thre Board of Directors? I didn't get an answer as far as I can see!

[rsheard]

Originally Posted By: American FLEET FAN No1

Sorry, but I think you are playing Ring(a ring)around the roses here!
I clearly asked you, Who owns My Footballclub Limited? Who are thre Board of Directors? I didn't get an answer as far as I can see!

MyFC Ltd. is Will Brooks' company, the website owner. I don't know how that company is set up as I'm not part of it. The information may well be online somewhere, but I don't know it.

[Trebor1975]

When are they first due to file accounts?

[commonsense]

My Football Club Ltd is the Operator of the website. My Football Club Society Limited is an Industrial and Provident Society, it is not a charitable trust. It is a non-for profit trust and that written in the society rules. The website is a provider of services for the society to function effectively in accordance with its rules. The Company Number of My Football Club Ltd is 6215636. Try this link it is for Companies House It doesn't work between midnight and 7am), it gives some info- their accounts are next due on 17/02/09

 

http://wck2.companieshouse.gov.uk/545e1d598352496794bab910c0eea291/compdetails

 

I hope that answers some questions. I also have a pdf copy of the My Football Club Society Rules , does anyone know if I can post it on the forum somehow?

 

[rsheard]

Originally Posted By: commonsense

My Football Club Ltd is the Operator of the website. My Football Club Society Limited is an Industrial and Provident Society, it is not a charitable trust. It is a non-for profit trust and that written in the society rules. The website is a provider of services for the society to function effectively in accordance with its rules. The Company Number of My Football Club Ltd is 6215636. Try this link it is for Companies House It doesn't work between midnight and 7am), it gives some info- their accounts are next due on 17/02/09

http://wck2.companieshouse.gov.uk/545e1d598352496794bab910c0eea291/compdetails

I hope that answers some questions. I also have a pdf copy of the My Football Club Society Rules , does anyone know if I can post it on the forum somehow?

No need to post it. It's available at the bottom of the Terms and Conditions page on the MyFC website (available without being a member). It is, however, still mistakenly identified as the MyFootballClub Trust as of an hour ago.

[toddybad]

I believe we have been promised several times by members of the webteam details of how the £7.50 has been spent once the takeover is complete. They did advise back in August that over £200k had been spent on legal fees alone and I can only assume that figure is still rising. I expect that at takeover the Ltd company will name the directors and what they do etc and would expect the MyFC membership to give them an extremely tough time if they don't.

[American FLEET FAN No1]

As an ISP, am I right in believing that all those 7.50's are tax free, under the Charitable regulations?

[rsheard]

Originally Posted By: American FLEET FAN No1

As an ISP, am I right in believing that all those 7.50's are tax free, under the Charitable regulations?

The 7.50 goes to the website operator, though. I don't see how that would be tax-free to MyFootballClub Ltd. It's their client's payments and would be typical revenue, wouldn't it?