Typical MDL

[tcm]

Think they have better bookkeepers...

Hum, you define your own "VAT quarters" - they don't follow calendar quarter days.

Separately, the upfront payment of something is not necessarily taxed at that point - the income isn't earned on April 1, but monthly. So the income is deferred, and the tax payable when "earned".

 

[Guest]

Re: Yes it is TCM

I have a VAT invoice from MDL dated March. Once issued the VAT due on that invoice is
for March and cannot be defered, it must fall in the appropriate quarter. Your right about
the VAT quarter one can chose to change the start date of quarters to suit yourself not
the end of the tax year. The tax year applies to income tax only.

cneighbour

 

[jfm]

Re: Accounting Controversy

Para: Not sure about your accounting. As the Board's CFO is away (Nick Robbo Robinson) I'll comment briefly ;-)

The cash (a) increases cash and (b) increases creditors, so there's no net impact on net current assets. But the cash is cash so reduces borrowings or increases cash mountain, which natch keeps the banks happy

 

[tcm]

Re: more info....

Umm wasn't making myself clear....about the vat - an april 1st invoice will be day one of their new quarter, the invoice printed March for payment on or be4 april 1 to avoid gettng slung out ...the vat collected and not due to be in the grubby mitts of HMC&E until end July.

 

[jfm]

Re: more info....

If printed b4 1 April you could not physically issue it in March. Would be a bit VAT fraudy imho. But as mentioned b4 their VAT 1/4s might not be calendar quarters. Or it might not be an invoice, it might be a "payment request" with the invoice to follow later, conveniently in April praps

 

[ParaHandy]

Re: Accounting Controversy

Ooops! Bent bean counting! Forgot about cash (blind as well - twas there in front of me) thankyou

 

[mike_kolling]

OK, OK Enough!

Ooops, thats the last time I post anything - I stand very corrected.

Still begs the question why they need the cash early?

I suspect I know what Mr Watson will say - that its to get the bookings in so they know who is staying and who is going.

But I wonder what percentage will actually pay on or before the deadline.

 

[tcm]

Re: nearly enough!

well, they need the cash early to make more money and charge the bank interest rather than t'other way round.

But you are right bout the invoice. A new tax point is created the moment an invoice is created. So, JohnW should make sure that they pay all the vat at the right time...but I bet they call it a payment request, then issue an invoice later. BUT...if the money is paid before, then the vat is dues in that qtr. Oh, soddit, just blame the accountants, that always seems to work.

 

[Guest]

Re: Well Well Well

Quite a stir this thread, must be my biggest yet, just need a response from JW now

cneighbour

 

[Bergman]

Re: Rome wasn\'t built in a day

But it burnt down pretty quickly while Nero played his fiddle

 

[ParaHandy]

Tartan Cleats

It's just not your day.
At our marina they take, ooh easily, a month to prepare, don't y'know? Seems fair enuff they'd waannt paying? A wee chap comes and fixes the cleats on the pontooon just tailor made to the boaat and another comes wi' beautifully plaited (furry too, if you want) mooring ropes so you've nothing to do but just attach them. The cleats can be any colour but ah have mines tartan. And did you not know that at our place they've another wee man with baseball bats (maybe table tennis - it's the things for planes?) and he guides you in. Just did the training last week, y'know, bit flakey as the other old git on t'other side was training too and I got a might confused wi' all these red and green bats in the air and when I saw them all green I thought "full speed ahead" and skewered the pair of them with ma bowsprit. And did y'know that they give you a wee remote control device and you can lower or raise the pontoon finger. Yes, indeed, jus' like a submarine, it can be set up so you step onto it; none o' this scrabblinhg aboot on all fours when a bit fooo and perfect for the mother-in-law. Ah could on and on about the wonderful customer service at my place but just wait, the best bit is they give you a bottle of champagne and a wee thornton's choccy on 1 April. Just fancy that now.

 

[tcm]

Re: Most things are done in one day, John

Declaring war, famous speeches, births, deaths, taking decisions, writing massive cheques, placing huge orders, sacking useless people, having quick meetings and telling peeps how it's gonna be. These are all things that can be done in one day.

Words are cheap. But you don't understand customer service unless other people talk about how good it is, even if they moan about the price. Getting only the second bit right is No Good.

I hope that the lunatic MDL FC/FD who wanted all annual bertholders to have a smartcard has been fired. Lets's face it, you don't ned an FD anyway. Boompah, that's £100k p.a. saved already. In accounts departmentsm, it's always the women who run the show so fire all the blokes till you get to most senior woman. She's probly got 3 kids too. She's the boss.

Now, how to make more more money? You can buy a few more marinas, but expanding each individual business ain't an option if there's a concrete wall around the bit that you own and an impatient queue beyond that. So, improve the service, jack up the price. Hoik the prices to include free jetwash, free lectric, free showers, free parking, halfprice friday lunch and halfprice sunday dinners (so they stay late and arrive early) Dump the staff who counted how much the extra bioots cost and did the invoicing, printed the invoices, put stamps onnem, chased the money, got nasty, got published. Consider putting an under-30 incharge at each marina. Fire some of the old miserable gits. Hire some more old happy gits, mornings-only or afternnoons only. Give them smart blazers, and give them a target - see how many different customers for whom they can buy a drink each week.

 

[ccscott49]

Re: Most things are done in one day, John

Why the bloody hell aren't you running a marina!? You seem to have it down pat, mind you most of the service type industries could learn from that little lecture, well done! Mr. Watson, at least he did join the forum, he's at least not a faceless answering centre, NCrest where are you? after you were slagged reference the booted out family in wales, (did we ever get an answer from them, never heard) they know we are a captive audience, but they can still be slagged and it will hurt them eventually. Keep up the good work lads!

 

[Guest]

Re: AOB

Hi, don't recall seeing the post (don't visit the site as often as I perhaps should)...
Could you give me a call on 023 8045 0209 and we can chat your thoughts through?
Regards, John Watson

 

[Guest]

Re: Most things are done in one day, John

Hey, interesting points but I'll pass on commenting on some of them publicly though!
Ref the unifroms - we've started at Cobbs and are working our way round the group. The staf chose the design and colours - red is dead!

 

[hlb]

Re: Most things are done in one day, John

I think you need to look at a bit more than uniforms. Now I dont use MDL, fortunatly. But from posts here abouts, neither dose anyone else. (Willingly). Ok you've got a captive audience, at the moment But something has to give if you just keep abusing them.

Haydn

 

[Guest]

Re: Well Well Well

It's coming!

 

[Guest]

Re: To JW

When/where did you leave Trev?

 

[trev]

Re: To JW

I was in Penton Hook from about 84 to 86, then at Bray until about 89/90 - then becuase of continual price hikes and no extra service I moved out. Been where I am now for past ten years.
Have considered moving back to MDL but the extra layout doesn't justify the gain, and the annual 'index ??' rises adds to my disquiet.

Trev

 

[Mikeeee]

Re: Tartan Cleats

What are you on?