I've had enough - I've sold NSC to another party

[Bozza]

Bugger! What's with this "transparency" all of a sudden? I thought the mods were going to divi out the funds at our next little get-together.

Next? First!

 

[Box of Frogs]

Can't believe you get threats Bozza - some people are unbelievable aren't they?

If you get anyone else threatening you just let me know and I'll send the boys round to sort them out!

 

[Westdene Seagull]

I'm guessing there's two or maybe three shares but have you thought about maybe creating a 1000 shares and selling them off to NSC members at say £20 a share. £20k straight in the bank which is quite some protection. I'd happily buy one ( dividends or no dividends ! ).

 

[brakespear]

I'm guessing there's two or maybe three shares but have you thought about maybe creating a 1000 shares and selling them off to NSC members at say £20 a share. £20k straight in the bank which is quite some protection. I'd happily buy one ( dividends or no dividends ! ).

same here maybe for a tenner though

Thanks for the explanantion and all your efforts with NSC Bozza

 

[Bozza]

I'm guessing there's two or maybe three shares but have you thought about maybe creating a 1000 shares and selling them off to NSC members at say £20 a share. £20k straight in the bank which is quite some protection. I'd happily buy one ( dividends or no dividends ! ).

There's 100.

No I hadn't, but that is an interesting thought as I have been toying, again, with completely optional premium accounts that for a small fee would give some 'enhanced stuff' on the site. It could be interesting to tie the two together - shareholders getting virtual bonuses in return for their support. Non-shareholders would get nothing less than they do now.

Immediate concerns would be the legal requirements for a share offer and the subsequent ongoing administrative costs of a share register, even though it would be relatively static.

 

[Westdene Seagull]

There's 100.

No I hadn't, but that is an interesting thought as I have been toying, again, with completely optional premium accounts that for a small fee would give some 'enhanced stuff' on the site. It could be interesting to tie the two together - shareholders getting virtual bonuses in return for their support. Non-shareholders would get nothing less than they do now.

Immediate concerns would be the legal requirements for a share offer and the subsequent ongoing administrative costs of a share register, even though it would be relatively static.

Sounds a good idea to me. The share register can be as simple as a note book - you can buy them for about £20 from many places.

 

[hans kraay fan club]

There's 100.

No I hadn't, but that is an interesting thought as I have been toying, again, with completely optional premium accounts that for a small fee would give some 'enhanced stuff' on the site. It could be interesting to tie the two together - shareholders getting virtual bonuses in return for their support. Non-shareholders would get nothing less than they do now.

Immediate concerns would be the legal requirements for a share offer and the subsequent ongoing administrative costs of a share register, even though it would be relatively static.

"f*** off **** mods. You can't ban me. I'm a shareholder." etc, etc...

 

[Westdene Seagull]

"f*** off **** mods. You can't ban me. I'm a shareholder." etc, etc...

- only because you're a shareholder doesn't stop you from being "sacked " !

 

[Dick Knights Mumm]

Bugger! What's with this "transparency" all of a sudden? I thought the mods were going to divi out the funds at our next little get-together.

Photo from the last one:

Well done Bozza. NSC - safe in your hands. Appreciated.

 

[hans kraay fan club]

Photo from the last one:

Well done Bozza. NSC - safe in your hands. Appreciated.

....

 

[NMH]

So basically, Bozza has sold NSC like the Goldstone got flogged, fobbed us off with it being necessary blah blah blah, and he gets to dodge taxes and laugh all the way to the bank.

I see

 

[cloud]

So and he gets to dodge taxes and laugh all the way to the bank.

Blue Seagull gets to pay the tax instead, and being a company they'll pay it at a much lower rate

 

[daveinprague]

Ees complicated

 

[El Presidente]

I'm a Northerner. Any chance of buying the majority of the shares for £56.25?

 

[PILTDOWN MAN]

The problem with a share issue is that you would need the investment to out way the capital. You could issue 100 £1 shares for an investment of say £10 per share but this would only amount to £1000 but as you already have over £2000 in the bank you would need to issue more to yourself, basically the balance of account plus the before mentioned expenses to cover what is for the purposes of the company, your money. You would need to keep the majority share.

On top of that you could of course only issue non-voting shares to the NSC investors keeping the voting shares for the boardroom! (Sounds like Dallas and the 10 voting shares for those of us old enough!)

This advice is worth what it has cost you. Rock all

 

[ferring seagull]

Well half of that is true, anyway.

NSC no longer 'belongs' to me personally but to a company called Blue Seagull Technology Limited. I'm not sure anyone has noticed yet, but at the bottom of every page on NSC is the line:



Why has this been done?

I spend quite a bit of time tinkering behind the scenes on NSC, more than Mrs Bozza is probably happy with, and recently that has focused on the adverts we carry. The result has been a dramatic upswing in advertising revenues - NSC is earning some pretty decent money now. By way of example, although it looks as though it may have been a freak month, in January NSC earned c£2,500 from Google Ads alone.

Unfortunately, with NSC 'belonging' to me, all NSC profits would be seen as personal income and as such would be liable to my income tax etc. Needless to say, I'm not a basic rate tax payer.

What does this mean?

Day to day it makes no difference at all - NSC is the same NSC it has always been, for better and for worse.

With NSC sheltered in a limited company this tax burden will decrease, meaning NSC will have to give less earnings to the tax man, which is good. However we will be paying an accountant a small fee for helping with annual returns and the like.

There is an additional benefit in all this for me. From time to time I receive various threats of legal action relating to posts on NSC. To this day none have come to fruition, but if they did, there is now far less chance of me losing my family home as action would be against Blue Seagull Technology which could easily be liquidated.

Also, with NSC's various domains now registered to Blue Seagull's registered office in Reading, maybe I'll get less personal threats from people who previously found it easy to find my details. Yes, sadly that does happen.

There are a few financial bits and pieces that have got caught up in the transition, most notably the Amazon Christmas shopping prizes. I'm just waiting for a guide on how to deal with those, but rest assured they WILL be honoured.

Now, I realise most of you will not care about this one jot - you like just rocking up here, posting some stuff and going away again. However, I've always tried to be transparent as I know some people do care.

D

I think you can take enormous satisfaction out of what you have achieved here.

Looking at other Fans' forums, as one does, no way is there anything to compare.

ABSOLUTELY WELL DONE !

Hoping that you will nonetheless be a regular participant !

 

[Barnet Seagull]

can i be a non exec director?

i charge highly unreasonable rates for turning up to board meetings completely unprepared.

I can do the same, but with the added advantage of never actually turning up



...and good job Mr Bozza Sir.

 

[NMH]

Blue Seagull gets to pay the tax instead, and being a company they'll pay it at a much lower rate

Yes, that was how it worked....then they built a Toys-R-Us on it!

 

[middletoenail]

So going forwards [MENTION=6886]Bozza[/MENTION] will you still be the man entrusted with running the site from a technical perspective and what is in this for Blue Seagull Tech?

Im not prying (well yes I am), I'm just interested!

Ps - Thanks for your time on this site, compared to some of the sites out there this is up there with the best

 

[Bozza]

So going forwards [MENTION=6886]Bozza[/MENTION] will you still be the man entrusted with running the site from a technical perspective and what is in this for Blue Seagull Tech?

Im not prying (well yes I am), I'm just interested!

Ps - Thanks for your time on this site, compared to some of the sites out there this is up there with the best

Sorry - I obviously wasn't explicit enough...

Blue Seagull is wholly owned by, errrr, me. Which is why nothing has changed from a day to say perspective. Simply - you're stuck with my slightly random, cider fuelled ways.