Reply
 
Thread Tools Search this Thread
 
Old 08 August 2005, 05:56   #1
Member
 
Country: Belgium
Town: NIVELLES BELGIUM
Boat name: INDEPENDENT
Make: BWM RAPIER
Length: 9m +
Engine: Ob 2*250/2t yams hpd
MMSI: 235030702
Join Date: Aug 2004
Posts: 885
book values Rib

My rib is currently on my company's books. I need to sell it to myself at the
book value. Any idea how you caluclate this??

year end .........1993
Make ...............BWM 28' rapier
Purchase value..55000 quid fully equipped - two man cabin, chartplotter, radar . 2x200 hp 2t carb yams 1993.

The electronics were replaced in 2002 and the engines this year. All this was paid by myself personally- so that in fact I would have to pay just the hull
and tubes. so what is it worth??
hull & tubes VAt excluded??

thanks anybody

jonathan
__________________

__________________
eupa is offline   Reply With Quote
Old 08 August 2005, 06:18   #2
Member
 
Country: UK - England
Town: emsworth
Boat name: the black stuff
Make: BALLISTIC
Length: 8m +
Engine: 2 x 200hp etec's
Join Date: Dec 2003
Posts: 446
if its already on the book then it has a value as a asset of the company ( or is that me being stupid ) so thats what you pay , if you did not write it dowen properly get a new acountant
__________________

__________________
RIVA is offline   Reply With Quote
Old 08 August 2005, 06:51   #3
Member
 
Nick Hearne's Avatar
 
Country: UK - England
Town: Bucks
Boat name: Blue & Ding Dong
Make: Ribeye,SR4 & Bombard
Length: 6m +
Engine: 115,50 & 15Hp Yams
Join Date: Feb 2004
Posts: 3,242
Quote:
Originally Posted by RIVA
if its already on the book then it has a value as a asset of the company ( or is that me being stupid ) so thats what you pay , if you did not write it dowen properly get a new acountant
I second this word for word, it is not what it is worth but what it has been written down to!
__________________
Nick Hearne is offline   Reply With Quote
Old 08 August 2005, 07:00   #4
Member
 
Country: UK - England
Town: Isle of Wight
Length: no boat
Join Date: Oct 2004
Posts: 154
A true accountant would ask "What do you want it to be worth?".

Do you want to make a gain or loss on disposal. Have you considered the tax position wrt corporation, income & VAT?
__________________
rbw156 is offline   Reply With Quote
Old 08 August 2005, 07:15   #5
Member
 
Country: UK - Wales
Town: swansea
Boat name: Too Blue
Make: BLANK
Length: 8m +
Engine: Suzuki DT225
Join Date: Mar 2004
Posts: 12,791
Quote:
Originally Posted by Nick Hearne
I second this word for word, it is not what it is worth but what it has been written down to!
Not true at all - depreceation is usually taken into account by most places. Just look how much cars or computers lose!!!
__________________
codprawn is offline   Reply With Quote
Old 08 August 2005, 07:17   #6
Administrator
 
John Kennett's Avatar
 
Country: UK - England
Town: Brighton
Length: 3m +
Join Date: May 2000
Posts: 6,830
I think you'll find that's exactly what Nick is saying!

John
__________________
John Kennett is online now   Reply With Quote
Old 08 August 2005, 07:22   #7
Member
 
Country: UK - Wales
Town: swansea
Boat name: Too Blue
Make: BLANK
Length: 8m +
Engine: Suzuki DT225
Join Date: Mar 2004
Posts: 12,791
Sorry I mistook what he meant by written down - been having one of THOSE days!!!!
__________________
codprawn is offline   Reply With Quote
Old 08 August 2005, 07:24   #8
Member
 
Nick Hearne's Avatar
 
Country: UK - England
Town: Bucks
Boat name: Blue & Ding Dong
Make: Ribeye,SR4 & Bombard
Length: 6m +
Engine: 115,50 & 15Hp Yams
Join Date: Feb 2004
Posts: 3,242
Yep it is John!
Example just sold my company car it was written down to 6,600 on the books, but was worth a lot more ( just sold it for 8,000) if I had wanted to keep it personally I would have paid the 6,600 for it Not the 8,000 I got for it!
Dose that make it clear?
__________________
Nick Hearne is offline   Reply With Quote
Old 08 August 2005, 07:26   #9
Member
 
Nick Hearne's Avatar
 
Country: UK - England
Town: Bucks
Boat name: Blue & Ding Dong
Make: Ribeye,SR4 & Bombard
Length: 6m +
Engine: 115,50 & 15Hp Yams
Join Date: Feb 2004
Posts: 3,242
Quote:
Originally Posted by codprawn
Sorry I mistook what he meant by written down - been having one of THOSE days!!!!
It's monday, say no more!
When you getting that boat on the water?
Nick
__________________
Nick Hearne is offline   Reply With Quote
Old 08 August 2005, 08:52   #10
Member
 
Country: UK - Wales
Town: swansea
Boat name: Too Blue
Make: BLANK
Length: 8m +
Engine: Suzuki DT225
Join Date: Mar 2004
Posts: 12,791
Quote:
Originally Posted by Nick Hearne
It's monday, say no more!
When you getting that boat on the water?
Nick

God knows - was hoping start of August but end is looking a lot more likely!!!!
__________________

__________________
codprawn is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off





Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -5. The time now is 05:16.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.