The last threads of our email conversation on this subject.
Email H to D
Hi D,
thought I would ask you before putting this to R.
Before moving ahead with this am trying to get my head around the accounting for the last few years.
External projects that raise money through VOTV pay a 10% service fee to cover core costs, this has been the case since the start of the project and repeated each time we did a fund-raising that I was involved in. Can I check if this 10% was taken out of the resistance expo funding over the last 2 years for each grant.
If it was not then we have a sizeable over spend issue rather than money left in the account.
would like to get an understanding about this before moving forward.
R to H
Dear H
I think that would demonstrate bad faith, given that you have taken control of the company without the agreement of other shareholders or colleagues. D has offered to do this transfer in your stead, but you said you would do it yourself. If, as the beginning of a way of resolving this situation, the money is not transferred, I will inform the other shareholders that the company's account has been compromised. Please respond to this email by the end of today.
H to R CCing D
Having spent some time looking through the accounts, please see below some notes:
The exhibition has put £6346.50 through the Visionontv Ltd account (payed by Lush in two separate dates. One of £3000 on the 04th November 2016 and a second one of £3346.50 on the 3rd February 2017). From this amount a total of £5605.35 as been payed out as multiple direct payments.
It was agreed that a 10% services fee for every project would be left on the Visionontv’s account in order to cover running costs such as filing, Company's House, bank charges etc., which means that 10% of the £6346.50 i.e.£634.65 are to be left on the account.
Looking at the numbers, we are at the moment, left with £106.5 from the exhibition funding on the account.
You’ve mentioned that £507.77 are still outstanding as expenses. If you like we can cover the shortfall as a goodwill gesture from the Visionontv funding. Regarding the next batch of funding, made out to Visionontv for the exhibition we could transfer the funds out (with the 10% service fee) if you would like to do that.
R to P,H,D
Hi H and D
OK so there's more in the visionOntv account from the Resistance Lush money than my figures show, for two reasons that I've been able to check:
-
LUSH paid £3346.50 in February, not the figure in my accounts of £3270.13. = difference of £76.37
-
And Phoenix and I submitted expenses to D in March of £162.94, of which by accident only £58.96 were paid = difference of £103.98 (I checked this with D).
TOTAL UNDERAGE of £180.35
Add the £507.77 which my accounts show as remaining = £688.12
The remaining sum you are showing however is £643.65 + £106.50 = £750.15, a difference of £62.03
You say that "It was agreed that a 10% services fee for every project would be left on the visionOntv's account." I do remember this being discussed, but don't recall anything minuted or agreed to that effect. Given the unusual current situation with the visionOntv account, I am agreeing with your offer to honour the transfer of funds from visionOntv.
That £62.03 we are happy to leave with visionOntv as a good will gesture, as I can't account for it, and no one is out of pocket as a result.
So please transfer £688.12 at your earliest convenience (bank details below). Then I can pay people's expenses for the Resistance project well before Christmas.
As for the small grant cheque which has arrived (£1711), I would expect this to be a straightforward pay in - pay out. A cut of 10% for visionOntv for this simple service is excessive. If this cannot be agreed, I will request that the funders make out the cheque for a different account, but this may of course jeopardise the payment, so I hope this can be agreed as a good will gesture.
We then need to meet to discuss the fate of visionOntv. I would only raise concerns with other shareholders if I thought something nefarious was occurring, which I am not currently ready to believe. I am confident in the hope that a meeting would help enormously to sort this out.
R to H,D,P
I still have received no reply to my last two emails on the unresolved situation of the Resistance Archive / Exhibition finances. I will wait until 9am Monday morning before informing the other shareholders that our account is no longer controlled by our book keeper and company secretary, and has been taken over by a single shareholder and compromised.
H to R,D
There is no agreement on the outstanding budget of the resistance exhibition
My proposal to move forward would be to split in 2 the remaining money on the visionontv current account, after paying all expenses, to step away from the argument once for all.
Total on the account is currently £1058.95 from which:
£715.15 resistance exhibition.
£688.12 will be paid to you as per your previous email. Please do send us an invoice of this amount.
£303.19 is outstanding to me for paid server costs and domain renewal.
£991.31 total
This leaves the account with total of £67.64 common budget left on the visionontv account.
This years accounting expenses comes to a similar amount of last year's of £747. Meaning that visionontv is left over with £600 in DEBT this year and there is no common budget remaining.
R to H, D
H
Thanks for the reply. I will respond to its totality in due course. Right now, the invoice for the Resistance Archive follows.
Best wishes
This email thread ends he has still not responded.