Guest Posted August 5, 2011 Share Posted August 5, 2011 Hi all If it goes ahead and I take over school club how do we go about valuing assets that I have to pay for when I take over...if its alot then Im not sure I could do it!! Thanks Link to comment Share on other sites More sharing options...
finleysmaid Posted August 5, 2011 Share Posted August 5, 2011 If you are bying from the school club and there is no need for them to have any money (for redundencies etc) then you could give a low value to your 'stock' items...if you are selling and need to give a true valuation you have to go through the itinerary and price up each item to get to the total. Each item can be marked as good/fair or poor condition and work out a market value. What i would say is it is worth looking at second hand office furniture suppliers for prices....most are quite low at the moment so dont overpay...you can of course refuse to buy anything...so dont think you are doing the club a diservice by offering them a low amount. Are you going to be registered as a charity?(i assume not) only if you are they could give you everything as a charitable donation.Does the club have an accountant? Link to comment Share on other sites More sharing options...
Inge Posted August 5, 2011 Share Posted August 5, 2011 when we had an accountant and I asked about assets he said it was not actually very much as we did not own any property and that after 3 years most things had depreciated in value so much as to not be counted as being a true asset so only a small payment would be made for them.. even the laptop he said was virtually worthless after 3 years.. at moment second hand stuff is not selling at a great price - just remember you are not valuing for replacement as in insurance but at actual value of items... check ebay and see if any of the similar goods are actually selling.. often check on there to see if it is worth selling something and a lot of the time items don't sell at all. Link to comment Share on other sites More sharing options...
HappyMaz Posted August 5, 2011 Share Posted August 5, 2011 I'd agree with what everyone is saying about things having a low resell value. When I took the nursery over the previous owner had an accountant put a value on the business including all the resources it was way more than I could afford and about four times the amount I actually paid in the end. It did give us a good basis on which to build our negotiations though, and in our case it was a private group passing to a new owner and so there was no complication of having a committee. If you're interested I can give you an idea of what I have managed to sell things for so far, and an idea of what I hope to sell the remaining resources for. Ultimately it seems to me that your setting has two choices - they can sell the resources to you at a suitably low price so that you can get your group off to a flying start under private ownership or they can charge you so much that it won't be worth your while taking over at all and then the group will inevitably close. My advice to you would be to view this as a business negotiation and don't let sentiment get in the way. Don't pay any more than you can afford, bearing in mind that you'll need to be able to generate enough income to pay wages for the staff you'll now be employing, as well as paying yourself something for the work you're currently doing voluntarily. Link to comment Share on other sites More sharing options...
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