G
Gritter
- Original Poster
- #1
Afternoon All,
I am in the process of setting up a winter gritting company. Things are not going as fast as I want them too at present in relation to funding as they proceed through the necessary channels (takes 4-6 weeks). The company will be set up as a limited company, but I am holding fire on actually setting the company up until approximately mid august. I wont actually start making money until November with the contracts I have in place. In the interim, I want to purchase some machines out of my own pocket. If I do this, can they be introduced into the company as assets, and once the company is set up and starts making a profit, can I with draw them out as cash? as they will be purchased out of my own funds?
I dont want to buy them, and they get absorbed by the company.
I can purchase machines alot cheaper now, as to what they will be in a month or two time. significantly cheaper.
I have my eye on 2 machines now, but at the price in which they are at - they will not be there for long.
If someone can shed some light I would be much appreciated.:redface:
Regards,
Dave
I am in the process of setting up a winter gritting company. Things are not going as fast as I want them too at present in relation to funding as they proceed through the necessary channels (takes 4-6 weeks). The company will be set up as a limited company, but I am holding fire on actually setting the company up until approximately mid august. I wont actually start making money until November with the contracts I have in place. In the interim, I want to purchase some machines out of my own pocket. If I do this, can they be introduced into the company as assets, and once the company is set up and starts making a profit, can I with draw them out as cash? as they will be purchased out of my own funds?
I dont want to buy them, and they get absorbed by the company.
I can purchase machines alot cheaper now, as to what they will be in a month or two time. significantly cheaper.
I have my eye on 2 machines now, but at the price in which they are at - they will not be there for long.
If someone can shed some light I would be much appreciated.:redface:
Regards,
Dave
