Help with investor

Discussion in 'Accounts & Finance' started by Lolhb, Feb 19, 2021.

  1. Lolhb

    Lolhb UKBF Newcomer Free Member

    4 0
    I'm doing bookkeeping for a transport Ltd company who has been trading 7 months.
    An investor (friend of owner) has purchased a second hand vehicle for company, which is being used and registered to company. So I understand that's an asset.
    But the friend, who is having shares for his investment, doesn't want then yet. Or on the balance sheet in any way. Not yet.
    Can the company use a vehicle With out it being out on system

    Thanks for help
     
    Posted: Feb 19, 2021 By: Lolhb Member since: Feb 9, 2021
    #1
  2. JEREMY HAWKE

    JEREMY HAWKE UKBF Legend Full Member

    5,565 1,992
    rent it to them if the miles traveled are high £900 a month is reasonable if they are lower 5 to £600 is the going rate
     
    Posted: Feb 19, 2021 By: JEREMY HAWKE Member since: Mar 4, 2008
    #2
  3. Scalloway

    Scalloway UKBF Legend Free Member

    16,868 3,589
    Being registered in the company's name just means that that is who receives parking tickets incurred by the vehicle.
     
    Posted: Feb 19, 2021 By: Scalloway Member since: Jun 6, 2010
    #3