Funding Countdown - £63,190

[super_les_mcjannet]

Reward £20,900
Equity £42,290


Total £63,190

[Darlofan97]

£62,940

[super_les_mcjannet]

Updated, got to say we have managed to get so much more than I thought we would.

I don't believe the cheques have been added and not sure if the football staff has been added either.

[Darlofan97]

Updated, got to say we have managed to get so much more than I thought we would.

I don't believe the cheques have been added and not sure if the football staff has been added either.

Agreed, I actually thought that we would fall short and the CIC or DFC would have to invest to make up the shortfall, if that was legally possible. I think it was mentioned that we could invest in our own pitch.

If that is the case with the cheques (it was mentioned at the fans forum that they would only be cashed once the pitches had closed) then we may well be in for another little boost.

[quakerfan]

The final day has ended now so unless there is to be some form of updating the figures or late contributions we have the actual totals with the equity fund clocking up a staggering achievement @ 90% of target , something I would not have believed possible .
Reward 136 pledgers , 42.2% of target @ £21,100
Equity 34 pledgers , 89.6% of target @ £44,803
TOTAL £65,903

[PaulMJohnson]

The final day has ended now so unless there is to be some form of updating the figures or late contributions we have the actual totals with the equity fund clocking up a staggering achievement @ 90% of target , something I would not have believed possible .
Reward 136 pledgers , 42.2% of target @ £21,100
Equity 34 pledgers , 89.6% of target @ £44,803
TOTAL £65,903

If I remember rightly, Squareknot's cut is 5%, so they'll take £3295, leaving Darlo with £62,608.

Lop off the £50k for the contingency reserves, add in the £10,200 that http://www.backtodarlo.co.uk shows, and that's £22,808 in the pot to get started with moving back to the town.

A hell of a start.

[Quakerz]

Yes, an unbelievable amount raised.

I just hope that now Darlo fans have bailed the club out once again, that we can actually raise more money for the B2D fund, because that is what's going to get us home.

[lo36789]

I just hope that now Darlo fans have bailed the club out once again, that we can actually raise more money for the B2D fund, because that is what's going to get us home.

I am quite optimistic of that. Once we have paid the initial £20k I think we can get started and raising money for specific parts of the ground (at least I would suspect we can!?).

I saw some comments on facebook that £20k was the minimum amount to get home, I actually can't understand where that person could get that impression from!? It's not like the information isn't clear that £20k basically pays off consultancy fees, then we need more money to actually get back.

As I understand it cheques are still to go in. It will be interesting what we do with the new ground and whether we can built it incrementally or actually need all the money in before we would start anything. Obviously we still need rugby club members sign off still anyway.

I understand the risks of doing the former but at the same time it could really get some momentum going.

For instance could we do the paving around the pitch with the initial surplus, then put up the perimeter fence as well. At that stage could we then maybe host a football match? Even if attendance was restricted to 1,000, charging £10 in would be a pretty good boost.

[Spyman]

Do we have to pay VAT on the donations? I presume so?

So that leaves us with just over £50k cash if my maths is correct.

[lo36789]

Do we have to pay VAT on the donations? I presume so?

So that leaves us with just over £50k cash if my maths is correct.

I am not sure. A 'donation' is exempt from VAT as you haven't actually provided a value add service to somebody.

All equity monies are exempt from VAT as well again as it isn't a service that is provided. The things that are due for tax would be the actual products sold, so the parts of the reward scheme. At most it would be 20% of the £21k or £4,200.

I might be being overly optimistic here, but the VAT liability attached could that not be done based on the residual value of the 'rewards'? If you broke down the reward package for instance;

Club Shop Voucher (VAT)
Hospitality Package (VAT)
Donation (Exempt)

Could you get away with only paying VAT on the value of the club shop voucher and hospitality packages (at whatever the market rate is for them)?

[Twintowers]

Do we have to pay VAT on the donations? I presume so?

So that leaves us with just over £50k cash if my maths is correct.

Isn't VAT only applicable to sales?.Dont think a donation would apply (hopefully),we can do without losing a lump to the taxman.

[Mr_Tibbs]

It's called a gift reward scheme. Do you pay VAT on gifts?

[lo36789]

It's called a gift reward scheme. Do you pay VAT on gifts?

Well generally you don't pay for gifts so no.

I don't think we could say that we are releasing a new gift rewards scheme in August. "A £200 donation gets you a free season ticket". To all intents and purposes you are just paying for that product.

[BlackandwhiteBOB]

Cheques appear to have been added on now. £7500 added today. Very nice boost!

[BlackandwhiteBOB]

£73,503 I now make it with my very quick maths!

[poppyfield]

Looks like a bit of a jump.

Reward £28,600
Equity £44,803

total 73,403

[BlackandwhiteBOB]

I jumped the gun, cheques are still being added!

[Quakerz]

Fucking hell, well done Darlo fans!

A good time to be the Darlo bank account...75k for Burn, a few k for Smith, nearly 75k from the fans, and another Burn clause soon due!

[Quakerz]

£74,603 raised at this point, mental.

[BlackandwhiteBOB]

£74,603 raised at this point, mental.

See how high we get, cheques are still going on now. Is 80K possible? Seriously great effort.

[BlackandwhiteBOB]

Fookin hell! Equity is now over the 100% mark, fully funded. £51,303 in equity alone.

[BlackandwhiteBOB]

£81,703 now.

[Darlofan97]

£55k in the equity scheme

[Quakerz]

£85,453 total so far!

[tezza]

Gone mental. St Theresa in with a shout maybe

[charlie]

Well done everyone x

[TinShedDarloFan]

an amazing total, hopefully a big crowd tomorrow night to help boost the coffers even more

[DarloMoose]

Well done everyone..!! An incredible amount raised

[lo36789]

Quality! We are nearly half way there on B2D now!

[AndyPark]

Absolutely fantastic.