marcobermann
200
Just Wow! what an interesting read
I really love reading about just how the law works and is implemented and for me that made for some really fascinating and educational reading. If I'm honest these sort of disputes as can be seen in this case usually start but not making clear at the start exactly what conditions are needed to be met by both parties to activate this type of agreement and making them clear in contract to avoid just this sort of issue is of the utmost importance. Just assuming everyone is on the same page with the same criteria is what leads to this type of dispute IMO the claimants where justified in their claim and deserved the judgment which they got.
What I did find most interesting was the turnover and profit figures as 3%-4% seems extremely low to me.
I know a business like this has massive overheads but from experience also know that they work on a roughly 40% mark up on watches they buy in and then re sell even allowing for all the costs in preparing and storing these watches and staff costs and marketing etc I still struggle to understand the profit on turnover figures noted.
Marc
I know a business like this has massive overheads but from experience also know that they work on a roughly 40% mark up on watches they buy in and then re sell even allowing for all the costs in preparing and storing these watches and staff costs and marketing etc I still struggle to understand the profit on turnover figures noted.
Marc
Interesting legal judgment re. "Watchfinder"
Some of you may be familiar with the "Watchfinder" website, which buys and sells used watches in the UK. In the course of my work, I came across a recent legal judgment in which the Court found against Watchfinder in a shareholder dispute. The judgment sh...
Very instructive (and tedious) reading ...
which goes to show that you have to be quite wary when going into partnership or even entering into a services agreement, because a "marriage" is enjoyable and can be done quickly in passion, but a divorce is painful and drawn-out (speaking here of compan...
Just Wow! what an interesting read
I really love reading about just how the law works and is implemented and for me that made for some really fascinating and educational reading. If I'm honest these sort of disputes as can be seen in this case usually start but not making clear at the star...
Profitability
I have no problem in understanding the low net margins for a UK registered unlisted company. Just assuming: Directors' bonuses/fees/remuneration are charges against profits so the annual profits of the business would have likely been extracted in that way...
Financials
UK is a very transparent country, you can find their financials in the online companies house for free: - then click on Full Accounts 2016 61m sales, 51m cost of goods sold, 3.3m operating profit essentially they have ~16% gross margin on watch sold befo...
Companies House
I use the Cos Hs website on a weekly basis for my work researching and filing information online there. It is now much better than it used to be. I did not bother to look up Watchfinder. Best Clive
