“
Well
I’ve never helped form a partnership retroactively but I see no
reason why it can’t be done. Okay. Put April 1st for the start date
Jenny. How will you divide the ownership?”
“
Bob
owns 51% and I own 49%.”
“
That’s
a good choice. What capital will each of you
contribute?”
“
We have
calculated that. Bob will put in £2,550, but he already has put in
several assets, so he only has to contribute £1,450. Same for me. I
put in £2,450 but I’ve put a few assets so I contribute £2,345. We
plan to open a business bank account with this money this week. Is
this a sensible way to contribute capital?”
“
Very
sensible. You’ve done your homework. How will you distribute the
profits or add more money if the company needs it?”
“
Just as
the partnership suggests. I put in 51% and Ken puts in 49%,” said
Bob.
“
And we
take it out in the same way. Bob takes out 51% and I take out
49%.”
“
Fine.
What will be your fiscal year?”
“
We
think that April 1st would be easiest for our accountant even
though we might be busy as a company at that time of the year.
That’s usually when I have to make a lot more sets for the
tourists. They’re the ones that buy most of them.”
“
Who is
going to be your accountant?”
“
I
thought about Simon Delare, Arthur,” said Ken. “He does my income
taxes. Do you know him?”
“
Yes I
do. I’ve used him a few times. He knows his stuff in the real
estate and income tax fields. Have we ever used him as an
accountant Jenny?”
“
We used
to do that Mr. Glone. We didn’t have any trouble with his work but
five years ago you let your nephew do them.”
“
Ah yes.
That’s right. Well either would be okay for you. Who do you want to
try Ken, Bob?”
“
We
might as well go with the one you already know Ken.”
“
Okay
we’ll ask Delare. If he’s too busy we’ll let you know
Arthur.”
“
All
right. Will both of you have signing authority?”
“
Yes,”
said Bob.
“
How do
you make decisions?”
“
By
mutual consent I expect,” Bob said.
“
Though
you’ll have the final decision Bob, since you have the most
shares.”
“
Yes I
suppose so.
“
You’ll
also be the nominated partner.”
“
What’s
that?” asked Ken.
“
The one
that is responsible for sending in the tax return. Simon will tell
you all about that. Lastly, how will you dissolve the
partnership?”
“
By
mutual consent,” said Bob looking at Ken.
“
Sure,”
Ken added.
“
Okay,
that’s all I need,” said Arthur. “Do you have any
questions?”
“
No I
don’t,” said Bob.
“
Nor me.
When do we sign the agreement?”
“
You can
probably do that this afternoon. Can you have it ready by then
Jenny?”
“
Certainly. Anytime after two would be fine.”
“
Come
back at two and we’ll be your witnesses. Can you manage
that?”
“
Yes we
can. Thanks.”
Arthur showed
them out and they looked at each other and smiled again.
“
Well,
we’ve done it. It’s almost feels like a marriage; I hope that we’ll
be very happy together Bob.”
“
And
profitable too Ken!”
They were too
content to start shopping so, even though it wasn’t yet eleven,
they decided to go to a pub and have a drink to celebrate.
After drinking
to the success of the company Bob took a pad of paper from his
folder. “We need to make a to-do list Ken. First, we should call
Simon Delare and see if he’ll be our accountant. Second, you said
that band saws would be better to cut the houses and pieces so we
should buy them. Third, I’d like to go to the library and photocopy
the yellow pages of toy and gift shops in Southampton. Then visit
one of them—more, if we can do that before seeing Arthur.”
“
What
about lunch?”
“
We’ll
squeeze that in. Let’s call Simon Delare now. If he won’t be our
accountant then we must tell Jennifer. Can you phone
him?”
Ken used the
phone in the pub’s hallway then returned.
“
Yes,
he’s happy to look after us. I asked him about costs and he said
that looking after the taxes for a small firm like ours won’t cost
much if we keep good records of our income and
expenses.”
“
That’s
good. I’m constantly worried about the bills we’ll be
getting.”
“
Don’t
worry Bob. We’ll be alright.”
“
Let’s
make that our motto Ken: ‘Don’t worry, we’ll be alright’. It might
help me to cope with my anxieties if I keep reminding myself to say
it!”
“
Sure!”
and they lifted their glasses and smiled at each other as they
repeated the words.
“
Why
don’t we have an early lunch here and do the shopping afterwards.
They have fish and chips,” said Ken.
“
Alright. Another pint?”
“
Not for
me Bob. I have to drive and there’s too much traffic to take a
chance.”
“
Then I
won’t either.”
Afterwards Ken
drove to the town’s lumber yard and asked if they had any
second-hand band saws.
“
We’ve
two. They’re over here” and he took them to a side counter. “Are
these the kind you wanted?”
“
You
make the decision Ken, but how much are they?”
“
This
one is sixty pounds; that’s forty-five. Both are in good
condition.”
“
I’ll
take that one.”
“
That’s
the cheap one Ken. Do you think it is good enough?”
“
The
adjustment controls work okay, I’ve just tried them, and the blade
looks like a new one. Yes this’ll do.”
“
Oh,
yes, I can see that now. I should have asked a fifty for
it.”
“
Too
late! We’ll buy it for forty-five.”
They walked to
the till and Ken gave the man his credit card and collected a
receipt. “You don’t have to repay me until the end of the month
Bob,” he said as they walked to the car.
“
You can
have the money as soon as we have opened our account. When should
we do that?” asked Bob.
“
Can we
make it Saturday? My bank, the National Westminster, is open on
Saturdays. They know me and that will make opening a business
account simpler. I’ll come for you at ten?”
“
Okay.
I’d like to do some shopping afterwards. Would you mind
that?’
“
No not
at all.”
“
While
we’re there you should meet Jenny Wood, the owner of
Home and Holiday
. She’s sells our
toys.’
“
Alright.”
The next stop
was the library where the librarian photocopied the yellow pages of
the gift shops and also copied a business list provided by the
town’s tourist association.
“
It’s a
pity I forgot to bring samples Ken. We could have found out if any
would sell them for us.”
“
There’s
two shops along the main street Bob. I’ll park there and we’ll
check their windows and find out if they already sell anything
similar. It’s only one thirty so we have time.”
Parking was a
bit difficult but they eventually found a place. They paid for
twenty minutes and walked to the first shop.
“
Nothing
I can see Ken. Do you see anything?”
“
No.
They might have some inside. Let’s go in and ask.”
“
Er, you
do that Ken. I prefer not to go in before I ask them if they’d sell
ours.”
“
All
right. Wait here.”
Ken returned a
few minutes later. “No they don’t have any wooden toys. The girl
says I’m the second person today to ask if they sold them. I think
we’re on to a good thing Bob.”
“
I hope
so.”
“
Let’s
do the same thing in the second shop.”
Ken walked in
and told Bob, as they headed back to the car, that they didn’t have
any either.
Jennifer had
the agreements ready to sign when they arrived at the lawyer’s
office. It took only five minutes to complete the transaction and
sign four copies. “There’s one for each of you, one to register
your partnership with Revenue and Customs and the extra’s for my
files. Jennifer will send you my invoice in a couple of days.”
They could see
a column of smoke as the car approached Small End, coming from the
top of the road where Bob’s house sat.
“
My God,
Ken! Look at that—it’s my house!”
“
You
don’t know that Bob. Could be something else nearby.”
“
Go
faster Ken. We might be able to put it out.”
‘
Hang
on, soon be there,” and he swung the car around Tim’s garage and up
the hill.
As they got
nearer it was clear where the smoke was coming from. “It’s at the
back of the parking lot, not my house,” cried Bob. “Thank God.”
There was a
fire engine in the station’s parking lot and two firemen were
hosing down the remains of a fire. Jim was watching them.
“
They
must be burning the wood from the station,” said Bob. “I’d
forgotten they were going to do that today.”
Ken parked the
car and, as Bob got out, said, “I’ll be at home Thursday and
probably Friday working on the saw jig. I’ll let you know when it’s
ready to try. Can you give me a few pieces of your wood? I’ll work
with mine until I’m ready to try the proper wood so there won’t be
any waste.”
“
Hang
on, I’ll fetch some.”
Bob collected
the wood and took them to Ken. “Then I’ll see you Saturday at ten.
Good luck with the jig.”
After watching
Ken drive away Bob crossed the parking lot to the bonfire and spoke
to Jim. As he did so, Jack, who had been inside the gutted station,
walked towards them.
“
I was
scared when I saw the smoke. I thought it was my house,” said Bob.
“I’d forgotten you were doing this today. It didn’t take long to
rip out the wood then.”
“
No,”
said Jim. “Jack, myself and two other helpers did it all yesterday.
We started the fire as soon as the firemen arrived today and all of
it, except the roof beams and joists, has been burned. Jane came by
a little while ago and said she’d ask the bulldozer to come
tomorrow. It’s likely the driver will have it all down and levelled
by the end of the day. Then we’ll have to wait until the contract’s
let and the builders come.”
“
They’se
usually late,” said Jack.
“
Yes,
because the contractor times contracts as though there is never any
bad weather that’ll slow them down,” answered Jim. “That’s what
happened when I’ve had contractors work on my house.”
“
Aye,
‘tis so,” replied Jack.
“
This
place already looks so different, I guess I won’t recognise it
tomorrow night.”
“
Are you
sad, Bob?”
“
A
little. The station has been here all my life. It was where I could
always find my Dad. It was where I used to play. I guess the only
things that will be the same will be the trains going through. We
have to live with change I guess.” He walked slowly back to his
house thinking about his Mum. He was glad she didn’t have to see
the place knocked down. She liked living next to her husband’s
place of work and could take him a cup of tea anytime or have him
help her in the garden when he wasn’t busy.
There were two
letters on the floor by the front door when he walked in. One was
from Jenny with a cheque for £123.75 and the other came from Leo
and held a cheque for £315. That money immediately cheered him up.
It was his money, payment for sets sold during March and not the
partnership’s. He’d take the cheques to his bank, Lloyds, when he
was in Big End on Saturday. If he added them to his checking
account he’d only have to transfer five hundred from his
savings.
He painted the
second coat in the evening and added the few touches needed of the
last coat.
He had glued
about half of the sets by coffee time on Thursday and was about to
sit down in the lounge when a noisy roar came through the open
window. He put his mug on the side table and walked back through
the kitchen and into the garden. It was a bulldozer, an old one,
with bursts of black smoke exiting its exhaust pipe. He watched it
over the hedge. It moved to the end of the station wall facing him
and began thrusting at the top. The corner rocked, then the end of
the roof split away and a clump of bricks and several roof tiles
fell down. Moving down the wall the bulldozer pushed again,
knocking down much of the central part of the wall. It moved to the
corner and pushed once more: in five minutes all the wall and half
of the roof was on the ground. The driver then took the machine to
the far side of the building and began pushing again. This time
both end walls crumbled and the whole wall fell to the ground. The
driver stopped the machine, turned off the engine and stepped down
carrying a thermos. He sat on the end of the machine and Bob walked
over.