New TVR still under wraps!

[anonymous-user]

I’m not one to be commenting on the front as I think it’s fine and used up far too much of this thread.

This side redesign is utterly stunning though. Well done and Les take a serious note of this:

[spagbogdog]

^^^
100% agreed on that.
The "over-fender" started off in an "arrow" shape on the concept car...and looks a lot sleeker this way.
The side profile of the headlights also looks much sleeker (although I don't like York's front view of the bumper)..

[anonymous-user]

V6 Pushfit said:

I’m not one to be commenting on the front as I think it’s fine and used up far too much of this thread.

This side redesign is utterly stunning though. Well done and Les take a serious note of this:

The side is linked to the front though. That’s the problem with the griff at the moment, it looks like the front and sides and back have all been designed by different people and lacks cohesion.

[Englishman]

twold said:

"Probably time to close this thread and wait until there are facts to discuss!"

Why close it,many are enjoying it,you posted because you were reading it yourself so why deny yourself a bit of entertainment.I am now happily convinced this post will never end and will be the go to discussion even when/if the car ever makes it to production.

I drop in occasionally in the hope there is something useful being reported. Nothing for months, hence the comment! Would much rather a new thread was started when there really is news.

TVR owners tend to be individualistic and nothing wrong with that, but endless speculation is just boring, IMHO.

[anonymous-user]

Englishman said:

twold said:

"Probably time to close this thread and wait until there are facts to discuss!"

Why close it,many are enjoying it,you posted because you were reading it yourself so why deny yourself a bit of entertainment.I am now happily convinced this post will never end and will be the go to discussion even when/if the car ever makes it to production.

I drop in occasionally in the hope there is something useful being reported. Nothing for months, hence the comment! Would much rather a new thread was started when there really is news.

TVR owners tend to be individualistic and nothing wrong with that, but endless speculation is just boring, IMHO.

If you just want facts and not speculation then the tvr website is probably the best place to go

https://www.tvr.co.uk

There probably won’t be anything you’d consider “useful reported” on this thread for months yet.

That’s not the fault of PHers though, that’s due to TVRs woeful communication and lack of progress.

[m4tti]

spagbogdog said:

You said TVR has no heritage.
Yet one of the very first tasks undertaken was to provide a genuine parts catalogue and supply/manufacture there-of. This demonstrates they are just as keen about keeping prior models on the road as they are about building the new one. Which surely reinforces long term customer loyalty, further enhances the brand and helps residual values.
I applaud them massively for this.
I want to be sure I can get parts in the ...

Edited by spagbogdog on Sunday 9th December 07:31

I’m going to controversial here. They need to sort out the “approach” at TVR parts.

Over the years I’d probably spent 15k on parts with those guys. Then I fitted one of their improved “helix clutches”... which lasted approx 3k miles.

I sent the clutch back and even bought the AP and a new flywheel from them, whilst they sent it to “helix for analysis and refurb”. They weren’t interested in any form of reimbursement. The refurbishment was going to cost so much that they could offer me 30 quid.

To get the answer regarding how much they could reimburse me took 6 months.

So yeah a stunning way to treat someone who’d spent a considerable amount with them on their hobby. They’re operating like a little tin pot outfit still trying to pinch every penny, not a main dealer parts support.

I was tempted to mail Les and let him know this is how things are operating at ground level. But couldn’t be bothered to expend anymore energy on it.

That also added to my decision to sell the TVR. Let’s hope the new car gets supported by a network that is totally departed from the existing one.

People that buy cars at this price point generally aren’t stupid and won’t tolerate such nonsense.

[unrepentant]

spagbogdog said:

But you prior said that all Depositor monies had been spent. Now you say that you cannot see that Depositor money in the accounts..!

Which is it..?

The listed ‘intangible assets’ spiked from 2015 and has steadily increased thereafter. I would think that all deposits are included under this label...which would make sense.

I said there was no mention of depositors at all. And there is not. The cash has gone.

I don't think you know much about business if you think debtors cash is listed under "intangible assets".

[spagbogdog]

unrepentant said:

spagbogdog said:

But you prior said that all Depositor monies had been spent. Now you say that you cannot see that Depositor money in the accounts..!

Which is it..?

The listed ‘intangible assets’ spiked from 2015 and has steadily increased thereafter. I would think that all deposits are included under this label...which would make sense.

I said there was no mention of depositors at all. And there is not. The cash has gone.

I don't think you know much about business if you think debtors cash is listed under "intangible assets".

Then clearly you know nothing about ‘key money’

[spagbogdog]

m4tti said:

spagbogdog said:

You said TVR has no heritage.
Yet one of the very first tasks undertaken was to provide a genuine parts catalogue and supply/manufacture there-of. This demonstrates they are just as keen about keeping prior models on the road as they are about building the new one. Which surely reinforces long term customer loyalty, further enhances the brand and helps residual values.
I applaud them massively for this.
I want to be sure I can get parts in the ...

Edited by spagbogdog on Sunday 9th December 07:31

I’m going to controversial here. They need to sort out the “approach” at TVR parts.

Over the years I’d probably spent 15k on parts with those guys. Then I fitted one of their improved “helix clutches”... which lasted approx 3k miles.

I sent the clutch back and even bought the AP and a new flywheel from them, whilst they sent it to “helix for analysis and refurb”. They weren’t interested in any form of reimbursement. The refurbishment was going to cost so much that they could offer me 30 quid.

To get the answer regarding how much they could reimburse me took 6 months.

So yeah a stunning way to treat someone who’d spent a considerable amount with them on their hobby. They’re operating like a little tin pot outfit still trying to pinch every penny, not a main dealer parts support.

I was tempted to mail Les and let him know this is how things are operating at ground level. But couldn’t be bothered to expend anymore energy on it.

That also added to my decision to sell the TVR. Let’s hope the new car gets supported by a network that is totally departed from the existing one.

People that buy cars at this price point generally aren’t stupid and won’t tolerate such nonsense.

100% agreed.
Everything has to be ‘bomb~proof’..including the after~sales. Even down to dedicated ‘one man takes responsibility’ for the servicing..from pick up to drop off.

[Monkeylegend]

spagbogdog said:

Then clearly you know nothing about ‘key money’

Nor do I, could you explain please?

[spagbogdog]

Monkeylegend said:

spagbogdog said:

Then clearly you know nothing about ‘key money’

Nor do I, could you explain please?

Can be listed as an intangible asset..as a form of downpayment’. Commonly used in rental services.
However I thought the terminology very apt in this scenario.

[Monkeylegend]

spagbogdog said:

Monkeylegend said:

spagbogdog said:

Then clearly you know nothing about ‘key money’

Nor do I, could you explain please?

Can be listed as an intangible asset..as a form of downpayment’. Commonly used in rental services.
However I thought the terminology very apt in this scenario.

I thought intangible assets were business elements that exist after monetary and tangible assets have been accounted for, so on that basis the deposit holders money would not be included as a an intangible asset.

[unrepentant]

Monkeylegend said:

spagbogdog said:

Monkeylegend said:

spagbogdog said:

Then clearly you know nothing about ‘key money’

Nor do I, could you explain please?

Can be listed as an intangible asset..as a form of downpayment’. Commonly used in rental services.
However I thought the terminology very apt in this scenario.

I thought intangible assets were business elements that exist after monetary and tangible assets have been accounted for, so on that basis the deposit holders money would not be included as a an intangible asset.

It's ok, you're right of course but you're wasting your breath with fanboy.

Intangibles are IP, Trademarks, "Goodwill" etc... TVR have also capitalized their development costs and included them as intangibles, the write down of which will not start until production commences.

Deposit holders are unsecured creditors, the deposits are the opposite of assets, they are liabilities.

[spagbogdog]

Totally agree that the Dev costs have been capitalised..which is perfectly natural.

Do not agree that Deposits have been ‘frittered’.

[anonymous-user]

spagbogdog said:

Monkeylegend said:

spagbogdog said:

Then clearly you know nothing about ‘key money’

Nor do I, could you explain please?

Can be listed as an intangible asset..as a form of downpayment’. Commonly used in rental services.
However I thought the terminology very apt in this scenario.

I hope one of you two isn’t to do with company accounts for a living !

[Monkeylegend]

V6 Pushfit said:

spagbogdog said:

Monkeylegend said:

spagbogdog said:

Then clearly you know nothing about ‘key money’

Nor do I, could you explain please?

Can be listed as an intangible asset..as a form of downpayment’. Commonly used in rental services.
However I thought the terminology very apt in this scenario.

I hope one of you two isn’t to do with company accounts for a living !

Not me, I always paid somebody to do mine

But I suppose if the deposit holders money has been spent, it therefore no longer exists, so is intangible

[eliot]

I assumed the deposit money was ring fenced as client money - not to be used as essentially working capital?

[unrepentant]

eliot said:

I assumed the deposit money was ring fenced as client money - not to be used as essentially working capital?

Deposit holders are not clients, they are customers. It's not like paying money to a lawyer to hold for use on your behalf. This is just a deposit. If you go to your tailor to order a suit you give him a deposit, a down payment on the suit. If between you placing your deposit and your suit being finished the tailor goes bust you are just another creditor, just like the guy who supplied cloth that hasn't been paid for.

To be treated differently a charge has to be registered and clearly stated in the accounts. In the case of TVRA and TVRM there is a charge over all the assets of both companies by an entity called Fiduciam Nominees Ltd. In the event of a failure they would take what they are owed and the rest of the creditors would get whatever was left.

[anonymous-user]

Are there any employees on the books?

[N7GTX]

unrepentant said:

To be treated differently a charge has to be registered and clearly stated in the accounts. In the case of TVRA and TVRM there is a charge over all the assets of both companies by an entity called Fiduciam Nominees Ltd. In the event of a failure they would take what they are owed and the rest of the creditors would get whatever was left.

Just gone to Companies House for a search of Fiduciam Nominees Ltd. An application to have them struck off was posted yesterday, 11th December 2018.

What does this mean?

https://beta.companieshouse.gov.uk/company/0967234...