Governance - vcghonline

The Velo Club of Godalming + Haslemere Limited (VCGH or the Club) is a private company limited by guarantee. This is an alternative type of corporation used for non-profit organisations.

The Velo Club of Godalming + Haslemere Limited has four trading names, VCGH, VCGH Racing, VCGH Youth & VCGH Jets. Accounts and property held under those trading names are the property of the Velo Club of Godalming + Haslemere Limited and therefore its shareholders the voting membership of the Velo Club of Godalming + Haslemere Limited

In October 2014 VCGH was accepted under the Community Amateur Sports Club Scheme (CASC) giving the club a number of specific benefits:

As a registered CASC club we can benefit from 80% mandatory rate relief, Gift Aid on qualifying donations from individuals and companies as well as Gift Aid Small donations payments on small cash donations from individuals.

As a CASCs we also benefit from Corporation Tax Reliefs:

Exemption from Corporation Tax on UK trading profits if the turnover from that trade is less than £50,000 per year (increased from £30,000 per year from 1st April 2015).
Exemption from Corporation Tax on UK property income if the total income from property is less than £30,000 per year (increased from £20,000 per year from 1st April 2015).
Full exemption from Corporation Tax on interest received and on chargeable gains.

VCGH does not have a share capital or shareholders, but instead has members who act as guarantors. The guarantors (The Members) have given an undertaking to contribute a pound in the event of the winding up of the company. This guarantee was given when members signed the Membership Application Form on joining the club.

VCGH is bound by a set of Club Rules which together with the Articles and Memorandum of Association form the governing documents of the Club.

The Club is managed by a Board of Directors who are elected by the membership at the Annual General Meeting held once a year in Jan Feb or Mar. The directors together with members that they choose to appoint form the Organising Committee. The Organising Committee runs the club on a day to day basis. The Board of Directors together with the Organising Committee are responsible to the members for the fair and proper running of the Club.