Readers' forum : Sailing away

I act for a client who is the director of a small manufacturing business and his company. He and a group of friends have been granted the use of a building and plot of land by a beach and have permission to run a sailing club.

After the property has been refurbished the intention is that the building will be used as a clubhouse and changing rooms. The land will be fenced off and used as a secure compound where dinghies can be kept.

The associated costs will be met by the members making initial one-off contributions and subsequent membership fees to cover ongoing expenditure. I have been asked to deal with the club accounts and advise on how it should be established but this is where I would appreciate some advice.

My thought was that the club could be run as a limited company with the initial...