This client (a limited company) imports and exports it’s products worldwide in a competitive online retail market, operating via sales platforms such as Shopify and Ebay, whilst monitoring and managing stock using the Veeqo platform and bringing this all together on Quickbooks.
The client had fallen behind with their bookkeeping, VAT, payroll, statutory accounts and corporation tax returns for a two-year period.
Upon resolution of these immediate issues, the client required extensive financial advice to improve efficiencies, increase profits, and raise the funds required to expand.
We continue to operate and maintain all aspects of the client’s financial operations and the company’s success continues to grow year on year.
“If you have the ambition of growing a stable and financially sound company then they should be your partner.”
– Client Feedback
“Over the past few years our business has moved at a real pace and grown year on year. We have undertaken activities such as an equity raise, government investment via a fund (twice) and setting up other tax-related vehicles for our investors. This is on top of the usual day-to-day accounting and forecasting that goes with running a business.
Martin and his team have been pivotal in a lot of what we have done, not just acting as an accountant with limited touch points to our business but more of a hands-on function within our company to allow us to grow and focus on our core jobs. Without their help there is no doubt we wouldn’t have raised the finances we did, we wouldn’t have grown in the way we have and we wouldn’t have as much of a handle on our financial position. If you have the ambition of growing a stable and financially sound company then they should be your partner.”
This client (a limited company) imports and exports its products worldwide in a competitive online retail market, operating via sales platforms such as Shopify and Ebay, whilst monitoring and managing stock using the Veeqo platform and bring this altogether on Quickbooks.
We took on this client when they had fallen behind with their bookkeeping, VAT, payroll, statutory accounts and corporation tax returns for a two-year period.
Our early focus was to put the client’s books in order and ensure their statutory filing obligations with HMRC were met, and further penalties avoided.
We then advised the client with the selection and successful implementation of a new stock system to improve efficiencies.
Prior to our involvement, the client had insufficient management information to properly evaluate its profitability and manage its cashflow, putting increased pressure on its overall company operations.
We advised the client of profitability on a monthly basis, by producing monthly management accounts and pro-actively analysing the results to help their understanding of profitability going forward.
Our work resulted in better management information and in turn better decision making and improved cashflow management.
With this understanding we could reliably forecast future profits and cash flow, when applying for two rounds of funding and an equity raise, with the total funds raised in the region of £500k. The funding was required to meet the growth strategy of the company, which was to sell to international markets.
To obtain the funding we had to present profit, balance sheet and cash flow forecasts to the lender. These documents were scrutinised by the lender and we assisted in dealing with their queries, which eventually led to the funding being obtained to help the company grow.
As part of the funding arrangement, it was necessary for the client to provide timely monthly financial reporting to the lender, along with analysis of company performance. We completed this work every month over the five-year term of the loan.
We could undertake this work in a timely manner as we operate and maintain all aspects of the client’s financial operations, such as bookkeeping, VAT, payroll, right up to annual company accounts and annual tax returns for both the company and its directors.
With the loan funding secured, we then helped the client secure further funding via an equity raise from third parties. We helped our client promote this equity raise by promoting the tax saving benefits of the Enterprise Investment Scheme (EIS) for individual investors in small companies. It was also necessary for us to obtain clearance from HMRC on the client’s behalf, that the EIS scheme was applicable to this investment.
To this day, with the loans and investments, the company goes from strength to strength and we are proud to provide all of the financial services and assistance they require.