From Small Business Accounts to takeover targets
Let’s be honest – nobody likes losing a client. Especially one that has been with you for over 10 years. But sometimes it just can’t be helped and they move on for all the right reasons. This was a case in point just recently- an engineering and fabrication business based not far from Falkirk.
The Budgets and Business Plans just got bigger and bigger
As Chartered Accountants we had been involved with this firm from the very beginning. The owner was a fantastic engineer but recognised that to succeed he needed to have the accountancy services of small business accountants. That is why he approached our local office which specialises in small company accounts. At the time, it was just himself and 2 employees but he had great ambitions to grow! Initially, he needed guidance in setting up the books and records, preparing budgets and business plans and producing monthly management accounts. This was quickly followed by an on-going remit to advise on all things financial and tax related including dealing with VAT, PAYE, and Corporation tax, recruiting finance staff and liaising with the Company’s banks. Within five years the company had grown from its humble beginnings to over 50 employees and within a further 5 years the payroll numbers had doubled again. Throughout this time our firm was closely involved in providing a cost efficient accounts service. The owner’s attitude to his accounts function was that he wanted it to be cost effective but highly skilled and this could be best achieved through an in-house book keeper and an experienced “hands on” external firm of Chartered Accountants such as us.
A job well done – if we say so ourselves
Inevitably, the company reached a point where it was noticed and appreciated within the wider market place and then snapped up by an American conglomerate. And so, after helping out with the due diligence and ensuring a smooth takeover, our role came to an end. Obviously, we were sad to lose such a client but at the same time we were immensely proud to have been part of a very successful period in the company’s history.
Needless to say, we are on the lookout for that next ambitious owner!!
For friendly professional advice from a Chartered Accountant in the Stirling or Falkirk area contact D & A Pearston.
