The purpose of the project/service:
- Acquire funding for growth of the business
- Reduce tax bills for business and owners to increase the cash in their bank
- Support the owners throughout start up to growth (and ultimately exit)
The approach and results:
We assisted the client in raising funding, putting cash-flow controls in place and were an integral part of the budgeting and management reporting process which helped to drive significant performance improvements.
We now operate as their Virtual Finance Director and attend quarterly board meetings at which we discuss the firms overall strategy and opportunities for growth, funding and saving tax. As a result of our advice and professional services the client has enjoyed the following benefits:
- We have obtained £60,000 of grant funding and £125,000 of loan funding to support capital expenditure purchase and growth in operations.
- We identified Research and Development tax reliefs and now undertake an annual R & D Claim project for them. Over the last 3 years we have saved the client over £100K in corporation tax from this area.
- We also advised the client during a recent tax enquiry and were able to save them in excess of £50,000 in tax and penalties.
Just five years after start-up, the company now enjoys a Turnover of £6.5m and in the last financial year made a net profit before tax of £863,000.
In total over 5 years we have been directly responsible for increasing the clients net worth by over £300,000 in addition to the support and advice which has enabled them to grow the business, and they view us as a valuable member of their team.
Client Feedback and Testimonial:
“Excellent service all round. 10 out of 10”.