Transforming an Events Management Company’s Accounts
We Overhauled This Client’s Poorly Administered Accounts, and Also Advised on a Valuable Shareholdings Sale.
Who Was the Client?
An events management and publishing company.
What Was the Challenge?
The client approached us because of dissatisfaction with her previous accountant. The owner had very little financial visibility on her business; although she knew her company was profitable, she could only see this in her annual statutory accounts. She asked us to bring her accounts up to date, and provide real-time information to help her make strategic decisions more quickly and easily.
In addition, she also asked us to advise her on the disposal of shareholdings that she had in another company.
How Did We Help?
We’re very experienced in supporting businesses to take control of their finances, so we helped the client bring her accounts up to date efficiently. We implemented the industry-leading accounting software Xero into the business, and used it to run regular reporting and monthly forecasts.
What Was the Result?
Providing the client with real-time financial information about her business enabled her to make strategic decisions quickly and confidently. Rolling forecasts mean she can now undertake scenario planning, while regular monthly reports help her to make confident strategic decisions based on accurate financial figures. For the first time she felt informed and in control of her finances.
Due to our strong experience in mergers and acquisitions, we were able to advise and negotiate a shareholdings sale close to £500,000 – almost five times higher than the client expected. Most accounting firms won’t advise on this area due to a lack of real-life experience.
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