COMPLETE ACCOUNTS DEPARTMENT Case Studies

This company, based in Romsey, specialises in selling a specific product on the Internet. When this client first approached Wbasl last year their turnover was below the Vat threshold. This was quickly surpassed – with sales reaching £250K per month - in the month of November their sales exceeded £750K

Wbasl provides, and has provided, expertise for this client in many areas these include:

Migration from self employment to a Limited company. Company Formation – Vat registration – Liaison with Inland Revenue. Applying for a Vat ruling over children’s’ sizing on their goods and advising on the Vat implications for the company. Affecting a vat refund to the company of £6K for vat charged by Google - based in Southern Ireland.  Strategic business advice – Book keeping services – Payroll services and employment advice. Preparation of management accounts - year end accounts – Budgets & Forecasts and general financial expertise essential to support this fast growing business.

 

 

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This client, based at Chandlers Ford, has three separate companies. A paper wholesaling company for paper mills, a company acting as an agency for paper sales throughout Europe - and a holding company.

For nine years we have acted as the complete accounts department for these companies.

We deal with all day to day inputting and processing of the accounts, we manage the monthly payroll, produce monthly management accounts, and undertake the production of their statutory accounts and to provide the companies with an ‘internal’ audit thus reducing the cost of their accounting and audit fees very significantly.

Three years ago we expanded our services for this client to include the full administration of stocks held by the mills, processing and detailing data from France and Germany, on a weekly basis. We also undertake the credit control function on behalf of their French and German companies.

 

 

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This organisation, based in Southampton, is a registered charity providing support to the families of people associated with the maritime sector.

Their general secretary approached WBASL in 2005 when their accountant was retiring. The accountant had been employed for a minimum of 2 to 3 days per week - this had been quite a costly undertaking for them.

With in excess of £10m pounds worth of investments from which grants and support is allocated it was also imperative that the quarterly reports produced for the trustees were 100% accurate and timely.

WBASL has completely replaced their accountant. This means we provide all the day-today accounting support for them. We review and monitor and report on the investment portfolio, deal with all book-keeping issues, payroll etc and provide accurate and comprehensive reports to the Board of trustees on a quarterly basis.

 

 

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This company, based just outside Winchester, specialises in providing PR services to blue chip clients.

This company has been established for 20 years, however at the beginning of 2003 the founder Directors decided to immigrate to Australia and there was a management buyout. WBASL was approached by the new shareholders to provide an accounts department for the company. This we have done successfully adding professionalism and guidance for the new team.

An essential part of our role, in addition to the day-to-day accounting tasks has been to monitor cash flow closely whilst the previous shareholders receive their payments as agreed under the terms of the management buy out.

In addition to the original services described we have now extended our role to that of acting as their accountants producing the statutory accounts for both this company and the holding company.

 

 

 

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This group of 4 companies consists of 1 golf course and 3 driving ranges, one of which is the largest driving range in Europe. This company is now a plc.

These businesses are based in Leeds, London and Manchester. We commenced working with the first of these companies in 1999 and plan to add the 5th company in 2007 when the latest driving range, currently under construction in Glasgow, starts to trade. In 2006 the group sold one of their golf courses to a company in Southern Ireland. This company has continued to employ our services and are delighted with the service we provide for them.

Each week we receive all daily cash sheet and invoice transactions for each company which we process and reconcile on a daily basis. We process and reconcile all purchase ledger payments, reconcile all bank transactions and our work culminates each month in producing very detailed management accounts, covering all activities, season ticket sales, golf lessons, bar and food sales, retail sales, grounds maintenance etc.   We complete both weekly and monthly payrolls for each company.

At the half year and year-end we hand over detailed Audit files of fully reconciled balance sheet accounts to their external auditors.

 

 

 

 

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This limited company provides mechanical engineering services to the Construction Industry.

We undertake all daily accounting tasks for this company. We are the registered office for the company and provide the Company Secretarial function.

We manage their weekly, fortnightly and monthly payrolls and we ensure that this company is fully compliant with all CIS tax legislation - complete returns, CIS vouchers etc.

We produce monthly management accounts and the annual statutory accounts for this company. We complete corporation tax computations and generally advise the Directors on issues relating to their personal tax and compute their self assessment returns.

 

 

 

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This client, based at Woodmancott, is a well established family owned business offering a range of speciality gift food items to retailers both nationally and internationally. Their annual turnover is currently £3.25m.

The Directors first approached Wbasl in September 2005 and discussed the services we were able to offer. We then received a call in early January, their accountant had been suffering serious personal problems – to the extent that he had not returned to work after Christmas and could not be contacted by them.

Appreciating the serious nature of the situation we immediately sent in a small team to establish exactly what had been completed by him and what had not been – Vat returns were due to be completed monthly – annual accounts were due for filing – day to day issues had fallen behind.

We agreed terms for taking over the whole accounting function for the business and set about bringing the accounts and all filing matters completely up to date. We moved their accounts from an old bespoke in-house – accounting system to Sage Line 50 and established this at Leylands Park from where we took complete control of their accounts, payroll, commissions etc.

Included in the remit is also the completion of the annual statutory accounts for all 3 associated companies.

 

 

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This client has three long established retail outlets in Winchester, Newbury and Ringwood and is a sports goods retailer.

We were firstly contacted in 2004 and appointed to provide accounting support to the company whilst structural changes took place within the business. Two Directors were retiring from the business, one of whom had always undertaken the book keeping role. This we undertook for the company and introduced more professional accounting systems and procedures to the company.

Our relationship grew and we firstly expanded our services to include year end accounts preparation. In 2005 our role developed further to include full financial control and management of the business – including cash flow management, crucial to a seasonal business.

 

 

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This company, based between Romsey and Salisbury, specialises in providing medical support solutions in remote parts of the world.

They undertake the complete process of setting up field hospitals. This includes supplying the doctors, nurses and the medical equipment for them. A recent  large project was in Darfur where they were responsible for looking after the medical needs of the peacekeeping forces deployed there. In contrast they supplied the medical support for the film crew of the latest Mission Impossible film, MI3.
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The Directors approached WBASL for help when their accountants were not delivering the service they required and yet they were being charged substantial fees.

WBASL has provided them with a complete accounts solution from processing and controlling all the day to day accounting processes and transactions (in dollars, euros sterling and rand) to completing statutory accounts, corporation tax computations and attending to issues related to personal tax.

This company is expanding quickly and is reassured in the knowledge that we are able to grow our support to them, as their business requires.

 

 

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This client, based at Sarisbury Green, Weymouth and Poole, consists of 4 associated companies. Their turnover is currently £4.0m

They are the sole agent for the sale of a particular brand of luxury motor boats for the South of England. In addition they have a yacht brokerage and sell periphery equipment to the yachting industry.

Aware that the overheads incurred on accounting staff were extremely high and the management accounts production was both inaccurate and very slow the Managing Director came to WBASL to talk through possible solutions to this.

The result was that in early 2005 WBASL  replaced their entire accounts department. We moved their accounts from an old version of Pegasus to Sage and set up a new job costing module to assist in the monitoring of the profitability of sales.

We appointed one of our senior team ( a fully qualified chartered accountant ) to manage this client and she works with a team of experienced Wbasl staff.

We monitor and forecast cash-flow on a weekly basis, we are on-line to their bank. We ensure that monies are available for the purchase of boats, sometimes in excess of £150,000 each. We control the purchase and sales ledgers.
Compute the vat, corporation tax etc.and generally advise on all accounting issues for the company.

We produce an accurate and detailed management accounting package on a monthly basis and undertake the year end accounting process for this company.

We are their payroll department and calculate and monitor sales commissions on a monthly and quarterly basis.

This business is rapidly expanding with offices now in Poole and Weymouth - as they have expanded so we have had the skills, expertise and resource to add to our service. Further substantial savings were also made when the company incorporated the production of the annual accounts – for all companies - within our remit.

 

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This company, based in Andover, was formed in 2006. Originally a husband and wife team – they now employ 4 members of staff - and are growing quickly. They provide both domestic and commercial cleaning services.

Due to their success they are genuinely “rushed off their feet”. Wbasl has helped them by taking on all the day to day accounting and payroll administration for them. We have registered them for vat purposes. In addition we are advising them regarding the structure of the company, remuneration packages, asset purchase and general business strategies.

We will also complete their year end accounts and tax computations.

 

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This client owns a florists business. They have been our clients for 12 years.

Each week they fax over all the details for their staff payroll which we run and deal with all payroll matters on their behalf including the payroll end of year and submission to the Inland Revenue on-line.

At the end of each year we take all the records for the business and compute the annual vat return for the business. We also complete the year end accounts and self assessment returns and advise the owner generally on business and personal tax matters.

 

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