Cardiff Engraver & Internet Retailer
Our client is a well-respected name in the Welsh capital enjoying a good reputation in their field. While on the face of it business was good, the lack of service by their accountant had led to a series of unnecessary issues with both HMRC and Companies House.
The problems were borne from a lack of interest and attention to detail which meant their relationship with their long serving accountant had all but broken down.
Insight Accountancy has worked very hard – and very closely with the client – to make sure they are back on top of their financial situation reporting figures on time and managing their obligations efficiently.
We have supported them with their recent VAT inspection and are working closely with them to make sure everything is in order to help their business grow. We visit monthly, discuss options and share tactics as part and parcel of our service.
"The relationship with our previous accountant had gone stale. We weren't getting the service we needed to plan effectively for the future. It was a worry to us and we knew our business was suffering as a result. Insight Accountancy was much more than just a fresh pair of eyes. They took a real and genuine difference. We feel a lot more positive as a result."
Cardiff Childens Hairdresser, Play Centre & Retailer
Our client is a unique children's play destination offering everything from pamper parties and hair dressing to retail and baby massage.
It's a wonderful environment which is quite special in the market place. Still quite a new set up– only launched in 2013 – the business went from strength to strength very quickly. As a result, there were a variety of challenges being faced by the proprietor including the need to become VAT registered.
Our role as her accountants and business advisors was to plan for the pitfalls being VAT registered may bring, not lose customers and create a manageable pricing structure. Working 12 months ahead of ourselves, the planning went so smoothly that the transition to registration went without issue.
We are continuing to work hand-in-hand with the client helping her understand her business thoroughly and all the financial requirements for the future as well as a variety of other business issues from employment law and licensing to copyright and trading names.
"As a new business owner, I was inexperienced with the financial aspects of my business. Being able to trust my accountant to give me the best advice was absolutely vital in the early days so I could give the business the very best start. Straight away, I knew Insight Accountancy were the people for the job. It's been an exciting time and as a result of our combined efforts, we really are going from strength to strength."
Cardiff Motor Specialists
Our client had been in business for more than seven years. About three years in, he changed premises moving from Caerphilly to Cardiff and while the move was a positive one, he was becoming increasingly concerned about his financial situation. The worry was compounded by tax complications and personal financial issues.
Because we pride ourselves on doing more than number-crunching for clients, we took a real interest in the business and would take the opportunity to discuss company developments and improvements as often as we could.
Our input gave him a very valuable and knowledgeable second pair of eyes. The result was a re-assessment of his business which lead to a complete overhaul of the service offering which has meant a major improvement in his financial fortunes. While we are not here to take credit for how the client has turned his business around, we know we acted as a compass providing guidance, direction, observation and practical and financial advice throughout the process. He now causes a lot more problems for the competition – and both he and we are delighted with that!
"I needed a bit of a wake-up call to be honest and it came in the form of Insight Accountancy. I was plodding along but without any plans for growth and development. They have supported and advised on some major business decisions while managing the traditional role of accountants as well. I’m doing better now than I have in years.”
Aberdare Electrical Contracting company
Our client who are established suppliers and fitters in the electrical industry, while business was steady their challenge was maintaining their position in the market place while their competitors seemed to be offering considerably lower prices.
When they employed our services, the first thing we did was to look at her end of year reports so that we could provide the client with break even figures; an operating ratio and the number of days she needed to work to achieve a break even position.
We gave an in-depth report on the business’s recent financial history so she could see how things had changed and showed her how to lower costs depending on her current trading position which she now understood a lot better.
We reviewed the businesses use of the Sage accountancy package (there were significant discrepancies created by her previous accountants) and had the system upgraded to function efficiently.
In addition we supported the client on a variety of other business related issues including HR and debt recovery – all of which have added huge value to her financial future.
“It was very refreshing to take a real and in-depth look at the businesses financial position and prospects. We’ve been trading for many years and yet it had been some time since we were encouraged to focus on our place and position in the sector. Analysing and understanding our situation for real will have a very significant impact on the way we do business going forward.”
Get in Touch!
Send an enquiry and a member of our team will get back to you shortly