Case Studies
Corporate Finance and Funding
Development Refinancing and Business Plan Preparation
We were approached by a private equity fund managed from London to negotiate and arrange the refinancing of its £22m of speculative development facilities and run its finance department on an outsourced basis. After detailed discussions with the banks and advising the client through a full remodeling, re forecasting and bank due diligence process lasting 5 months we successfully refinanced the developments and put in place the reporting and forecasting systems the Bank required. The process involved a full 3 year forecast modeled to the banks and the clients requirement, detailed review and due diligence on the client and the forecast by a major accounting practice, overseeing and advising on the legal process and documentation (keeping the clients legal fees re its banking advice to less than £3k) and liaising and instructing various advisors. All of this undertaken at the same time as a restructuring of the business itself.
Working Capital Refinancing
Early 2008 we undertook the refinancing of £4.8m of combined property and working capital facilities involving a conglomerate of joint ventures and a partnership. This involved producing and submitting a significant amount of information, analysis and forecast to the bank in easy to understand formats to make the decision to support the business easier and more compeling. The negotiations and their implementation were successful and enabled the business to continue to operate.
Management Buy Outs
Our team has been involved in a number of management buy outs. They have been involved both as advisors and members of the MBO team from conception right through the process involving information provision, forecasting, due diligence and presentation to potential equity providers. Our experience with the legal process also enables us to oversee it to ensure that it runs as smoothly and cost efficiently as possible.
Formation of Joint Ventures
We have advised and negotiated the formation of many joint ventures requiring shareholder funding of £0.2m to £10m. This has included all of the elements from agreeing the heads of terms through to negotiation and agreement of the shareholders, management and other agreements required to form a joint venture. For many of these joint ventures we were subsequently appointed to run the outsourced accounting functions.
Business Recovery
We are regularly approached by businesses which have cash flow and funding issues. Using our knowledge gained from working within business and practice at many levels we are able to advise them on a variety of matters covering the whole of their business. This involves cash flow management, tax position, staffing restructuring and cost review. We first focus on getting an understanding of the challenges facing the business and the resources it has available to meet those challenges. Once these are fully understood we advise the management of various options and facilitate discussions until consensus of the best way forward is achieved. This approach has been successful in turning around numerous businesses from loss making to profitability.
Accounting Services
Fully Outsourced Accounting Function
We were approached by a business which was taking control of a joint venture. The company did have its own accounts department but did not have the staffing to manage the function for the new joint venture and was reluctant to take on the staff to do so. Part of the reluctance was due to the management time involved in appointment and training staff (and the associated employment regulations) and part was due to the varied skill set the administration of the joint venture would require. After reviewing the requirements and discussing them with the owners we agreed all of their requirements and were able to provide all of the accounting and finance services they required with the range of skills to deal with other matters as they arise. This not only benefited the joint venture’s operations, it also enabled them to ensure that they focused their staff on their core business. The appointment includes reporting at monthly board meetings, detailed monthly cash flow reporting and comparison to budgets, monthly bank reporting and liaison with banks regarding facilities, ad hoc reporting to banks as requested, quarterly management accounts, annual accounts and audit and all accounts processing and statutory compliance.
Partially Outsourced Accounting Functions and Book Keeping
We became involved in discussion with a medical consultant who was getting overwhelmed by the administration of his consultancy and finding it more and more difficult to focus his time on providing his patients with the care they required. Part of the challenge was that some of his administration was undertaken abroad. We met with the client to obtain a detailed understanding of his requirements and then prepared a proposal which would give him the benefit he desired, it also identified areas where he was not claiming the full tax deductions he was entitled to hence increasing his income. As a result of our wide variety of skills and services, combined with a flexibility of approach, we were able to implement a partially outsourced accounting system which met his exact needs.
Another business was looking to cut costs and approached us to provide the accounting services on an outsourced basis. After ascertaining their needs we worked with the client to provide a combination of outsourced services and the training of their staff to undertake some of the accounting duties. This enabled the client to significantly reduce its costs whilst providing the services its business required. As a result of the information gained through the provision of the services we were also able to assist the client in obtaining a significant tax rebate.
Budgets, Forecasts and Cash Flows
We have prepared and provided bespoke budgets, forecasts and cash flows to many clients for a variety of purposes from internal business management to investor reporting and bank requirements. Each time we have been appointed we have provided what the business requires on an individual basis tailored to its own systems and information.
Limited Company and LLP Formations
We were approached by a company in relation to the size of a bill it had received for formation of a company. After discussing the status of the business and owners and the clients personal taxation position we ascertained that the incorrect vehicle had been set up for his personal circumstances. We advised the client on the most appropriate vehicle and its set up and he has since negotiated a significant reduction on his previous advisors bill and transferred his business to us.
To contact us:
Gilbert Finance & Accounting LLP
Amarna
Hillam Common Lane
Hillam
Yorkshire
LS25 5HU
Telephone Numbers & Email Addresses
Telephone: 0800 496 0195
Fax: 01977 680 893
Jay Gilbert |
07771 815066 |
|
Martin Stead |
07734 774240 |
|
Chris Hutton |
07827 927619 |
|
Scott Gilbert |
07771 974137 |
Case Studies
Corporate Finance and Funding
Development Refinancing and Business Plan Preparation, Budgets and Forecasts
We were approached by a private equity fund managed from London to negotiate and arrange the refinancing of its £22m of speculative development facilities and run its finance department on an outsourced basis. After detailed discussions with the banks and advising the client through a full remodeling, re forecasting and bank due diligence process lasting 5 months we successfully refinanced the developments and put in place the reporting and forecasting systems the Bank required. The process involved a full 3 year forecast modeled to the banks and the clients requirement, detailed review and due diligence on the client and the forecast by a major accounting practice, overseeing and advising on the legal process and documentation (keeping the clients legal fees re its banking advice to less than £3k) and liaising and instructing various advisors. All of this undertaken at the same time as a restructuring of the business itself.
Working Capital Refinancing
Early 2008 we undertook the refinancing of £4.8m of combined property and working capital facilities involving a conglomerate of joint ventures and a partnership. This involved producing and submitting a significant amount of information, analysis and forecast to the bank in easy to understand formats to make the decision to support the business easier and more compeling. The negotiations and their implementation were successful and enabled the business to continue to operate.
Management Buy Outs
Our team has been involved in a number of management buy outs. They have been involved both as advisors and members of the MBO team from conception right through the process involving information provision, forecasting, due diligence and presentation to potential equity providers. Our experience with the legal process also enables us to oversee it to ensure that it runs as smoothly and cost efficiently as possible.
Formation of Joint Ventures
We have advised and negotiated the formation of many joint ventures requiring shareholder funding of £0.2m to £10m. This has included all of the elements from agreeing the heads of terms through to negotiation and agreement of the shareholders, management and other agreements required to form a joint venture. For many of these joint ventures we were subsequently appointed to run the outsourced accounting functions.
Business Recovery
We are regularly approached by businesses which have cash flow and funding issues. Using our knowledge gained from working within business and practice at many levels we are able to advise them on a variety of matters covering the whole of their business. This involves cash flow management, tax position, staffing restructuring and cost review. We first focus on getting an understanding of the challenges facing the business and the resources it has available to meet those challenges. Once these are fully understood we advise the management of various options and facilitate discussions until consensus of the best way forward is achieved. This approach has been successful in turning around numerous businesses from loss making to profitability.
Accounting Services
Fully Outsourced Accounting Function
We were approached by a business which was taking control of a joint venture. The company did have its own accounts department but did not have the staffing to manage the function for the new joint venture and was reluctant to take on the staff to do so. Part of the reluctance was due to the management time involved in appointment and training staff (and the associated employment regulations) and part was due to the varied skill set the administration of the joint venture would require. After reviewing the requirements and discussing them with the owners we agreed all of their requirements and were able to provide all of the accounting and finance services they required with the range of skills to deal with other matters as they arise. This not only benefited the joint venture’s operations, it also enabled them to ensure that they focused their staff on their core business. The appointment includes reporting at monthly board meetings, detailed monthly cash flow reporting and comparison to budgets, monthly bank reporting and liaison with banks regarding facilities, ad hoc reporting to banks as requested, quarterly management accounts, annual accounts and audit and all accounts processing and statutory compliance.
Partially Outsourced Accounting Functions and Book Keeping
We became involved in discussion with a medical consultant who was getting overwhelmed by the administration of his consultancy and finding it more and more difficult to focus his time on providing his patients with the care they required. Part of the challenge was that some of his administration was undertaken abroad. We met with the client to obtain a detailed understanding of his requirements and then prepared a proposal which would give him the benefit he desired, it also identified areas where he was not claiming the full tax deductions he was entitled to hence increasing his income. As a result of our wide variety of skills and services, combined with a flexibility of approach, we were able to implement a partially outsourced accounting system which met his exact needs.
Another business was looking to cut costs and approached us to provide the accounting services on an outsourced basis. After ascertaining their needs we worked with the client to provide a combination of outsourced services and the training of their staff to undertake some of the accounting duties. This enabled the client to significantly reduce its costs whilst providing the services its business required. As a result of the information gained through the provision of the services we were also able to assist the client in obtaining a significant tax rebate.
Budgets, Forecasts and Cash Flows
We have prepared and provided bespoke budgets, forecasts and cash flows to many clients for a variety of purposes from internal business management to investor reporting and bank requirements. Each time we have been appointed we have provided what the business requires on an individual basis tailored to its own systems and information.
Limited Company and LLP Formations
We were approached by a company in relation to the size of a bill it had received for formation of a company. After discussing the status of the business and owners and the clients personal taxation position we ascertained that the incorrect vehicle had been set up for his personal circumstances. We advised the client on the most appropriate vehicle and its set up and he has since negotiated a significant reduction on his previous advisors bill and transferred his business to us.
Testimonials
Here are some of the things our clients have said about the firm and the partners in it:
“It was so refreshing to deal with people who were helpful, positive, kept to their promises and met timetables. Your firm certainly knows how to keep a promise,”
“Thanks for all your hard work and efforts in persuading the Bank to refinance us.”
“One of the things I enjoyed about working with you was your availability, my calls were always quickly returned no matter what the day or time.”
“Thanks for all of your help and guidance in negotiating our facilities with our Banks and designing a reporting structure that meets their requirements and is simple to produce and operate.”
“We required a new services company to be formed with all the associated tax implication very quickly. Having consulted several other practices (with out success) on the best tax structure for our business, Gilbert Finance & Accounting LLP provided the most innovative proposal, providing a clear structure for what we were seeking to achieve, in a very short time frame. From this advice, GFA have now helped us form the company quickly with the most effective tax structure for our needs. We would highly recommend them.”
“Positive, pro active and trustworthy, what more can I say, thank you very much.”
“Thanks for providing me with the strategy I needed to resolve my financing problem. I was astonished that such a small change in my approach could result in such a positive response from my Bank.”
“Well done and my sincere thanks to you and your team.”
“I have been impressed by the quality of the work undertaken by you and your team and am more than happy to continue to refer clients to you.”
“Thanks for all your hard work and support in getting our business through some tough times and back on its feet.”
“Before I visited your offices I thought that there was nowhere for me to turn. After getting you involved I now have a business which is once again profitable and making money. I cannot thank you enough for your patience, assistance and advice in turning my business around.”
“Thanks you so much for your advice and assistance. It took a huge weight off my mind and enabled me to sleep at night again.”
“When we initially discussed our tax position with our advisors they were unable to come up with a strategy to obtain tax rebates. We were delighted when you attended the meetings with us and we were then able to implement a strategy that enabled us to get a sizeable rebate from the Revenue in a short space of time.”
“Please offer my appreciation to your team for the efforts they have put in to ensure that my tax returns were submitted on time in what must have been a very busy period in your office.”
“Many thanks for your help, I really appreciate it.”
