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Case Studies

CASE STUDY - A CHILDREN’S DAY NURSERY


CLIENT ISSUES

The new, owners acquired a day nursery as their first business venture. Lack of due diligence during the acquisition had resulted in the financials not living up to expectations with the associated cashflow problems. This alerted the bank to intervene, requesting management information which the new owners and their then accountants had difficulty in providing. The bank recommended the client to ABDS.

ABDS APPROACH

ABDS investigated and found the owners had not received adequate accounting software training and were struggling with the accounting software and finding time to undertake the bookkeeping. Also there was spare capacity in the nursery so turnover needed improving.

Rather than appoint a bookkeeper the owners opted for the ABDS Outsourced Finance Department services which deals with all aspects of bookkeeping, payroll, payment scheduling, providing monthly management accounts, monitoring cashflow and liaising with the bank.

ABDS offered strategic advice concerning marketing for increasing sales

VALUE DELIVERED.

ABDS taking over the accounting bookkeeping and financial reporting freed up the client to manage and market the business.

ABDS scheduling of payments managed the cashflow problems taking from the owners responsibility of dealing with the creditors providing a managed approach of consistency and improved creditor confidence.

ABDS provision of financial reporting put the banking relationship back on a better footing and enabled an overdraft facility to ease the cashflow position. It also provided the bank to communicate directly with us if they needed to and improved their confident in the information provided.

ABDS provided advice on how to market the business and win more sales which demonstrated that increasing sales income whilst managing their cost changed the business from loss to profit making.

5 years on we are still providing these services even though cashflow concerns are now past however the owners think their time is better spent on running the business and they benefit from the support of a team of accountants not just a bookkeeper

CASE STUDY - CREATIVE OUTDOOR IRONWARE DESIGNER/MANUFACTURER


CLIENT ISSUE

The client came to us because he was having trouble obtaining funding from the bank during a period of downturn. He could not keep track of his cashflow as his bookkeeper was using an old manual ledger system and could not provide him with adequate information in a format suitable for the bank.

Consequently he had troubles with cash flow, tax, VAT, and had to make staff redundant and the bank refused to lend. His bookkeeper has also been filing his tax return but not preparing proper accounts

ABDS APPROACH

ABDS used our experience in business development and business recovery to  make a series of recommendations aimed at stability and recovery

VALUE DELIVERED

The client had the worry of the financial management removed almost instantly which provided a breathing space as ABDS dealt with credit calls and bank management. ABDS got the business finances better organized which enabled us to provide the bank with comfort.

Once ABDS had the accounting information we could look at a strategy for his business assessing competition and products and concentrating the client’s efforts more strategically rather than ad hoc. From this ABDS assisted the client to develop a comprehensive marketing strategy with specific marketing initiatives which resulted in more sales. This enabled ABDS to ask the bank for finance which was agreed as they perceived that the outlook was brighter.

The business turned from loss to profit within one year and is still growing.