Case Studies

Put yourself in our clients shoes and find out what it’s like to work with Northants Accounting…

 

Case Study: Kingsley Roofing Services

 

Kingsley Roofing Services offer flat felt roofs, roof repairs and rubber roof systems.

Paul initially met Nishi at a local networking event and liked his philosophy; he seemed different to other Accountants. Paul had already been through several different Accountants because nobody seemed to understand what he wanted to do; he could tell from just meeting Nishi that he was offering business services and all-round advice; not just accountancy.

Having signed up to the Accountancy service from Northants Accounting it was time for Paul to get to understand his new software, Xero. Paul is the first to admit that he struggled with this initially, but Arial stepped in and they had numerous meetings to get Paul up to speed and to help him get his head around it all. Later on, Paul’s wife left her job and Northants Accounting stepped in again to also train her, with no additional or hidden charges for the extra time spent; it’s all been part of the service.

On a day-to-day basis though, Paul constantly worried about his bank balance; what was coming in and what was going out, what was owed to who and by which customers. As a result, Nishi suggested that he sign up to Northants Accounting monthly cashflow planning service and the use of Futrli (a fantastic piece of cashflow management software). Paul now feels more in control and is finding the service very beneficial.

As a business, they are far more aware of where they are financially, how much they are earning and what to budget for the dreaded Taxman. Now he doesn’t worry about what is happening at the bank all day every day leaving him free to concentrate on and finish his work.

These days Paul is preparing for his tax bill in advance instead of running around at the last minute. Northants Accounting tell him what’s coming and even help Paul to understand what he can pay himself and how much he needs to put away on a monthly basis.

Life is much less stressful than with previous Accountants as everything is planned in advance and Nishi is always just at the end of the phone; or one of the team are. Paul had found with previous Accountants that it felt like they didn’t have time for him, like he was interrupting something more important and often he didn’t even get a response to some of his simpler questions. That has all changed now though, he doesn’t feel like that with Northants Accounting. The whole team are just as helpful as Nishi and often go out of their way to help. If they see something of importance or worrying, they just get in touch with Paul, it’s clear to him that Northants Accounting want to stop problems before they happen.

The business is definitely growing, Paul is also more aware of what is going in and out and importantly what needs to be done to manage the business. It’s turning more into a business instead of something that is just paying him a little bit money every so often. He describes it as being in control, and that he is now running the business rather than just being dragged along for the ride.

When asked what he’d say to someone considering using Northants Accounting Paul said “If you want real support to actually grow your business and see better profits then just use them, it’s a no brainer; Nishi knows his stuff inside out”.

Paul Bone

Director, Kingsley Roofing Services

 

Case Study: Media Identity Ltd

 

Media Identity is a small, boutique branding, design and marketing agency.

As a small business owner, Tim was always worried about the expense of using an Accountant and had worked through a number of friends, family and ‘cheap’ bookkeepers to try and keep on top of his business accounts. As a sole trader Tim was happy, no monthly accountancy fees, no annual accounts to file with company’s house, just a small bill each year from a qualified accountant to submit his tax return.

Having said that, keeping on top of the accounts each month was a problem, especially when he hit the VAT threshold. For years, the bookkeeping had involved many meetings (often quarterly at the last moment before the VAT return was due) to try and figure out what was going on, what belonged where, how to reconcile the bank and work out what VAT they owed HMRC.

The company was not managing cash flow effectively, in fact, Tim freely admits that the business was running him, not the other way around. HMRC were applying pressure over tax bills that were overdue for submission and late filing charges were building up at an alarming rate.

Then Tim was introduced to Northants Accounting with a set of accounts for the previous three and a half years in a heck of a state. Tim worked with the Northants Accounting Bookkeeper to migrate his Accounting software to Xero on the advice of Nishi.

From this point onwards, all new transactions were filed in Xero in the correct way and Tim worked with the Bookkeeper to sort out the previous accounting records. This took time to achieve but is now completely up to date, the books are managed and kept on top of, the accounts are up to date within a week or so of any given day meaning it’s very simple to work out who owes what, where and when.

Media Identity then became incorporated to take better advantage of tax allowances and the company continues to grow. As well as Bookkeeping and Accountancy services, they now take advantage of Northants Accounting monthly cashflow and management accounts support meeting. An hour, once a month with Nishi Patel running through the previous month’s figures, identifying possible issues and planning the months and years ahead.

Not only does Tim now feel far more in control of the business finances, Northants Accounting also picked up on a few things along the way which is helping the business to grow. For example, they realised that Tim was not costing his outgoing projects efficiently. Nishi suggested a new costing model which subsequently has resulted in Media Identity converting more enquiries into sales.

Having Xero up-to-date means that automated late payment emails are sent out and once a month the Bookkeeper sends out statements, these two actions have resulted in bills being paid more quickly.

Here is what Tim has to say about the service:
“Northants Accounting have been instrumental in helping me to take control of my business finances. Before Northants Accounting I felt like the business was running me and that cashflow was literally out of control. Nishi has worked tirelessly in helping me take control and often teaching me techniques that have helped enormously. I’d have no hesitation in recommending Nishi and the team at Northants Accounting to anyone in a similar situation”.

Tim Brown

Managing Director, Media Identity Ltd

 

Case Study: Life Force Fitness

 

Life Force Fitness is a personal training service and studio specialising in weight loss in Northampton.

Jon had spent a couple of decades in the corporate world and following some pretty important wakeup calls relating to his own health and fitness retrained in his spare time as a Personal Trainer. Taking the plunge to leave the finance industry and start a new business, Jon needed an accountant to help advise on a range of areas.

Finding Northants Accounting on Google, Jon noticed their nearby location and reached out to get the help he needed to incorporate and create the right company structure. Jon was concerned about the pain of incorporating the business, he also knew he’d hate anything to do with tax; all previous encounters with tax provoked the ‘red mist’.

He was looking for advice on whether the company should be a sole trader, a limited company or something different, he didn’t want to have to do the reading and research himself and then worry that he’d made the wrong decision. Northants Accounting took care of all of this and took all the stress away. The advice given was sound but also flexible as things moved forward and new challenges presented themselves; everything was dealt with without complication or fuss.

Jon has always been a big fan of spreadsheets, but the team at Northants Accounting have worked hard to convince him of the long-term benefits of using accounting software and have found ways to tailor it to his style of working. What Jon does like is having access to business information and that’s something that’s easier to get to now he’s effectively using the software.

The most useful thing Nishi has done so far was getting Jon a large tax rebate. He was previously in the 45% tax bracket and Northants Accounting were able to use that to offset against Jon’s first year losses to then go on and claim a decent rebate. To achieve this, the business started as a sole trader, took advantage of the tax rebate and now that’s been sorted out, they are back to a limited company. Without Nishi and the team at Northants Accounting, they would definitely have missed out on the rebate.

Life Force Fitness’ payroll and tax returns are all also taken care of by Northants Accounting and the level of service means that it’s all communicated effectively and up to date.

Jon’s advice to someone considering using Northants Accounting? He suggests that if you’re a financial novice and don’t know where to start, they will look after you in the sense that they give you the tools that you need but also make sure you are as tax efficient as possible. So, if you’re starting out for the first time, or if you’re not getting that from your current supplier then these guys are definitely worth looking at as providers.

Jon Bellis

Director, Life Force Fitness Ltd

 

Case Study: CSVV Ltd

 

CSVV Ltd is involved in dental practice activities and is located in Northampton.

Vik and his wife had been running CSVV as a sole trader for 13 years before they met Nishi while they were socialising with friends in a local pub. At this point, all of their bookkeeping was done by Vik himself and they had been looking for a new, local Accountant for around 12 months.

Vik freely admits that the business previously had little structure and in fact needed streamlining somewhat; tax planning had only vaguely been on his radar and actually he needed some help.

He describes Nishi and the Northants Accounting team as being different. For a start Nishi is so dynamic, so approachable and above all a nice chap and the rest of the team follow suit. This is where they are different from everyone else. His ‘company’ knowledge is amazing compared to any other Accountant Vik has come across and he is always just a phone call away.

One of the first things that Northants Accounting did was to introduce the Xero software, since then, Vik and his wife have had a much better idea of where their income is coming from, what is profitable and where they need to aim to go. Previously, this was all just bits of paper in a shoebox that they would spend hours worrying over.

It wasn’t just the software though, Vik had one-to-one tutelage, not just once but as often as he required it, ensuring he and his wife learned how to use it properly. Northants Accounting literally led them by the hand until they were using it efficiently, which in turn has made life easier for Northants Accounting too.

The company, and Vik were also paying more tax than they needed to and the Northants Accounting team worked WITH Vik to help him plan and streamline his business to the point where they have essentially cut their tax bill in half. Nishi, Sunil and the back-office team have been amazing in making that happen.

They now have a structured platform for Vik to practice as a dentist and being so much more tax efficient, they have gone on to setup two further businesses. These are both structured and managed in a similar way to the primary business and Vik insists that they would never have gone on to do this without the help, advice and support of the Northants Accounting team.

They have achieved more in the last 18 months than Vik had in the previous 14 years; growth in this time has been better than in the previous decade. Nishi is part of the puzzle, and very big part at that. Now CSVV Ltd has a basis to build a business on and Vik firmly believes that this would not have been possible without Nishi and the team at Northants Accounting.

If you are considering changing Accountants, Vik’s advice would be to look at how long you’ve been using your existing firm for and how many interactions you have with them in a given year. Consider how in tune with your Accountant you are and if they are absent for 11  months out of every 12, if they are just waiting for you to contact them rather than being there for you as a team when you need them, if they are just doing your bookkeeping and not helping you to grow, then Northants Accounting and their entire offering should be your next step. Don’t just stay with what you know.

Vikas Vohra

Director, CSVV Ltd

 

Case Study: Pixooma Ltd

 

Pixooma are a creative agency in Northamptonshire with over 20 years experience in graphic design and print.

Having met Nishi through various networking events, Mark wasn’t unhappy with his previous accountancy firm but didn’t see them often. On a number of occasions, Mark had seen Nishi demonstrate his expertise and he was always asking pertinent and proactive questions. At one particular event, Nishi was presenting an educational slot and this ‘sealed the deal’ with Nishi demonstrating fully that he knew what he was talking about, Mark was also convinced that as a smaller business himself Nishi would offer a more personal relationship and this has certainly proven to be the case.

Upon leaving his previous supplier, an extra bill and other costs came out of the blue, which previously hadn’t been made clear and that’s another positive in working with Northants Accounting. Mark has found no grey areas, no hidden costs and has no concerns that he is being charged for every phone call. It is always clear that ‘this is covered in your monthly fee’, and if there were a chance of an additional cost Mark is certain that he’d know about it well in advance.

The positive changes that Mark has seen is that as much as accountancy and dealing with HMRC feels like a black art to him, Nishi explains it all in layman’s terms, and now Mark feels like he just has someone on his side. Nishi is alwaysavailable and if Mark has a question, Nishi can answer it. With his previous supplier (a much larger accountancy practice) he had to deal with different people for different things, now he has one point of contact for everything, and the team at Northants Accounting come to him rather than the other way round. It’s also clear to Mark that Nishi and the team have a desire for constant improvement and are always looking for ways to help you manage and improve your own business.

The company (at the time of writing this case study) are on the flat rate VAT scheme, following discussions though, it became clear that Mark was recording his bills incorrectly and not separating out the VAT element in Xero; in turn he wasn’t getting a true reflection to be able to decide if the Flat Rate scheme was the right way to manage VAT. The results of this remain to be seen, but what Mark found useful was the fact that Northants Accounting picked up on the error and have been helping to decide the correct way forward.

Marks advice to anyone considering using Northants Accounting would be that if your current provider isn’t holding your hand, giving you ongoing (and excellent) advice or if you feel like you are being charged for every little thing then he’d wholeheartedly suggest talking to Nishi and the team at Northants Accounting. Nishi is a proactive, enthusiastic person who wants to improve, he’s part of your team to help you deal effectively with HMRC and makes sure you don’t get railroaded. They also make sure HMRC are doing everything properly and ‘calling them’ if they aren’t.

He goes on to say that he uses Northants Accounting because of a combination of Nishi’s youth, enthusiasm and desire to continually drive towards perfection, his attention to detail and his emotional connection with your business. Yes, Nishi is a businessman and very focussed on growing his business but he is definitely there for you and you get the feeling you are in safe hands.

Mark Coster

Director, Pixooma Ltd

 

Case Study: Anna Wood Bridal Ltd

 

Anna Wood Bridal is a bridal boutique based in Long Buckby, Northants.

Anna’s husband, Aaron runs a local IP Law firm and had been recommended to Northants Accounting as they were looking for a new accountant. Having transferred over to Northants Accounting, it soon came to light that Anna was looking to open her boutique and Nishi was the man to help set everything up.

The couples previous Accountant had offered very little support when it came to tax planning, and whatever advice there was for this (a one-off meeting) was always charged for separately. They were also concerned over managing cashflow, particularly as they were looking to launch a second, brand new business.

To Nishi the idea of clients paying separately for tax planning was an alien concept as tax efficiency and planning are naturally built into everything they do, there’s no way that it could be separated out into a different service.

Nishi and the team at Northants Accounting helped to plan the launch of the new business, setting up Anna Wood Bridal as a limited company and helping them understand howthey were going to fund everything effectively.

The monthly cashflow planning service offered by Northants Accounting is the backbone of their financial strategy and gives Anna Wood bridal the opportunity to plan much further ahead and come up with effective ways to fund their growth. There’s a certain relief you feel by understanding what your finances will look like three years down the line and the value of this can’t be underestimated.

Nishi also explained how to transfer money between the two companies, allowing the them to prop each other up when cashflow was likely to be an issue for either one or the other. This wasn’t an easy task as we had to move and track money between companies, while also making sure there wasn’t a large tax bill building up.

Anna had already been using Xero accounting software for several years and knew what she was doing with it. Based on that knowledge the support Northants Accounting provided focussed on tidying things up and identifying the type of management information Anna and Aaron were looking for.

As a result, both businesses are growing steadily, and both Anna and Aaron enjoy the peace of mind that comes with having the opportunity to be proactive with their finances by forecasting both the good and bad times in advance.

Here is what Anna had to say about Northants Accounting:
“Nishi is not just part of our team, he’s an integral part. If there is anyone out there considering using Northants Accounting to help their business, my advice would be to get on board and take allthe services on offer, they pay for themselves ten-fold and have been so valuable in helping us build our future.

Anna Wood

Director, Anna Wood Bridal Ltd

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