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When the company of long standing, manufacturing furniture, with a strong balance sheet, was sold to a private equity firm Armstrong Watson was instrumental in assisting the future purchase in formulating the financial models, cash flow analysis and pro forma profit and loss. The representatives of Armstrong Watson involved, produced such levels of high quality results and provided invaluable contribution such that the new owners have commissioned further assistance in the post transaction.
This has been an effective transaction made so by having people with the skills in understanding the business and the requirements of the customer. These skills have been evident from the beginning of the process and mention should be given to David Richmond, a partner in the business and Andrew Padgett, a member of the corporate team, who reports to David. Andrew has a good understanding of the requirements to produce financial models with integrity. His knowledge of financials is invaluable but coupled with his knowledge of manufacturing accounting produces quality results enabling more effective management decisions at a high level.
David Richmond has an excellent understanding of business finance reporting and this experience helps to direct others, enabling results within a short time. His knowledge and the ability to understand various situations provide a valuable contribution to any strategic direction particularly in the area of finance.
They are exceptional and a credit to Armstrong Watson a very professional outfit and without doubt their contribution has made the transaction exceedingly cost effective.
John Williams, Managing Director, Ness Furniture
We engaged Andy Poole and his specialist legal sector team at Armstrong Watson as our accountants in 2012, only the second firm of accountants we have used in our 18 year history. We found that their management of the handover of responsibilities from our previous accountants was very smooth and constructive.
In the first year, we have been very satisfied with the level of specialisation which they bring to our sector. Our previous accountants were a top 10 UK firm, but we do not feel that they were able to offer the same depth of advice. Andy’s knowledge of the legal market shines through in his pro-active advice and they have been very keen to help to improve our business.
They have already suggested and implemented a change in our business structure to better suit our commercial needs. This should result in very significant tax efficiencies, even though we have not noticed any real changes to the way we run our practice on a day to day basis. We get on with running our practice and they get on with supporting us.
We are very happy with our decision to appoint Armstrong Watson and we are sure that they will bring on-going benefits to our business going forward.
John Gaunt, Senior Partner, John Gaunt & Partners
My contact is with Hilary Farish. Her work regarding my income tax and the helpful and kindly way in which she has dealt with my queries and my tax affairs which were complicated this year because of the death of my husband, have been greatly appreciated.
Daryl Warwick acted as liquidator for one of the University’s subsidiaries which had ceased trading. Daryl provided a clear timeline and prompt and tailored advice along the way. It was particularly useful to have him attend board meetings as it gave the Directors clarity on the process that was being followed and confidence in what was being proposed.
Andrew Heron, Deputy Director of Finance, University of Cumbria
Andy's knowledge of the legal sector is phenomenal and his in-depth understanding of the issues being faced by lawyers at this time of unprecedented change is undoubtedly of huge help to his clients. He can identify ways of structuring a legal business so as to operate within the confines of a highly regulated environment but whilst making it more effective and more profitable. He is also personable and presents informative and engaging training sessions - which are not always qualities that can be attributed to accountants!
Natalie Saunders, Managing Director, Pharos Legal
Having worked with David on a number of capital allowance cases over the last year, I would like to say that his technical knowledge of the tax rules with regards to capital allowance claims is second to none. David's attention to detail and expertise has enabled Bushell Raven and Armstrong Watson to work together as a team to produce some extremely cost beneficial results for clients.
Whether the premises is a holiday park, offices, pub or hotel, David's specialist knowledge of the qualifying expenditure allowances for each category has been invaluable to us when preparing the capital allowance surveys and reports, sometimes working to very tight tax submission deadlines.
We look forward to working with David in partnership again in the near future.
Gary Bushell FRICS, MAE, Managing Director, Bushell Raven Limited
We are a leading UK manufacturer based in West Yorkshire, we undertake research and development to produce environmentally friendly and innovative protective packaging solutions.
Armstrong Watson advised us on the potential for making a claim for R&D expenditure and Steve Holmes guided us through the entire process. Steve’s friendly, proactive approach, sound advice and in-depth knowledge of a complex tax area, secured a considerable reduction in our corporation tax bill. I would recommend Steve’s services to anyone who might be in a position to claim R&D tax relief.
Andrew Corney, Financial Director, Custompac Limited
We were involved in carrying out the refurbishment of several existing warehouse buildings on the site which were clad in asbestos sheeting and we intended to replace the covering with modern materials.
When it was pointed out to Armstrong Watson that these buildings were being redeveloped and they had contained asbestos, they suggested submitting a land remediation relief claim to cover the cost of removing the asbestos and the replacement materials.
Because of the extensive nature of the redevelopment work a claim was submitted to HMRC which led to a corporation tax saving of £208,000. HMRC enquired into the relevant tax return. However, after a robust defence of the claim by Armstrong Watson and a site visit by HMRC, the claim was accepted in full.
This opportunity has led us to refurbishing five buildings on the site retaining the previous structure and providing good quality warehouse space at a competitive price. Without this happening the buildings would likely have remained in their previous dilapidated condition and would have eventually been demolished.
A W Goddard, Chief Executive Officer, Kingmoor Park Properties Limited
Our Capital Allowance Claim couldn't have been easier. We were pushed for time to get the report written and submitted but Armstrong Watson were extremely efficient and came out to see us and got the ball rolling immediately to ensure we met the deadline. An excellent result from excellent service with very little input required from our end, we couldn't be more pleased.
Sally Schrieber, Assistant to the Director, Cuckoo Brow Limited
We turned to Armstrong Watson for advice about a recent property transaction. Our situation was complex as my husband works abroad. The advice we received was thorough, timely and ultimately very beneficial to us. Armstrong Watson was extremely professional and we would not hesitate to come back for financial advice in the future.
Caroline and Alan Macdonald
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Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is 15 Victoria Place, Carlisle, CA1 1EW where a list of members is kept. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. Unless otherwise indicated, either expressly or by the context, we use the word “partner” to describe a member of Armstrong Watson LLP or an employee of Armstrong Watson LLP in their capacity as such.
Armstrong Watson Audit Limited is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales, number 8800970. The registered office is 15 Victoria Place, Carlisle, CA1 1EW.
Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales, number 7208672. The registered office is 15 Victoria Place, Carlisle, CA1 1EW. Armstrong Watson Financial Planning & Wealth Management is a trading style of Armstrong Watson Financial Planning Limited.
Armstrong Watson Trustees Limited is a limited company registered in England and Wales, number 84495656. The registered office is 15 Victoria Place, Carlisle, CA1 1EW.