Case Studies

Case Study: Compromise Agreements and CVA Offers Lifeline for Business

Background

The Company was significantly geared with indebtedness of over £4m between three banks, with all three having security over the Company’s assets.  There was an inter-creditor agreement between the banks resulting in one of the lenders having priority over the others. 

The senior secured lender had concerns regarding the Company’s viability and had moved the Company into its special situations unit and had instructed an insolvency practitioner with a view to them taking steps to place the Company into Administration.  

Case Study: Is all Financial Advice the Same?

Whilst it’s important to regularly look at your savings and investments, it’s also vital to take stock of your lending commitments too and the security in place to protect these should circumstances change. By either not taking the time to ensure adequate and appropriate cover is in place or seeking the wrong support, guidance and advice, this could prove to be a costly decision.

Case Study: Project Farm

Background

We were instructed by an existing client of Armstrong Watson within the agriculture sector who was experiencing cash flow issues.  Our client was asset rich but had a liquidity issue having already extended its overdraft with its bank considerably to £700k from a previously agreed facility of £200k.   The Company’s funding requirement was the result of several poor crops due to supply issues which had impacted upon profitability.  The Company was in the process of pursuing a claim with its supplier.

Case Study: Walkden v Drayton Manor Park Forensic Case

Walkden v Drayton Manor Park Case.  Armstrong Watson's Forensic Accounting team's investigation services were instrumental in findings of £1.5m case.

Case Study: Cricket Scotland Limited

Jim Lockhart has worked with Cricket Scotland Limited for over a decade providing business advice on their audit and tax accounts. 

Case Study: Facepunch Studios

Armstrong Watson has reviewed Facepunch Studios systems, transforming their accounting process and resulting in significant time savings for the company.

Case Study: McGowan Miller Limited, South West Scotland

Douglas Russell has advised McGowan Miller Construction for over 8 years, providing recurring services for accounts, tax returns, payroll and financial planning.

Case Study: Company Voluntary Arrangement

Armstrong Watson were approached by a construction company who had encountered difficulties with their cash flow after having encountered a reduction in turnover coupled with encountering losses on a number of larger contracts. The underlying business was potentially sound however the cash flow difficulties had meant that historic liabilities were starting to become a challenge for the business.

With the assistance of Armstrong Watson, a major review of the company's operations was undertaken, which highlighted several matters:

Case Study: Project House

The directors and shareholders of Project House ran a successful IT related business for many years, during which time they were supported by tax and accounting colleagues at Armstrong Watson.  Following an approach from a competitor, and with help from Armstrong Watson’s corporate finance specialists, a sale of the business and assets of the company was agreed and completed.  The aim thereafter was to return value to Project House’s shareholders.

Case Study: Section 110

The principle activity of the company was property investment; holding approx. 170 residential, commercial and agricultural properties, mostly located in the North of England, but with additional overseas properties.

The company was originally inherited by five siblings and from the outset these individuals were clear that they wanted the flexibility to manage part of the company independently of one another so as to best meet the requirements of themselves and their respective families.