Sit back, relax - look what we can do for you

Two employees of a local firm approached P A Hull & Co. when they were given the opportunity to buy the firm they worked for.

Sound advice about the practical aspects of running a business.

Although the buyers were confident that they knew the business inside out, they also knew that they needed a lot of advice about the purchase, including whether to set up a new limited company, the best way to fund the deal and even whether the business was viable in its current form. We helped them to prepare cash flow forecasts which showed that the business was viable and helped them obtain a favourable funding deal for the buyout. We discussed various options to make sure that the business was set up in the best way possible for their situation.

The directors appreciated that they would need lots of hand-holding in the initial months as they got to grips with the demands of running the business including all the tax and company law requirements which they had not previously had to deal with. We were able to give them lots of advice precisely when they needed it most and now that the business is well established under their leadership, we are still involved regularly in preparing accounts, delivering ad hoc advice and dealing with personal tax returns for the directors. In addition, we also help the in-house book-keeper whenever she has queries. Our remote-access service is especially useful for resolving most accounting problems that arise.

The company requires an audit and because we are Registered Auditors we are able to carry out this work on behalf of our client. Although the directors initially considered this requirement to be no more than a necessary evil, they appreciate the advice we gave them regarding their systems and procedures as a result of our audit work. Our audit report is an important factor in helping them win competitive tender bids.

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