The initial introduction to Bruce Taverns was through a telemarketing firm we were using at the time, so it wasn’t a particularly warm lead. However, when we met Kevan and Scott we were able to show them that we were management accounting experts. We had a good meeting and we were delighted when they engaged us.
The first thing we did was set up a management accounts model which gave them a P&L by business unit and also showed them the performance across each company within the group. The model also included a consolidated balance sheet, so it was easy to see the overall net asset position of the group.
Later on, we set up a weekly P&L forecast for the group. This allows Kevan and Scott to monitor performance in between management accounts, which allows them to take action quicker.
We have also done one off projects such as arranging the capital allowance claim. We used a third party specialist company for this, who worked on a no win, no fee basis, so it was low risk for Bruce Group. The claim ended up being very successful which resulted in a large tax…