New Company Set Up to Purchase Existing Business

overview

New company set up to purchase assets of existing children's nursery in Cheltenham

Issues
  • Financial plans for funding – banks and pension led funding
  • Set up accounts system, PAYE for director's wife to process
Actions Taken
  • 5 year plan = P & L , balance sheet, cashflow
  • Set up cloud based accounting, payroll including links with bank – Xero & Receipt Bank
  • Enabled director's wife to process accounts
  • Updated P & L and cashlfow forecasts
  • Meetings with director to monitor results and look at actions to take
Results
  • Cash in place for purchase of assets
  • Smooth transaction after sale
  • Accurate figures to enable future planning

Colin acts as our part time Finance Director. He helped put together a financial five year plan including P & L, balance sheet and cashflow forecasts to enable loans to be granted from both traditional (bank) and alternative (pension led) funding, to enable me to buy an existing business. Once the business was purchased he has set up a cloud based accounting system and works closely with me to monitor the figures and help move the company forward."

Adam Newman
Managing Director, Newmans Day Nurseries Ltd

Contact Us

Gloucester
27 Little Normans, Longlevens, Gloucester GL2 0EH
01452 537599 / 07771 874022

Cheltenham
105-107 Bath Road, Cheltenham, Gloucestershire, GL53 7LE
01242 633100 / 07771 874022

info@spenceraccounting.co.uk

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