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Welcome to our latest audit clients

We are pleased to confirm we have been appointed by three leading businesses as their audit accountants. You can find out more about Selwyns Travel, Lumenpulse UK and Think Hire by clicking on the links below.

Our audit enables us to spot potential risks, find ways of boosting performance, and suggest ideas for growth.

We don’t just regard an audit as a single annual visit. For us, the face-to-face contact and information we collect is an integral part of an ongoing flow of knowledge. We use this to keep our clients well-informed and confident in their business decisions based on solid financial foundation.

When we have completed our work, we provide a comprehensive, accessible summary of the audit findings and arrange a meeting to discuss in detail these and any other issues. For more information about our audit service click here.

 

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Deal sees £1.5m turnover printing business acquired

Deal sees £1.5m turnover printing business acquired

We place great emphasis on our high quality relationships with other professional advisers. We believe that by working alongside the best lenders, lawyers and insolvency practitioners we can offer a fully rounded service that the modern entrepreneur expects.

A deal which saw one of our clients in the printing sector acquired has been completed successfully as a result of proactive teamwork with other professional advisers.

When one of our long-standing clients faced severe cashflow difficulties we were able to work closely with the directors and senior management team and other professional advisors to source buyers for the business, who could take it forward as a going concern.

The business, a successful owner managed business had been trading for more than 15 years. Earlier this year it faced extra challenges due to reduced demand for its specialist glass printing as well as stiff competition from overseas competitors.

Sadly, as margins continued to be squeezed, and after exhausting all other funding options, the directors had no other choice but to place the business in administration.

Working with restructuring specialists

We introduced the directors to SFP Restructuring Limited, the licenced insolvency practitioners, who immediately set to work discreetly marketing the business for sale through its network of contacts, investors and interested parties. After a period of just two weeks, an offer for the business was accepted and the business was acquired by a trade buyer.

The deal meant that the directors of the business could exit and new owners could continue the business with minimal disruption. It was a good deal all round and the business remains in experienced hands moving forwards giving certainty for staff, suppliers and the wider marketplace.

We were very pleased to be able to assist the directors to identify the most suitable exit from the business. Our clients were keen to ensure that the business was passed onto experienced operators, who would continue to use the brand name, maintain the skills developed by their staff and seamlessly integrate a new management team. This was successfully achieved by working closely alongside SFP Group, the restructuring specialists, who were able to move quickly and get the deal done.

Daniel Plant, director of SFP Restructuring Limited, said:

“By working proactively with management as well as the team at Alexander Knight & Co we were able to do all of these things achieving a good result in difficult circumstances.”

If your business is experiencing cashflow issues, speak to us to get advice on your options.

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Tyrers Coaches appoints Alexander Knight & Co as new accountants

Tyrers, the Chorley-based coach and travel operator has appointed us as its new accountants as the business gears for even more growth following a record year.

S. Tyrer & Son was established in Adlington in 1972 by Bob Tyrer. Bob had been a coach driver for more than 30 years and started his own business at the age of 58, with one vehicle: a Bedford with a Leyland engine on a Plaxton body.

Over the years his fleet expanded to five vehicles before he passed away in November 1992 when family members carried on the business.

The firm’s main booking office is still based in Adlington on Chorley Road and its garage is on Cowling Brow in Chorley where it now operates more than 80 vehicles.

Turnover last year grew by 20% compared to the previous year, topping £6m. The management team is confident of more growth as it plans further investment in new vehicles and premises over the next 18 months.

Clients include Bolton Wanderers, Preston North End, NST Educational Tours, as well as local authorities and schools.

Richard Buckle, managing director of Tyrers Coaches, said:

We had a good year last year thanks to growth in the number of new contracts we secured with schools, private companies and growth in the number of UK excursions booked by customers.

“We are delighted to appoint Alexander Knight & Co, who are experienced in acting for other successful coach operators, as advisers to our business as we plan our next phase of growth.

Tyrers is an historic family-owned business whose vehicles are instantly recognisable across Lancashire. The business is growing organically and perfectly located to serve Manchester, Bolton, Preston, Wigan, Blackburn.

The importance of reliable management information cannot be understated as the business seeks to enhance its trading position and make new investments over the next eighteen months.

We are delighted to have been appointed as their new accountants.

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Football’s coming home

It’s live. It’s loud. It’s (almost) here.

We have teamed up with our friends at Gresham Wealth Management to host an exclusive screening of the England v Belgium World Cup game on Thursday 28th June (7pm kick off).

If you are a football fan & would like to watch the likes of Henderson, Lallana, Gomez, Oxlade-Chamberlain, Alexander-Arnold & maybe Mignolet (hmmm… anyone spot a theme here?) in action at a private venue in Altrincham with a complimentary bar and snacks, then please e-mail alison@alexanderknightaccountants.co.uk to register your interest (quoting England/Belgium).

Official invitations & further information will then be e-mailed. Please be sure to RSVP to Alison as soon as you get it because places are strictly limited and it’s sure to be a popular fixture!

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WATCH: A coffee and a chat with Aquavision

In the first of our series of ‘A coffee and a chat with…’ we went to sunny Stockport to see our client Aquavision which is gearing up for growth in 2018 thanks to a flow of international orders.

Aquavision, the Stockport-based manufacturer of waterproof televisions is gearing for growth as international orders boom.

Aquavision manufactures in-wall and waterproof televisions which are being snapped up by luxury hotels and high-net worth individuals.

The business is now the UK’s market leader in the niche, grew revenues by twenty per cent last year, and has developed a vast network of professional partners worldwide.

Alastair Benn started the business from humble beginnings in his own garage.

Soon after making the world’s first waterproof television, he won his first order for a hotel project, the business boomed and he quickly had his entire family assisting him in boxing and dispatching the televisions.

Now operating from 10,000 sq. ft. premises and employing twenty people, the business exports 50 per cent of its sales to almost every country in the world. Aquavision serves four core markets: bathrooms, custom integrations, maritime and hotels.

Products range from 16” to the massive 85” screens manufactured onsite by a team of specialists. The hardware and software in the televisions integrates with all major manufacturers and the business is successfully developing a partnership with top-end audio brand Bang & Olufsen.

Alastair Benn, Managing Director of Aquavision, said:

“Waterproof televisions are in high demand across the world which is reflected in the fact that fifty per cent of our orders come from overseas. I’m passionate about producing high quality, luxury televisions.

“From day one, we’ve never compromised on quality and this is why we remain the number one British manufacturer of in-wall and waterproof televisions. We work hard at maintaining our reputation and we’re proud of the work we’re doing here.”

“We’ve not been affected at all by the Brexit decision or the recent General Election. We’re still growing, we’ve got an international outlook to business and we’re certain our European and worldwide partners will continue to do business with us as long as we maintain our innovation and customer service.

“The exchange rate has been great for our export market and we see no reason why any business which strives for innovation and has a global outlook can’t succeed. We’re proud to be creating new jobs and we’re dedicated to being based in Greater Manchester as we target revenues of £5m within the next eighteen months.”

Alexander Knight & Co is very pleased to be advising the Stockport-based firm.

Aquavision is a wonderful example of a successful British family-owned entrepreneurial company pushing the boundaries of what is possible in a fast-moving industry. We’re pleased to be working with the management team, advising them on tax strategy, growth and the business plan for the UK and international markets.

Stockport is one of those areas of Greater Manchester that seems to have increasingly more entrepreneurs springing up, re-locating and seeking professional advisers.

Investment into the borough has been considerable and there is a business culture developing there largely as a result of the successful implantation of an economic development strategy supported by Stockport MBC.

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Alexander Knight & Co advises football startup business in Manchester

Mi Hiepa Scout advised by Alexander Knight & Co

We’re delighted to be advising Manchester-based football technology startup Mi Hiepa Scout, an innovative company bringing virtual reality (VR) into the professional game.

Mi-Hiepa Scout has launched the world’s first virtual reality technology aimed at rehabilitating injured footballers and scouting new talent.

Top clubs, physiotherapists and sports scientists have been involved in the development of the product, which is being rolled out this season.

Premier League clubs

Premier League clubs are already looking at the system, created by Mi-Hiepa Scout, and its founders hope that it will also be used to improve current players and scout for players in the future.

The company’s proprietary limb tracking mechanism enables the system to track the movement of a player’s feet and shins independently in 3D space. With no need for handheld controllers to move feet, accuracy and immersion in the virtual reality experience is first class.

Joint venture

The company was created as a joint venture by leading Manchester developers Mi and sports data experts Hiepa and we’ve been appointed as their accountants and will be assisting the company moving forwards.

Adam Dickinson, Production and Development Director of Mi-Hiepa Scout, said:

We’ve been delighted with the reaction by football clubs in the professional game. We’re operating at the elite level of sport and clubs are keen to explore any advantage they can bring to their squad.

For the first time, coaches, managers, scouts and sports directors can produce rapid, standardised, measurable and comparable results from talent pools that may have been previously unmanageable.

Our system helps get players better mentally and physically through individual training drills.

From a talent spotting perspective, it provides an objective, sterile environment, meaning all players have exactly the same conditions and can be compared equally. A youngster could go through our tests in thirty minutes and you would get objective data about their ability and performance. You could test 1,000 players a week as a first point of filter.

One of the problems many clubs are trying to solve is player engagement during rehab after an injury has occurred. This product certainly does that while providing valuable data for players, coaches and club performance analysts.

Strong credentials

Murray Patt, founder of Alexander Knight & Co in Manchester, said:

The professional world of sport is increasingly looking at technology to amplify the recovery time of injured athletes. The management team at Mi-Hiepa Scout has got strong credentials and connections in the world of football and there is no doubt that the growth plans for the business are impressive. We’re delighted to be advising the team.

Gary Black of Manchester law firm Freeman Fisher, who is advising the company, said:

It’s great to see a local company making huge waves in the VR world within the sporting arena. Manchester is already known as being one of the leading cities in sporting success and Mi-Hiepa Scout is making sure that our city is seen as the leading city when it comes to technology in sport.

If you are a startup business in Manchester – and wish to be formed as a joint venture initiative between investors and/or other companies – speak to Murray Patt at Alexander Knight & Co. 

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Alexander Knight & Co advises on tax as Travis Perkins acquires Stockport business

TFS acquired by Travis Perkins

We were pleased to advise the owners of a successful Stockport-based business when it was acquired by a major PLC on their tax liabilities.

TF Solutions, (TFS) is one of the UK’s leading air conditioning and refrigeration distributors and was recently acquired by the country’s largest builders’ merchants, Travis Perkins.

The purchase enables Travis Perkins to expand its offering through the sale and supply of air conditioning units. Our specialist tax role on the deal was highlighted by North West Business Adviser magazine – you can read all about the deal here.

Tax advice on deal

TFS was founded in 2001 and distributes a range of refrigeration and air conditioning products from three sites in Stockport, Burton on Trent and Dunstable. It will continue to trade as TF Solutions following completion of the deal.

Murray Patt,, founder of Alexander Knight & Co, said:

We were delighted to provide our client with the tax advice on this transaction and expect them to go from strength to strength as part of one of the most trusted brands in the building materials marketplace.

Andrew Cherrill has been confirmed as the new managing director at TF Solutions. He said:

We fully intend to continue operating as we have always done giving our customers a service level which is second to none in the industry. The acquisition deal will allow us to grow as a company and expand that service.

Frank Elkins, CEO of Travis Perkins’ Contracts division, added:

“TF Solutions have an extremely strong identity within the air conditioning and refrigeration market.”

The business currently employs 48 people at its three branches trading across the whole of the UK.

Speak to us to get specific tax advice before you agree any kind of deal. You need to know how to minimise the level of tax you will pay when you sell your business.

 

 

A brew and a chat with…Aquavision

In the first of our new series of client profiles entitled ‘A brew and a chat with…’ , we took a trip to the Stockport headquarters of one of the UK’s most innovative manufacturers.

Tucked away on an industrial estate in Bredbury is a business that experiencing huge international growth at the cutting edge of the competitive audio-visual industry.

How are they doing it?

In 1997, Aquavision pioneered in-wall and waterproof televisions.

Since making the world’s first waterproof television, the innovative team, led by managing director Alastair Benn, are now market leaders and have developed a vast network of professional partners worldwide.

It’s a real British success story lead by a man who started the business from humble beginnings in his own garage.  Soon after making his first waterproof television, he won his first order for a hotel project and had the entire family assisting him in boxing and dispatching the televisions.

Alastair Benn continues to drive the team forward and remains instrumental in the development of new, innovative products.

“Today, with the support of our distributors and industry relations, the Aquavision brand is well established and successful.  This fuels our passion to continue to produce high quality, luxury televisions.  We never compromise on quality and this is why we remain the number one British manufacturer of in-wall and waterproof televisions. We work hard at maintaining this reputation and we’re proud of the work we’re doing here.”

Now operating from 10,000 sq. ft. premises, the business exports 50 per cent of its sales to almost every country in the world. Aquavision serves four core markets: bathrooms, custom integrations, hotels and the marine industry.

Products range from 16” to the massive 85” screens manufactured onsite by a team of specialists. The hardware and software in the televisions integrates with all the main manufacturers and the business is successfully developing partnership with top-end audio brand Bang & Olufsen.

And how are they coping with Brexit? Alastair, is pretty confident that all will be OK:

“We’ve not been affected at all by the Brexit decision or the recent general election. We’re still growing, we’ve got an international outlook to business and we’re certain our European and Worldwide partners will continue to do business with us as long as we maintain our innovation and customer service. The exchange rate has been great for our export market and we see no reason why any business which strives for innovation and has a global outlook can’t succeed.”

For more information about Aquavision visit www.aquavision.tv

If you want to feature in ‘A brew and a chat with…’ email alison@alexanderknightaccountants.co.uk