ACCOUNTING & AUDIT SERVICES
RICHARD STACEY

“Previously we had not really worried about the detail, as long as there was sufficient funds available, we thought everything was going ok. It wasn’t until we started eating into our overdraft facility did we notice a problem. We contacted Watsons and they came in and produced accurate, up to date management accounts which immediately highlighted our costing problems. We now use them quarterly to review our figures and provide valuable input.”

 - Richard Stacey

Client Industry
Building contractors

Location
Sussex

Background
The company had been trading for a number of years, but had recently experienced significant income growth.

Problem
They were unable to produce accurate, meaningful management information and so were unable to monitor recent financial performance and make the necessary changes when required.

Watson's Solution
Watsons began visiting the client regularly in order to produce quarterly management accounts and meet with the company management team to discuss recent performance. This process also enabled the company to accurately predict their funding requirements and ensure facilities were in place well in advance.

Result
The initial costing issues were highlighted and adjusted resulting in an increase in profitability. The company was also able to source additional funding to aid expansion as accurate and timely information was available to the lending institutions.