Henman Dunn Limited, a Derbyshire-based plumbing and heating company, was co-founded by directors Ashley and Kieren. Initially, they worked with an accountant recommended by subcontractor friends, but after an informal conversation with David from Sibbalds, they realized they needed more proactive financial guidance.
They hadn’t received advice on VAT registration, proper bookkeeping, or tax planning, leaving them uncertain about their financial health. After considering their options, they appointed Sibbalds as their accountants, and since then, Henman Dunn has experienced substantial growth.
How We Helped:
- Limited Company Set-Up: We transitioned the business from a partnership to a limited company, saving around £4,000 in tax in the first year alone, with significant future savings for the directors.
- VAT Registration and Bookkeeping: We handled the VAT registration process and took over the bookkeeping, allowing Ashley and Kieren to focus on growing the business.
- PAYE Setup: Sibbalds set up a PAYE scheme for the directors and helped secure government support to fund two apprentices.
- Accounting System Setup: We implemented Xero, a cloud-based accounting software, enabling Ash and Kieren to manage invoices and track their financial performance remotely while we processed purchase invoices, bank reconciliations, and VAT returns.
- Quarterly Management Accounts: We produce quarterly management accounts and present them in regular board meetings. These meetings help Ash and Kieren think strategically about business growth, with action plans covering areas like marketing, staff management, tax planning, and cash flow management.
“The quarterly management meetings have driven our company forward by helping us think strategically and tackle key issues like marketing and cash flow.”
By working closely with Henman Dunn, we’ve provided structured, ongoing support that continues to facilitate their growth, ensuring they have the tools, systems, and financial insights needed to drive their business forward.