Arborhouse Case Study
Arborhouse (‘the business’) is an independent team of craftsmen creating bespoke furniture, wood cabins, handmade kitchens, garden rooms and boat interiors with a passion for completely redesigning or creating new living spaces using beautiful timber and their expert woodworking skills. Handcrafted in Keynsham the business serves customers across Bristol, Bath and the South West.
The business was started by two friends who initially set up under a partnership arrangement. With a true passion for woodwork and originality combined with the technical expertise to design and create bespoke projects from initial design right through to installation Arborhouse soon developed a strong reputation for unique craftsmanship. The unique blend of skills within the business in maximising potential space and making the most out of a home, houseboat or garden resulted in a period of rapid growth. This led to the partners reviewing the structure of the business and deciding to incorporate as a limited company. In 2014 the business was approached by Everett King who offered to support them in this transition and to provide key services to support the business as it expanded and evolved.
The Service and Solution
Arborhouse engaged Everett King in 2014 after conducting their own research on other accountancy practices, service offerings and price. Initially Everett King took the steps to form and set up the business as a limited company and looked after all the formalities and paperwork required in becoming incorporated.
The business quickly saw the benefits of engaging Everett King on a ‘retainer basis’. This means that there is a set fixed monthly fee in place enabling the business to budget for the year in advance.
Like all expanding businesses Arborhouse has encountered the typical highs and lows of trading during its life cycle and relies on Everett King to provide practical business consultancy to support and guide it through such periods. The monthly book-keeping and management accounts prepared by Everett King provide the business with a full overview and understanding on how the business is performing and identifies any gaps or illuminates success so that the business can flex and adapt taking advantage of real-time information.
Everett King ensures the required legal and compliance documents for the business are in order, keep them up-to-date with the latest tax laws, prepare statutory accounts and keep the company’s status updated in the Government’s company register. They also provide business consultancy services, management accounts, a payroll bureau service and complete personal self-assessment returns for the directors.
The holistic service and trusting relationship offered by Everett King are clearly demonstrated in the breadth of managed accountancy services provided, including:
- Forming legal structure and registration with Companies House of a new limited company.
- Preparing all the bookkeeping to ensure the accounts are up to date.
- Producing timely monthly management accounts and ensuring timely delivery of financial statements meeting both management and statutory requirements.
- Submitting all required year-end statutory documentation to HMRC and Companies House.
- Setting yearly budgets including forecasting, management and monthly monitoring.
- Executing payroll, auto-enrolment, calculation of payslips and pensions and provision of payslips.
- Identifying potential tax-planning opportunities.
- Advising on cash flow management.
- Ensuring that all tax returns for income tax, capital gains tax and VAT are submitted on time.
“We completely trust Everett King. They provide us with the support we need when we need it and the Partners are always available to speak to us about our business. That accessibility is such an important part of the relationship. They ensure we are tax efficient as a business, help us navigate our VAT obligations and communicate regularly with us so that we are aware of new legislation, reliefs, tax etc. They put in the extra effort with their clients which means I don’t need to worry about the financials and can concentrate on my craft.
The personal touch, professionalism and advice provided by Everett King ensures as a business we know where we are and what we need to do to continue to grow our business
Three words would I use to describe Everett King? Personal, competent, efficient.”
Matt Merttens, Co-Founder at Arborhouse