The Noble Consultancy Ltd Case Study
The Noble Consultancy Ltd (“the business”) provides a broad range of architectural and planning services for residential developers with designs built across the UK. Since its’ foundation in 1997, the business has developed a strong industry reputation delivering architectural designs for over 40,000 homes, spread over 3000 acres with construction costs in excess of £5 billion.
Not long after inception, a need arose for a part-time bookkeeper to support the rapidly expanding business. Over the following years, the basic bookkeeping service evolved into the need for an “end to end” full accountancy service. Further growth and expansion in recent years has resulted in the appointment of an Outsourced Finance Director, who now sits on the management team.
The Service and Solution
The business provides a wide range of architectural design services within the construction industry. The industry can be complex, difficult to predict and is significantly driven by the economic climate. The main criteria for the business in engaging a bookkeeper was to appoint someone that could quickly upskill to understand the nuances of the industry, help it plan, budget and drive the business forward. The initial relationship was with Brian Phillips of Everett King and over the years has grown into a managed accountancy service.
The strong relationship between the MD of the business and Brian Phillips has meant that the business has had the advice and counsel of his expertise through both good and challenging times. During downturns in the industry Brian has provided advice and support in implementing cost saving initiatives and business restructuring plans whilst maintaining the service to clients, retaining the integrity of those relationships and thereby enabling the business to come out stronger. This included restructuring finance and applying cost reduction programmes during the double dip recession in 2007 and 2013. A mutual trust and understanding has developed between the business and Everett King and their philosophy to be a ‘one-stop shop’ to clients is clearly demonstrated in the relationship with The Noble Consultancy. The range of managed accountancy services provided by Everett King includes:
- Producing bespoke monthly management accounts and ensuring timely delivery of accurate financial statements meeting both management and statutory requirements.
- Setting of yearly budgets including management and monthly monitoring.
- Analysing of under / overspend against set budgets.
- Establishing and overseeing monthly KPIs, reporting and recommendations to management.
- Executing day-to-day financial operations, including bookkeeping, invoice processing and monitoring, fixed asset management, payroll management, salary reviews, etc.
- Advising on current and future strategy including commercial risk factors and identifying potential tax-planning opportunities.
- Negotiating contracts with suppliers.
- Streamlining processes and systems.
- Advising on cash flow management.
- Ensuring that all tax returns for income tax, capital gains tax and VAT are submitted on time.
- Attending and inputting at management meetings in Finance Director role.
- Ensuring that all accounting systems and practices are in line with all regulatory requirements and changes.
“We receive a first-class experience from Brian and the team at Everett King. They have become an extension of our business and Brian, in particular, is a valued member of our wider management team, offering well thought-through strategic advice, as well as helping us with accounting and taxation matters. As we have grown, our needs for support and advice have changed and Everett King has grown with us. They have always been there to support us through periods of change and are proactive in the accounting advice and support they provide to us including the impact of all new government legislation and compliance regulation and how it affects our business.
One of the most important factors when working with Everett King, is the relationship we have built up over the years. I know that with Brian and the team on my side my business is in safe hands.
Three words would I use to describe Everett King? Professional, Thorough, Accurate”
Nick Noble, Founder and Managing Director of The Noble Consultancy Ltd