Background: The company had undergone a difficult period where a transformation of the business had not delivered the expected sales growth. This resulted in it carrying significant overheads and therefore making a loss and putting severe strain on cashflow. The board had begun the process of changing the management team and two non-exec directors had…
Background: A medical device company that has developed a specialised product was having difficulty penetrating a market which was heavily regulated and already dominated by major manufacturers with years of experience and large market shares. The company had to prove, not only to the regulators, but also to the competition, on how their product complimented…
Background: The company had just taken over a competitor business, doubling its size overnight. It had relocated to allow the two businesses to be co-located and had lost key finance staff as a result of the move. In addition to this, immediately prior to the acquisition, the business had undergone a G/L implementation that had…
May Figures generated an increase in an R&D cash refund from £550,000 to £680,000 despite the original claim being rejected by HMRC. A leading health service provider under professional guidance filed a claim for an R&D Tax Credit cash refund of £550k. The claim was based on £1m of payroll costs. HMRC were appropriately questioning of the change…
Business Issue: Beechbrook Capital enlisted EFM’s services due to their increasing concerns of using the traditional financial due diligence reports being produced by the “top” accountancy practices. Their opinion was that the methods used by these practices were still being produced in the same format for the last 15 years or so, the reports were…
Business Issue: A retail chain in Ireland was losing money and had run into cashflow problems. Their suppliers were no longer prepared to supply goods on credit and all purchases had to be paid for in cash before delivery. The company’s staff retention had also become a major problem. Background: The retail firm owned and…
Background: Many businesses reach a stage in their growth, where, due to scarce resources, growth is restricted. Often that resource is cash, but interestingly in this case it wasn’t, it was the MD’s time. The MD was inextricably involved in the majority of transactions, had no time to work on growing the company and preparing…
Business Issue: The owners had a stand alone European Student Development business, when the group Financial Controller left it came to light that there were a lot of accounting issues for this group and that there was little understanding of its cash needs as well as where each of the European entities was in terms…
Background: Three years ago, a global manufacturing company needed a Financial Controller to cover a period of prolonged absence. Tracy Lewis from the EFM network was hired for the three-month contract. Tracy is a very experienced Financial Controller with 20 years in industry and lectures in Finance and Management. During the contract, Tracy collated and presented…
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