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Construction Industry Case Studies

Construction industry accountancy specialists initial business health check evolves to full support for specialist building company

With SGW recommendations successfully implemented and the business starting to turn around, Portsmouth Carpentry asked SGW to provide a full package of financial support services ... a decision that has contributed to the business turning over in excess of £1m today.

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Construction industry accountancy specialists support building company’s growth ambitions

Working with SGW saw Hi-tech turnover increase from less than £1m to over £3m in three years. The business is particularly recognised in Hampshire and neighbouring counties for its expertise in drainage and for disabled adaptations.

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Construction industry accountancy specialists support building company’s growth ambitions

Hi-tech’s successful partnership with SGW Accountancy Services Ltd began in 2003, when SGW was asked to perform an initial business ‘health-check’.

The request was made because this otherwise successful company was starting to experience a number of problems as the business rapidly expanded including – as identified by the health-check - high book debt, lack of credit control, no invoicing structure, security issues attached to the way in which staff were paid and poor knowledge of the contemporary CIS scheme.

Following the health-check, SGW was asked to assume immediate responsibility for book-keeping and financial transactions. Subsequent SGW work/recommendations included:

  • implementation of debt collecting procedures
  • timely invoicing and invoice chasing
  • creation of a purchase order system
  • comprehensive adoption of the CIS scheme
  • establishment of VAT and PAYE controls
  • use of HMRC’s ESI (Employment Status Indicator) tool
  • use of surveyors to ensure proper job pricing
  • use of a Health and Safety expert.

Working with SGW saw Hi-tech turnover increase from less than £1m to over £3m in three years. The business is particularly recognised in Hampshire and neighbouring counties for its expertise in drainage and for disabled adaptations. It is properly accredited by respected industry bodies and is approved by Hampshire County Council for building and maintenance projects in schools.

Hi-tech enjoys a full package of financial support services from SGW and the business continues to go from strength to strength.