Norris Motorsport is one of Sunny Accountants’ longest-standing clients, having joined the firm soon after it was founded.
“We were one of Karl’s first clients but we had known him from his time at our old accountants. We really weren’t happy with the service they provided, we had a real nightmare with them and they were behind on a lot of things,” said Oli.
“However, when Karl joined them and took on our work things quickly turned around and so when he set up on his own, we decided to go with him instead.”
Sunny Accountants mainly supports Norris Motorsport with its accounts and VAT returns, but the firm offers advice in other areas as well.
“At least once a quarter we will have a chat with Karl and he will go over the business and talk to us about our plans. He knows our business well and we know him.
“He and his team are always quick to respond if we have a question and we always get a helpful answer.
“Importantly he takes the weight of us, which has allowed us to focus on the growth of our business – we really trust in the firm and its advice.
“They are very up to speed on most things and seem one step ahead of the game. They have become an important partner of the business over the years and if anyone else I know needs help I am always happy to recommend Sunny.”
“I first met Karl when he worked for another firm of local accountants. I wasn’t happy with the service they provided, but I got on well with Karl and so when he opened up his own practice we moved straight to Sunny.”
“You can always rely on Karl and his team to be there when you need them most and everything they do is good. I know if I ever need advice he is there to help.”
Sunny supports Kirkby Cross Garage with a wide range of services, including bookkeeping and ad-hoc advice.
“In the past, when I have had a new vehicle come in and I am unsure of the information I need to include in the books, I only have to pick up the phone and Karl gives me the advice that I need.
“I am more than happy with the reliable and responsive services that Sunny Accountants offer and I have no intention of changing my accountant any time soon.
“I’ve recommended other friends and contacts to Karl and I would happily do so again knowing the all-round good service they would benefit from.”
Scott was recommended the services of Sunny Accountants by a close contact and client of the firm, who was happy with the service they had received.
Scott said: “They offer a really good service and I was impressed with Karl and his team from the get-go. Karl is easy and laid back, but always delivers excellent advice when I require it.
“They are proactive and provide a good level of service. The proof is in the pudding when it comes to the effectiveness of their advice.
Under the guidance of Sunny Accountants, Ryan Roofing incorporated and became a limited company and has enjoyed many benefits from the advice they have received.
“We were unsure of what to do when it came to incorporation. However, having had a meeting with Karl, he clearly explained the advantages of becoming a limited company and registering for VAT and we haven’t looked back since,” said Scott.
“It has taken our businesses to the next level and with Sunny’s advice, our turnover has increased fivefold, which has meant I have been able to buy my dream home.
“If there is anything I need, I just ask them; nothing is too much. The entire team is friendly, reliable and helpful.”
Ryan said he would be happy to recommend Sunny Accountants to others and has already done so for several of his friends and contacts.
Sunny Accountants began working with MFP Linings Ltd following a recommendation from a close friend. Gillian and the business were unhappy with their previous firm of accountants and wanted to find a team of professionals that would offer more support.
“Karl’s knowledge is second to none and he is very client focussed,” said Gillian. “Unlike our previous accountants, Sunny are always there to offer advice and they are very proactive – helping us with a wide range of issues.”
Sunny Accountants manages a number of financial functions within MFP Linings Ltd, including helping with payroll, CIS submissions and VAT returns, so that the directors can focus on running their business.
Gillian said: “Karl and his team also help us with our personal tax matters and they have significantly reduced tax liabilities across the business.
“He continues to review and advise us on the best way forward. He responds exceptionally well and goes above and beyond to provide a high level of service.
“Most importantly, he says exactly what he is going to do and then does it. His professional conduct is exemplary, which is why we always trust his judgement.”
Gillian said that she has recommended several businesses to Sunny Accountants and has no hesitation in referring the firm to others.
“The whole team is really approachable and nice, which makes a big difference. What’s more, if they are unable to assist, they always divert us to the right person who can help.”
Cavendish Motor Workshop have many exciting expansion plans that we’re proud to be advising on.
In 2009, Geoff realized a lifelong ambition of running his own business. He made the step from employee to business owner when he bought the workshop division of Cavendish Motors. After 2 years service for Cavendish and over 18 years in total in the motor trade, Geoff felt the timing was perfect.
He has already overcome many hurdles and obstacles, having to move to bigger premises and keeping up to date with technological advances in the motor trade. Not to mention the lack of quality mechanics in the job market.
Cavendish are certainly not ones to rest on their laurels. This business has steadily grown since Geoff purchased the repairs division. Part of their runaway success has been founded on their top rated customer service and competitive pricing.
When the opportunity arose to buy out the parts division in 2015, we helped Geoff negotiate a fair price. We worked with him to make sure that cash flow would not be an issue following the addition. Geoff also took our advice on funding sources for the acquisition.
Having started out using the services of a non-chartered firm, Geoff took the advice of a business associate who recommended that he source a Chartered Accountant. Geoff felt that the extra scrutiny and professional standards that a Chartered firm have to adhere to go some way to guaranteeing a certain level of service.
During this time, Geoff worked closely with our owner, Karl Watts, who went on to create Sunny Accountants. Geoff jumped at the chance to follow Karl to his new business, becoming one of his first clients and sticking with him ever since.
“I knew and trusted Karl. I have a personal meeting with Karl every month. He is happy to deal with any queries as they arise. Karl is very hands on.”
Over the last few years, as well as advising on the 2015 acquisition, we have advised on:
- Choosing the right software package for the business
- Auto enrolment
- Capital gains tax
- Incorporating a sole tradership and making use of tax incentives such as Entrepreneurs relief and Incorporation relief
- The different ways to hold a business property
- Upcoming tax liabilities and mitigation strategies
As Geoff says “Business is good but there are always changes that can be made to improve efficiencies”. We will continue to advise on such issues as we see them. That’s made much easier because we regularly visit our clients – this is very important to us as a firm.
Geoff’s future ambitions include enhancing the range of parts stocked and offering a delivery service on all parts. An MOT bay, along with a body shop, are also on the agenda, as is the potential to move into their own premises.
The motor industry is one of our specialities. Overarching all that is that we enjoy working with businesses with ambition – companies where we can utilize our knowledge of taxation and business in general to help guide our clients on their journeys.
Visit Cavendish Motor Workshop here.
CDF Estates have been delighted by the way we have transformed their business practices.
CDF Estates were formed in 2006 by Italy born Claudio De Falco, who moved over to the UK in 1987. Although he came from a hospitality industry, he did have experience of the rental sector from being a private landlord. The motivation to start CDF Estates was borne from the number of requests he received from private landlords asking him to look after their properties as well as his own.
Early issues to overcome included:
- A general wariness that landlords had of letting agents
- Ensuring the right accounting procedures were in place
- Choosing the right software
- Sourcing quality, reliable contractors
- Getting the right staff in place
- Complying with HMRC deadlines
CDF Estates focussed on offering a fantastic service at a very reasonable price and it is this strategy that has enabled them to grow from strength to strength. Expansion has also led them to opening another branch in Hucknall, to complement the Head Office at Sherwood.
We are the third accountancy firm that CDF have used, earlier problems encountered with our predecessors were:
- A lack of communication
- Not having one point of contact – being passed over to junior members of staff
- No proactive tax planning
- A lack of knowledge in certain areas of taxation
- Filing deadlines taken right to the wire
- A large amount of HMRC enquiries
Karl Watts met with CDF Estates in 2013, following up on a lead we received through our website. He remembers the first thing Claudio asked him –
“Are you a one man band, I only want to deal with a one man band?”
At that time, we were. We went on to establish that Claudio wished to work with an Accountant that he could build a great relationship with, where he felt comfortable asking any questions, where he would not be passed from pillar to post and with someone who had a detailed knowledge of tax law, not just in this country but who was also well versed on international taxation issues.
We are very careful that we do not lose sight of the appeal that sole trader Accountants hold, although we have grown rapidly, we are determined to treat our clients in the same manner that a “one man band” Accountant would.
We quickly established that a business of this size needed a lot more than a once a year rush job of annual accounts being produced, we went on to:
- Recommend and implement a quarterly bookkeeping service on Xero software
- Collect and drop off the relevant paperwork
- Arrange quarterly management meetings to discuss the business
- Advise on overseas capital gains
- Advise on the most tax efficient way to deal with company vehicles
- Advise on and set up auto enrolment
- Negotiate with lenders on mortgage terms
Presently, business has never run smoother. The days of last minute rush jobs have long gone and Claudio is looking forward to Sunny Accountants working alongside CDF Estates as he gears up towards retirement and beyond. Our long term focus with CDF includes:
- Ensuring IHT liabilities are minimized
- Ensuring Capital Gains Tax reliefs are maximized
- The value of the business is enhanced in anticipation of a future sale
CDF Estates offer a full management service for just 10% and are members of The National Approved Letting Scheme.
The Dovecote Inn: The village pub bucking the trend.
David and Linda Brown took over The Dovecote Inn in May 2007 with no significant experience in the pub industry, coming from textiles and healthcare industries respectively.
There were big challenges from day one:
- raising the required finances
- proving to the landlords, The Crown Estate, that they were the right people to take the business forward, and
- the culture shock of the extremely long hours that pub owners are expected to work.
Aggressive rent increases and a 500% increase in rates followed. The delightful location, at the top of several hills proved to be a curse when 3 successive winters of above average snowfall led to a loss of trade because their loyal customers were either unable to venture out!
To their credit, they coped admirably with all of these problems alone.
However, it doesn’t need to be that way. A good accountant will always offer way more than simply number-crunching and the filing of tax returns.
And it was for this very reason that they moved from the accountant that they inherited when first taking over the lease. At the time, they felt an accountant who specialised in the pub industry offered them the most potential for advising and supporting the business going forward.
Unfortunately, the new accountants failed to deliver on their promises, communication from them was poor and deadlines for filing were frequently missed.
Sunny Accountants contacted The Dovecote in 2013, we were already acting for several pubs at this time and we were keen to add to our portfolio.
“Karl came to see us and presented Sunny Accountancy Services which turned out to be exactly what we were looking for.”
We explained how we seek to work alongside our clients with a genuine desire to provide support and advice. Clients can take for granted filings will be made on time.
How are we different? We asked one of the partners, David:
“Sunny Accountants are always on hand to provide advice and support. Prompt service, realistic charge for service.”
Karl Watts visited the Dovecote every month for the first couple of years to discuss business, answer any queries, and provide management information on the previous month’s figures.
During the last few years we have advised on:
- Managing cashflow and preparing monthly forecasts
- How to be proactive, rather than reactive
- The different types of VAT schemes and selecting the right one for the client
- The right bookkeeping package and training on how to use it
- Funding options for fixed assets
- The most tax efficient way to run vehicles
- Business plan preparation
- Increasing the number of let bedrooms and the financial impact
- Valuing a business and advising on the acquisition of a business
- Creating an exit strategy
- Personal financial planning for retirement
We still collect paperwork monthly and the partners know that if they ever need any advice, they can ask Karl Watts to visit personally. This is all included in their fixed monthly fee – something we offer to all of our clients.
The business still faces many challenges however turnover is increasing, cashflow has improved, and profitability is better than ever.
We are excited to hear of their future plans to expand their letting business, act as a wedding venue, and get to work on improving that gross profit margin further.
The Dovecote Inn are situated in Laxton, near Newark. Why not book a table today, you are sure of a warm welcome and an excellent meal.