Industry Sectors

Retail

The retail sector has always been one of the most competitive business environments to operate in, but with the rapid growth of online shopping, direct marketing, telephone sales and overseas competition (especially from mainland Europe), retailers need sound financial advice more than ever and the support of a team of professionals who can help them maintain their market share.

Westbury has considerable experience working with people in the retail sector, and we understand the special requirements – especially the need for real-time, proactive advice on how to maintain and improve their financial position.

We can help you maximise your profitability through improvements in your stock control, purchase re-ordering, and reconciliation procedures, and where appropriate advise on the installation of online systems.

Perhaps the biggest bane of a retailer’s life is the stringent demands of the VAT regime. We can relieve you of a lot of unnecessary time and expense by advising on the most appropriate scheme, and handling your VAT planning and administration.

Whether you are a small shopkeeper or a High Street retailer, a mail order company or an online boutique, our team of experienced professionals is here to help you achieve your business objectives.

Contact Keith Graham: keithg@westbury.co.uk, telephone number: 020 7553 7122

Art

Westbury is proud to count amongst its clients some leading artists and art galleries.

The type of expenses that can be claimed and the way in which profits can be shared, together with VAT and other tax issues means that those in the art world need specialist advice.

For further information, contact Keith Graham: keithg@westbury.co.uk, telephone number: 020 7553 7122

Charities

There are around 180,000 charities in the UK. All of these are subject to the accounting requirements of the Charities Act and some are also limited companies which have to comply with companies legislation. The services we offer to charities include:

Start up advice

  • Assisting with initial concepts
  • Forming your Charity

Business plans

  • Converting ideas into a business plan (Skeleton Business Plan)

Structure

  • Selecting the most appropriate structure

Pre-commencement implementation

  • Reporting, training and control systems
  • Trustees’ responsibilities

Ongoing services

1. Monthly/Quarterly accounting

    • Production of up to date management accounts and specific Key Performance Indicators

2. Annual Accounting and Auditing

  • Production of statutory accounts and audits where require

3. Payroll services

  • Weekly/monthly payroll processing
  • Taxation issues
  • Trading activities, collections, fund-raising
  • VAT

4. Staff Matters

  • Recruitment, interview, induction and training
  • Incentive/ Bonus schemes

5. Specialist management consultancy

    • Increasing donations
    • Beneficiary/user feedback

Our Charity Team

The Charity team at Westbury, both in our capacity as accountants and auditors to charities, and by direct involvement as trustees of various charities, has a wealth of experience over some 20 years and are able to assist charities of all sizes.

Keith Graham, who leads the team, has for many years been involved as Chairman and now Treasurer of The Family Holiday Association, a national charity, and has other charitable involvement. He was one of the first members of the Institute of Chartered Accountants in England and Wales to be awarded the Diploma in Charity Accounting in 2007.

Contact Keith Graham: keithg@westbury.co.uk, telephone number: 020 7553 7122

Legal Profession

Westbury acts for a number of legal practices, for which it not only carries out client audits but also deals with the Partners’ own accounts and tax affairs. The firm has an understanding of the way in which the legal professions operate and this extends to our large number of clients who are barristers, including a number of QCs and some judges.

The Brief

Start up advice

  • Converting ideas into a business plan (Skeleton Business Plan)
  • Setting up accounting systems,computerisation,client accounts,treatment of disbursements, banking arrangements
  • Partnership protection, partnership/members’ agreements,profit sharing structures

Raising finance

  • Consideration of practice funding

Structure

  • Selecting the most appropriate structure be it Partnership or Limited Liability Partnership (LLP)

Office account

  • Monthly/Quarterly accounting – Production of up to date management accounts and specific

Key Performance Indicators

  • Annual Accounting and Auditing – Production of annual accounts and client audits where required -Reports to the Law Society
  • Payroll services – Weekly/monthly payroll processing
  • Operational Services – Client service quality – Cash control systems – Budgets and forecasts
  • Recruitment and Induction – Recruitment, interview, induction and training – Staff motivation
  • Specialist management consultancy – Increasing revenue – Specialist marketing – Pricing – Bonus/incentive schemes

Legal Aid

  • Practice development – Partnership changes; disputes; disposals/acquisitions
  • Strategic advice – Strategic plans;
  • Taxation – Full taxation compliance service
  • PAYE and Investigations – Full service including quantifying and negotiating settlements
  • VAT – VAT advice and assistance with investigations

Contact Keith Graham: keithg@westbury.co.uk, telephone number: 020 7553 7122

Property

Whether owning one’s own home or buying property as part of an investment strategy, most of us come into contact one way or another with the property market. This is even more the case now, as conventional forms of pension saving are perceived to be unsatisfactory. Given the size of even the smallest purchase, the complications of arranging finance, and the enormous raft of tax legislation aimed at property transactions, expert advice is vital.

For many years, Westbury have acted as advisers to developers, investors, dealers and property professionals such as surveyors, architects and agents. In more recent times, we have been asked to help those buying properties within their pension schemes, and clients entering the world of property for the first time through the ‘buy to let’ market.

One of our strongest niches is in the area of service charges, where the firm deals with substantial blocks of flats and offices in conjunction with many leading firms of property managing agents. Whether a multi-let office building in the centre of London or a block of flats in the suburbs, our service charge team will be able to help.

Property Services include:

Structural Advice

We aim to ensure all our clients structure their business ventures in the way that suits their business best. Our services include:

  • Start up advice – Assisting with initial concepts and project appraisal
  • Business planning
  • Raising finance – All types of finance can be sourced including Equity, Venture Capital and Debt
  • Corporate Structure – Selecting the most appropriate vehicle: Sole Trader, Company, Limited Liability Partnership (LLP) or Partnership
  • Tax issues – Corporate, personal and capital gains taxes, Stamp Duty Land Tax, deductions for interest – VAT – Profit extraction – Offshore vehicles – Use of Single Purpose Vehicles (SPVs)

Accounting and Reporting

We offer accounting and reporting options tailored to the needs of our property clients, including:

  • Monthly/Quarterly accounting – Production of up to date management accounts and specific Key Performance Indicators
  • Annual Accounting and Auditing – Production of statutory accounts and audits where required – Flat management Company accounts – Service charge accounts and audits
  • Payroll services – Weekly/monthly payroll processing
  • Cash flow management
  • Regulatory Reports – RICS, RIBA, NAEA

Other services

  • Valuations – Share valuations; minority interests; Share Options; disputes; disposals
  • Strategic advice – Strategic plans; reinvestment plans
  • Taxation – Full taxation compliance service
  • PAYE and Investigations – Full service including quantifying and negotiating settlements
  • Specialist introductions to Solicitors, Architects, Surveyors and Managing Agents

Our Property Team

Most of our team have extensive experience in the property sector. The team is led by Philip Klinger and Keith Graham. For more information, contact Keith Graham: keithg@westbury.co.uk, telephone number: 020 7553 7122

Restaurants & Catering

We offer a wide variety of services to the restaurant and catering industry. Having been involved with restaurants for more than 20 years, we have been able to tailor a full menu of services to meet the needs of restaurants, hotels and other catering businesses.

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Starters

  • Start up advice – Assisting with initial concepts
  • Business Plans – Converting ideas into a business plan (Skeleton Business Plan)
  • Raising finance – Advice on all types of finance including Equity; Venture Capital and Debt
  • Corporate Structure – Selecting the most appropriate trading vehicle
  • Pre-opening implementation – Financial reporting and control systems

Mains

  • Monthly/Quarterly accounting – Production of up to date management accounts and specific Key Performance Indicators
  • Annual Accounting and Auditing – Production of statutory accounts and audits where required
  • Payroll services – Weekly/monthly payroll processing
  • Operational Services – Food cost analysis – Kitchen control – Specialised and tailored spreadsheets for daily control – Cash control systems – Budgets and forecasts
  • Specialist management consultancy – Increasing revenue – Specialist marketing – Customer feedback – Mystery shopping – Pricing – Margin analysis – Wages analysis – Bonus schemes

Desserts

  • Valuations – Share valuations; minority interests; Share Options; Disputes; disposals
  • Strategic advice – Strategic plans; franchising; multiple and roll-out strategies
  • Taxation – Full taxation compliance service
  • PAYE and Investigations – Full service including quantifying and negotiating settlements
  • VAT – VAT advice and assistance with investigations
  • Service charges and Troncs – Advice on alternative methods for dealing with service charges and Troncs
  • Selling your business – Finding a buyer – Valuation and pricing – Structure of the deal – Taxation implications – Negotiations and agreements

Our Restaurant Sector Team

Our team comprises individuals who have extensive experience in the restaurant sector both operationally and as external consultants.

Clients over the years have included:-

Pizza Express; Belgo; Cucina; Schnecker; KFC; French House Dining Room; Sonny’s; Stephen Bull; Singapura; The Wharf; Rowleys; Extra Time; Coffee Arabica; Banners; Ichizen; Boundary Hotel & Restaurant; Lutyens; Gelatorino; Amici Miei; Guys Gastro.

For further information, contact Nicola Pearson: nicolap@westbury.co.uk telephone number 0207 553 7165.