Examples of past and present engagements:
Example 1 - Annual Budgets
An engineering company that was part of a larger group was required to prepare a detailed budget every year for submission to the group board. They did not have the expertise in house to do this task. Tallowin was engaged for two weeks every year to complete this task for them.
Example 2 - The Full Service
A small company manufacturing components for the building industry was losing money and its accounting system was in a complete mess. Tallowin was engaged for 2 days every week to sort the company out and get it on track. Specific tasks tackled were:
- Getting the accounts system (Sage) sorted out and up to date.
- Prepare an up to date Profit & Loss Account and Balance Sheet with accurate monthly management accounts produced on a timely basis.
- Properly costing each product to determine which were making money and which were losing money, and prepare an action plan to remedy the losses.
- Rationalising product lines, ditching loss making lines and steering the company in the direction of both higher margin products and market sector.
- Adjusting prices and visiting major customers to explain changes.
- Dealing with banks and creditors.
- Re-organising the work force and working practices
- Advising on re-structuring of the company.
Example 3 - Legal, Financial and Marketing
Stepping into an agricultural business where the managing partner had died.
- Dealing with executor/probate issues on behalf of the executors.
- Getting up to speed and dealing with both legal and financial aspects of a trust that the partners were involved in.
- Taking on management of the financial and legal side of the business, prepare monthly management accounts and annual accounts for the different divisions of the business.
- Revising website.
- Laying out new adverts for the local media.
Due to the sudden nature of this engagement, this client required an initial concerted blitz for us to both get up to speed and dealing with the various issues that required immediate attention, this then settled down to a regular 1 day per week.