 |
|
Latest News August 2007Cowgill Holloway NewsCowgill Holloway became a Limited Liability Partnership - Cowgill Holloway LLP - on 1st June 2006. The Limited Liability Partnership (LLP) is now widely recognised by many practices as a more appropriate vehicle for the operation of professional practices. Insolvency This major initiative gives us an opportunity to create significant growth to the Practice over the next few years whilst extending our offering to the SME market. We further believe that a successful insolvency department will push Cowgills into the top 50 UK firms, a target which is now firmly in our sights. Gary Bell (pictured above with Peter Cowgill) is a licensed Insolvency Practitioner and spent some 16 years at Begbies following his move there from the then Latham Crossley and Davies. He has established himself on the Manchester professional scene and we are delighted to have secured his appointment. Wealth ManagementCowgill Holloway has joined forces with the Financial Management Group to launch a bespoke Wealth Management service to clients. Directors of The Financial Management Group UK Limited include Kenny Dalglish and the link up is expected to net high returns for clients. The move means that Cowgill Holloway’s clients have access to experts across all areas of financial planning and wealth management including investments, pensions and trusts. Tax Partner Andy Ball comments: “Clients want the ease of keeping their corporate and personal financial arrangements under one roof reassured in the knowledge that our integrity will be behind this service. This venture will address those needs”. Services now offered to clients include estate and inheritance tax planning, personal and corporate investments, pre and post retirement planning and strategic financial planning. Andy added: “Our consultants will determine our client’s individual aspirations and tailor a route that will create, protect and enhance their wealth. Clients can be safe in the knowledge that our advisors will adopt the Cowgill ethos of great customer services when delivering wealth management strategies”. For more information on our Wealth Management Service, contact Andy Ball (andy.ball@cowgills.co.uk) or Chris Harrington (chris.harrington@ cowgills.co.uk) or telephone 01204 414243 New PartnersMeera Parmar has been made a Partner of the practice. Meera, who qualified with KPMG in London 1990, later moved to the North-West spending four years as a tax senior manager in an independent practice and three years with a Manchester law firm before joining Cowgill Holloway as a Senior Tax Consultant in 2003. She specialises in transaction tax planning and also advises on capital tax planning and wealth management. Paul Stringer and Stuart Stead have been made Partners of the practice. Senior Partner Peter Cowgill said: “Their promotion was in recognition of their substantial commitment and efforts in growing and promoting the practice and servicing its client base”. Paul joined Cowgill Holloway in 2000 from Pricewaterhousecoopers and Stuart joined in 2001. Recent Professional AppointmentsOverseas CompaniesOverseas companies setting up UK subsidiaries are opting to choose Cowgill Holloway for advice and expertise in this growing market, and we have been appointed as auditors and tax advisors to an ever-growing number of companies with “parents” located in the US, Far East and mainland Europe. Typically, under UK statutory financial requirements (and regardless of the filing requirements of the country of the parent company), such UK companies are unable to take advantage of the audit exemption of being a member of a small group and, in that case, the support and guidance of experienced advisors is essential. The significant experience of our audit and tax team ensures the respective management teams achieve all their compliance objectives. If you are a UK or overseas company looking for professional accountancy advice and compliance assistance with regards to your UK subsidiary, please contact Paul Stansfield on 01204 414243 or paul.stansfield@cowgills.co.uk Mancunian Leisure LimitedWe were appointed to advise on the sale of Mantos bar in Manchester by Mancunian Leisure Limited. The bar, which opened in 1990 is one of the most popular bars in Manchester’s gay village has been sold to West Properties for an undisclosed sum. Former owner Peter Dalton, who sold Mantos in order to pursue new business opportunities in the leisure industry said: “! am grateful to the Cowgill Holloway team for being as professional and efficient as ever, and for helping the sale go through without complications”. Audit partner Stuart Stead led the team which provided accountancy and taxation advice throughout the negotiations. Ascot Environmental HoldingsAscot Environmental Holdings – established in 1999 – works throughout the UK and is dedicated to providing cost-effective, high quality environmental solutions across a wide spectrum of construction industry demands in the landfill, contaminated land and civil engineering sectors. Based in Radcliffe, the company also undertakes road sewer work, pipelines, building and demolition. The Vinden PartnershipThe Vinden Partnership was established in 1994 and is a well-respected professional practice providing a range of property based services including quantity surveying, dispute resolution and project management. The company has received a highly commended certificate in recognition of its runner-up place as Business of the Year in the Bolton Evening News and Bury Times Business Awards 2006. Cash GeneratorThe retail experience of Senior Partner Peter Cowgill combined with our local presence and ability to provide a quality service has led to our appointment as advisors to Cash Generator. Based in Walkden, the group with 14 corporate and 80 franchised stores across the UK continues to grow apace, and its Audit and Tax Compliance affairs will be overseen by Peter Cowgill personally, supported by Andy Ball, Stuart Stead and Andrew Cornes. The company provides instant cash through a cheque cashing service, pawnbroking and loan facilities. George Davies SolicitorsThe appointment of George Davies Solicitors as a Cowgill Holloway client has extended our portfolio of legal and professional clients, adding to our increasingly strong professional services team. This well established and highly professional Manchester based law practice was ranked in the 2005 edition of the Legal 500 as top six in respect of both Insolvency and Employment and top three in respect of Sports Law. The firm is a specialist in advising football clubs in administration. The firm became a Limited Liability Partnership – George Davies Solicitors LLP – on May 1, 2007. General WeldingWe have also been appointed auditor of General Welding Supplies (NW) Ltd, one of the country’s largest independent suppliers of welding products with branches in Widnes and the West Midlands. Heritage SomerfieldHeritage Somerfield Group have appointed us as auditors. The Bolton-based organisation is a manufacturer and installer of high quality UPVC windows, doors and conservatories to both trade and domestic markets. PayrollOur Payroll department has continued its expansion with the appointment of Cash Generator (as noted above) and National Union of Student Services as payroll clients. Senior Payroll Manager Wendy Hunter commented on the new client appointments saying: “This takes us to more than 200 payroll clients which speaks volumes for the quality and professionalism of the payroll team. She added: “It would appear that more and more businesses are considering moving their payroll function off site in the interests of accuracy and security“. If you would like more information about the payroll bureau contact Wendy on 01204 414246 or wendy.hunter@cowgills.co.uk Corporate Finance News – 2O07The Corporate Finance team has completed a varied selection of transactions during the quarter ended 31 March 2007.DisposalsPaul Stringer advised Millner Chemist Sundries Limited in the sale of the business to Fernan Sundries Limited for an undisclosed sum. In addition, Peter Cowgill and Charles Cooper advised Columbia Print Limited on the sale of the business to Vista Labels Limited. AcquisitionsVital Services Group Limited is a longstanding client trading in the recruitment sector with a strong acquisition history. Charles Cooper advised the company on its latest acquisition of Ematics Limited for an undisclosed sum. This acquisition will broaden the company’s activities in the design and implementation of data management and control systems. FundraisingPartners Peter Cowgill and Paul Stringer assisted Bridgebank Capital Limited in a funding exercise which involved the allotment of loan notes to a network of high net worth individuals. Bridgebank is a leading provider of short term bridging finance. Corporate Finance News – A Review of 2006The Corporate Finance team completed 18 transactions in 2006. These transactions reflect a wide range of sectors and advisory roles as outlined below:DecemberPaul Stringer advised Woodford Special Projects Limited in respect of the acquisition of Toto Ristorante for an undisclosed sum. Toto’s is an Italian restaurant in Bury which was formerly part of the San Rocco group of restaurants. Peter Cowgill advised the shareholders of Pace Timber Systems Limited in the sale of the group to Kingspan Group PLC for an undisclosed sum. Pace provides a range of timber engineered solutions to the UK construction industry (e.g. timber frame buildings and roof trusses) from its sites in Milton Keynes and Dewsbury, West Yorkshire. NovemberRobin Prestage advised Richard Price, an MBI candidate, in the acquisition of Midas Mechanical Services Limited for an undisclosed sum. Midas is located in Oxford covering the Home Counties region. The company specialises in providing gas central heating installation and maintenance services to the social housing sector. Ian Johnson advised Paul Heathcote in respect of the refinancing of Heathcote Restaurants Limited which involved the buy-out of the existing VC investors for an undisclosed sum. The deal will enable the company to fund the roll-out of the Olive Press chain to locations including Alderley Edge and Clitheroe. OctoberIan Johnson advised Assist Support Services Group Limited in the acquisition of Piccadilly Workforce Limited for an undisclosed sum. Both companies provide temporary labour services to a range of industries and the acquisition will increase the group’s turnover to c.£18m per annum. AugustPartner Paul Stringer and Corporate Finance manager Charles Cooper advised during the sale of two football newspapers “The Non-League” and “The League”. Purchaser Simon Burrell increased his Entertainment and Sports Agency Group with his purchase of the newspapers for an undisclosed sum, and the Bolton team was rounded off by specialist business lawyers Corporateblue who work closely with Cowgill Holloway. (Refer to press release). JuneWe successfully assisted in the disposal of the assets and trade of the commercial and private lines insurance businesses of R J Shawcross Limited to Kerwin Smith and Swinton Insurance. The department advised on the formation of Welch Mill Estates Limited and the subsequent purchase of Bridek Enterprises Limited which manages and lets commercial premises. The total deal value for the quarter was £13.5m. MayThe team successfully acted as brokers on the sale of Bolton telecom firm Britannia Telecom Group Limited on its sale to Essex-based AT Communications, an AIM listed company for £3.84m. AprilThe department successfully raised funding of £2.5m for a property development project for a client in mainland Europe. We successfully advised on the merger of Norman Peplow (Electrical) Limited, a prominent electrical contractor based in Preston to T Jolly Services Limited – one of the North West’s leading heating, ventilating and air conditioning specialists with more than 140 employees. MarchThe team acted as lead advisers to the vendors in the successful sale of Keys Childcare Limited for an undisclosed sum. Keys provides specialist child care services across the North West and has been acquired by Annvale Limited (formerly the Bettercare Group) who are based in Northern Ireland. (Refer to press release) Total deal value for the quarter was £14.6m. FebruaryWe acted as lead advisers to Woodford Group Plc in their acquisition of Clarion Homes Limited for an undisclosed sum. The acquisition was the latest in a number of deals that Cowgill Holloway have completed for this Sunday Times fast track company. Our department also acted for the Elecon Group Limited in the acquisition of Foilcraft (UK) Limited. The business is located in Washington in the North East and manufacture conservatory panels, composite doors and wall cladding. (Refer to press release) We advised on the disposal of AF Worxgroup Limited to GSH Group Plc (an AIM listed company). AF Worxgroup Limited are a facilities management business and have sold to one of the fastest growing facilities management companies in the UK. JanuaryThe team successfully completed the management buyout of Shakespeare Foundry Limited for an undisclosed sum. The foundry which has been established for over 30 years manufactures steel castings for the cement manufacturing industry. (Refer to press release) We also successfully completed the sale of Aquarius Fitted Bedrooms during the month. In 2005, the Corporate Finance team concluded a series of deals which included:
These deals brought Cowgill Holloway’s total deal value in excess of £70m to the end of November 2005. Corporate Finance then rounded off the year with an advisory deal for Metals UK Group Limited in the acquisition of K.K.S. (Stainless Steel) Co Ltd for an undisclosed sum. Tax Solutions NewsAndy Ball and Meera Parmar structured the transaction which saw our client, Travellers Tales (UK) Limited, acquire Giant Interactive Entertainment Limited. This strategic acquisition sees one of the UK’s leading computer games developers now move into the world of videogame publishing. The business is centred on the production of games for Playstation 2 and X-Box consoles targeted at younger children. The combined entity aims to become the World’s No. 1 young gamers publishing company over the next 5 years. Already the group have successfully launched the highly acclaimed Lego Star Wars game, selling in excess of 2.2 million units in the first 6 months. The group was valued at £51million at the time of acquisition. For more information about the companies, please visit their websites at www.t-tales.com and www.giantentertainment.com. Andy Ball was appointed as tax adviser to the shareholders of EBM (Builders Merchants) Limited in connection with the disposal of their shares to Grafton Group (UK) Plc. Cowgill Holloway have been appointed as tax advisers to one of Manchester’s leading legal firms, George Davies Solicitors LLP. Our Tax Solutions team will be providing a range of tax advisory work. Kelly Garside provided tax advice to the management team of V12 Finance Limited in relation to a Management Buy-Out of the company, which was formerly part of the Dabs.com group. Client NewsHearty congratulations to Shakespeare Foundry which was named winner of the International Award in the Bolton Evening News and Bury Times Business Awards 2006. (For further recent news on this company, refer to Press Release) Our client F Parkinson Limited has been named “Small Medium Enterprise Contractor of the Year 2005” by Contract Journal. The Blackpool-based company received numerous compliments from the judges for their specialist work on public buildings - including the recent construction of St Catherine’s School in Horwich. Various accolades included comments that “the company is doing lots of good things”, “high level of client satisfaction” and “a total commitment to partnering”. Heathcote Restaurants Limited – one of Cowgill Holloway’s longest standing clients – continued its expansion with the opening of yet another Olive Press restaurant. Specialising in Continental and Mediterranean cuisine, the fifth outlet is in Nelson Square in Bolton. People NewsBrian CarterBrian Carter, who joined the firm in April 2006, has been appointed Practice Manager with responsibility for all administrative functions. Formerly finance director at Mayfair Artist, he is an Associate of the Chartered Institute of Management Accountants with more than 25 years accountancy experience, and lives in Rossendale. Prior to to taking up his new duties, 45-year-old Brian played an important part in the corporate finance team where he assisted with special project work and forensic cases. Confirming the appointment, managing partner Paul Stansfield said he was confident Brian’s wealth of experience would add a new dimension to all aspects of the company’s administration. Linda WebbLinda has been appointed as a financial controller for the Outsourcing Department. She worked as a group management accountant for the customer solutions and support group board at BAE’s Preston and Farnborough sites for four and a half years. After qualifying as an Associate Chartered Accountant in London in 200, Linda moved to the North West with the National Audit Office working for a wide range of central government clients across the country. Graham FultonGraham Fulton has joined the firm’s general practice as an Accounts Senior. Graham, who hails from Bury specialises in preparing company accounts and holds the Association of Chartered Certified Accountants (ACCA) qualification. Simon HolmesFormer HM Revenue and Customs office Simon Holmes has joined our VAT team from the Borders VAT Services in Peebles, Scotland, as a consultant. The 35-year-old from Hindley specialises in carousel fraud and was previously employed by the Borders VAT Services in Peebles, Scotland. Winston RuddickTwenty-eight-years old Winston Ruddick has joined the wealth management team from the Financial Management Group – the partner firm in Cowgill Holloway FMG Wealth Management joint venture. Winston has worked in the financial service industry since graduating from university and specialises in retirement and investment planning. Terri GreenTerri from Adlington has joined the firm as a marketing manager. The 30-year-old has worked for a number of solicitors and accountants – including four years at PricewaterhouseCoopers, co-ordinates all of the firm’s marketing activities. Sophie ChatwoodAfter completing her A-levels at Westhoughton Sixth Form, Sophie has joined the VAT department as an accounts assistant. She is presently studying for the Association of Accounting Technicians (AAT) NVQ qualification. Long Service AwardsLong-service awards have been presented to the following personnel: Angela Barnes, Sharon Bilsbury, Joanne Bownas, Ann Corrigan, Denise Fort, Sue Gallagher, Jason Garside, Chris Hallworth, Lisa Kershaw, Ann-Marie Kusnyer, Marie Meakin, Joanne Winstanley, Maureen Yildirim. Each recipient – representative of administrative, secretarial and audit staff – has completed 15 years service with the firm. In his speech at the presentations, Peter Cowgill said: “Cowgill Holloway is delighted and proud to recognise the loyalty and commitment which have been hallmarks of the contribution our staff have made, and continue to make, in the continuing growth and success of the firm”. Shaun Chadwick…..On yer bike!Two wheels and 900 miles added up to a fantastic fund-raising effort for Cowgill Holloway accountant Shaun Chadwick. The 35-year-old client audit manager, who hails from Worsley gave up half his annual holiday to raise money for charity by riding from John O’ Groats to Land’s End and his pedalling power proved worthwhile too when Cowgill Holloway colleagues and clients – together with his family and friends - sponsored him for more than £3,000. The money has been donated to St Ann’s Hospice where several of Shaun’s relatives have been cared for, and where his mother has worked for a number of years. Shaun, who took nine days to complete his journey said: “I know all about the fantastic work done at the hospice and felt it was a deserving charity to raise money for. I really want to thank everyone for their generous donations which eventually totalled £3,194.36”. He added: “It was nice, too, to be able to combine that with cycling which I have always enjoyed, even though I have never done anything on this scale before”. After admitting that the journey was every bit as “tyreing” as he had imagined it would be, Shaun is naturally proud of his achievement and all his Cowgill friends think it was a “wheely” good effort.
|
Cowgill Holloway Business Recovery specifically handles business rescue and insolvency matters. Gary Bell formerly a Partner at Begbies Traynor in Manchester heads the unit and Paul Llewellyn also formerly of Begbies is Insolvency Manager.
Printer Friendly Version