Case Study – Hospitality Accountancy

Our client, whose mission is to give people everything they need to eat brilliantly at home, faced numerous challenges with cash flow and had no clear understanding of the business’s financial status. Despite hiring a Financial Director at considerable expense, the situation did not improve. When they reached out to us, we discovered that their accounts were significantly out of balance and not reconciled with the statements. The owner received no cash flow reports and had to liaise with an overseas bookkeeper, dealing with a constant stream of back-and-forth emails. Additionally, their company account submissions were late, resulting in surcharges from HMRC, and they lacked advice on the most tax-efficient ways to run the business.

Our Solution

During our initial meeting, we identified the most effective way to structure the business between the company and its suppliers. Our client commented, “Knowing that I was able to put Heighten Hospitality in touch with the suppliers and have them structure the business as tax-efficiently as possible with future growth in mind was very important. From Heighten Hospitality, I got a clear idea of my options and the pros and cons of each so that I could make the best decision.”

We took over the company’s monthly payment runs, management accounts, secretarial tasks, registered office, and accounting and taxation duties. This allowed the owner to focus on the business and potential clients, such as private membership clubs. He remarked, “One of the ways I set my business apart from competitors is the time I spend with our chefs and clients, seeing what is most wanted and needed in the market today.”

The Results

With the owner free to concentrate on running the business, he has built an excellent reputation in the industry. The business is experiencing rapid growth due to the referrals he is receiving, and he plans to open six additional sites before the end of this year.

“From the initial meeting to the ongoing support, Heighten Hospitality has exceeded my expectations of what an accountant can do. They took care of all the admin tasks you would expect, provided me with monthly management accounts and cash flow reports, and handled all the monthly payment runs so I no longer need to worry about paying the suppliers on time. Plus, they have done a great job advising me on the most tax-efficient ways to run the business and submitting all my stats to HMRC and Companies House well before the deadlines.”

At Heighten Hospitality, we are passionate about helping our clients by taking away the headaches of bookkeeping, dealing with HMRC, and managing supplier relationships. Our goal is to provide clear financial insights and peace of mind, allowing business owners to focus on what they do best—growing their business and delighting their customers.