Project Description

rhyme-and-reason

Rhyme & Reason (R&R) is a London based agency that connects brands to their customers’ purpose.

The company outsourced its finance department to Goringe Accountants, to manage the majority of R&R’s finances from overall management of corporate accounts, VAT returns, payroll and tax returns, budgeting and planning, to bank reconciliation.

Growing the Business

Rhyme & Reason(R&R) is founded by entrepreneur David Hancock, who has previously run three companies with turnovers between £3 – £10 million; a Tokyo Stock Exchange listed digital experience agency, a leading-edge mobile experience business, and a fully integrated creative agency.

David set up R&R in 2019 because most brands fail to define and communicate themselves to their consumers. In a world with 500 million tweets, 4.3 billion Facebook messages and 500 million hours of YouTube footage daily, brands that prosper are those that authentically connect their products and services with their customers.

At the start of building his business, David appointed Goringe Accountants to outsource all its financial needs.

David Hancock, founder of Rhyme & Reason:

Particularly in the early stages of setting up a business, it’s very important to focus expenditure on your revenue generators. You can’t operate and grow a business successfully without a good finance facility but investing in an in-house finance team was an unnecessary overhead and risk for us, especially when we can just as easily outsource at less cost.

By working with Goringe Accountants, R&R get a fully functioning finance department with specialist teams for the same price as hiring one part time employee, giving the agency access to a wider range of accounting skills at less risk, which can be upscaled as the business grows.

The Future

David Hancock, founder of Rhyme & Reason:

We were immediately impressed with the way the Goringe team clearly care about their client’s business. We can rely on Goringe to give us the right advice to get the best from our finances and to help us to grow.

The Goringe team now manage the majority of R&R’s finances from overall management of corporate accounts, VAT returns, payroll and tax returns, budgeting and planning, to bank reconciliation.

Nicky Goringe Larkin, Managing Director, Goringe Accountants:

We love working with David and the Rhyme & Reason team. We’re an extension of the team, acting as their finance department so David is free to focus on growing the business, supported by our financial know-how.