Case Study: Plumbing Company

Specialists accountants for plumbers Goringe Accountants helps heating and plumbing company grow and profit, proving it’s possible to thrive during a recession.

Sam Yarnold of Yarnold Heating and Plumbing had held a longstanding ambition to run his own company, but he wasn’t sure where to start. He knew how to be a plumber, but confessed to not knowing how to run a business.

In 2009 he finally took the plunge and started his heating and plumbing business as a sole trader. Sam asked his bank manager to recommend a good accountant, who suggested Goringe Accountants.

Sam felt quite anxious about the accounting side of starting up, but in the initial phone call with Nicky Goringe Larkin he says:

Nicky cleared up so many worries and anxieties about profit, tax and HMRC requirements. I was so impressed with all the information she gave up front before I’d even hired her. It reflected how I try to work — a quick phone conversation can sometimes resolve a plumbing or heating issue without the need to call us out. It’s about trust and building long-term relationships.

Nicky and Patrizia Chessell provide Sam with full accounting services. Giving him regular information and advice, the team makes sure he’s going in the right direction and being as tax efficient as possible.

The Goringe Accountants team was instrumental in Yarnold Heating & Plumbing’s registering for VAT, its transition to limited company, its change to employer status and its consistent year-on-year growth. During this time, Sam has built up a good reputation with a loyal customer base throughout Berkshire and South Oxfordshire.

Sam comments:

Nicky and Patrizia have been with me from the beginning, helping me grow my business even when the economy has been tough. I now realise how much time, effort and ultimately money I’m saving by having Nicky and Patrizia handle things for me. I know I can pop my receipts in an envelope at the end of the month and they’ll take care of it for me. They look after me, by keeping me informed of latest legislation and by gently hassling me to make sure I’m doing everything on time. This gives me peace of mind and allows me the time I need to concentrate on the business.

The relationship between the Goringe Accountants team and Sam is very friendly:

I see them as trusted advisors. I can ask them any questions pretty much any time — and they keep me focussed on profit.

In the future, Goringe Accountants are planning to implement a Cloud-based system for Sam. As well as allowing him to perform some accounting tasks himself, Sam will be able to monitor cash-flow and profit on an ongoing basis, so he won’t have to wait till year-end to discover how the business is doing.

Long term, Sam plans to grow further, employ more people and potentially branch out into other areas like renewable energy and commercial gas works.