The A.Proctor Group Ltd. has appointed a new #finance #director to take over from Paul Roy, who #retires from the role in March. Read more about the #appointment below. #construction #roofing #roofers #contractors #builders
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Working Capital Strategist | Founder of Finance for Business | Call me when the banks say NO.
𝐌𝐞𝐞𝐭 𝐏𝐡𝐢𝐥𝐩, 𝐭𝐡𝐞 𝐏𝐥𝐚𝐬𝐭𝐞𝐫𝐞𝐫 𝐰𝐢𝐭𝐡 𝐚 𝐂𝐚𝐬𝐡 𝐅𝐥𝐨𝐰 𝐂𝐫𝐮𝐧𝐜𝐡 🏗️💰 Philp is a master plasterer, leading a team of 15 skilled workers. They work on large commercial sites, crafting strong and beautiful finishes. Builders love Philp's work, and his team is always busy. However, there was one big issue: his cash flow was as unpredictable as the weather. 🌧️🌤️ Philp would buy all the materials, lead his team to expertly plaster walls, and then wait... and wait for the builders to pay his invoice. Often, this could take up to 45 days! Meanwhile, his bills, materials for the next job, and his team's wages wouldn’t wait. This delayed payment cycle left him stressed and cash-strapped, even with a full schedule. 😟💸 Then, a fellow subcontractor suggested he speak with Martin Cattach, a cash flow strategist who understood the construction industry's unique challenges. Here's how they got Philp's finances back on solid ground and smoothed the cash flow bumps: 🔹 Project Timelines and Progress Payments: Martin reviewed Philp's project timelines and material costs, helping him implement progress payments into his contracts. Now, Philp wasn’t fronting the entire cost of a job. 🔹 Streamlined Invoicing: They revamped Philp's invoicing process. With clear due dates, friendly yet firm reminders, and the option of a small discount for early payment, builders were more motivated to pay on time. 📅💼 🔹 Exploring Funding Options: Martin introduced Philp to funding options tailored for subcontractors, providing a buffer for emergencies and the flexibility to buy materials in bulk when discounts were available. 🛠️💳 𝐓𝐡𝐞 𝐫𝐞𝐬𝐮𝐥𝐭? 𝐀 𝐦𝐮𝐜𝐡 𝐬𝐭𝐞𝐚𝐝𝐢𝐞𝐫 𝐜𝐚𝐬𝐡 𝐟𝐥𝐨𝐰. Money started coming in more predictably. Philp could cover payroll, stock up on supplies, and that constant stress? It began to fade. He's now considering expanding his team and taking on even larger projects. 🚀📈 𝐒𝐨𝐦𝐞𝐭𝐢𝐦𝐞𝐬, 𝐢𝐭’𝐬 𝐧𝐨𝐭 𝐚𝐛𝐨𝐮𝐭 𝐡𝐨𝐰 𝐬𝐦𝐨𝐨𝐭𝐡𝐥𝐲 𝐲𝐨𝐮 𝐩𝐥𝐚𝐬𝐭𝐞𝐫 𝐛𝐮𝐭 𝐡𝐨𝐰 𝐲𝐨𝐮𝐫 𝐢𝐧𝐜𝐨𝐦𝐞 𝐅𝐋𝐎𝐖𝐒. 🌊 If you’re a subcontractor tired of waiting for payments, don’t try to solve the problem alone. A strategist who understands your industry can uncover solutions you might be missing – including funding options to bridge those payment gaps. Ready to build a solid financial foundation? Contact our working capital strategist, 𝐌𝐚𝐫𝐭𝐢𝐧 𝐂𝐚𝐭𝐭𝐚𝐜𝐡, today. #Accounting #BusinessFinance #SmallBusiness #BusinessOwnership #ILOVEWHATIDO #CashFlow #ConstructionIndustry #ACashGapStory #CashFlowChallenges #BusinessSuccess #WorkingCapitalStrategist
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Want to know more about the Construction Industry Scheme? ⚒️ Read out latest blog 🧠 to learn more about how we can support you are your construction business! 💸📰 #contruction #CIS #constructionindustryscheme #accountants #accountancyuk #smallbusiness #business #lancashirebusiness #blackburnwithdarwen #gowandpartners #growingownerswealth
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🔴 Construction firm Corbyn Construction Limited heads for collapse. Corbyn made a £435,000 pre-tax profit from a £32.8m turnover in the year ending 30 June 2023 but has now filed a notice of intention to appoint an administrator. Incorporated in 1989 and based in London, the company operates under the umbrella of parent company, Corbyn Holdings Limited. Over recent years there have been multiple signs of risk throughout the group: 📉 H-Score®: Corbyn Construction Ltd. fell into the Company Watch Warning Area in June 2022, with an H-Score® of 24, significantly trailing an industry average score of 63. The firm's H-Score® has been on a consistent downward trend since 2019. Parent company, Corbyn Holdings Limited, has also been in the Company Watch Warning Area since 2022, with an H-Score® of 24 in its latest June 2023 filing. 📝 TextScore®: The company’s TextScore®, derived from the text contained in its published financial reports, has been deep in the Company Watch Warning Area since 2020 and was a key indicator of future distress. To calculate a company’s TextScore®, the frequencies of particular words & phrases are obtained, and then compared with the words & phrases used in filings of companies that subsequently underwent an insolvency procedure. Our Combined Score is then a weighted combination of the H-Score® and TextScore®. This is far more accurate at predicting financial distress than the TextScore® or H-Score® alone as it combines the two different distinct views of a company’s financial report. We can see that Corbyn’s Combined Score has been deep in our Warning Area for a number of years, sitting at just 8/100 in its latest filing. County Court Judgments (CCJ’s): a CCJ of £2,755, flagged on our platform on the 1st November, was a clear signal of a Corbyn’s inability to meet its financial commitments, raising concerns about its solvency. County Court Judgments frequently serve as a precursor to more severe legal proceedings and are widely recognised as a key indicator of financial distress. In this instance, we can see that a Notice of Intention to Appoint Administrators was then later filed by the firm on the 7th November. Find out more here: https://lnkd.in/eHMkSk5U —-------------------------------------------------------- These risk indicators, when analysed effectively, can provide crucial insights into a company’s health. Understanding financial risks is essential for business success. You need a platform that provides easy-to-understand data and actionable insights. Our powerful platform is designed to identify potential issues before they escalate, so you can avoid loss. ➡ Get in touch today to try Company Watch for free: https://lnkd.in/dmE_Rppq #CorbynConstructionLtd #Construction #Insolvency #RiskManagement
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Assessing risk through one lens can leave you blindsided. 📉 'Combined Score' is highly accurate at predicting financial distress as it combines two different distinct views of a company’s financial report - financial and sentiment. Only available at Company Watch. Find out more below: #Insolvency #RiskManagement #Data
🔴 Construction firm Corbyn Construction Limited heads for collapse. Corbyn made a £435,000 pre-tax profit from a £32.8m turnover in the year ending 30 June 2023 but has now filed a notice of intention to appoint an administrator. Incorporated in 1989 and based in London, the company operates under the umbrella of parent company, Corbyn Holdings Limited. Over recent years there have been multiple signs of risk throughout the group: 📉 H-Score®: Corbyn Construction Ltd. fell into the Company Watch Warning Area in June 2022, with an H-Score® of 24, significantly trailing an industry average score of 63. The firm's H-Score® has been on a consistent downward trend since 2019. Parent company, Corbyn Holdings Limited, has also been in the Company Watch Warning Area since 2022, with an H-Score® of 24 in its latest June 2023 filing. 📝 TextScore®: The company’s TextScore®, derived from the text contained in its published financial reports, has been deep in the Company Watch Warning Area since 2020 and was a key indicator of future distress. To calculate a company’s TextScore®, the frequencies of particular words & phrases are obtained, and then compared with the words & phrases used in filings of companies that subsequently underwent an insolvency procedure. Our Combined Score is then a weighted combination of the H-Score® and TextScore®. This is far more accurate at predicting financial distress than the TextScore® or H-Score® alone as it combines the two different distinct views of a company’s financial report. We can see that Corbyn’s Combined Score has been deep in our Warning Area for a number of years, sitting at just 8/100 in its latest filing. County Court Judgments (CCJ’s): a CCJ of £2,755, flagged on our platform on the 1st November, was a clear signal of a Corbyn’s inability to meet its financial commitments, raising concerns about its solvency. County Court Judgments frequently serve as a precursor to more severe legal proceedings and are widely recognised as a key indicator of financial distress. In this instance, we can see that a Notice of Intention to Appoint Administrators was then later filed by the firm on the 7th November. Find out more here: https://lnkd.in/eHMkSk5U —-------------------------------------------------------- These risk indicators, when analysed effectively, can provide crucial insights into a company’s health. Understanding financial risks is essential for business success. You need a platform that provides easy-to-understand data and actionable insights. Our powerful platform is designed to identify potential issues before they escalate, so you can avoid loss. ➡ Get in touch today to try Company Watch for free: https://lnkd.in/dmE_Rppq #CorbynConstructionLtd #Construction #Insolvency #RiskManagement
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Financial Risk Management, Data, & Analytics | Financial Risk Thought Leader | Fraud, Financial Scoring, Modelling & Portfolio Risk | ex- GB Lacrosse, ex- England Lacrosse, Georgetown University Alumni
👇Further analysis from the most recent filed accounts leading up to the Notice of Intention to Appoint an Administrator: High Dependency on Credit Facilities: The company’s liquidity management relies heavily on trade and intercompany debtors, along with bank borrowing, which could be a vulnerability in economic downturns or if credit conditions tighten. Exposure to Sector Volatility: The construction industry has seen high-profile insolvencies, and although material prices have stabilized, ongoing competitive pricing pressures could affect future profitability. Additionally, underwriters' caution in providing credit within the sector can impact Corbyn's credit management. Significant Operating Expenses: Corbyn has substantial administrative expenses that have impacted net profit margins. In 2022, the company incurred an operating loss due to high expenses, which, while improved in 2023, remains a cost consideration. Debt Obligations: Corbyn has multiple creditors and obligations under finance leases and bank loans, which could pose financial risks if not carefully managed. Although currently manageable, these liabilities could restrict future investment flexibility. Limited Flexibility in Cash Flow: Corbyn’s financial model relies on timely client payments and ongoing support from financial institutions and suppliers. Any disruption in these channels could create liquidity challenges. For detailed financial analysis and comparisons with similar companies that have failed in the past, log into Company Watch's platform to dig deeper #construction #insolvency #riskmanagement
🔴 Construction firm Corbyn Construction Limited heads for collapse. Corbyn made a £435,000 pre-tax profit from a £32.8m turnover in the year ending 30 June 2023 but has now filed a notice of intention to appoint an administrator. Incorporated in 1989 and based in London, the company operates under the umbrella of parent company, Corbyn Holdings Limited. Over recent years there have been multiple signs of risk throughout the group: 📉 H-Score®: Corbyn Construction Ltd. fell into the Company Watch Warning Area in June 2022, with an H-Score® of 24, significantly trailing an industry average score of 63. The firm's H-Score® has been on a consistent downward trend since 2019. Parent company, Corbyn Holdings Limited, has also been in the Company Watch Warning Area since 2022, with an H-Score® of 24 in its latest June 2023 filing. 📝 TextScore®: The company’s TextScore®, derived from the text contained in its published financial reports, has been deep in the Company Watch Warning Area since 2020 and was a key indicator of future distress. To calculate a company’s TextScore®, the frequencies of particular words & phrases are obtained, and then compared with the words & phrases used in filings of companies that subsequently underwent an insolvency procedure. Our Combined Score is then a weighted combination of the H-Score® and TextScore®. This is far more accurate at predicting financial distress than the TextScore® or H-Score® alone as it combines the two different distinct views of a company’s financial report. We can see that Corbyn’s Combined Score has been deep in our Warning Area for a number of years, sitting at just 8/100 in its latest filing. County Court Judgments (CCJ’s): a CCJ of £2,755, flagged on our platform on the 1st November, was a clear signal of a Corbyn’s inability to meet its financial commitments, raising concerns about its solvency. County Court Judgments frequently serve as a precursor to more severe legal proceedings and are widely recognised as a key indicator of financial distress. In this instance, we can see that a Notice of Intention to Appoint Administrators was then later filed by the firm on the 7th November. Find out more here: https://lnkd.in/eHMkSk5U —-------------------------------------------------------- These risk indicators, when analysed effectively, can provide crucial insights into a company’s health. Understanding financial risks is essential for business success. You need a platform that provides easy-to-understand data and actionable insights. Our powerful platform is designed to identify potential issues before they escalate, so you can avoid loss. ➡ Get in touch today to try Company Watch for free: https://lnkd.in/dmE_Rppq #CorbynConstructionLtd #Construction #Insolvency #RiskManagement
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A manufacturing CPA’s knack for numbers. An advisor’s perspective on business. And a teacher’s heart.
Unlock your construction company's potential with bonding! Discover how #construction bonds safeguard your projects and help you scale. Learn the essentials of bid and performance bonds and navigate the process with expert advice from James Moore's seasoned CPAs. #ConstructionBonds
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Audit Senior Manager at James Moore & Co. specializing in Higher Ed, Local Government & Nonprofit Audits/Driving Compliance and Financial Integrity/Passionate about Enhancing Internal Controls and Governance
Unlock your construction company's potential with bonding! Discover how #construction bonds safeguard your projects and help you scale. Learn the essentials of bid and performance bonds and navigate the process with expert advice from James Moore's seasoned CPAs. #ConstructionBonds
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Unlock your construction company's potential with bonding! Discover how #construction bonds safeguard your projects and help you scale. Learn the essentials of bid and performance bonds and navigate the process with expert advice from James Moore's seasoned CPAs. #ConstructionBonds
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Unlock your construction company's potential with bonding! Discover how #construction bonds safeguard your projects and help you scale. Learn the essentials of bid and performance bonds and navigate the process with expert advice from James Moore's seasoned CPAs. #ConstructionBonds
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Unlock your construction company's potential with bonding! Discover how #construction bonds safeguard your projects and help you scale. Learn the essentials of bid and performance bonds and navigate the process with expert advice from James Moore's seasoned CPAs. #ConstructionBonds
