UHY Peninsula case studies - part 2
Every year since 2021, UHY Peninsula has interviewed a selection of clients to showcase some of the great businesses operating across the south west of England. These case studies are divided into four parts. In part two, we feature: Leasing Programmes, The Cornish Cheese Company, Unique Mobility, Geoffrey Harris Tyres Ltd and Frankaborough Farm Holiday Cottages.
If any of these businesses offer a service you could use, why not get in touch with them directly?
And if, after reading these case studies, you spot an opportunity for the UHY Peninsula team to support your business, feel free to reach out - they would be delighted to help.
Andrew Wyeth set up Leasing Programmes over 30 years ago. Initially working from home, Andrew was an equipment finance broker lending money to customers who wanted to buy items such as mobile radios. Using his contacts from his previous career, Andrew soon had multi-national firms such as Motorola and Eriksson as his customers.
The business steadily grew and Andrew and his wife Linda, who is the firm’s finance director, started taking on more staff and moved into larger premises in Wellington, Somerset.
These days their customers cover a wide range of industries including information technology, software, office furniture, manufacturing, engineering and construction. They also get involved with financing educational equipment such as white boards, tablets and design technology equipment.
Organic growth from a first-class personal service
Andrew says the secret to their success has been providing a personal service. They get to know their customers, understand what they are trying to achieve and then help them find the right financing solution.
By providing a first-class service, the company’s reputation soon spread, and the business grew through word of mouth. These days they work with lots of household names, although regardless of who the customer is, they always carry out stringent due diligence to make sure they will be able to service their debts.
Staffing and fraud protection – the biggest challenges
As with many businesses over the years Andrew has found it hard to recruit the right staff. Initially the aim was to recruit experienced finance professionals, however, some of them left and set up in competition to him. To overcome this, Andrew recruited local people with no industry experience. Whilst this took longer to train them, it helped to secure long-term reliable employees who were loyal to the business.
Today, one of the biggest challenges facing the business is the risk of fraud.
As a consequence, there has been a marked increase in compliance admin for all businesses that are regulated by the Financial Conduct Authority. This is one thing Andrew says he won’t miss when he retires!
A new chapter
Over the last couple of years, Andrew has been working on the business's succession and slowly handing over the reins to Beth Atkinson, who is currently the sales director. The plan is for Andrew to fully step away from the business in 3 years’ time. Beth and the rest of the team will continue to operate under the Leasing Programme name and work closely with their customers.
Gearing up for retirement
Andrew was introduced to our team by a mutual contact in Tilney to help him prepare for retirement. He says, “I can whole heartedly recommend the practice. They empathise with our business and have helped immensely with my exit strategy. This has included sorting out the share transfers, reducing tax liabilities where possible and maximising my pension opportunities. For the business they have provided useful and practical business advice, but they also run our monthly payroll and prepare our accounts They were also superb at helping us make the transition from using Sage to QuickBooks.”
Further details about Leasing Programmes can be found at www.leasingprogrammes.co.uk
When Philip and Carol Stansfield moved their dairy herd from Cheshire to Cornwall in 1995, being world champion cheese producers wasn’t on the radar. However, when the price of milk collapsed in 2000, they needed to replace this lost income.
The question was asked, “Which dairy product uses the most milk?” The answer – cheese! They identified a gap in the market to produce a creamy blue cheese. Philip went back to agricultural college to learn how to make cheese and after many attempts to create the perfect flavour, they launched their Cornish Blue cheese in 2001.
Being on top of the world presents new challenges
To help raise the profile and to sell more cheese, Philip and Carol attended lots of shows and entered various food industry awards. The ultimate accolade came in 2010 when their Cornish Blue cheese was crowned World Champion. It was also runner-up in 2011, an unprecedented achievement for any cheese.
However, this massive achievement created a new problem - keeping up with the demand for sales.
Overnight Cornish Blue became hugely popular, and the family was struggling to keep up with demand. In addition to selling the cheese to local wholesalers, it was also sold to supermarkets, delis, cafes and restaurants nationwide. The Stansfield’s made further investments in the dairy and expanded the production facility.
Time (and cheese) waits for no man
The Covid pandemic was nearly catastrophic for the business. Overnight their orders to hospitality businesses and many shops were cancelled. Their storerooms were full of maturing cheeses and those ready to be sold. They had to do something and fast. With the assistance of their son, Ben, they developed their website and online sales. They were able to clear the storeroom and expand their reach to consumers across the UK. Philip retired from farming in 2020 and sold off the dairy herd. However, they continue to source their milk from local farmers.
New lines and further developments
The Cornish Cheese Company now offers ‘Cornish Nanny’, which is made from goats’ milk and more recently has added a ‘Cornish Brie’ to its range. To further expand the new range, the family has invested in building a ‘white’ dairy, so that blue and white cheese production is carried out separately.
Improving their online presence has not only helped the company grow its customer base across the UK but also opened up new overseas markets. They are currently developing their export market to America, Canada, the Middle East and Australia.
Future plans also include doing educational tours so that visitors can see how the cheese is made and how small scale producers are very different to the massive manufacturing cheese production units.
Business support, every step of the way
When discussing our relationship with the family, Ben Stansfield said, “Over the years, we have benefited greatly from the knowledge and expertise provided by the practice. They have been instrumental in helping us to secure funding for our expansions. They put us in touch with the right people and made sure we weren’t paying too much for any finance we secured. The team are always very personable and easy to work with. They know us well and understand our business and have helped us to develop from a farm into the successful enterprise we now have.”
Treat yourself to an award winning cheese, visit www.cornishcheese.co.uk
Ian Bellamy, founder of Unique Mobility, has always had a passion for making people’s lives easier. He previously ran a wet room installation business for elderly and disabled customers, before spotting an opportunity to improve their mobility issues with other products. He launched Unique Mobility in Launceston in 2001, opening the Plymouth branch in 2015 and the workshop facilities in Exeter in 2019.
Positively enhancing people’s mobility
In the early days they sold lots of smaller items such as walking sticks, but the product range has grown over the years and now focuses on larger mobility products.
These products include scooters, powerchairs, and wheelchairs, as well as stair lifts, riser recliner chairs and beds. They also offer a disabled car adaptation service and an array of hoists and stowage solutions.
Their customers include the elderly and disabled, including children, ex-forces personnel and individuals who require short term rehabilitation support. Each of their customers receives 1-2-1 guidance on what products would best suit their needs now and in the future. This customer-centric approach has enabled the business to grow through recommendations and by continuing to help people enhance their mobility over the years.
Turning challenges into opportunities
Like many businesses, Unique Mobility was challenged by the Covid pandemic. However, Ian, together with his Finance Manager, Chris Yerrell, used this time to review the business and the state of their marketplace. The outcome was a major restructuring exercise that saw them focus on the core aspects of the business, whilst maintaining their customer-centric culture.
Another major challenge the company has successfully dealt with is developing a bespoke CRM system. They were operating across three separate databases, which they found extremely inefficient. With the aid of EU funding and a local Cornish CRM developer, they now have one system that integrates with their financial software and produces management reports to assist them in running the business.
The new CRM has dramatically saved admin time and reduced processing errors. With our guidance, Unique Mobility successfully made a Research and Development claim that helped pay for some of the CRM development work.
Future proofing customer support
Ian says that product development and technological advances will have a significant impact on the sector. To ensure their customers have access to the very latest products, Unique Mobility is constantly assessing the marketplace and the new developments which are launched.
By focusing on the larger mobility products, they have created an environment in which they build better relationships with their customers and continue to advise and support them as their mobility needs change over the years.
Help and support over the years
Having worked with our team for 15 years, Ian is full of praise for how we have helped the business. He says, “The team have been fantastic. They are proactive in giving us good, correct advice when we need it. In addition to helping us secure money back from R&D claims, they’ve been instrumental in helping us change to a more dynamic accounts package. The practice has played a pivotal role in helping us be the company we are today.”
To find out more about Unique Mobility and the products they offer, visit www.uniquemobility.co.uk
In 1968, Geoffrey Harris started selling second-hand tyres from his farm on the outskirts of Liskeard. Initially selling tyres to local farmers, the business soon expanded, employing three tyre fitters.
Over the next twenty years, the business continued to grow. Having outgrown the purpose-built shed erected on the farm in the 1970s, Geoffrey, his wife Kathleen and their son Michael moved the business to its current depot on Station Road in Liskeard in 1986.
A reputation for excellent service and quality tyres
During its 55 years, the business has grown through word of mouth and developed a reputation as the go-to tyre company for competitively priced tyres from a reliable local company. The family's ethos of supplying and fitting only quality branded tyres, which they would put on their own vehicles and tractors, has stood them in good stead.
Further growth has continued, and today Geoffrey Harris Tyres employs 15 staff, supplies and fits tyres throughout Devon and Cornwall, and supplies tyres to customers in the Isles of Scilly and Somerset. The business is as committed to helping farming and rural communities today as it was when it was established in the 1960s.
Three generations of succession
Geoffrey and Kathleen established the business and created a successful company with people who shared their values. This legacy continued when Michael joined the business in 1984 and his wife, Jo, began working in the office in 1992. Together, they worked alongside Geoffrey and Kathleen, achieving a seamless transition when the founders retired in 2009.
As well as running the business with Jo, Michael supplies and fits tyres and goes out to meet customers. Jo runs the office and oversees all aspects of the accounts and administration.
The future of the business also looks rosy, as Michael and Jo's son, Tom, will be the third generation to take on the mantle of running it. Tom currently works on the fitting side and is getting more involved with the management role in preparation for taking over the business when his parents retire.
Current and future challenges
Managing cost fluctuations and staff recruitment are two of the biggest challenges the business has faced in recent years and is likely to keep dealing with in the future. As with many companies, Geoffrey Harris Tyres has been affected by rising raw material costs, with some prices increasing by 20-25% in a year.
Hiring staff can also be tricky, particularly on the fitting side, which is physically demanding. However, the company has an excellent reputation for retaining staff, with most of the workforce having been with them for ten years or more and some as long as 20-30 years.
A century of accountancy support
The Harris family, dating back to Geoffrey’s grandparents, have used our practice and our predecessor accountancy firms for over 100 years. Recently, our team has worked closely with Michael and Jo to modernise the systems so that the business runs more smoothly and to assist with the transition to the next generation.
Jo says, “The team have made a huge difference in how we run the business, from Sage software training and automating our accounting processes to sorting the payroll and doing the year-end accounts. They have been very proactive in providing practical tax planning advice and how best to use capital allowances and pension contributions. I have always found them to be very approachable and open to discussing how best to do things.”
To find out more about Geoffrey Harris Tyres Ltd, visit www.liskeardtyres.co.uk
The Frankaborough Farm near Lifton in Devon is very much a family affair. Run by Derek Banbury and his brother Raymond, with Derek’s wife Linda and their son James.
What started out as a herd of 13 dairy cows, run by Derek and Raymond’s father, has now grown to 200 dairy cows and a herd of beef store cattle. Today, they own 400 acres and rent a further 200 acres. Between them they run the dairy herd, rear mostly their own replacement cows, and sell their home-reared bulls for beef.
Converting the past into the future
But there’s more to Frankaborough than just cows. Having worked for most of her life as a district nurse, in 1999, Linda decided to convert one of the old barns into a holiday cottage. Word quickly spread about the wonderful location and Linda’s hospitality, and five years later, the old shippon and dairy buildings were converted to provide more holiday lets.
Over the years further barns have been converted, and additional land and derelict barns were bought which adjoined the property. This latter acquisition has enabled them to install the I-Hut, a large shepherd's hut with a hot tub. There are currently six holiday cottages on the farm, available to book all year round and attracting guests from across the UK and Europe.
The whole family are happy to help when required. This includes Derek and Linda’s daughters, Claire and Lucy, who provide guests with beauty treatments or babysitting services and Katie, who helps out with milking. Granddaughter Charlotte loves to lend a hand, and James’s fiancée, Hannah, gets involved as well.
Holiday cottage guests benefit from the Banbury's willingness to use the farm as an educational resource. Guests can watch the calves being fed and the cows being milked, and will get an understanding of the many jobs that need to be done seven days a week to make sure the farm works effectively and safely.
Investing for success
While the holiday cottage business has seen significant investment over the years, the farm also continues to invest in its future. A new milking parlour was installed in 2009, allowing them to increase their herd number and milk the cows more efficiently.
In 2022, solar panels and storage batteries were installed, which has helped reduce the farm’s electricity bills substantially.
However, like many dairy farms, the prospect of future investment is always based on the price they can secure for their milk, which has fluctuated significantly over the years. This can create significant issues when planning and investing in new machinery and equipment. However, the family works together to agree on what can be done and when.
What’s next for Frankaborough?
The future of the farm and holiday cottages is in safe hands, with the next generation already taking on more responsibility. There are plans to convert one more agricultural building into a house and, subject to fluctuating milk prices, to erect a cubicle shed for the cows and extend their slurry storage facilities.
Providing day to day and long term support
The family works closely with us, and we help them stay on top of the routine accounts, tax and VAT aspects of both businesses. James Banbury says, “Their advice has been great with our diversification plans. They have recommended how best to reinvest in both the farm and holiday cottage businesses and how to manage our cash flow throughout the year. The practice has helped us minimise our tax bills over the years, including developing plans to mitigate future inheritance tax liabilities. It is great to have them on our side.”
To find out more about Frankaborough Farm Holiday Cottages, visit www.devonfarmcottage.co.uk
Discover more client success stories
in our UHY Peninsula case studies.
The businesses featured on this page reflect the diverse range of clients we support and the many ways we help them achieve their goals.
Read more about our services and find our contact details on our Launceston page.
