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Supporting Founders Factory on its growth mission

—— Accounting for growth

As a business incubator, Founders Factory was created with the mission to launch 200+ technology businesses within 5 years. At Chariot House we worked with Founders Factory from the earliest days when, as a start-up itself, it faced the early growth challenge of ensuring it had the right financial reporting systems in place to manage the rapid expansion needed to fulfill its mission. From the outset, the management team recognised the need for regular, accurate financial insights to guide decisions and provide a firm basis for supporting the many companies that it backs.

 

Building the right reporting structure

Chariot House set up, and now runs, Founders Factory’s accounting systems. We developed a monthly management pack for the business for which we produce regular reports to ensure the management team has accurate and timely financial information. We also assisted the company in preparing due diligence packs for the significant inward investment required to fund the chosen start-up businesses. Now that Founders Factory is investing in many incubator businesses, we are helping some of those companies deal with their accounting, tax and management reporting, payroll and auto enrolment issues.

Growing for it

Since its start in 2015, Founders Factory has already launched a series of start ups covering a wide array of business areas from travel, media, artificial intelligence, hospitality and fitness. Chariot House staff liaise across the whole group between operations, legal and executive, as well as with the CEO’s and staff of the incubatees.

How can we help you?

Planning for and managing growth is a definitive challenge for businesses. At Chariot House we believe growth management is always made easier by having the right financial information presented, in the right way, at the right time. Call Mark on 0203 285 8900 for a confidential, no-obligation discussion on planning and managing your growth.

Helping Surge Financial realise its potential

—— Don’t just grow, improve

Surge Financial, a digital marketing company, found itself doubling in income every month. Like many a success, this had not happened overnight, its founder had spent many years developing a product and technique that had started to work with great effect. But growth can be a challenge to control and the company soon realised it needed better information if it was to turn growth into real and sustainable success.

Controlling success

On taking over Surge’s accounting, Chariot House set up a completely new accounting and reporting system and entered the previous nine months of records in double-quick time. This gave Surge’s management team reports it could rely on and plan from. This process uncovered a series of problems with VAT calculations which had previously been hidden from the management. Chariot House liaised with HMRC to resolve these issues without penalties being incurred.

Making cash flow

Surge’s rapid success had made it impossible to manage cash flow effectively and increased billings were leading to ever-greater cash flow challenges rather than to financial solidity. Surge worked with Chariot House to transform its cash management and ensure that success boosted stability. Chariot House now sits in key board meetings to help Surge manage the success it is so good at generating.

How can we help you?

Success can lead to the biggest challenges of all. At Chariot House we help our clients get the rewards of success by ensuring strong financial reporting and controls. Call Mark on 01273 447040 for a confidential, no-obligation discussion on improving your business.

Helping Brighton Fringe reach new heights

—— Making the most of independence

After emerging from the umbrella of the Brighton Festival, Brighton Fringe recognised that it needed finance systems that would help it thrive as an independent organization. It also required support in navigating the complex financial reporting associated with the regulation of charities. It brought in Chariot House to help with these challenges.

Systems that support growth

From the start, Chariot House established robust yet flexible finance reporting systems which enabled Brighton Fringe to keep control during what proved to be a period of record growth. These systems meant the management could remain focused on creating and controlling success, without the need for constant changes in the way it operated from a business and finance perspective.

Realising the benefits

Brighton Fringe has now grown to be the second largest fringe festival in the world. It supports almost 1000 events across 170 venues, all in just one month. Julian Caddy, director of Brighton Fringe summarises the benefits of the relationship: “Chariot House supports us with a monthly guiding hand which means we can spend more of our precious resources doing what we do best – creating a hugely successful fringe festival. And as importantly our trustees can be confident that the financial reporting is correct. If there are technical issues such as Gift Aid, VAT, or Foreign Entertainer Tax we know that we can rely on Chariot House to give us the right advice.”

How can we help you?

At Chariot House we recognise that each charity faces its own individual set of challenges in managing finances to best support its purpose. We are always happy to listen to charities’ needs and suggest how financial management and reporting might be enhanced. Call John Thacker on 012743 447040 for a confidential, no-obligation discussion.