Playing our part in the growth of Guy & Co
Creative and research agency Guy & Co moved their accounts preparation business to French Duncan in late 2017, as they were seeking a more in-depth and closer relationship with their accountants. Already a rapidly growing business, Founder and Managing Director David Guy appreciated that to scale the business further would require not just hard work, but a strategic approach and operational efficiency, including a fresh approach to how the finances were handled and performance measured.
What we did
From initial appointment Guy & Co became a fully managed client of French Duncan, with quarterly meetings established to review not just the current financial situation, but performance metrics and key strategic insights to help power growth. We collaborated with Guy & Co to create a remote finance function, we acted as book-keeper, advisor and sounding-board, actively engaged in the management of the business.
French Duncan assisted Guy & Co in getting more out of their finance system, Xero, not only to help aid reporting and end-of-year accounts but also to use further functionality, such as implementing a timesheet system to allow analysis of job efficiency and gross margin.
Guy & Co also outsource payroll responsibility to French Duncan and our HR team have advised the company with the likes of employment contract best practice, staff bonuses, and the provision of HR software.
In addition, French Duncan has also advised David Guy in how best to future-proof the business; ensuring tax compliance, considering dividend payments and pension provision, whilst also implementing insurance policies to help protect the business and family members.
Impact we had
Guy & Co has seen significant growth in the last few years, with staff numbers growing and a 100% increase in turnover. Whilst there is no doubt that this has been due to a great agency team and the distinctive and compelling creative and research proposition of the firm, we like to think we’ve played a small part.
We have ensured Guy & Co have the systems and processes in place to manage their finances and ensure their vital team are motivated and paid on time. We also ensure the company has the most accurate and up-to-date information possible which aids understanding and enables insights to identify areas of future improvement.
As a trusted advisor, French Duncan’s team are also on-hand to support David and the team, whether that be on strategic business decisions, specific tax legislation, or ad-hoc queries.
Recently Guy & Co received a random request for a VAT investigation from HMRC, a process which can take significant time and incur significant costs. Luckily Guy & Co had chosen to take our Tax Investigations Service and as such a large amount of fees were covered, plus our specialist VAT team were on-hand to take control of the process.
Guy & Co are further expanding their group and currently setting up a private equity sister company. French Duncan are guiding Guy & Co-Invest through this process, advising on the structuring of the company and its investments, ensuring it is practical and tax efficient.