Shorts accountants

Local Energy firm transitions to Employee Ownership

Shorts Chartered Accountants recently teamed up with Knights plc to act as corporate finance, tax advisors and legal representatives as Cost Advice Energy Specialists (Cost Advice) transitioned to an Employee Ownership model.

Established in 1995, and previously owned by brothers Christopher and Stephen Ball, the Company strives to set the benchmark for providing quality advice for commercial energy customers on the best ways for them to purchase and manage their electricity and gas.

Over its history, the business has expanded into a team of professionals who assist businesses across Britain, ranging from small independent retailers to large multi-site organisations.

On completing the transition, Stephen Ball commented: “Chris and I are extremely proud of the company and how it has grown and evolved over the last 26 years, and it is important to us that we protect its legacy and ensure it remains independent.

“Employee ownership provided a way for us to do this; it’s progressive and forward-thinking and provides a way to give back to our loyal and talented workforce who have helped to make Cost Advice what it is today. The company is going from strength-to-strength and now is the perfect time to start our exciting new chapter.”

Speaking about the transition to employee ownership, Shorts Corporate Finance Partner, Andy Ryder said: “We would like to extend our congratulations to Cost Advice and its new employee owners.

“Having discussed various succession planning options with Stephen and Chris, it was clear that the EOT route would best meet their overall objectives.

“Businesses that choose the EOT route build trust and shared responsibility. and we are confident that this will result in a very positive future for the business. We look forward to seeing Cost Advice’s continuing success under their new ownership model.”

Shorts supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

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Shorts hires Lynne Gill as senior VAT manager

Chesterfield Champion, Shorts Chartered Accountants, are delighted to announce the appointment of Lynne Gill as Senior VAT Manager.

An indirect tax specialist with over 35 years’ experience, Lynne joined the Shorts Tax Planning Team at the start of October 2021.

Lynne’s previous roles have included 27 years at HMRC, where she worked as a VAT inspector dealing primarily with small and medium enterprises, before later moving on to large national businesses.

Following her time at HMRC, Lynne worked for a large, independent regional accountancy firm, before working for a company providing specialist VAT advice and VAT compliance services to the healthcare sector.

Scott Burkinshaw, Tax Partner at Shorts, said: “We’re delighted to welcome a highly experienced specialist such as Lynne on board. VAT is a tax that pops up everywhere, often without people realising, so bolstering our VAT advisory capacity is very important to enable us to continue to offer our clients high quality, comprehensive tax advice.”

Speaking about her appointment, Lynne said: “I am delighted to be joining one of the most reputable and ambitious Chartered Accountancy firms in the region, and very excited to be working with such a talented and dedicated team. I’m looking forward to bringing my experience and knowledge of VAT to a tax team which has proved to be highly effective in helping regional businesses reach their goals.”

Shorts is recognised as an award-winning, leading regional firm, using deep knowledge, technology, and expertise to find new ways to make clients’ business better and their personal finances stronger.

This appointment will further strengthen Shorts’ reputation for excellence in tax planning and advice, and will solidify the firm’s position as a regional leader in all things VAT.

Shorts Chartered Accountants supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 180 organisations across Chesterfield and North Derbyshire.

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Chesterfield accountant Shorts leads the way on completing Chase Hardware management buyout

Chesterfield-based accountancy firm Shorts recently teamed up with Bell & Buxton and HSBC UK to act as lead advisors, legal representatives, and funders on the management buy-out of architectural ironmongery and general hardware distributers, Chase Hardware Ltd.

Chase Hardware Ltd was founded in 1978, with their head office based in Uttoxeter. Existing Director James Thomas has now taken full control following the acquisition of 100% of the share capital from the long-term owner Robert Roebuck.

Andy Ryder, Corporate Finance Partner with Shorts comments: “In these challenging times it is fantastic to see that transactions can be successfully completed. Chase is a great business and James has been key to driving that success over recent times. It was therefore a pleasure for myself and Adam Ames to advise James on completing the buy-out and we expect to see the business continue to go from strength to strength.”

Corporate Finance Partner at Bell & Buxton, Alex Ross added “Although funded corporate transactions have been difficult to complete since lockdown began, HSBC clearly bought into the ability of James as a manager and an individual and were very proactive in ensuring this deal was completed on pre-lockdown terms. James’ tenacity in ensuring the deal completed after months of delays should stand the business well in the future.”

James Thomas added “Having been in The Hardware & Ironmongery business for over 20 years and with Chase Hardware for the last 10 years, I am delighted to finally complete the management buy-out and to drive the business forward. We have a young dynamic team that are all excited to modernise the business, work more closely with our customers and firmly re-establish our identity in the market. Although it was a rollercoaster ride to get the deal done during such a difficult time, the company proved to be robust enough to trade successfully during the lockdown period. We reported continued growth and things are now looking even brighter for our future success.”
HSBC were advised by Duncan Shepherd of Wake Smith (legal advice) and Hawsons (financial due diligence), and the vendors were advised by Joanna Dawson of Dawson Radford Solicitors.

With a long-standing heritage of 130 years, Shorts has grown from a local business to a nationally recognised award-winning firm. Shorts supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 180 organisations across Chesterfield and North Derbyshire.

Posted in About Chesterfield, Business, Destination Chesterfield, Home, UncategorisedTagged in , , , , , ,

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