A split in the board in 2015 led to the remaining director shareholders buying out their former peers. The price paid was, in retrospect, far higher than it should have been and the resulting strain on the cash flow caused by servicing this level of debt has caused significant issues.
I was recruited to assist initially with stabilising the cash flow, improving lock up and then implementing a long-term growth in profitability. This involved setting up a monthly management reporting system, producing draft year end accounts, recruiting new external accountants who were more able to assist the business.
The recruitment of a full-time financial accountant in late Autumn 2018 enabled me to hand over the financial management of the business.