Why you can trust Barking Finance to get results

Barking Finance Ltd is managed by Robert Barker ACMA BSc, a qualified accountant with over 30 years experience providing commercial accounting services within a number of industries including recruitment, recycling, haulage and manufacturing. Robert’s speciality is a commercial approach to providing businesses with useful information for decision making and problem solving, not just reporting historical results.

Among other achievements, Barking Finance developed a cash-flow model for a client to use to manage a very difficult period, ensuring the client stayed within banking covenants. The client later stated that having this system in place, that they could use on a daily basis to manage the cash-flow of the business, meant the difference between staying solvent and going into administration.

We took a £2m turnover client from manual accounting systems to a fully computerised system with the necessary controls and procedures in place for invoicing, cash collection, supplier payments and on-time management information. Having this in place has allowed its Director to focus on growing the business, knowing there is a back office system in place that can easily cope with the expansion and stay in control, turnover is now in excess of £20m.

Barking Finance detailed an activity-based costing analysis of a clients’ haulage business to determine the contribution by individual customers and haulage runs/loads and identify non-contributing runs/loads. We developed a spread-sheet to support the management of the fleet, ensuring dates for six week checks, MOTs, VDU downloads and tacho calibration were immediately visible. We implemented a traffic light system to ensure the required work could be booked in to meet all VOSA requirements.

We have developed fully integrated profit & loss, balance sheet and cash-flow forecast models that allowed a client to secure a funding line with a factoring company, negotiated on behalf of a client with HMRC to secure a time to pay arrangement for arrears on VAT & PAYE, secure a funding line of £5m for asset purchases and built 3 and 5 year financial models to secure early stage venture fund raising.

A client was randomly selected for a full audit by HMRC going back three years – they passed with zero issues raised and a commendation for record keeping.