Management accounting for Sports equipment and sportswear company

Management accounting and improving performance

Sports equipment and sportswear company, Ilkeston, Derbyshire

The company had fallen £800k short of profit prediction; they needed to reduce costs and reliance on business angel funding.  We prepared:

  • Budget for marketing by campaign and expected sales.
  • Expenses plan by business area and cost type for monitoring.
  • Income and gross margin model based on proposed pre orders for year one and uplifted for years 2 and 3.

It became evident they could never generate a profit without making changes.  We were happy to advise and provide management information.

Performance improvements:

  • Sales value in Y1 increased by 85% YoY.
  • Gross margin increased by 32%pts.
  • Overheads reduced by 30%.
  • Reduced maximum loan cap from £140k to £20k.
  • Research & Development tax credit of over £25k.
  • On target for Y2.

” We have used Coalesco for over 3 years for management accounting and compliance requirements.  They have delivered on time every time, maintained fees within agreed terms and focused our cost control on areas we had overlooked.  They present clear, understandable information.  We have no hesitation in recommending their services.”

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