Project Description

8 Northumberland is an Event and Catering Company based in central London. It was a start up Company redeveloping an existing building used by the MOD which needed to raise funds, develop sales, implement an accounts system, set up the Board and establish reporting to shareholders.

The Solution

  • Complete fund raising, shareholder agreements and ensure EIS relief available.
  • Update the business plan and split out the profit centres to focus on profitability.
  • Set up accounts and event system to manage and report on the business.
  • Provide commercial and project support eg rent renegotiations.
  • Attend board meetings, develop management reporting, budget and forecasting.
  • Align innovation and strategy with the business plan.

The Results

  • Funding completed using available tax relief.
  • Focused on departmental performance, incremental changes and improved profitability.
  • Developed financial budget, forecast and ensured best practice.
  • Attended board meetings and reported to shareholders allowing management to focus on growth.
  • Company on track to do sales of £4m plus this year and financial returns improving despite the market conditions.
“Ascent FD have helped from the start, from shareholder agreements, to budgets, management accounts and reporting to shareholders. They have a deep understanding of our business and have been invaluable in formulating strategy. I would not hesitate to recommend them.”
Charles Boyd, MD, 8 Northumberland