iHeat Case Study

7 January 2021|Related :

Following a brain wave by 2 directors already running their own plumbing business (James & Stephen) they decided they needed to take their business digital and enlisted the assistance of Rick who already ran a web development agency.

6 months later – iHeat was born!

Following an initial meeting with the 3 directors Ryans suggested the business utilise Xero software to assist with the accounting needs of the business.  This was swiftly implemented, and Dale (Director at Ryans) worked closely with Rick to implement a system to extract the sales data from their own website directly into Xero, streamlining the business whilst complying with the requirements of making tax digital.

This then enabled live reporting data to be extracted each quarter which Dale presented to the board, highlighting areas for improvement, and monitoring the key financial data required to make informed financial decisions.

Remuneration/profit extraction strategies were set in the initial meeting together with long term advice on holdings companies and potentially looking to purchase trading commercial premises tax efficiently.

Ryans undertake all aspects of work behind the scenes from day to day adhoc advice to payroll and pensions administration to tax planning.

iHeat has gone from strength to strength from a new start up in mid 2019 to a multimillion pound turnover business even advertising on Sky TV!

“We really struggled to find an accountant that could be reactive to our needs and that ‘gets us’.

With Ryan’s we instantly knew we could leave them to do what they do best and we could get back to running our business.

A fresh young dynamic team who really are the best at what they do.

They go beyond the average and have a very proactive approach”

Rick Hope – iHeat Director

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