FINANCE
Precision – A Heinzmann engineer checks over a component for a gas turbine .
Teesside base From Heinzmann UK ’ s Teesside base at Skippers Lane in Middlesbrough , the design , manufacture and supply of advanced fuel control systems for new and retrofit turbines supplies the global marketplace .
Baines Jewitt has been at the start of Heinzmann ’ s UK journey from the early days . Yet the chartered accountancy firm ’ s remit has developed substantially over four decades .
Baines Jewitt director Trevor Cook explains : “ Baines Jewitt were initially appointed by Heinzmann to produce annual audited accounts for the company ’ s German head office .
“ Since those early days , our role has grown considerably . We now provide support with annual audited accounts and tax advice , including guidance on various capital investment and R & D projects . On occasion , we have also helped with management accounts and payroll .
“ In addition , we are delighted to have provided support with Heinzmann ’ s aspirations to grow further , such as their acquisition projects in the UK . For example , Heinzmann acquired Regulateurs Europa , based in Colchester , in 2005 and Southampton-based Giro Engineering Holdings , a manufacturer of high-pressure fuel injection pipes , in 2020 .”
External support Heinzmann is quick to acknowledge the role external support has provided in contributing to the firm ’ s success .
Mike Congdon , managing director of Regulateurs Europa and Heinzmann UK , explains : “ Baines Jewitt always provides a meticulous approach to the tasks in hand , as well as providing a practical and pragmatic view on numerous ad hoc situations . We talk regularly and freely to one another and think of Baines Jewitt as a trusted , sometimes critical , adviser , who supports our longterm goals and day-to-day running of our business .
“ Not only does Baines Jewitt provide an excellent litmus test of our financial controls and management systems , but they are readily available for objective and helpful views on all matters of finance . If needed , they also introduce us to very good contacts if the support we need falls outside of their specialist services .”
Addressing challenges In addition , Baines Jewitt has been on hand to help Heinzmann UK negotiate the challenges faced by many businesses in the current economic climate .
“ Rising costs across the board are a challenge and do impact on us . However , we aim to overcome this by increasing our sales output through investment in production facilities , product development and design tools to speed up this process ,” says Mike .
“ We have already seen our after-tax profit rise between 10 and 20 per cent , following increased R & D activity and the introduction of some excellent R & D tax credit consultants .
“ We always strive to become increasingly profitable , using a combination of controlled growth , increased sales , increasingly efficient manufacturing processes and the development and design of improved and competitive products .
“ What ’ s more , we know Baines Jewitt is always on hand to advise us as we take our company forward into the next chapter .”
Baines Jewitt offers expert support to local businesses and local people . If you would like to chat about how Baines Jewitt can help you , call 01642 632032 , email info @ bainesjewitt . co . uk or visit bainesjewitt . co . uk .
The voice of business in the Tees region | 121