What We Do

Interim Finance Directors can, and should, add value to a business almost immediately by quickly understanding the business model, structure and systems and delivering improvements and results from the opening days of an assignment.

In most instances, companies can benefit by employing the depth of knowledge, skill sets and wide ranging experience of an Interim FD, in many ways using someone over qualified for a particular project. The proverbial “Sledgehammer to crack a walnut” makes good sense as the desired results can be attained more quickly.

For example, in the situation of a working capital/cash crisis, the Interim FD can stabilise a perilous situation and put a plan in place to assist a company to move away from any nagging “going concern” worries. Using experience previously gained from similar situations, the key accounts within the sales ledger can be targeted and collected while a focus on the Purchase and Sub-Contractor ledgers can ensure legal action and potential CCJs are avoided. If necessary, terms with suppliers can be renegotiated and payment plans agreed with HMRC for PAYE/VAT arrears to keep the business moving forwards towards stability for the benefit of all stakeholders.

In times of MBOs and Company Sales, an Interim Finance Director who has had previous deal experience can help to guide a business in the appointment of advisors, going through the due diligence process and fundraising, through to deal completion and writing up the post deal consolidated numbers (paying particular attention to FRS4/FRS7 and VAT classification on deal costs, Advanced Thin Capitalisation Agreements (ATCA), Form 42 completion and acquisition & fair value accounting).

The Interim FD can work equally well in businesses who have no permanent FD, as well as working in support of an existing FD (i.e. undertaking project work and running the accounts department) often while the existing Finance Director is focusing on top level strategic issues (such as company restructuring, reorganisation and relocation etc).

Using the services of an Interim Finance Director is often the best solution for a Company who’s permanent FD has left the business, allowing continuity and transitional handover to a new permanent Finance Director and, just as importantly, allowing the Board the time required to ensure that they undertake a robust selection process and ultimately make the right appointment for the future.

The duration of an assignment is fluid and mirrors the client’s requirement; an Interim FD works on a week by week basis and can be available for as little or as long as required i.e. from a week, to a month, to six months and beyond, being happy to extend the period of a project if requested, or terminate early if the goals have been accomplished. Furthermore, the client pays the invoiced day rate for specific time undertaken - holidays pay, benefits etc being the responsibility of the Interim FD’s limited company.

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"Paul worked at my client's offices as Interim Finance Director and delivered real value to them at a time when they were experiencing significant business change. He proved to be extremely goal focussed and was able to deliver results beyond those which were expected. I would recommend Paul highly."

Leon Welsh, Recruitment Consultant,
On behalf of client, Star Sportswear Limited