Care Home Accounting & Advice

Over the years we have advised many operators in the care home sector.

This includes residential care, nursing homes and other specialist care providers.

Like many industries managing cash flow is crucial but even more so in the care home environment. A good solid internal accounting system sets the base for essential reports production and helping with management thereon.

Good procedures are needed to keep track of individual residents/patients especially those with local authority funding.

Finding the right care home business and making an offer is a very time consuming process. Taking up to a year is not uncommon.

Before making an offer you may wish to discuss your options with legal and accounting advisors to ensure that you do not bind yourself to terms which could affect your future plans going forward and that any offer that you make is commercially sound.

At our initial meeting our financial model, designed especially for this sector, can speedily assess the viability of your enterprise or proposed acquisition saving much time and money.

We have also been heavily involved in sales and acquisitions of care homes. We will provide the full due diligence that is required, working alongside your chosen lawyer. We ensure that you are purchasing what you believe you are purchasing. We delve into the operational history and check the accuracy of the figures being portrayed. We also look for potential problem areas to ensure you are aware of the risks and have the ability to fund it through.

Our process will cover:

Adequateness of the accounting system
Is there a good workable operational manual?
What systems are used and compliance issues.
Transactional history and future contracts.
Employees, Employment law and issues arising
Tax history with HMRC and establish warranties required
Profit projections
Existing liability agreements

We also explore the tax efficiency of your proposal and advise accordingly.

If all goes well then there is the “Completion” to supervise

Once the terms are all agreed and contracts are put in place the process can start to complete the deal. It is not just like handing the keys over for a new shop as there are so many variables. A completion Account will be drawn up to reflect the assets and liabilities actually in place on the day. While these issues are often transaction specific it is not uncommon for the contract indicators for a final price adjustment. For example the working capital may be stipulated as being £100,000 when it is only £85,000 on the day.

Through our contacts we can if necessary introduce you to sources of finance for your industry for acquisitions of land, buildings and or any short term assets. These are changing all the time as loan book criteria is changed. There are more sources of finance than conventional banks. We will help you target potential homes.

Contact Us

We are here to help, for further information please call
01709 581667 or email admin@brearleyandco.co.uk

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I would highly recommend Steven at Brearley & Co Accountants. On Steven’s advice we moved to Quickbooks and it was a brilliant decision. He has helped to streamline our accounting so that it now runs much more efficiently. Nothing is ever too much trouble, even if the question is a rather minor one. He is always at the end of the phone or email if any advice is needed and responds to queries very quickly. Steven delivers a friendly, personal and professional service and his knowledge of Quickbooks is second to none. I cannot recommend Steven highly enough; he is an excellent accountant!

PAC Groundworks

Emma Critchlow

Brearley & Co Accountants has been the perfect find for all of our accounting needs and business advice and support. They place customer satisfaction at the top of their agenda and backed up with all of the knowledge you could ever need to know for starting or running a business means any enquiry or concern is swiftly dealt with and the support offered is second to none. As a new business owner I couldn’t recommend Brearley and Co Accountants enough as the perfect support for your new venture or as an alternative with an extremely approachable and professional manner.

Elite Highways

Matt Lindsay - Director

Brearley Accountants have provided Silver Healthcare Ltd with Accounting Services for around 20 years, as well as a trusted advisor, they have provided sound professional advice on numerous occasions. The team headed by Mark Smallman are very proactive and professional, special attention has always been provided regarding general accounting and tax requirements enabling me and the team to concentrate on the running of the business. Top quality accounting with a friendly personal approach.

Silver Healthcare

Roy Young

Yates Drywall have worked with Brearleys since we began trading in 2014. We have found them to be professional and proficient, whilst friendly and helpful. Brearleys have helped us to grow our business and provide us with reassurance that we are complying with regulations. If we have any queries they always come back to us and proactively support us in ensuring our business runs smoothly. I would have no hesitation in recommending Brearleys to others.

Yates Drywall

Helen Yates

Taxation and accounting requirements can be somewhat of a minefield when it comes to running your own business. It is such a relief to know I have Brearley & Co in my corner, taking care of all of my company and personal accounting and taxation affairs, leaving me with much needed time to concentrate on running my business. They always provide an efficient, professional service delivered in an easy to understand and friendly manner.

CBW Professional Services Ltd

Amy Legg