Listen Up! ‘Paint By Numbers’ has Launched.

Get ahead of the game in business and learn from the accountancy leadership team at ChadStone as we share our business journeys – warts and all – on our new podcast, Paint By Numbers.

The three-man podcast lineup includes Alex, Rob, and Dave, accountancy professionals who have made a name in the Shropshire business community as the modern, no-nonsense accounting team of ChadStone. We’re known for offering you personal and straight-up business advice, minus the fancy suits.

Our podcast covers the many realities of modern business, from jumping in and just getting started with a new business venture, to the various blunders that can arise along the way. We’ll go through all the little twists and turns we’ve seen, and that many other small and mid-size business owners are likely to face.

Paint By Numbers is available on Spotify, Apple Podcasts, Anchor, and other popular podcast platforms. You can check out our first few episodes and subscribe today!

A bunch of accountants hosting a podcast? Really?

Yup.

But we aren’t your average accountants.

In each episode, ChadStone owners Alex and Rob, along with ChadStone manager Dave, crack a few beers and have a chat. We talk about the many ups and downs we’ve had in business, from landing our best clients to getting duped by overpromising marketing teams.

Paint By Numbers is a refreshing look at business and how you can have a bit of fun while making success happen on your own terms.

The podcast will venture beyond day-to-day business management tactics by diving into the little things that make your business stand out and succeed. Though we are numbers guys, Alex, Rob, and Dave have a wide range of experiences and know the importance of building solid relationships and trust with our team members and our clients.

Who should listen to Paint By Numbers?

Paint By Numbers is a podcast for the modern UK entrepreneur.

It’s for the folks who want to succeed in business, but don’t believe in stuffy dress codes or people-pleasing. Oh, and liking beer is a plus.

Alex, Rob, and Dave are based in the UK, but the podcast is helpful for anyone interested in improving their business skills and hearing about realistic situations many business owners will find themselves in. We’ll share our own successes and failures to give the audience an honest look at what it means to be in business today.

Episodes are around 30 minutes long, great to put on during a morning commute or for a walk around the block.

Available on all popular podcast platforms. Listen here.

No obligation and no charge. We may even have a biscuit or two.

Say hello

The Hangar
Hadley Park East
Telford
Shropshire
TF1 6QJ
Phone: 01952 292729
Email: [email protected]

ChadStone’s FREE Business Book Club

Sick of feeling lonely in business? And worst still, when you do succeed, the people around you don’t truly understand.

You need to surround yourself with people on your level. People that have been there, know how it feels and can relate to your situation.

That’s where our Business Book Club comes in… our monthly business Book Club. Open to business owners looking to chat, discuss and debate with like-minded business owners. It’s a safe environment for people to talk about what they’ve read, learn from others’ experience, and get feedback on their own ideas.

For our members it’s like attending a mastermind but without the high price tag – a place where you can be vulnerable without feeling judged or criticised. Somewhere where you can bring your business successes to celebrate, and your failures for everyone else to learn from.

Expect a friendly welcome from our regular readers and plenty of general chat around business. We pride our club on the fact that no question is a silly question and that there will always be someone in the room who has been through it before.

Our club has received incredible feedback from local business owners. Joel Stone, director of Codebreak said, “ChadStone’s Business Book Club is a breath of fresh air. Away from the usual pressures and formalities of formal networking, it feels like once a month I can lean on the experience and advice of other business owners for help. I’ve never come away from a Book Club without having learnt something that I can implement in my business.”

In normal times our Book Club is hosted at a hotel and we provide a free buffet. Everyone gathers at the bar for a drink afterwards too! Unfortunately, we’re not in normal times, so for now, we’re hosting it on Zoom. Many of our attendees still bring a drink, we still have all the chat and debate, and obviously, if time is an issue, Zoom will probably suit you better!

So, join us for the next one. If we’re honest you don’t even have to have read the book. You’ll soon get into the swing of things. We’re always going off on tangents to discuss a specific business example or relate it to the real world.

Click here to book your place. We’ll see you there!

No obligation and no charge. We may even have a biscuit or two.

Say hello

The Hangar
Hadley Park East
Telford
Shropshire
TF1 6QJ
Phone: 01952 292729
Email: [email protected]

Lockdown 3: Support Available to Businesses and Individuals

Updated: 19th January, 2021

Following the third lockdown in England, as well as ongoing restrictions in Wales, we have pulled together the latest information on support from the Government.

Furlough scheme

The Coronavirus Job Retention Scheme has been extended until the end of April 2021. The Government will cover the cost of 80 per cent of the wages of furloughed employees for hours not worked – employers will only be asked to cover NICs and pension contributions.

Further information available here.

SEISS

The Self-Employment Income Support Scheme has been extended until the end of April 2021. The Government is now providing a third SEISS grant, covering 80 per cent of average trading profits between November and January 2021, capped at £7,500 in total. A fourth grant will be introduced to cover February to April.

Further information available here.

One-off grant for businesses in retail, leisure and hospitality

The Treasury has announced the availability of a £4,000 grant for businesses with a rateable value of £15,000 or under, £6,000 for businesses with a rateable value of between £15,000 and £51,000, and £9,000 for businesses with a rateable value of more than £51,000.

Further information available here.

Support for other businesses

In addition to grants worth £4bn, the treasury announced a further £594m has been made available to local councils to assist businesses impacted by the lockdown but not eligible for the new payments.

Loan schemes

The deadline has been extended until the end of March to access the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, and the Coronavirus Large Business Interruption Loan Scheme.

If you have any questions, don’t hesitate to get in touch with us at ChadStone on 01952 292729. We’d be happy to help.

No obligation and no charge. We may even have a biscuit or two.

Say hello

The Hangar
Hadley Park East
Telford
Shropshire
TF1 6QJ
Phone: 01952 292729
Email: [email protected]

2020 – A Year in Review

We’ve never written a year in review before, but it feels like this one needs recording! We imagine most people feel the same. Nothing could have prepared us for 2020….

We promise to avoid mentioning Coronavirus too many times in this review; let’s stick to the positives! However, it would be remiss of us to entirely avoid the subject. Hopefully we’ll never see a year as difficult as this again. To all the individuals and organisations adversely affected by the events of this year, keep going. You’re an inspiration to us all.

January

2020 kicked off with a bang! We knew there was a good chance we’d be moving office and began to plan for that. On top of this, the team completed their 90-day plans. And, as usual, we hosted our networking events; Dinner, Beer and Book Club, Thirsty Thursday, and Young People in Business.

February

Book Club, Young People in Business and Thirsty Thursday all proved a great success. It was fantastic to see our apprentices celebrate #NationalApprenticeshipWeek too.

In February, the Knife Angel came to Telford. An angel sculpture formed of over 100,000 knives seized by police or handed in through local amnesties. The sculpture was created in order to highlight knife crime in the United Kingdom and educate young people about the harmful effect violent behaviour can have on their communities.

We took the decision to sponsor the Knife Angel. A cause very close to our hearts. Sadly, Dave’s wife, Geraldine’s, father was a victim of knife crime. Supporting this cause was hugely important to us.

February also saw a number of Shropshire businesses affected by the flooding of the River Severn. Many were forced to close as national media attention descended on Shropshire. The resilience of some businesses was astounding.

March

March brought Rishi Sunak’s first budget. We reported the news to clients and contacts. Much of the talk was around planning for Coronavirus, but nobody was quite prepared for what was to come.

This month also saw us start a recruitment drive for a new accountant to join our team.

And then it happened… a UK-wide lockdown was announced. Thousands of UK businesses had a couple of days to transform the way they operate and implement remote working. We fielded more enquiries in late March than we could have ever imagined.

April

Sadly, it was no longer safe to hold our Thirsty Thursday and Young People in Business networking events. However, we decided to take Book Club online through Zoom. The first ever Virtual Book Club.

April turned out to be a huge month for us. Almost out of nowhere, after a near two-year wait, we got confirmation that our new office purchase had completed. And to top it off, it was Al’s birthday! We had to pop the Champagne on Zoom, but the thought was there.

May

All systems go! Branding and completely changing the interior of an office space is no easy task. It is even tougher when you’re in lockdown.

With the help of some trusted contacts, relatives and friends we pulled a plan together. Work got under way to transform ‘The Hangar’.

June

The 1st June marked our last official day at Grosvenor House. We hadn’t been there for a while, but we spent the weekend clearing it out. If you remember how warm it was in June, you can probably picture the scene.

At the same time, our external signage went up on The Hangar. We were so pleased to see our brand on our own building.

July

As summer set in we were busy setting up the new office whilst continuing to run operations working from home.

August

Finally, we opened the doors to The Hangar. It was fantastic to realise our vision and show the staff what we’d been working on.

Open plan workspaces, flexible desks, booths, a pool table, an arcade machine, a welcome screen and even a coffee machine where you can start brewing from an app on your phone!

This was a serious change for us. We wanted a space that could be shared by our clients and the business community. We’re determined that when it is safe to do so, that will be the case.

We’d had to pause our recruitment from earlier in the year, but our move meant we could start looking once more. And so, interviews commenced.

September

We were delighted to welcome Hannah Brathwaite to our team as an accounting technician.

It was also lovely to welcome Charlie Arthur Leddington to the world, Dave and Gez’s second child.

October

October saw our first ever international attendee to Virtual Book Club. We’d been lucky enough to have some authors attend from America, but this was our first international guest. Book Club had gone global!

The installation of our totem signage finished off the works to The Hangar too. Anyone driving past couldn’t fail to miss us.

Sadly, we were unable to host our annual charity quiz. Let’s hope for a bigger and better one next year!

November

A second lockdown for England. This meant further protocols at the Hangar and some staff remote working. Again, we found ourselves fielding extra enquiries.

The furlough scheme was extended, SEISS was adjusted and new business support grants announced. November became a busy time.

December

To bring us up to the present day, this December we find ourselves preparing for a different kind of Christmas to the usual ChadStone festivities. We’re working from The Hangar surrounded by screens and hand sanitiser. Hopefully next year it will be less sanitiser and more tinsel!

And there you have it, quite the year. Thanks to our families, staff, clients, suppliers and contacts for all your support during what has proven an incredibly challenging year for everyone.

Wishing you all a Merry Christmas and a happy and peaceful New Year.

Rob, Alex & Dave

No obligation and no charge. We may even have a biscuit or two.

Say hello

The Hangar
Hadley Park East
Telford
Shropshire
TF1 6QJ
Phone: 01952 292729
Email: [email protected]

Knowing the Difference Between Cashflow and Profit

Many businesses get confused between turnover, profit and cash. And worse still, this sort of confusion can lead to mistakes and bad business decisions.

The key difference is easy to outline, but it can be difficult to understand sometimes why you have less (or more) cash than you expect. And it is vital to be able to predict how much cash you’ll have and when (cashflow forecast).

Profit

Profit is an easy one. Turnover (sales) less costs. This indicates how much the company is making in a given period and if that company is in profit or loss.

Cash

Cashflow is different. This is about what cash is coming in (when invoices are paid) and what cash is flowing out (when expenses are paid).

Many companies will do a lot of predicting and budgeting around their profit and loss. However, they’ll forget to factor in their cash position in those predictions.

If you run out of cash and you’re unable to borrow, your business isn’t viable. So, knowing your cash position and how to manage your cashflow is vital. This applies to projects too.

It is all very well planning for a profitable project, but if that project requires a significant amount of cash at the start and you don’t have that cash, it is pointless. Knowing your cashflow allows you to plan and predict more accurately than just looking at profit and loss.

Monitoring Cashflow

The good news is, cashflow is easy to stay on top of. Our clients use online bookkeeping software and all of the leading packages have apps and plugins for cashflow. These applications can look at your historical cashflow and predict your future cashflow. Some of them allow you to input projects and large expenditure too so they can account for those.

Once you’re on top of your cashflow and what you owe and when, you can really start to plan for your business. Whether that be cash required for a new project, an acquisition or asset expenditure, everything is in front of you to be able to make informed decisions.

If you want to talk about your business, book a Discovery Meeting here. We can help you work out what steps you need to put in place to get on top of your cashflow.

No obligation and no charge. We may even have a biscuit or two.

Say hello

The Hangar
Hadley Park East
Telford
Shropshire
TF1 6QJ
Phone: 01952 292729
Email: [email protected]

How ‘Company Culture’ Has Helped Us Build a Better Business

Many businesses and business owners can often overlook the values of their business and the company culture those values help nurture. And worse still, lots of businesses don’t believe in them.

At ChadStone, it is the opposite of that. We’ve built our business around our culture and strict set of values. We even work with our suppliers on that basis.

Our company culture defines who we are as a business. It is the core behind why we do what we do and how we deliver it and every employee is expected to live up to it.

We’ve built our culture around eight core values:

Adventure

Balance

Fun

Gratitude

Celebration

Progressiveness

Self-improvement

Togetherness

We want everybody who’s in this with us, every member of our team, to feel like they’re on an adventure. To enjoy what they do, to have fun, to balance that with home life and work life because we feel like that will then enable us to give the best possible service to our clients.

To create this culture, we involve everyone in the decision making. Every member of the team is welcome to offer their ideas on how we can improve things across the company. From systems, to the work environment to the services we offer.

Celebration is a huge part of it. When things go well, the team are rewarded for it. Not just financially, but with days out, team building and more. We work really hard to ensure everyone is involved in every stage of the business.

The benefit to our clients is our culture nurtures a feeling of togetherness (or collaboration). Getting businesses to seamlessly work together (not just with us) for the benefit of all involved. We’ve found suppliers by looking for companies that match up to our values. By sharing the same outlook and having clients and suppliers that understand our ‘fresh perspective’ we’re able to offer so much more.

Want to know more about our culture and how we’ve done it? We even don’t mind sharing some of the mistakes we’ve made along the way. Give us a call on 01952 292729.

No obligation and no charge. We may even have a biscuit or two.

Say hello

The Hangar
Hadley Park East
Telford 
Shropshire 
TF1 6QJ
Phone: 01952 292729 
Email: [email protected]

A Fresh Perspective on Office Space

An office millions of years in the making… oh no, wait, that was a film and it was about dinosaurs.

An office, years in the planning! And finally, we are in.

We are delighted to have moved into ‘The Hangar’ this month. Our team are all back working together (socially distanced, of course).

‘The Hangar’ is a space our clients and prospects can really benefit from. We’d like to think it is a working environment like no other.

This really is the culmination of the goals of ChadStone and years of hard work. We’ve created a space we’re incredibly proud of and can’t wait for a time when we can share it with you.

So, how does ‘The Hangar’ benefit you?

Breakout space

When allowed, we’d love this to be a space people make use of. As well as our “normal” desks (which are now flexible spaces) we have booths, we’ve got high tables, we’ve got sofas. We can’t wait for a time where a client or prospect can pop in, do thirty minutes work before our meeting and really feel part of the ChadStone community.

Private meeting rooms

You can also make use of our private meeting space. Either for meetings with us, or if you just need somewhere to make a private call or get your head down and blast through your work. Our team are treating it like this too.

Games

Would you prefer a meeting in the meeting room or over a game of darts, pool or Sonic the Hedgehog? Well, at ‘The Hangar’ you have the choice!

Social space

Once the world opens back up again, we can’t wait to host events here. Think our monthly Book Club, Thirsty Thursdays, Young People in Business and more.

Awesome Coffee

And last, but by no means least, if you want a latte macchiato with an extra shot… no problem!

So, there you have it, ‘The Hangar’ is open. We can’t wait to share the space with you, and we appreciate your support whilst we got this over the line.

Thank you for your understanding during these strange times. If you would like to visit, all we ask is that you let us know beforehand.

We can’t wait for a time where we host an awesome office warming party!

No obligation and no charge. We may even have a biscuit or two.

Say hello

The Hangar
Hadley Park East
Telford 
Shropshire 
TF1 6QJ
Phone: 01952 292729 
Email: [email protected]

Cut the VAT Out of Your Diet!

With guidelines relaxing and more industries being allowed to return to work, the government has come up with some measures to get the hospitality industry back on its feet.

The government is doing this through three separate initiatives; a VAT cut, the Eat Out to Help Out Scheme and the Job Retention Bonus. We thought we’d make it easy and explain what these initiatives are, and how they affect you and our economy.

Your VAT bill has been served…

The VAT amount has been cut from 20% down to 5% in the hospitality industry.

This is brilliant for restaurants, especially with the difficulties around cash flow, the reduced number of people going out to eat, and the government guidelines meaning restaurants can’t currently operate at full capacity.

As a customer, you aren’t necessarily benefiting from the reduced pricing in this aspect. It will be up to the restaurant whether they will reflect this in their prices. However, customers will be benefiting from the Eat Out to Help Out Scheme, which will run through August, Monday to Wednesday in the week, and is 50% off meals per head up to £10.00.

Meaning, if you go out as a couple, it’s not just £10.00 off your bill, it is per head, which is great!

So, what’s on the menu?

Going back to the VAT cut, certain restaurants have made changes to their menu, with the main one being Wetherspoons. They have announced they’re releasing a special menu due to the cut and reducing prices on some of their products. This is to help incentivise people to go out, spend a bit of money in the industry, and help the economy out.

To find out what restaurants near you are participating in the scheme, visit the government website here.

Employees get a bite too!

The government has also set-up an incentive to bring back employees. It runs for all sectors and is called the Job Retention Bonus. This will massively help the hospitality industry with bringing back people, and should stop mass redundancy.

What is the Job Retention Bonus? Well, it’s a one-off bonus of £1,000 for each employee that is brought back and employed through until January.

Why January? Well, the government originally said three months after furlough finishes, which is the end of October, making January the end date. The government will pay out the bonuses then.

It’s important to note that this doesn’t apply to just any employee, it’s predominantly full-time employees. The guidelines stipulate that employees must earn above the National Insurance lower earnings limit, which is roughly £520.00 a month. So not just part-time staff, which people might be a little bit confused about.

Bon appetit!

There you have it. These three initiatives are designed to help out the hospitality industry, get everyone back on their feet, get people out there spending again, and help out restaurants who will be struggling.

We think it’s great what the government is doing and we’re excited to support our economy, enjoying a meal out in the process!

If you have any questions about any of these points, or you’d like further clarification, just give us a buzz. That’s what we’re here for, to help you out and keep you informed with what’s going on.

Stay safe, take care and enjoy your dinner!

No obligation and no charge. We may even have a biscuit or two.

Say hello

The Hangar
Hadley Park East
Telford
Shropshire
TF1 6QJ
Phone: 01952 292729
Email: [email protected]

Everything You Need to Know About the New Furlough Updates

The Coronavirus Job Retention Scheme has become Britain’s new conversation starter instead of the weather or the traffic.

Despite not being a rock’n’roll topic, it’s vitally important to businesses. The issue is though, it’s often quite cryptic information to work through and implement.

So we thought we’d break down the new furlough updates for you and make it simple. Your business will be covered and you’ll be the conversationalist champion amongst your friends!

Furlough – Everything you need to know

The furlough scheme will be phased out between now and the end of October. Until August, the scheme will cover the employers NI and workplace pension contributions. The scheme will also continue to pay 80% of a furloughed employee’s regular salary until September.

The full furlough timeline…

July
The flexible furlough scheme starts on the 1st July, rather than the 1st August as previously stated.

This means that employees will be able to return to work on a part-time basis for any amount of time or work pattern, whilst still being eligible to receive the grant for hours not worked. The employer will have to pay 100% of their normal salary on their days worked and the furlough scheme will cover the other days.

To make a claim
The 1st July is the first time you can make claims for July, with the 31st July being the last day you can submit claims for periods ending on or before 30 June.
From the 1st July, only employees that have successfully claimed a previous grant will be eligible for more grants under the scheme, i.e., They were furloughed for at least three consecutive weeks between 1st March and 30th June 2020.

August
The scheme will continue to pay out 80% of the employee’s wages but employers will be expected to pay NIC and pension contributions for furloughed staff.

September
Employers will need to continue paying the NIC and workplace pension amounts, whilst now also paying a 10% contribution to furloughed employees’ wages. The employee will continue to receive 80% of their normal wages up to a capped amount of £2,500 but the amount the government contributes will be 70% of that amount, capped at £2,187.50.

October
Employer’s contributions to wages will rise from 10% to 20%, with the scheme closing at the end of October. Throughout October, a furloughed employee will continue to be entitled to receive 80% of their normal wages, but the Government contribution for this month will be 60% of those wages, capped at £1,875.

We will continue to keep you fully updated of changes that will affect your business, finances and conversation starters!
Take care, stay safe and be sure to follow us across social media for real-time updates.

No obligation and no charge. We may even have a biscuit or two.

Say hello

The Hangar
Hadley Park East
Telford
Shropshire
TF1 6QJ
Phone: 01952 292729
Email: [email protected]

Bounce Back Loans – Everything You Need To Know

There is so much information going around at the moment, it can be hard to keep track of what you need to hear.

Since the start of COVID-19, our goal has been to support you and your business however we can, making this transition as smooth as possible. With announcements now happening more regularly again, we want to ensure that still happens.

So, today’s agenda – Bounce Back Loans. What are they, how can they help your business and what do you need to do? Let’s bounce…

What are bounce back loans?

So, from Monday 4th May, the government announced a new loan scheme called the Coronavirus Bounce Back Loan Scheme.

This is for borrowing between £2,000 and up to 25% of your turnover, to a maximum loan value of £50,000.

The difference between this loan scheme and the Business Interruption Loan Scheme, is that rather than it being 80% backed by the government, it’s 100% backed by the government.

How does this help your business?

Well for starters, this makes it much easier for applicants to receive this loan, and the banks much more willing to lend.

There won’t be any repayments in the first 12 months, or interest charged, and the maximum loan term is six years. So, you won’t pay anything for 12 months and then the remainder of
the loan will be paid off over those remaining five years.

There are no penalties for repaying it early, so if you find that cashflow allows, you can repay it earlier without any penalties.

How to qualify for the bounce back loan scheme?

In order to qualify, you need to be based in the UK, you need to be established before 1st March 2020, and you need to have been adversely impacted by the Coronavirus.

You can’t claim this loan scheme if you’ve already got a loan through the Business Interruption Loan Scheme. However, if the loan is up to £50,000 through the Business Interruption Loan Scheme, you can transfer it to the Bounce Back Loan Scheme, provided this is done by 4th November 2020.

You will need to speak to your bank or lender to have this organised.

How to apply for the scheme?

In order to make the application, certainly with HSBC, it’s an online link through your online banking, and we believe this is the case for most other high-street lenders.

But, if you have any issues, give us a call and we’ll be able to help.

Stay safe, take care and shout if you need us.

No obligation and no charge. We may even have a biscuit or two.

Say hello

Suite 3.12 Grosvenor House
Central Park
Telford 
Shropshire 
TF2 9TW 
Phone: 01952 292729 
Email: [email protected]

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