The Bristol and Bath offices of chartered accountantcy firm Target are celebrating a combined 20% increase in turnover.
The firm’s results for the year to June also show national turnover rose by 10% to £13.3m, making it the UK's 45th largest accountancy firm.
Target, which recently opened its corporate finance office in Bristol, was established in Bath by local entrepreneur and accountant Mark Harman in 1998. The firm has grown rapidly and now employs 90 staff in Bristol and Bath and 185 nationally. Its string of offices include London, Reading and the Midlands.
Director Andrew Sandiford said: “These results are a real tribute to the hard work and dedication of our teams over the past year.
“In particular, our tax planning team has carried out a record amount of work this year and the move of our corporate finance team to Bristol has also helped to bolster the firm’s presence in the region, leading to some significant new client wins.”
“In particular, we’ve seen increased demand from owner-managed businesses asking for help with issues such as the challenge of raising finance, putting robust financial reporting in place and managing the ever increasing tax burden..
“The plan for next year is to improve on this performance and build on the success of our corporate tax planning and business services teams by strengthening our private client offering and growing our core audit base.
“We will also be looking to further expand our regional footprint through our Bristol office and the continued growth of our teams.”
Meanwhile Target’s corporate finance business has played a key role in securing funding of £2.4m for renewable energy company Ethical Power.
The funding from Downing LLP will finance the installation and maintenance of solar PV panels through the creation of a new joint-venture company.
Cornwall-based Ethical Power advises businesses on how to reduce their carbon footprints and is a specialist provider of solar power.
Founders Tom Kneen and Peter McIntosh were advised on the deal by Target’s Temple Quay-based corporate finance team led by associate director Jim Shaw.
As a result of the deal, Ethical Power is set to install 20 50kW rooftop solar PV systems at sites throughout the South West.
Jim said: “This deal is an exciting step for Ethical Power. It puts them at the forefront of the solar installation market with the right resources to take advantage of future developments in this young, exciting and high growth area.”
Pictured above from left: Dorothy Thorpe, recruitment manager (centre) welcomes some of Target’s new recruits (from left to right): Zoe Cooper (junior finance assistant), Alastair Halcrow (senior analyst, corporate finance), Lauren Wilkins (tax consultant), Elaine McLaren (tax consultant), Martin Strong (assistant manager), and Tara Nash (tax assistant)
