Case Studies

Edward Stobart

Edward Stobart will always be grateful to the nodding acquaintance he asked to recommend an accountant in Stratford-upon-Avon. The answer was Murphy Salisbury and now the man whose haulage firm became one of the best-known names in British business enjoys an excellent working relationship with partner Steve Smith.

Edward, who retired – theoretically, at least – to Stratford after selling Eddie Stobart Ltd in 2002, explains: “Within minutes of walking into Steve’s office, I felt this was a man I wanted to be talking to. Working with Steve is like employing a top class financial director. I only wish I had met him 20 years ago.”

They first met in 2006 as Edward was setting up horsebox business Stratford Vehicles Limited, “to keep myself out of mischief”. He needed accountants to deal with issues such as payroll and VAT but Steve also advised on more complex matters relating to setting up the business, including shareholdings and directorships.

Edward subsequently mentioned that he wanted to get involved in property and was looking for a suitable commercial site. Steve identified a potential target in Stratford, then handled all the negotiations with the owners as well as introducing Edward to Lloyds TSB in the town. There was a meeting of minds and Lloyds TSB went on to provide finance for the deal.

Edward’s next venture was on a larger scale. He had asked truck body builder Boalloy to produce horseboxes for Stratford Vehicles but when Boalloy went into administration in October 2007, he decided to buy its brand, assets and 13-acre site in Congleton, saving 100 jobs in the process. Now the plant produces 30-40 commercial vehicle bodies a week and there are plans to increase the workforce.

Steve played a key role in making the deal as cost-effective and tax-efficient as possible, advising on issues such as pension schemes and on raising finance, again through Lloyds TSB. During Steve’s negotiations with the landlords for the purchase of the leasehold site, Edward says: “I didn’t take a phone call. Steve kept his cool and negotiated the deal I wanted.”

He also introduced Edward to Leamington solicitors Wright Hassall, who joined the Stobart team of professional advisers. Edward says: “Everyone was on my side – we were like an army going forward.”

Murphy Salisbury continues to support Edward’s businesses on issues including audit, payroll, tax and VAT while Edward knows he can always turn to Steve for advice that is “second to none”.

He says: “You go in with your worries – not necessarily because you don’t know the answer, you just need your thoughts confirming – and Steve treats it as simply something to be sorted. Immediately, it’s less of a problem.

I trust him and with trust you can move mountains. If that chap hadn’t told me about Murphy Salisbury, I would have gone back to my old accountants. I never expected to find an upbeat outfit like Murphy Salisbury but they were exactly what I was looking for.”

To find out more about how our leading firm of accountants in Stratford-upon-Avon and Warwickshire can help you, please contact us.