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Why Cascade Holdings Ltd chose Haines Watts

Cascade Holdings Ltd is a leading supplier of lighting solutions, with products on the shelves of department stores, DIY chains and supermarkets up and down the country. Established in 1961, the company is now one of the UK’s largest suppliers of lighting, introducing new concepts and designs from around the world.

After previously working with two big audit firms, the company faced a number of challenges, and the annual audit quickly became a burden. Despite being told they would receive the same level of service as big PLC clients, client service slipped substantially. Late starts, high turnover in staff, difficulty dealing with numerous personnel, and being asked the same questions from different people meant the company was getting little value from its annual audit.

When Suzanne Keating, Financial Director at Cascade, met with Haines Watts, there was an immediate understanding of the personal service that could be provided for the business.

"We decided very last minute to move auditors and transferred all our audit requirements to Haines Watts. We have a number of stock takes undertaken throughout the shops and the head office, and Haines Watts assigned staff at very short notice to make sure they could attend the ones selected.

We all sat around the table together and diarised dates for the first audit. By discussing our systems and how we operated early on, we ensured the transition went smoothly. The audit was conducted professionally and in a very timely manner. As you can imagine, my staff were delighted."

Suzanne Keating

Chief Financial Officer

Cascade Holdings Ltd

During lockdown, Cascade’s stock takes were conducted remotely over video conferencing, and by 3 August the audit team were back on site. “All of the audit team that have attended over the past three years have been a credit to Haines Watts and a pleasure to work with,” Suzanne added.

Haines Watts’ close relationship with Cascade, has provided the company with a joined-up audit and advisory solution. VAT specialists also supported Cascade through the challenges of Brexit by setting up an Irish VAT registration and VAT reporting.

Similarly, Haines Watts helped the company to identify additional streams of cashflow. Having discussed R&D over a number of years with other audit firms and R&D specialists, Cascade believed they were not eligible.

However, Haines Watts’ tax incentives and reliefs specialists demonstrated that there were some projects in which the company would definitely meet the criteria required. Suzanne commented, “This has saved the company on Corporation Tax payable for the last three years now.”

Antony Sassen, Director at Haines Watts added, “Since being engaged by Cascade we have got to know each other’s businesses very well, ensuring our teams have an agile and effective approach working together on the year-end audit, but also staying responsive and empathetic throughout the year to understand what challenges Cascade are facing, and introducing our specialist advisors or business partners such as R&D, VAT, financial planning, to enable them to continue to grow their successful business.”