Category: Stock & Inventory Valuations

Time to book those year end stocktakes

Bar stocktaking, Festival & Hospitality stocktaking, Hotel stocktaking, Licensed Trade, news, Pub stocktaking, Restaurant stocktaking, Stock & Inventory Valuations, Year End certificates

Just a gentle reminder… many businesses have their year-ends in December, early April & October and as a result the demand for stocktakes and professional stocktakers around these times is high.

As we are rapidly approaching the end of the first quarter of 2019, where has the time gone, it is really worth contacting your stocktaker to get your appointment booked in urgently for April or in advance for October.

Find out more about our stocktaking services for the licensed trade and hospitality sectors and about Paul Hunt.

Contact us about your stocktaking needs on 07917 176 005.

2018 off to a busy start – stocktaking update from Paul Hunt of Hunt Management Solutions

Bar stocktaking, news, Pub stocktaking, Stock & Inventory Valuations, Year End certificates

A busy stocktaking year ahead

I’m delighted to say that 2018 has got off to a great start with a busy month of stocktakes across the south west of England.

While there has been the usual month end work & monthly stocktakes, January also sees an increase in the quarterly work & year end stocktaking – many clients have the 30th December as their financial year end and so require end of year valuation certificates.

Changing times

While it continues to be a difficult trading time for pubs and the hospitality trade, I’m pleased to have gained two new clients this month.

Also a sign of the times, is that some of our new business has been won from clients whose current stocktaker is retiring.

Continuity of stocktaking service

In a profession that relies upon on expertise built on knowledge and first-hand industry experience, turnover due to retirement is to be expected.

As continuity of stocktaking services is so important to businesses in the licensed trade, Hunt Management Solutions offers a seamless stocktaking transfer service to new clients… so that their management reporting is uninterrupted and consistent.

Please get in touch to find out more.

1st April year end looms & over Easter!

The next big time for stocktakers is the 1st April with the financial year ends.

If you have not booked your end of year stocktaking date, then it time to get it done as soon as possible, particularly as this year it falls over the Easter Weekend.

Please get in touch to find out more about our Year-End services.

Stocktaking tip: spring clean & rotation

Now is  great time to spring clean your stock offering by checking the dates on your stock. Often over the busy Christmas & New Year period stock rotation gets overlooked because it’s such a busy period.

Also have a conversation have with your stocktaker to find out what stock is and is not selling. For example, your stocktaker will be able to give you thoughts on what low selling stock you need to promote to reduce/remove your stock holding.

Stocktaking tip: price increases

While, I don’t wish to finish on a negative… it’s also that time of year that the Breweries start to bring in price increases! So this is a good time to seek advice from your stocktaker on what the impact is going to have on your margins and what adjustments you should be making.

Paul Hunt
Hunt Management Solutions
07917 176 005

 

Are you buying a Bar… get an independent stock valuation

Stock & Inventory Valuations

If you are buying a bar, pub, club or other business in the hospitality sector it’s highly recommended that you get an independent valuation of one of the businesses biggest assets… stock.Buying a bar, pub or club.... get an independent stock valuation

You will be buying the hospitality business, including the liquor and food stock, and so it makes sense to be very clear about the value of the inventory and be sure that it is fair and representative to both parties.

By using an independent stock auditor both parties can be sure of a level playing field, providing peace of mind and reducing stress in what can be a challenging time.

What does a stock valuation cover?

Typically a stock inventory at a change of ownership will show, at cost, the value of stock holding, with the drink being broken down to individual products.

Generally, it is advised that there is no food left to hand over however, if there is some remaining then it is usually advised that a figure is agreed. Find out more.

Both parties will receive a stock valuation figure & report, as well as documentation suitable for both buyer and seller accountants.

Can an independent Auditor work for buyer and seller?

A stocktaker can work for either the buyer or seller but it is often quicker and cheaper for both parties to agree to use the same independent valuer.

A joint valuation audit prevents duplication, ensures consistence and removes the need to compare and contrast 2 different valuations.

How do I choose an independent stock valuer?

When looking for a valuation expert that both parties can trust, it is recommended that you consider the following:

  • Are they a member of ILTSA, the only qualifying body for the Licensed Trade. Member of the Institute means that the stocktaker has passed professional exams and works in accordance with a professional code of practice
  • Experience in stock valuation and in the particular hospitality sector
  • What do their clients say about them and their service

Find out more about stock valuations

Paul Hunt, of Hunt Management Solutions, is a qualified and experienced licensed trade stocktaker covering Wiltshire, Gloucestershire, Bath and the South West of England.

If you require stock valuation services for your pub, bar, restaurant or club please contact us on 07917 176 005.

 

Inventory and Stock Valuations for Financial Year-End

news, Stock & Inventory Valuations, Year End certificates

For many businesses in the UK’s licensed trade, April 5th signifies the beginning of a new tax year and the rush to complete pub, bar and catering business accounts for the year just gone.Year end stock and inventory valuations

An important part of End of Year accounts for any pub, bar, hotel or restaurant is providing your accountant with an accurate valuation of your inventory / stock. After all it is one of your key business assets.

However, whether it’s a liquor, dry bar, wet bar or catering audit, providing the key figures to your accountant isn’t always as simple as just counting what’s left in your cellar or kitchen. And, that is where the services of a stocktaker proves invaluable.

A qualified independent stock auditor can provide an end of year valuation that includes product counts, overall value and even help you to spot discrepancies or issues that need to be addressed.

End of year certification

What’s more, members of the licensed trade stock auditor body (ILTSA) can provide your accountant with an End of Year valuation certificate that is an official & recognised business document for your business.

Missed the year-end, but need a valuation?

If you need a year-end valuation but the year-end has passed it is still possible to get a year-end stock valuation. An experienced and qualified stocktaker can conduct an inventory valuation later in the month and adjust to the year-end date by using your sales & purchasing data.

Wiltshire, Gloucestershire and Bath Inventory/Stock Auditor

Paul Hunt of Hunt Management Solutions is an experienced stocktaker and is a qualified and Accredited member of the Institute of Licensed Trade Stock Auditors.

Based in Wiltshire and servicing businesses in the South West, including Bath and Gloucestershire, Paul can provide end of year inventory certificates for businesses in the hospitality trade.

Find out more about Hunt Management stock and inventory valuations»