Tag: stock auditor

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.

 

Institute of Licensed Trade Stock Auditors (ILTSA) AGM

ILTSA, Licensed Trade, news

side-logo - Copy (2) Paul Hunt of Hunt Management Solutions is delighted to be attending this years Annual General Meeting of The Institute of Licensed Trade Stock Auditors (ILTSA) being held near Winchester – 13/14th May 2016.

The AGM of ILTSA, the only qualifying body for stocktakers in the Licensed Trade, will be attended by stock auditors from across the UK.

The Institute, which prides itself on setting the professional standards of stock taking, will be meeting over 2 days to discuss a range of issues relevant to members including the continued development and success of the stocktaker training courses.

The AGM will also include an online marketing workshop by Stuart Lanham of Beach Hut Studio who has worked with ILTSA and Hunt Management Solutions on digital marketing.

Paul Hunt, experienced stocktaker and accredited member of ILTSA

Paul Hunt MILSA is an exam qualified member of the Institute of Licensed Trade Stock Auditors (ILTSA). He has also achieved the coveted ILTSA Accreditation status, meaning that his work practices and procedures have been reviewed by an expert panel of the Institute’s stock auditors.

In recent years Paul Hunt has joined the Institute’s Council of Management supporting the development of the professional body, its training courses and the promotion of the stocktaking and auditing trade.

Find out more about Paul Hunt stock taking services»