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Moore Stephens celebrates 40 years in business
As Moore Stephens staff, past and present, gathered last week to celebrate 40 years in business in the Peterborough and Stamford areas, they could reflect on many developments of the past and the strength of today's operation.
As Moore Stephens staff, past and present, gathered last week to celebrate 40 years in business in the Peterborough and Stamford areas, they could reflect on many developments of the past and the strength of today's operation.Among the guests were the office's founder, Nicolas Hart, and many of those who were employed there when senior partner Dickon Sandbach began his training.
Dickon said: "although I am a little biased, I think they taught me well and hope they will agree."
Nicolas and Dickon recounted the story of the journey from the early days in Stamford to Rutland House, at Minerva Business Park, Lynch Wood, Peterborough, where the firm has experienced considerable growth. The team is now led by four partners, who are supported by more than 30 staff.
Dickon said: "The office provides a full range of accountancy, tax and advisory services and solutions to businesses, entrepreneurs and individuals and is now a leading provider of accounting and consultancy services in the Peterborough region and in locations around the UK. This year, we launched full corporate finance and business turnaround services with a dedicated director to deliver these important services to our clients and the wider business community."
Through its innovative and partner-led services, the city business successfully preserves and grows the wealth of its clients through its focused approach to working with clients, and also using the specialist services of Moore Stephens Financial Services.
Dickon added: "our local knowledge, together with the considerable expertise of partners and staff is backed up by the breadth of knowledge of our UK and worldwide association, which provides a truly value added service to our wide variety of clients operating in all different sectors."
From a little acorn, an oak tree grows, and this can certainly be said of Moore Stephens.
Nicolas Hart had been in the Lincolnshire partnership of Stephenson Smart, where he had been articled to his father. His interests diverged from those of his partners, so he decided to set up in Stamford, bringing with him fees of 1,500 a year. He was the first qualified accountant to practise in Stamford.
In April 1969, he was to be found fastening his name plate on to 10 Broad Street before going inside to wait for the clients to sign up. In those days, advertising was not permitted, so the only way of obtaining introductions was by getting to know other professionals and businesses in town.
At that stage, he had only one employee, a part-time retired secretary. He was fortunate that the tax system had been overhauled in 1965 with the introduction of taxes such as capital gains tax, development land tax, selective employment tax and corporation tax – many people had need of his expertise.
After a few years he found the pressure of being in practice excessive and put his business up for sale. A Northamptonshire firm, Smith Starmer Spriggs, expressed interest, but only if Nic remained the local partner. Shortly afterwards, the office moved into The Grey House, in Broad Street, which, coincidentally, was the house where his grandparents had lived and where his father had been brought up.
Dickon said: "in 1995, the firm became a full member of Moore Stephens International Ltd network and adopted the firm's new name. That network is now the 11th largest in the UK and internationally.
"We are proud to be part of it as it provides our clients with a 'gateway' to a wealth of international experience and resources." While Moore Stephens was developing its practice in Stamford, Tony Cushing, Ian Allison and Mick Lumsden were building the Peterborough office of CFW & Co. CFW had originated in Stamford, but recognised there was a better business opportunity to be gained in Peterborough, where many of its clients were based.
During the late 1990s, both Dickon and Tony realised that they had to expand their practices in order to be able to offer the breadth of services which the market demanded.
Through a common professional colleague they met, and after a short period, decided to join forces. On September 30, 2001, the merger of the two firms took place with a simultaneous move to a prestigious new office in Alwalton, on the edge of Peterborough, to take advantage of the better opportunities for growth in the city.
Moore Stephens is often called on to advise on specialist areas, one of which is succession planning. The firm has successfully applied its knowledge and skills in this area to its own business as well.
Over the last seven years, three of the senior partners have successfully retired. Consultant Tony Cushing said: "I am pleased with the way the team has taken over working with my clients and the way in which the firm remains committed to its smaller clients as well as its larger businesses and personal tax clients."
In his welcome speech at the 40th anniversary party, Dickon commented that he was "proud of his young and enthusiastic team, although he found it hard to accept that he was one of the oldest. Like most people, I know that I am much younger than my birth certificate tells me."
The business is dependent on the quality and enthusiasm of the team and an important milestone was the achievement of Investors in People status in 2005.
Dickon said: "Mick Lumsden took this project to heart. It shows how the firm values its staff and also how the business has grown through the development of its people."
"Our strategy has been to develop a full range of services," said partner Andy Hancock.
When asked how it was that the business had grown so much, he said: "We listen carefully to clients and put in place strategies to help them achieve their goals.
"For many businesses, the aim is to maximise their wealth. We can help in so many ways – strategy, support and more importantly, by minimising the tax due."
Andy remembers "volunteering" to develop the firm's VAT advisory services.Carolyn Rossiter, the newest partner in the firm, echoes that, as she too, "volunteered". But in her case, to develop her existing interest and become a specialist in corporate taxation.
Dickon said: "the firm is excited about the future despite the current recession, and we are planning to take full advantage of the recovery. We will shortly be making another announcement about an expansion to our team."
Unlike the oak tree analogy, Moore Stephens is not slow growing, but it is strong and dependable.
The company is well established in Peterborough and will continue to develop and prosper.
The company can be contacted at the following details:
Moore Stephens, Rutland House, Minerva Business Park, Lynch Wood Peterborough PE2 6PZ. Call 01733 397300.
Contact partner Dickon Sandbach at dickon.sandbach@moorestephens.com
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