Independent business reviews (IBRs)
When a company experiences financial problems, these normally manifest themselves in cash-flow difficulties, which put the company in serious risk of breaching its lending covenants.
An IBR may be commissioned by a stakeholder, such as a bank, who wants visibility on the company’s current financial position, and options in light of its working capital difficulties.
An IBR ordinarily covers the following areas:
- Cash flow, profit and revenue forecasts
- Historical financials and performance
- Assets and liabilities
- Short-to medium term working capital requirements
- Debt servicing ability
- Operational management and capabilities of the management team
The IBR will also examine and comment on the following:
- Viability
- Legislation or market specific threats
- Stakeholder expectations and objectives
- Market and competition
The outcome of the IBR enables the board of directors to make informed decisions about the business and its future direction, as well as allowing our expert advisers to provide advice or assistance in obtaining:
- Refinance or asset/invoice finance
- Obtaining a time-to-pay (TTP) deferral arrangement with HMRC
- Profit improvement
- Debt restructuring
- Exit planning
Dean Nelson, Nicholas Lee, Michael Roome, Brett Barton, Andrew Stevens and Emily Oliver are all licensed in the United Kingdom to act as Insolvency Practitioners by the Institute of Chartered Accountants in England and Wales. Brett Barton is licensed by the Insolvency Practitioners Association to act as an insolvency practitioner. They are bound by the Insolvency Code of Ethics which can be found here.
When acting as Receivers or Administrative Receivers, they act as agents only, without personal liability. In an Administrator role, the affairs, business, and property of the company are managed solely by them.
During appointments, they are Data Controllers of personal data as defined by the Data Protection Act 1998 and the General Data Protection Regulations 2018. PKF Smith Cooper act as Data Processor on their instructions. Personal data is kept secure and processed only for matters relating to the appointments that they take. For further details, see the firm’s Privacy Policy.
