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Compass ‘Quiz Night’ raises £2k for Children’s Charity

125 people attend from 12 different organisations to raise money for LUPS at Portsmouth FC

We are very proud to announce that our second annual Quiz Night was a huge success. The quiz and dinner raised a total of £2,000.00 for the Fareham based charity LUPS (Let Us Play Scheme).

It was a fantastic evening with many of our colleagues, partners and clients attending. LUPS, the charity that enables children with disabilities to reach their potential in interactive play environments, received the proceeds from the evening.

The Quiz took place at Portsmouth Football Club, and guests enjoyed a dinner, various games and a raffle.  A total of 125 people from 12 different organisations played in 19 different teams of six players. It was Copyrite that were announced as winners at the end of the evening!

We would like to offer a big thanks to all the other teams that attended including, Matrix IT Solutions Limited, JPC Property Services Limited, Glanvilles, Portland Business and Financial Solutions, Stokes Solicitors, The Children’s Legal Practice, Hants Wight Searches, Hampshire Hackers and QCA -Quality Covers All.

Stuart Lawrance, Director of Compass Accountants said, “We are delighted that the quiz has been such a success. Everyone who has attended has generously contributed to a very worthy cause. LUPS are an important local charity that not only provides a wonderful service to children with disabilities- it also provides families with very much needed short breaks.”

Compass Team celebrate with a weekend away in London

This August the Compass Team were treated to a no-expenses spared, five-star weekend away in London to say ‘thanks’ for all their recent hard work.

The Directors hired a ‘party bus’ to take the team from the office to London, driving directly to the luxurious rooms of The Shangri-La Hotel in The Shard, where all 16 staff members stayed.

The team then celebrated with drinks and a private dining experience in the hotel and then, the following day, they took in the sights, enjoyed a river cruise on the Thames and visited some of London’s most famous landmarks.

Director Stuart Lawrance also marked the occasion by celebrating his 30th year with Compass. Having begun working at Compass Accountants as a trainee accountant at the age of 18, Stuart is now a director of the organisation, which he co-owns with wife, Kerry.

Stuart said, “This trip has been a celebration of all the hard work and dedication of every member of the Compass team given over many years, and this is our way of thanking everyone for their loyalty and commitment to the company.”

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Are you benefiting from the FREE Compass App?

If you haven’t already downloaded the free Compass App, you may be missing out on easy access to all the accounting data you need.

It’s easily downloadable, available on most mobile devices and can be found on our website, or on iTunes or Google Play.

Once downloaded on to your device, you’ll have easy access to useful features including tax tables, calculators, GPS mileage trackers, photo receipt managers, finance news, notifications, messaging tools and lots more.

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Our client, Sarah Sayers (a Financial Controller at Clemtech), has been using the app and has said:

 “After downloading the Compass App on my iPhone, I have found it very useful especially for checking tax brackets and using the mortgage calculators. In fact, it has actually helped me to decide how much we need to borrow to buy our new home!”

“I find having access to this information very convenient and helpful, and recommend the app to any smart phone users who need financial information at the press of a button.”

Why not try the App today, it is free, easy to download and will help you with all of your financial needs - don’t hesitate- and download yours:

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Fleet Air Arm Museum

Visiting Fleet Air Arm Museum - Linda’s trip down memory lane

Last month, we sent Compass Accounts’ team member, Linda Hopwood - (formally a Wren) to visit a client, at Fleet Air Arm Museum (FAAM) at Yeovilton. Here she describes how she is reunited with a familiar friend on her trip down memory lane:

“In my previous life (BC – before children) I was fortunate enough to serve as a Wren Air Engineering Mechanic (Mechanical) in the Royal Navy.  I was based at Royal Naval Air Station (RNAS) Yeovilton on 899 Naval Air Squadron (NAS) working on Sea Harriers. At that time women did not serve at sea, so the wrens on 899 NAS tended to work on the two seater training aircraft, locally known as T-Birds. The aircraft I looked after was ZB604 – Zebedee (he was already named when I took over).

Fast forward a few years and I am part of the audit team responsible for National Museum of the Royal Navy (MNRN) and Stuart asks for volunteers to visit the Fleet Air Arm Museum (FAAM) at Yeovilton. As I drive down the A303 for RNAS Yeovilton and reach the summit of Camel Hill I view my spiritual home for the first time in years. I am met by Marc Farrance and his team and am very excited to view their collection of beautiful aircraft. Dave Morris then escorts me to Cobham Hall where 30 more aircraft are cared for as there just isn’t the room to display all the aircraft in the museum. There, to one side of the hangar in all his glory is my Zebedee and we are once again reunited.  It is a very emotional moment.  Both of us have altered a little over the time and are showing signs of age, although Zebedee is sporting a new beautiful black coat (of paint). Dave tells me that Zebedee’s fate was nearly very different.  He spent 3 years outside the hangar collecting rust and dust until the FAAM asked to adopt him to complete their set of Harriers. 

Huge thanks must go to Marc, Nicky, Bob, Barbara and especially Dave for their time indulging me in my trip down memory lane.”

Linda Hopwood, Member of the Compass Accountants Team.

Enable Me Raises £2,350 at its Charity Golf Day

Enable Me Raises £2,350 at its Charity Golf Day

Compass Accountants’ client Enable Me recently hosted a fundraising event raising over £2,350 at its Golf Day in Littlehampton Golf Club. Compass Accountants were delighted to be co-sponsors of the golf day together with Active Pump Services of Arundel.    

The event, now in its third year, saw a record number of 42 players compete in teams of four, playing for several prizes including nearest to the pin, longest drive and best score of the day.

The teams played an enjoyable but challenging round - courtesy of a blustery north wind - but it was the Compass team that were crowned winners of the overall event!

Compass’ Jeff Walton who led the team, said, “We at Compass have long been advocates of Enable Me and always strive to fully support its cause. Today has been an excellent and fun day, and I’m delighted that it has been such a success for Enable Me.”

Compass was pleased to have had support from friends and clients including TS Tyre Repairs of Fareham, Kraft Recruitment of Portsmouth and Holmes & Quinn of Titchfield playing as The Royals.

Due to the popularity of the event Enable Me is hoping to make the date bi-annual in order to raise more funds and to accommodate the players that were unable to book a place on the day.

It is likely the next Golf Day will be on a different course, with rumours of it being closer to Compass’ offices in Hampshire- (keep an eye on the Compass Newsletter for further updates if you are interested in playing).

About Enable Me

Enable Me is a unique user led disability awareness charity, meaning every employee and volunteer working for the charity has a disability themselves. The charity specialises in providing disability awareness training for businesses, schools, universities and for children of all ages.

The charity helps to demonstrate the needs, challenges and unique life experiences of disabled people in a variety of environments.

Having most recently extended its offering to businesses, Enable Me now offers training for organisations of all sizes based around etiquette, communication, correct use of language, and inclusive behaviour, as well as legislation and adapting the business environment.

www.enablemeproject.org.uk

Sam ready for the bike ride

Compass Client to Cycle 100km for charity

Sam Morrison – the Director of Portchester Engineering- is saddling up for a 100 km (62 mile) cycle ride to raise money for Women V Cancer.

After being diagnosed with stage 3 breast cancer in October 2015, Sam underwent surgery and also had a course of chemotherapy and radiotherapy. Now fully on the road to recovery, Sam will be taking to the road with two friends, and participating with thousands of other women in the ‘Ride the Night’ cycle challenge.

Taking place 27th May, the ride follows a fantastic night-time route starting and finishing at Royal Windsor Racecourse and cycling past iconic London landmarks such as Buckingham Palace and The London Eye.

Women V Cancer is a special fundraising partnership between Breast Cancer Care, Ovarian Cancer Action and Jo’s Cervical Cancer Trust. The cycle rides have previously raised over £7 million for the three charities.

All donations for Sam’s cycle through the night are very much appreciated and will be gratefully received.

Sam’s JustGiving page can be found here: https://www.justgiving.com/fundraising/Sammorrison74

Best of luck from everyone at Compass Sam!

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Compass welcomes Stacey’s new arrival!

We are delighted to announce that Compass’ very own, Stacey Leggatt has given birth to a beautiful baby girl!

Emilia Ivy Julie Leggett was born on Wednesday 15th March and weighed in at 6lb 15oz.

On behalf of the entire Compass team - congratulations to Stacey and Damien, we wish you a lifetime of joy and happiness as a new family!

Compass welcomes new client- Enable Me

Compass Accountants is delighted to welcome its newest client, Enable Me- a disability awareness charity based in Littlehampton.

Enable Me is unique in that it is a user led disability awareness charity, meaning every employee and volunteer working for the charity has a disability themselves. The charity specialises in providing disability awareness training for businesses, schools, universities and for children of all ages.

The charity helps to demonstrate the needs, challenges and unique life experiences of disabled people in a variety of environments.

Having most recently extended its offering to businesses, Enable Me now offers training for organisations of all sizes based around etiquette, communication, correct use of language, and inclusive behaviour, as well as legislation and adapting the business environment.

Most recently, Enable Me has been working with businesses in the hospitality sector, helping them to improve their customer service, but is currently working with Coutts Bank, helping them to further promote inclusivity in the workplace.

Compass and Enable Me already have a good relationship, following Compass’ efforts to help the charity raise funds in various ways, including the donations generated at the 2016 Compass Quiz Night.

Chris Jay, Executive Chairman of the charity said, “Compass has been an advocate and supporter of Enable Me’s work for some time now- but it wasn’t just its generosity and understanding of disability awareness that has gained our custom. They are also recognised for their expertise in the charity sector and for their experience of working with high profile non-profit organisations. We are delighted to be working with them and look forward to a long future together!”

Stuart Lawrance, Director of Compass said, “We are very pleased to welcome Enable Me as a client. Staff at Compass have already shown great support for the organisation’s cause - it will be a great pleasure for us to offer our comprehensive range of services to support the charity in meeting all its financial and compliance needs.”

Compass will be sponsoring the Enable Me Golf Day, which will take place on Friday 28th April 2017, at Littlehampton Golf Club (see below).

Compass to sponsor the Enable Me Golf Day in Littlehampton

Compass Accountants is proud to announce that it will be the main sponsor of the ‘Enable Me Charity Golf Day’ – an annual event that helps the Littlehampton charity to raise funds.

The Golf Day will take place on Friday 28th April 2017, and will include a set lunch and refreshments, with various golfing competitions including ‘nearest to the pin’ and ‘longest drive’.

The day will take place at the Littlehampton Golf Club (dress codes apply), and will begin with brunch at 10.30am- with the last tee off at around 13.00.

The cost for entry is £45 per player which includes a set lunch (£20 - for Littlehampton Golf Club members).

Enable Me is a unique not-for-profit organisation based in Littlehampton working to raise disability awareness, providing services that include awareness workshops and training programmes for businesses, schools and sports professionals.

Compass’ Business Development Specialist- Jeff Walton, will be representing Compass and competing on the day. Jeff said, “It’s a great pleasure to sponsor this event, and as a keen golfer, it will also be a pleasure to participate! Enable Me’s cause is one that Compass proudly supports, so we are honoured to be contributing through sponsorship. It will also be a great occasion to meet new people, and to see friends and colleagues at the event!”

For further details, entry forms and booking tee times, contact Sue at Enable Me : office@enablemeproject.org.uk Tel: 01903 734400

The Compass Accountants App

The Calculator tools and what they do…

Following the release of the recently developed ‘Compass Accountants App’, we have received fantastic feedback from clients, especially regarding the mileage GPS tracking system and the receipt management tools- which allow you to precisely track your travel expenses and digitally store all of your receipts.

Mobile technology has become an intrinsic element of modern business - for example, did you know that over half of the visitors to your website will now view it on a smartphone or tablet- and over 85% of businesses now use smartphone apps?

As trusted accountants, we strive to move with the times and aim to provide the tools that will enable our clients to work more efficiently -and the Compass App has been designed specifically to do this.

As well as the GPS mileage tracking system and the receipt management tools, the Compass App also offers 15 different types of calculator. Here is a brief breakdown of each one, what they do and how they work:

  • APR - Want to know the APR based on a nominal rate of interest? Just enter the figures and tap ‘calculate’.
  • VAT - Use this calculator to work out the amount of VAT included in any figure, or the VAT that needs to be added to a VAT-exclusive amount.
  • Stamp Duty - This calculator determines the amount of stamp duty chargeable on the purchase of property or shares. Stamp Duty is a complex tax, so please contact Compass directly if you are unsure of how it is applied.
  • Loan - This calculator helps you work out the amount of interest and fixed monthly repayments on any loan.
  • Inheritance Tax - Careful planning is required whenever Inheritance Tax is involved. This calculator provides a simple answer to the amount of Inheritance Tax payable if little or no planning is undertaken.
  • Mortgage - This mortgage calculator works out how much monthly repayments will be depending on the size of the mortgage, the term of the loan and the current interest rate being charged.
  • Contractors - Enter your daily or hourly rate of pay into this calculator and it will show your monthly and annual contract values and your expected monthly take-home pay.
  • Savings - This calculator enables you to calculate the growth in your savings over a fixed period and how much you could expect in interest if you reinvest the total amount at the end of the term.
  • Payslip - Simply enter your tax code and gross salary and this calculator will show you how much your net pay will be after tax and NI deductions.
  • Company Car - How much will you be taxed if you have the benefit of a company car? Just enter the details in this calculator and it will show you how much tax you will have to pay for the company car and related fuel benefits.
  • Income Tax - Want to know how much your annual take-home pay will be? Just enter the amount of your weekly or monthly pay and you’ll be able to see the total deductions for tax and NI and your net earnings.
  • Increased Profit - Want to see what a 10% increase in sales will do to your profitability? Enter the figures from your latest accounts and this calculator allows you to use ‘what-if’ options to see what happens to your net profit.
  • Dividend vs Salary - Is it more advantageous to take profits from your business as salary, or dividends? Just enter your net profit figure and you’ll see what the different answers are. (Note- This is to be used as a guide only- Contact Compass for more professional advice.)
  • Corporation Tax - Enter your profits for the year and you’ll see how much Corporation Tax you’ll have to pay and what your Profit After Tax will be.
  • Income Tax - Enter your gross pay and whether you are paid weekly or monthly and you’ll see how much tax and NIC you’ll pay and what your take-home pay will be.

All these calculators are included with the Compass App which is FREE - even if you aren’t a Compass client, (so feel free to pass the details on to friends and colleagues!)

The app can be downloaded directly from iTunes or Google Play- (by searching for Compass Accountants) – or alternatively go to our home page and click the link to download them directly.

If it sounds like the App will be of benefit to you - don’t hesitate- and download yours free from the Compass website today…

Sam Beaven prepares for the
Great South Run in Portsmouth

Compass staff raise money on charity run

Compass Accountants team members, Sarah Harwood and Sam Beaven have both been busy recently, raising money for charities by participating in ‘The Great South Run’ in Southsea, Portsmouth.

The 10 mile running event took place in October, with runners passing through the iconic sights of Southsea and Portsmouth, including the Portsmouth Historic Dockyard, home of HMS Victory, past Spinnaker Tower, with a grand finish on the seafront.

Both Sam and Sarah ran a distance of ten miles – both completing the race in good time – (1hr and 46 for Sam and 1hr and 55 for Sarah).

Sam ran to raise money for Macmillan and Sarah ran to raise funds for Cancer Research as both of their families had previously been affected by cancer.

Sam raised a total of £355.00, and gained support from Compass through activities such as cake making and office games, and Sarah raised a total of £200.00. Both have said they would definitely consider running again next year!

Compass Accountants raises £2,000 on Charity Quiz Night

The attendance of 26 local businesses helps raise funds for Motiv8 and Enable Me

Compass Accountants is pleased to announce that a total of £2,000 was raised for charities following our quiz night and dinner for local businesses in the Hampshire region.

The event raised funds for Motiv8 -the charity based in Portsmouth that works to improve the life chances of young people- and Enable Me- the charity that works to help businesses, schools and Universities across the South with disability awareness training.

The Quiz Night took place at Portsmouth Football Club, and included a dinner, games and a raffle, helping to raise funds for both charities.  26 different local businesses and organisations joined Compass on the night.

Chris Jay, Executive Chairman of the charity Enable Me explains, “It was a great honour to have been selected as one of the charities Compass raised funds for. We are very grateful that disability awareness is something Compass are keen to support. Plus- they know how to organise a fantastic evening! A great night was had by all.”

Martin Wood, the Finance Director with Motiv8 South Ltd, was also present and said, “It was both a privilege and a pleasure to partner with Compass Accountants at what proved to be a really successful, well managed, well-run, most enjoyable Charity Quiz Night. The event generated an amazing donation of £1,000 for Motiv8 which will enable us to continue to provide life chances for some of the most vulnerable and disadvantaged young people and families in the communities that we serve.”

Each business attending entered a team of six players, with a total of 26 teams competing. The winning team on the night were Portsmouth based, HW Conveyancing Searches.

Stuart Lawrance, Director of Compass Accountants said, “The quiz has been a great success, not only as a means of raising funds for two very important charities- but also in bringing together clients and local businesses- allowing them to let their hair down and enjoy the night!”

Civic Leaders visit for APR Powder Coatings

This month, we were honoured to join our client, APR Powder Coatings in Waterlooville, for a Civic Visit, where 20 Civic Leaders from across Hampshire came to see their new facilities.

The Civic Party visited APR as a part of a tour of exemplar businesses in the Havant and Waterlooville region - led by Mayor of Havant -Councillor Faith Ponsonby.

The Mayor of Havant, who came to be familiar with APR Powder Coatings when she attended the grand opening of the new site, asked owner Jim Merriott to lead her Civic leader associates on a tour of APR, whilst demonstrating the size of the ovens and specialist equipment.

Following APR’s recent relocation, expansion and its development of the largest independent oven on the South coast, the company has seen a huge increase in business, whilst almost doubling its workforce.

APR had already developed a strong foothold in the industry, specifically with heavy goods vehicles and trailer manufacturers. With its site expansion, and increase in large specialist ovens, the powder coating business has now ventured into a larger volume of work, specifically within the marine industry.

The company has also introduced Quality Control Procedures, employing staff and putting processes in place that guarantee all APR’s work consistently reaches the highest standard.

Mayor of Havant, Councillor Faith Ponsonby said, “I wanted to bring fellow Civic Leaders from around the county to see exactly what APR are doing by bringing employment to the area and by providing a high quality service for boat building and manufacturers in the Southern region.”

Jeff Walton of Compass Accountants attended the event and said, “It’s a huge pleasure to see APR experience such recognition for the rapid growth and great success they have worked hard for - to be a showcase business for a Civic Visit is a fantastic achievement!”

Say Goodbye to ‘receipt management’ with the new Compass’ App

Let’s face it – keeping, organising and filing receipts is no fun! However, it is something most of us have to do. Whilst we can’t eliminate the necessity to retain receipts and invoices, we can help you simplify the process of maintaining your expenses- without ever losing a receipt again.

The new Compass Accountants App has a ‘receipt manager’ function that allows you to scan, save and store your receipts with the click of a button from your smart phone. After downloading the app from the homepage of our website- (or iTunes/Google Play) you can use the camera function of your device to photograph it, then it automatically saves through the App.

You can then store it using any information you choose -such as amount, client, category, or date. You can even add notes to the receipt for later and once the receipt is stored, you can simply press ‘email accountant’ and the receipt will be sent to a pre-agreed email address, with an auto-populated subject line for ease of filing and reference. Simple.

And, just in case you are concerned about HMRC’s policies on digital paperwork – it has now confirmed that it is completely acceptable to have digital versions of receipts and invoices, but it is worth noting they should be kept for the same amount of time as paper documents (which is 5 years after the filing date).
So, say goodbye to receipts now - and download the Compass Accountants App!
Also, don’t forget to tell your colleagues, family and friends about the Compass App- as it is not exclusive to Compass clients -and entirely free to download!

To download the Compass Accountants App go to www.CompassAccountants.co.uk and download from the home page or download directly from iTunes or Google Play by searching for Compass Accountants.

Compass Celebrates Joe’s Success!

Everyone at Compass was delighted to celebrate the news that Joe Curtis, recently passed his level 3 AAT Advanced Diploma in Accounting, with flying colours.

Joe, a trainee accountant at Compass, has been working hard and regularly studying at Itchen College in Southampton to gain the qualification. Having graduated from Southampton Solent University with a degree in Business and Financial Management in 2010, Joe worked for a period of five years at Tesco, before joining Compass Accountants in 2015. Since then he has rapidly made progression, gaining confidence in industry practice.

Having passed his Level 3 AAT he now plans to continue to study, with a view to becoming a fully ACCA qualified member of the Compass team. His progress with the AAT Level 4 Diploma, which covers high-level accounting and finance topics and tasks, has already begun following his enrolment on the course.

“It’s always great to see colleagues develop” says Director, Stuart Lawrance – “Joe has certainly proven that he has the skill and determination to go far here at Compass!”

Business miles simplified with the new Compass App

Anyone that claims for business mileage, will know that keeping track of previous journeys can be a frustrating task. Maintaining an account of every individual trip and calculating the precise distances through Google maps can be a time consuming burden. Which is why we are delighted to announce, that our new smartphone app has been designed to simplify this entire process for you.

The new Compass App, (which is free of charge and downloadable from iTunes and Google Play) allows you to permanently record all the information you need directly on to your smartphone.

Once the app is downloaded you simply set the mileage Calculator to ‘Start Trip’, and let the wonders of your GPS system do the rest, recording all the details of your journey, alongside a precise number of miles covered. When you arrive at your destination just click ‘End Trip’ and all details are automatically saved in your account.

You can also view all the details of your previous trips, including the dates of travel, times, reasons for travel, miles covered and more. These details can then be instantly emailed to Compass Accountants, or your head office or payroll department – depending on who requires the information.

In addition to the business mileage tracker the app also boasts tax tables, calculators, photo receipt managers, finance news, notifications, messaging tools and lots more.

If you haven’t downloaded the Compass App already, go straight to the homepage on the Compass website and download it now using the link -or alternatively, go to iTunes or Google Play and search for ‘Compass Accountants’.

If you would like to arrange a meeting to discuss a specific issue related to company cars or the tax implications of reclaiming mileage, please feel free to contact us on here.

Join us on the Compass’ Charity Quiz Night

Compass Accountants is excited to be hosting a Charity Quiz Night, on Thursday 29th September at Portsmouth Football Club.

The event will raise funds for the disability awareness charity Enable me and for the charity that works to improve the life chances of young people-Motiv8, both of whom work in Portsmouth and the surrounding area.

The Quiz Night will include dinner and a raffle with a range of superb prizes, with teams of up to six members participating (although companies are free to enter more than one team or table).

The fee is a £60 per entry fee per table of six, which includes a meal on the night. If you are interested in attending, book NOW as there are only a few days left to register your team and limited space exists.

Book your table by CLICKING HERE to download the booking form- Then, fill out the details and return to natalief@compassaccountants.co.uk

Entries must reach Compass by the 5th September 2016.

If you are also interested in donating a raffle prize for the event, please also contact Natalie using the email address above.

We hope to see you there!

The Compass App is here!

Compass Accountants are delighted to announce that you can now download our brand new App, FREE of charge, allowing you to have full access to all your key accounting data- anytime, anyplace.

The App can be easily downloaded from the Compass website directly onto your iPhone, iPad or any android device, and is packed full of useful features including tax tables, calculators, GPS mileage trackers, photo receipt managers, finance news, notifications, messaging tools and lots more.

Following the ever increasing use of mobile telephones in business, the Compass App has been designed to keep our clients up-to-date and well informed, with news, views, dates, data, reminders and tips.

Furthermore, the App also offers a simpler method of gathering and collating accounting information through features such as the receipt management tool. Here you can simply take a picture of the receipt and save it to the App, (if you like, you can even send it directly to Compass in this format). You can also search and track expenses and all other receipts- at the touch of a button.

The mileage tracker also makes keeping a record of journeys and precise distances very simple, using GPS*. Here, the GPS system in your device is accessed by the App, allowing you to save and store details of every mile in every journey, enabling you to review, edit and even email journey details with ease.

So, if you wanted to calculate the tax on certain company cars, assess how much tax you owe, check Stamp Duty costs, or just see how you might increase profits in your business- download the free App, and this can all be done from your phone.

The App will also allow you to browse a library of tax tables and show you the latest tax rates- 24/7. You can search for data on details such as Income Tax or Tax credits- and have immediate access to the information you need.

In addition, the App also makes it simple for us to communicate together, with push notification reminders and easy access to all of our contact details, including links to the Compass Social media pages.

If it sounds like the App will be of benefit to you - don’t hesitate- and download yours free from the Compass website today…

07 July 2016

Compass sponsors up-and-coming athlete!

Compass Accountants is proudly sponsoring local athlete and potential future Olympian, 13 year-old Elisha Parham.

As a pupil at Cams Hill School in Fareham, Elisha has shown great promise, competing in 100m, 200m, and 300m races- as well as competing in the long-jump. Having run in numerous competitions Elisha is a member of the Southampton Athletics Club and is currently rated third girl in the under 15’s for the 100m and 200m, and fourth for the 300m.

Elisha

Elisha with Compass Directors, Stuart Lawrance and Kerry Lawrance.

Earlier this month, Elisha’s 4x 300m relay team smashed the club record by 7 seconds and as a result the team are now ranked as number 4 in the UK. She is also a member of the Wessex League team and YDL league team.

Elisha’s Southampton team also competed in the indoor league in the winter, where they finished in 3rd place in the national finals after winning the regional finals.

To help her on her sporting journey, Compass have sponsored Elisha, providing her with sporting equipment including sports bag, windcheater jacket, clothing and running spikes.

Stuart Lawrance, Director of Compass Accountants said, “We are delighted to be helping Elisha on her journey as an athlete and wish her the best of luck in developing her sporting ability and achieving her goals. All the team at Compass Accountants are very much looking forward to watching Elisha’s promising career develop over the coming years.”

20 June 2016

Compass Continues to Expand with New Appointments

We are delighted to announce that Compass has expanded its team with the appointment of two new Senior Payroll and Accounts Managers, Isabella Brady and Sarah McInnes.

Isabella and Sarah join Compass Accountants, following our continued expansion and the recent launch of our new office in Portsmouth.

Sarah and Isabelle

Sarah - left, Isabella - right

Both Isabella and Sarah will further strengthen the Compass team bringing with them a wide and impressive background in the sector. Isabella has worked in accountancy roles for over 40 years, and brings with her strong experience of working with museums and non-for profit organisations- both of which are sectors Compass specialises in.

Isabella explains, “It’s an exciting time to join the team at Compass. I’m delighted to be joining a firm with such a prominent stance in the local region. I’m hoping my experience and knowledge will contribute to the company’s ongoing development.”

Sarah has worked with accountancy practices for just over 16 years and has experience in all aspects of accountancy services from audit and accounts preparation, to VAT compliance, management accounts and bookkeeping.

Sarah adds “It’s a great pleasure for me to join the Compass team. I was already familiar with Compass as a local practice, and was aware of their reputation as a friendly and personable team- so was very pleased when the opportunity arose. I have been made to feel very welcome and look forward to contributing to Compass’ reputation and services in the region.”

Stuart Lawrance, our company Director said, “The appointment of Sarah and Isabella puts us in an even stronger position to provide the highest standard of service we can, for both our existing and prospective clients. I am certain that their experience and backgrounds will deliver positive results for both Compass and its clients.”

26 May 2016

Compass Wins Charity Quiz

We are very proud to have been named the winners at the recent CMA charity quiz in aid of St Wilfrid's Hospice, which took place at Portsmouth Football Ground.

St Wilfred's are an independent local charity that cares and supports those in our community in the last phase of their lives.

Here is a picture of our winning team holding the award for first place.

Well done team Compass!

09 May 2016

Simple online payments for Compass’ clients

We are very pleased to announce that Compass clients can now conveniently make payments via our very own website. Our new WorldPay system, which has been incorporated into the Compass website, provides our clients with a fast, simple and straightforward way to pay.

Clients can be confident that their payment details are processed securely in line with PCI DSS compliance, allowing our clients to make quick, simple and secure transactions via our payment page.

To access the payment link, just go to the menu at the side of the Compass home page, and click ‘Pay Online’ -then follow the simple instructions. All major credit and debit cards are accepted through the website.

The addition of the online payment system precedes the launch of the ‘Compass Accountants App’- which will enable our clients to have ground-breaking technology at their fingertips.

The Compass App will allow clients to manage their accounts from their mobile devices, accessing financial information, receiving messages, tips, utilising tools, and features such as tracking, storing and managing mileage, photo receipt management and calculators for -savings, mortgage, company cars, loans, Pay slips, VAT and more. The app will be compatible with mobile devices including smart phones and tablets.

More information on the app will be available very soon!

2nd March 2016

Compass continues to provide services to the travel industry as a licensed practitioner

Compass Accountants is delighted to announce that we are now fully licensed as an ‘ATOL Reporting Accountancy Firm’, following Director, Kerry Lawrance’s recent achievements in passing the required ICAEW training.

As from the 1st April 2016, any accountant that acts on behalf of an ATOL licence holder, or wishes to submit ATOL Accountants’ Reports to CAA (Civil Aviation Authority), must be an ‘ATOL Reporting Accountant.’

Kerry Daly

The CAA has developed the scheme to help improve the standard of ATOL reporting and to provide assurance that any financial information submitted to them is accurate.

They have designed the scheme to ensure accountants are sufficiently knowledgeable about the travel industry as well as the requirements of the ATOL scheme.

As a uniquely complex and specialist area, ATOL reporting demands that licensed practitioners possess a strong knowledge of both the travel sector and the ATOL regulatory environment. Having proven this throughout her recent training and examinations, Kerry is now approved as a license practitioner, and is therefore able to continue her work with clients, as a specialist in the travel industry.

Kerry explains, “We are thrilled to be able to continue working with businesses in the travel sector as we have established strength in this industry. It also allows us to reach out to other businesses in this sector, who may not be aware of the changes, or may not be currently be receiving this level of expertise from their advisor.”

If your accountant has not submitted their application in time, or is no longer a licence holding practitioner, call us now.

For any further information on Compass as an ATOL Reporting Accountant, or to discuss our services in the travel industry- contact Kerry on 01329 443457

25th January 2016

Not for Profit Bulletin – (Winter 2015/2016)

The Compass Accountants Not for Profit Bulletin – (Winter 2015/2016) is available to read, offering Charities, Museums, Galleries, Schools & Academies, up-to-date news, information, guidance and tips. This edition covers:

  • Gift Aid: Partnership Declarations
  • More on Gift Aid Declarations
  • Accounting for Donated Goods - FRS102 & SORP

2015

  • Company Cars - latest advisory fuel rates
  • Supplies of sporting services - VAT reclaims
  • Community amateur sports clubs - VAT reclaims
  • Professional bodies approved for tax relief

Download the newsletter now using the link below:

Not for Profit Bulletin – (Winter 2015/2016)

25th January 2016

Compass expands with a new Portsmouth branch

Compass Accountants is delighted to announce that a new office, at Gatcombe House in Portsmouth has been launched. The new branch will enable us to further establish a strong clientele in the city.

Following the demand to support an increasing number of Portsmouth based clients, the new office was launched with a celebratory networking lunch event. Many of our current Portsmouth clients attended the opening, joining the company’s Directors, staff members, associates and partners on the day.

Compass Accountants’ Director, Kerry Lawrance explains, “Over the years, we have found that more and more of our clients are based in the Portsmouth area, so it makes perfect sense for us to open another office that is in closer proximity to them. Furthermore, we are now in an improved position to expand our reach to other businesses and charities in the area.”

The opening of the new branch marks a continued period of growth for Compass. For 35 years, we have worked with an increasing number of Hampshire based organisations in various sectors from small to medium businesses to charities, schools and non-profit organisations.

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In addition to the opening of the Portsmouth Compass is undertaking a recruitment drive to increase the existing team in the Titchfield branch. (Click here to find out more).

Kerry concludes, “This is a very exciting and progressive time for us - the positioning of our two branches places us in an ideal position to grow even further in the future, allowing us to reach out to the business community of Portsmouth and all its surrounding areas.”

18th August 2015

R&D Tax Credits- The untapped benefit for small businesses

This article was previously published in August 2015 on FreshBusinessThinking.com- the UK’s largest online resource for small business owners and directors...

Research and Development Tax Credits remain untapped by many of Britain’s eligible SMEs, who view the relief as inaccessible. Kerry Lawrance, Director of Compass Accountants, offers guidance on how to claim and who can apply, whilst debunking some of the myths associated with the credit…

In April 2015, the rate of relief for SME businesses claiming Research and Development Tax Credits increased to improve investment and innovation. However, despite these increases, it is estimated that hundreds of thousands of small businesses continue to remain either unaware or uncertain of their eligibility to claim the credits. As a result, R&D tax credits are an untapped benefit for the SME. Consequently, millions of pounds remain unclaimed.

Whilst the larger organisations are reaping the rewards for these credits, the truth of the matter is, the smaller business is either unaware of the opportunity, or oblivious to exactly what can be claimed for.

So, who qualifies?

When people hear the words ‘research and development’, many unfortunately think of onsite laboratories, workers in white coats, or corporate research teams making ground breaking technological advances. However, in reality there are many unexpected industries that businesses can be in to claim, and the credits certainly aren’t limited to frontline innovation. Making any technical change can count as an eligible process, and a business of any size can be eligible to claim.  

For example, industries such as food production, cosmetics, electronics, mechanical engineering, IT, transport, materials engineering, architecture, construction, furniture manufacturing, and leisure can all be appropriate industries for the R&D tax claim.

HMRC themselves state that the claim can be made by any company aiming to achieve- ‘an advance in overall knowledge or capability in a field of science or technology through the resolution of scientific or technological uncertainty’.

So, as long as the project involves a process that fits this description, and sits within the company’s existing trade, (or one the company has plans on diversifying into), then the process can be claimed for.

What counts as R&D?

One of the most common misconceptions -and consequently, the biggest reason for small businesses not claiming- is the false belief that claims must that involve the process of inventing something ‘new’.

Whilst the credit certainly can be used for new developments and patenting products, it is largely used by organisations which are in the process of making improvements or modifications to a process or product. This means that you could be eligible for any process that occurs when your business is attempting to -for example- improve the speed of production, reduce the price of a product, or make it more environmentally friendly- and so, many industries -such as software, agriculture, chemicals, electronics, food processing etc– can then become potential industries the credit may be relevant to.

Solving a customer’s problem, addressing an issue in production, or improving the speed of assembly or manufacturing, using scientific principles, can all count as eligible processes for the claim, whether it is in the company warehouse, out in the field, on even in a home office -on a PC . Here the labour spent, materials used and consumables lost throughout these developments can be claimed for- and these often overlooked elements can lead to a substantial R&D tax return.

Making the claim

Whist the benefits of the tax credits are clearly valuable, many smaller businesses are still put off by the belief that the process of application will be arduous, complicated and lengthy. This also contributes to the reason why many smaller businesses fail to apply.

In actual fact, the process of application can be very simple.  Firstly, details of eligible research and development activities must be identified.  In the next stage a technical report must be prepared (which can be made by the business itself, or by an accountant specialising in this particular area).  The report needs to include full details of the research and development being undertaken together with a detailed assessment of the costs incurred on the project.  Here understanding the requirements of the HMRC and preparing a report that will withstand scrutiny is very important.

Once complete, the claim for tax relief is included on the company’s corporation tax return (CT600) and this together with the report can be submitted to HMRC for an inspector to evaluate.

This process can be simplified even further, by approaching an accountancy firm, (such as Compass Accountants) that specialises in compiling technical R&D claim reports. We undertake work to establish and document which activities in your business are eligible and document the relevant costs. We complete a full technical report including details of your claim and the financial costs associated. If we are unsuccessful with your claim there will be NO COST TO YOU.

So, businesses really do have nothing to lose.

The fact of the matter is, failing to make the first step in applying for R&D credits, means you’ll never know if you are eligible, and to what extent - and this could mean your business may be missing out on a substantial amount of money. After making the first step, the process of application is quicker, easier and more rewarding than most small business owners think- and if you choose Compass Accountants- finding out more about your eligibility poses no risk or cost whatsoever.

Find out more about your eligibility now by CLICKING HERE or call Kerry Lawrance, Compass Accountants’ specialist in Research and Development Tax Claims on 01329 443457.

6th July 2015

Compass Accountants listed in Charity Financials ‘Top 50 Auditors Listings’

We were very pleased to discover that in the latest bi-annual report from CharityFinancials, Compass Accountants has been ranked in its Top 50 auditors!

In it’s report, – ‘Charity Audit Spotlight’- CharityFinancials, the online tool that offers financial information on 163,000 charities, ranked Compass Accountants among some of the largest accountancy firms including PwC, Baker Tilly and Grant Thornton UK.

The report listed the ‘top 50 auditors by income audited’, with Compass coming in at number 41 in the list of UK accountants.

The report is designed to examine the audit market by reviewing a sample of the largest 5000 charities. CharityFinancials invites charities to use the report to help them in their selection process, should they be in the process of changing their auditor.

Stuart Lawrance Director of Compass explains, “This is great news for Compass, we are delighted to be ranked in this listing alongside some of the biggest firms in the UK. This shows that the personal and understanding service we offer, combined with our competitive value proposition, enables us to be listed alongside the giants in our industry.”

“Compass works with many charities, and we are delighted that the level of income we have audited has been recognised by what is a very well respected source.”