Dale Power Solutions

Lighting the way to net zero

Andrew Marr, Finance Director at Dale, says the last few years have seen them focus on their core business, which is ‘to continue supporting our existing clients in the service and maintenance of their operating assets, along with assisting customers on the road to net zero though the introduction of battery energy storage.’

The renewable sector underpins Dale’s growth: ‘People are focused on reducing carbon emissions, and we can help with that’.

Generating a relationship

Dale’s business structure consists of three holding companies and an operating company, with private equity funding.

Dale were looking for a company to conduct an audit, plus corporation tax compliance, but cost and value for money weren’t the only factors. They also needed:

• Efficient service and minimum disruption.
• A proactive service, led by a dedicated Director and supported by specialist team members.
• Seamless interaction across different services, including audit and tax, plus a broad range of compliance and advisory services.
• Access to feedback and a sounding board that delivers a more proactive basis for the discussion of business opportunities and options.

Bright sparks

We were able to offer thought-provoking, no-nonsense advice and support. And unlike competitors, we promised and delivered through structured line expertise, co-ordinated by a dedicated relationship lead, who was also available as additional support for the team at Dale.

Conducting the audit

Our audit style with Dale Power Solutions, as with all our other clients, was divided into six areas.

Quality

• We provided a high-quality service through our flexible, pragmatic and approachable style.
• We deployed the cloud-based software Inflo®. This application helps us to securely transfer information and maintain communication during the auditing process. It also enables us to operate a combination of office-based and remote auditing, which we can tailor to fit both parties.

Openness

• We didn’t spring unwelcome surprises or keep secrets during the auditing process. We prefer to be upfront and honest and address any reported matters in a timely manner.

Understanding

• We sought a complete understanding of the business to make sure we could identify and address any issues appropriately.
• We maintained and reported a register of recommendations that we thought Dale Power Solutions might find useful.

Team continuity

• Our Director-led approach helped us maintain continuity within the team to ensure the knowledge we accumulate over time is retained and this adds to our wealth of knowledge for future projects.

Agreed plans

• We always come to an agreement with businesses at the outset, to provide an efficient and fully focused period in which both parties can meet the requirements of the audit.

Continuous improvement

• We’re experts in our fields, but we never stop learning. We actively sought suggestions of ways to improve the quality of our team and the service we provide. Feedback is important to us.

Our audit stages

We provided our audit for Dale through four stages.

Planning

• We determined the strategy and checked for any accounting issues.
• Risk assessment procedures and risk identification.
• We conducted an audit planning meeting with the list of deliverables supplied.

Controls and information

• We gained an understanding of Dale’s accounting and reporting activities.
• We evaluated the design and implementation of controls.
• We ensured our understanding was in line with the current and future strategy of Dale Power Solutions.

Testing and adjustment

• We planned substantive testing procedures.
• We performed testing in line with planned processes and ensured risks received sufficient focus.
• We considered whether audit evidence was sufficient and appropriate.

Completion and reporting

• Performance of completion procedures.
• Overall evaluation of final statements and disclosures.
• Reported our key findings to management.

Charging fairly

We proposed to absorb the first-year, non-recurring costs to set-up the engagement and build our knowledge of Dale, as a reflection of our hope to work with them, long-term. Our fee:

• Was based on the trial balance being prepared and reconciled by the business, along with supporting schedules from the previous finance team.
• Future increases are limited to RPI, unless there’s a significant change in the scope of work.
• Excludes VAT and disbursements.

Watt it’s worth

Although it’s early days, the relationship between Fortus and Dale is going extremely well since that first audit. So much so, Andrew says Dale have ‘asked for additional services that were highlighted to us. We’re particularly keen to engage with the R&D service line’. So what started out as a need to save money on an audit could become a mutually energising relationship for Dale Power Solutions and Fortus.

From audits to R&D, payroll to tax advice, we’re here to help your business. Get in touch with Fortus today, or call 01904 558 300.