Accountancy Case Study

Conway Marsh Garrett Technologies Limited

Conway Marsh Garrett Technologies Limited (t/as CMG Technologies Ltd) was purchased as a management buyout from the previous owners in 2013 by three directors. They operate in the manufacturing industry and specialise in metal injection moulding (MIM). This is a niche market, and they are the only manufacturing company in the UK that can do this.

CMG’s current main activity is manufacturing metal parts for gas sensing technologies. During the COVID-19 pandemic demand for parts for critical care ventilators  increased significantly from around 1000 per month to 10,000 of each part. Rachel Garrett, managing director said: “Our team worked above and beyond to deliver this as part of our commitment to stepping up as key workers during the health crisis.”

“The support and advice we receive from Scrutton Bland has been invaluable over the years. We have every faith and complete trust in Emma Clifton and her team. They are always very professional, always respond in a timely manner and are a pleasure to work alongside.”

Rachel Garrett,
Managing Director, Conway Marsh Garrett Technologies Limited

Highlights and challenges

As the only MIM manufacturer in the UK, CMG are suppliers of a vast range of metal parts to different industry sectors at home and abroad. There are a number of challenges and limitations that are inherent within MIM processes but CMG have invested time and money into addressing these core technological issues, and regularly work with clients who are innovators and leaders in their field, such as Covvi Robotic Hands, who are leading the way in the prosthetics sector.

As a result, the directors have overseen the development of a highly successful business with turnover growth of 25% over the past seven years.

In 2016 the directors identified a need to introduce a more flexible and cloud-based accounting suite. Further assistance was needed following the sad death of one of the founding directors in 2018, as the two remaining directors took over the running of the business, meaning that their resources were stretched. The business is now run by the two remaining directors as managing director and operations director, with both sharing responsibility for sales.

How we were able to help

✓ Scrutton Bland helped CMG move their accounts package from Sage 200 to Xero in 2016. During this period, they had an internal re-shuffle and we also took on their bookkeeping services for them.

✓ We also helped CMG to use Dext to post their invoices for sales and receipts. Scrutton Bland then reconcile the bank, prepare their VAT Returns, EC sales lists and Intrastat forms (for trading between European countries) and all other bookkeeping duties.

✓ At the end of 2019 Scrutton Bland assisted CMG with the introduction of Chaser, a credit control app which has been a great success for them, saving them many hours work in the financial management of the business, and enabling them to get on with running the company.

✓ The Corporate Services and Business Advisory teams at Scrutton Bland remain very hands-on with this client and we meet regularly to discuss future strategies of the business and support them in any way we can.

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