AEROTRIM GROUP LTD
June 2011 - January 2012
Responsible for the running of all activities for the Aerotrim businesses which consisted of:
Aerotrim Group Ltd (Parent and holding company)
Aerotrim Systems Ltd (Main trading company) – £1.5m turnover per annum
Polar Thermal Products Ltd - £500k turnover per annum
My remit from the owner of the Aerotrim was to take control, understand the position of all the companies and solve any issues with agreement of all the stakeholders which were Lloyds TSB, Lloyds Commercial Finance, Clydesdale Bank, Owner of the company & CEO. On a two-month investigation Aerotrim Systems Ltd I deduced it was not credit worthy and from this I constructed a phased business plan which I delivered and to date Aerotrim Group now holds an excellent credit score and a turnover £100k per month with a net profit of 30%.
To summarise my main responsibilities were:
Total financial control of all the companies (only contact for Banks and factoring services) including regular monthly reviews.
Strategic guidance to all businesses with regular updates to Profit and Loss forecasts.
Payments to suppliers and invoicing customers, making sure payment is prompt.
Day to day running including project management of all the contracts.
Dealing with HRMC (VAT, Corporation Tax and PAYE).
Health and Safety and all HR activities within every business.
Main point of contact for local government.
Negotiations with current and new suppliers and procurement of major items for company and contracts, including sub contract and commercial management.
Strategic guidance and support to the sales team.
My main achievements were:
Quick recognition of major issue areas within all the business.
Phased business plan including P&L forecast from 1-5 years, with buy in from stakeholders and successful delivery.
Strong financial control and foundations for the business to grow successfully going forward.
Liquidation of Aerotrim Systems (dealing with Insolvency practitioners and associated processes and practices).
Aerotrim Group from a holding to a trading company and lowering operating costs by 50%.
Rationalisation of staff but still able to deliver agreed level of business.
Putting in place HR procedures as well as creating new contracts for all employees.
Business insurance with a reduction of 50% to new policy price and including updating H&S procedures & assessments.
Bringing on board a factoring service to help with cash flow and negotiating lower charges by 40%.
Working with solicitors to put second charges in place on factories for factoring service.
Deed of Covenant in place with support from local government for factoring service.
Upfront funding from banks and financial institutions.
New procurement strategy with all present and new suppliers reducing costs by 30% across all materials and services.
Supporting sales team and now having a large number of blue-chip customers (General Dynamics, DHL, GSK, Lockheed Martin, UK Intelligence Agencies, Selex, MOD, G3).
Partnership and collaboration with customers & suppliers to strengthen large bids (+£2m) including the creation of a company NDA.
Sales, Marketing and Business Development strategy for the next five years and bids valued at +£20m (previous £100k).
Successful negotiations with HMRC and payment plans agreed for most Aerotrim companies due to non-payments of corporation tax & VAT four years previously.