Our client, a pre-revenue early-stage start-up, sought to raise capital from multiple sources and list on the main board of the London Stock Exchange (LSE) via a reverse takeover transaction. We were engaged during a critical transition period following the departure of the Finance Manager, when the company needed continuity in financial management and reporting, as well as specialist financial expertise to navigate the listing process and enhance governance.

Upon engagement, our bookkeeping team swiftly took full control of the company’s accounting and payroll processing requirements.

One of our Virtual CFO’s then supported the client by preparing monthly financial reporting packs for the board and presenting these, providing company secretarial support through the preparation of meeting agendas, drafting resolutions, and taking minutes of meetings. Additionally, we managed all government grant reporting requirements and assisted with insurance renewals etc.

Critically, we collaborated closely with the auditors to finalise the audits of prior year financial results and prepared the annual financial statements for the current year in a timely manner, working closely with the auditors to ensure they could complete their work within the strict deadline required.

As the listing process progressed, we provided extensive support to our client by:

• Preparing multiple capitalisation tables and analyses.
• Supplying financial information and commentary required for inclusion in the prospectus.
• Furnishing all necessary information required by the UK-based Investigating Accountant for their rigorous due diligence work.
• Addressing IFRS and technical accounting issues as required and responding to all related queries from professional advisers working on the transaction.

Through our comprehensive services, we provided the client with the financial management reporting and continuity and the vital CFO support needed for their capital-raising and listing initiatives.