Help at hand
Ian Williams has stepped in to support a number of clients,
following the collapse of Connaught and Rok.
With thousands of tenants across the UK wanting reassurance that
their emergency repairs would still be attended to, our teams
stepped in where requested to provide temporary services.
Teign Housing for example sought our gas expertise for a month,
starting from the day Connaught went into administration.We also
supported Newport City Homes and Penwith Housing Association.
Warwick District Council has since appointed us in the
short-term to cover repairs and voids to an additional geographic
area with some 2,000 homes and West Devon Homes has asked us to
deliver response maintenance and voids works to 1,500 homes up
until March 2011. We have also picked up additional work with
Raglan HousingAssociation.
|
Financial
solvency
at a glance
|
|
The collapse of what appeared to be solvent,
growing companies may have left some clients less confident in
credit ratings and external partners. With some credit ratings up
to ten months old, here’s our recommendations on what to look for
when assessing credit worthiness and a quick overview on our
position.
|
|
Factor
|
Ourposition
|
|
Level of debt
|
We have no debt
|
|
Cash behaviours - level of cash held, large
non-trading movements
|
We have an excellent positive cash position
and it is all driven by trading
|
|
Longevity of trading
|
We have traded since 1946
|
|
Large growth or acquisitions. Acquisitions
that failed to be integrated or exponential growth may indicate
risk
|
We have a strong order book and focus on
self-funded organic growth
|
|
Balance sheets that rely on intangible assets
such as goodwill or brand value
|
We have no intangible assets listed in our
financial statements
|
|
Trading terms - 90 day payment terms may
indicate a cash problem
|
We provide fair credit terms with all our
suppliers
|
|