Who are BHP?
BHP is an independent firm of chartered accountants with origins dating back to 1867 through Jarvis Barber and Sons.
The group’s timeline also traces back to the 1880 creation of Sisson Platt and Co, and the 1910 formation of Ransom Harrison and Lewis. In 1970, the three firms merged to create Barber Harrison and Platt (BHP).
What followed was a series of acquisitions and mergers in a short period of time, commencing with the takeover of the Chesterfield-based Carlines and continuing when Moore Fletcher and Co and Cobden Board were also acquired before the turn of the millennium.
A merger with Ingram Forrest Corporate Finance in 2006 was followed by 2011’s Mitchells Group merger and 2013’s Barron and Barron merger. A merger with Clough and Co in 2015 boosted BHP’s operations to over 300 staff and six offices.
Since then, the group has merged with GVT Chartered Accountants in 2016 and Atkinsons in 2017.
Today, BHP operates with 37 partners and over 300 professional support partners, as well as operating as a member of the global network of independent accounting firms, Kreston International.
What do they do?
BHP’s operations are split into four key areas: assurance, advisory, corporate finance, and tax.
Included in its advisory division are business strategy, growth and succession, consulting, debt advisory, financial planning, forensic, and insolvency and restructuring services.
The group’s assurance team covers audit, accounts, and outsourcing, while the tax department can be broken down into business and private client offerings.
Moreover, as a member of Kreston International, BHP is able to provide its clients a global resource for accounting, audit, taxation, and advisory services.
The group saw its turnover for the year ended 31 March 2020 increase 11.4% year-on-year to £19.7m, while operating profit climbed 20% to £3.87m.
When including BHP Prosper, the firm’s outsourced bookkeeping, management accounts, and payroll arm, BHP Financial Planning, its wealth management business, and BHP Corporate Solutions, the corporate restructuring, recovery, and insolvency group, turnover in FY20 rose to £24.2m, up from £21.7m the year before.
Looking ahead to a Covid-19 impacted FY21, BHP claimed that its Q1 results were “in line with budget”, adding that its cash position “remains strong despite the challenging environment”.
It said: “We are pleased that we have continued to win substantial amounts of new business throughout the period and are confident that we will continue to grow our business in line with our strategic plan.”
In the news
BHP was most recently in the news for the double appointment of Will Sykes and Mathew Oldfield to the company’s corporate finance division in March. Both Sykes and Oldfiled joined the group following successful internships in 2018, and work in BHP’s M&A advisory team and transaction services division respectively.