Haysmacintyre

Who are Haysmacintyre?

Formed in 2001, Haysmacintyre LLP is the product of a merger between two long-standing London firms, Hays Allan and MacIntyre and Co. 

Since its formation, the firm of chartered accountants and tax advisors has grown its operation to expand over 38 partners and new premises in the City of London, which it opened in 2018.

The group also co-founded the MSI Global Alliance in an attempt to support its clients’ international business operations and growth plans. The alliance now involves over 250 mid-sized legal and accountancy firms in more than 100 countries.

2018 saw the firm introduce a set of staff-created common values, which included integrity, collaboration, empowerment, and dynamism. Moreover, a diversity initiatives programme was launched in 2019 at the Haysmacintyre, the same year as the firm converted to a Limited Liability Partnership (LLP).

Haysmacintyre’s 38 partners and over 300 staff are led by Jeremy Beard, managing partner at the firm.

What do they do?

Haysmacintyre says that “the principal object of the LLP is to provide sector-focused advice to business leaders, owner-managed businesses, PIEs, charities, and not for profit organisations across the UK and internationally”.

The group offers a range of professional services, including audit and assurance, taxation, accounts preparation, business advisory, and corporate finance, while also providing a number of outsourcing services.

Moreover, the firm of chartered accountants and advisors claims to have built “strong, close and enduring relationships” as “trusted advisors” for its clients.

Recent Financials

The firm saw revenues grow 14% year-on-year to £37.3m in FY20, up from £32.8m the previous period. This in fact represented the fifth consecutive year that Haysmacintyre’s year-on-year revenue increase exceeded 10%.

Despite the revenue climb, the group’s operating profit fell 3.3% year-on-year to £10.9m for the 12 months ended 31 March 2020.

While the recently published results do not take into full account the impacts of the Covid-19 pandemic, Haysmacintyre assured that the group’s “adequate” liquidity will see it through the ongoing restrictions.

It said in its FY20 financial statement: “The members have considered the working capital requirements of the LLP alongside cash flow projections for at least twelve months following the approval of these financial statements.

“The forecasts demonstrate that the LLP has more than adequate cash resources and bank facilities to continue to operate for the foreseeable future.”

As of 30 March 2020, the firm’s fixed assets totalled £4.2m, while its current assets sat at £15.7m.

In the news

In addition to the group’s LLP switch and diversity initiatives programme launch, 2019 saw the appointments of Jeremy Bead to managing partner in July and Tim Davies to head of tax in October. Haysmacintyre has since promoted Elena Ramkalawon to partner in December 2020.

However, the group’s most recent headline came in the form of an FRC sanction against the firm. The accounting watchdog awarded Haysmacintyre a £125,000 penalty over its audit of the financial statements of Associated British Engineering for the financial year ended 31 March 2018.

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