Sectors / Engineering & Manufacturing
Specialist accountancy for engineering and manufacturing — survival of the financially fittest
Philip Barnes & Co Chartered Accountants works with automotive, telecoms, engineering and manufacturing businesses turning over between £500k and £50m a year. We understand how exposed this sector is to local, national and global conditions — and we build our advice around that reality.
Who we work with
Accountants who know the sector
Philip Barnes & Co Chartered Accountants has built specialist accounting expertise across engineering and manufacturing — including automotive and telecoms businesses based in Staffordshire and beyond. Our clients in this sector typically turn over anywhere between £500k and £50m per annum.
Manufacturing and engineering businesses face pressures that general practice accountants rarely encounter: volatile input costs, complex supply chains, foreign currency exposure, and capital-intensive investment cycles. We have worked with businesses across this range and understand what the numbers need to do.
Our advice is grounded in the operational realities of the sector — not generic business guidance dressed up in sector language. If your margins are tight and your order book is lumpy, we know what that means for your cashflow model and your tax position.
What we cover
Services for engineering and manufacturing businesses
From job costing to R&D tax claims, our work spans the full financial lifecycle of a manufacturing or engineering business.
Profit, costing and investment appraisal
We help you understand true job costs, set labour and overhead recovery rates, and appraise capital investment decisions — so you know whether a new machine or contract genuinely improves your position.
Tax — including CIS and R&D claims
Construction Industry Scheme compliance, Research & Development tax credit claims, capital allowances on plant and machinery, and succession planning for owner-managed businesses. We identify reliefs that are easy to miss.
Finance, grants and foreign currencies
Raising finance for growth or equipment, identifying grant funding, and managing the P&L impact of foreign currency transactions — particularly relevant for businesses exporting or sourcing materials internationally.
Planning, forecasting and KPIs
Resource and capacity planning, inventory and stock management, budgeting, cashflow modelling, and KPI setting and monitoring. We build the reporting framework that lets you run the business on facts rather than instinct.
Full service list
Everything we do for this sector
The following services are available to engineering and manufacturing clients of Philip Barnes & Co Chartered Accountants, an ICAEW-regulated firm with offices in Tamworth and Uttoxeter, Staffordshire.
- 01 Profit and costing Understanding your true cost base — materials, labour, overheads — and what that means for pricing and margin.
- 02 Investment appraisal Evaluating capital expenditure decisions with rigour — payback periods, NPV, and the tax implications of each option.
- 03 Job costing Tracking costs and revenue at the job or contract level, so you know which work is profitable and which is not.
- 04 Labour and overhead recovery rates Setting recovery rates that reflect your actual cost structure — critical for accurate quoting and margin management.
- 05 Foreign currency management Accounting for currency exposure in your P&L and balance sheet, and advising on hedging approaches where appropriate.
- 06 R&D tax credits and CIS Identifying qualifying R&D expenditure and preparing claims. Construction Industry Scheme compliance for businesses operating in that space.
- 07 Capital allowances and succession planning Maximising allowances on plant, machinery and fixtures. Planning ownership transitions to protect value and minimise tax.
- 08 Raising finance and grants Preparing the financial case for lenders and grant bodies, and identifying funding sources suited to manufacturing and engineering businesses.
- 09 Inventory and stock management Accounting treatment and management reporting for stock — including WIP valuation and slow-moving inventory.
- 10 Budgeting, forecasting and cashflow modelling Building the financial models that let you plan capacity, manage working capital, and present a credible picture to your bank or investors.
- 11 KPI setting and monitoring Defining the metrics that matter for your business — OEE, throughput, debtor days, gross margin by product line — and reporting on them regularly.
Client feedback
Engineering and manufacturing clients who work with Philip Barnes & Co Chartered Accountants will be featured here. If you are an existing client and would like to share your experience, please get in touch.
We do not publish testimonials we cannot verify. Feedback from named clients in this sector will be added as it is provided.
Talk to us about your engineering or manufacturing business
Philip Barnes & Co Chartered Accountants has offices in Tamworth (The Old Council Chambers, Halford Street, B79 7RB — 01827 60033) and Uttoxeter (40 Carter Street, ST14 8EU — 01889 563550). Call either office to arrange a free initial consultation, or use the link below.