Home About Contribute Media Kit Contact Sign In


Health Industry News

Haworths Helps Vets Decide on Best Financial Treatment

Haworths Helps Vets Decide on Best Financial Treatment


From poorly puppies to sickly snakes, veterinary practice, Shuttleworth Veterinary Group in Rawtenstall has built an enviable reputation for excellent standards of care and service over the years.

Vet, Vince Wager, joined the business in 2010 and had discussed the possibility of opening a second practice with the company’s owner, Hammad Sarwar. So when an opportunity arose to acquire a suitable property in Rochdale, the colleagues looked into the business case for setting up in the town.

Explains Vince, “There were already several vets’ practices in Rochdale but the building and location were ideal and we believed we could bring something new to the town based on the best practice model of the existing business in Rawtenstall.

“There were several questions about how to set up the business and how to manage the property acquisition element of the process so we arranged a meeting with Haworths Chartered Accountants for its advice on a wide range of practical matters.”

Future Flexibility
Vince and Hammad wanted to set up the new business, Valley Vetcare, as a 50/50 partnership and had already decided to buy rather than rent the property. 
Hammad already owned the Rawtenstall practice and the two companies were to be linked by common computer systems, a shared client database and the use of shared equipment.

Vince says: “We needed to look at the best way to structure the new business in terms of deriving the maximum benefit from the links between the two practices while keeping them financially separate.  We also wanted to ensure that there was enough flexibility in the structure of the company and assets ownership to factor in varied options when we decide on exit and earn out plans in the future.”

Haworths’ Jeff Allsebrook says:  “We outlined the possible options for dividing shares in the business and structuring the property purchase to build flexibility into the company’s asset base. While the property purchase was financed by a bank loan from Hammad’s existing business bank, we also advised the business partners on asset finance options for a new X-ray machine and helped to compile the application.”

Vince continues: “After listening to Haworths’ advice we decided to keep the property and the business financially separate.  Hammad and I own the premises jointly and we rent it to the Rochdale practice, which we also own on a 50/50 basis.

“This means that if we decide to sell the practice in the future and the buyer cannot afford to buy both the business and the property we can continue to rent the property to the new owners.”

Supporting Growth
The property purchase was completed by January 2014 and the Valley Vetcare practice in Rochdale opened to its first clients on 1 April. In the meantime, Haworths continued to help the fledgling company with the practical financial matters surrounding set up, including VAT registration and installation of the company’s SAGE accounting systems.

Going forward, Haworths will be responsible for dealing with the report and accounts for the new veterinary practice and Vince and Hammad will continue to involve the company in decisions about the property.

Vince adds: “At the moment the practice is based on the ground floor of the building and we are using the upstairs as office space. We are hoping to expand to the first floor as we grow but in the meantime we need to decide whether to rent that space out as a revenue generator and we will continue to consult with Haworths to ensure we consider all the financial implications of those choices as the business develops.”

Jeff says: “Every business is different and it’s important that we get to know our clients so we can give the best possible advice. “


Health Business News - In little over a year, Clare Davis s brother died, her house burnt down, her young child went missing and she was diagnosed with skin cancer. The last three events took place within a fortnight of each other testing the mum-of-four s resilience to the core.

Trainer delivers mental health support in the workplace and schools

Health Business News - 2020 has been a tough year for everyone but especially for the elderly. As they are more susceptible to COVID-19, most of them have been shielding and cooped up in their homes for most of the year.

Caring for the Elderly Through Winter

The UKs Most Private Cities

By Johnny H

Nov 25 2020 02:34PM

Health Business News - With World Mental Health Day still fresh in our minds, it s safe to say that the coronavirus pandemic has had a profound impact on our daily lives, especially when it comes to mental health. Routines have been disrupted, working from home has left people isolated, and the ability to go abroad to destress has been limited.

The UKs Most Private Cities

Health Business News - If the changing season, short dark days, dreary weather and now lockdown 2.0 is leaving you feeling lethargic and lacking in energy, you re not alone. Winter fatigue is a common condition affecting millions of people in the UK often setting in with the same seasonal regularity of the annual clock change.

How To Combat Winter Fatigue With Five Surprising Energy Boosters

Health Business News - Research from an independent champion for people who use health and social care services has made a series of recommendations to improve children and young people s mental health services. One recommendation, in particular, encourages the promotion of self-referral into these services.

Mental Health Support For Young People

Health Business News - From the late 1940s, thousands of men, women and children have left Jamaica for Britain. Yvonne Bignall s parents were among those who left their family and homes to travel thousands of miles for opportunities abroad.

Black History Month Entrepreneur thanks parents for instilling resilience