We have worked with the team at PM+M for a number of years and have benefited from advice, assistance and support across a range of services as our business has grown.Boyd Hargreaves, CEO of Loom Loft
Over the last couple of years, Judith Dugdale and the team have provided valuable support with financial accounting matters, personal tax planning and general business advice. Mark Richmond and the tax team have been instrumental in reducing our corporation tax through proactive reviews, while more recently Ross Williamson has helped us achieve significant savings following a review of our company pension arrangements.
It is great to have access to such a broad range of expertise and support within one firm.
About our client
Loom Loft Ltd is an independent, family-run furniture and interiors retailer with a growing presence across Lancashire and the North West.
Following the success of its established stores in Batley and Clitheroe, the business expanded rapidly, opening a new store in Bolton in 2024 and additional locations in Preston and Lytham in 2025. While this expansion created significant opportunities, it also brought new financial and operational challenges. The management team needed greater visibility of the financial performance of each store, support with increasingly complex accounting requirements, and reassurance that all available tax reliefs were being claimed as the business continued to invest heavily in growth.
How PM+M helped
PM+M has worked closely with Loom Loft’s finance and management teams to provide a range of accounting, tax and business advisory services tailored to the company’s rapid growth.
We helped develop an internal reporting framework that provides meaningful month-by-month management information while also ensuring the business maintains robust financial records that support the efficient preparation of its annual statutory accounts.
Our team reviewed the accounting treatment of store opening costs to ensure the business received the most beneficial tax treatment available. We also carried out detailed capital allowance reviews on significant store fit-out expenditure, helping Loom Loft maximise available tax relief on its investment programme. In addition, we reviewed the accounting treatment of customer deposits, finance arrangements and related costs to ensure the company’s statutory accounts accurately reflected its annual performance.
To further strengthen internal processes, we provided Sage training to improve record keeping and reduce the time required at year end. More recently, following increases in employer National Insurance costs, we worked with the business to review its pension arrangements and identify opportunities to reduce employment-related costs and generate significant savings.
The outcome
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Faster and more efficient financial reportingBy aligning management information with statutory reporting requirements, Loom Loft can move quickly from internal reporting to final accounts preparation, enabling timely publication of results and supporting positive industry publicity around the company’s continued growth. -
Improved cash flow through tax savingsCapital allowance reviews and proactive tax advice secured substantial tax savings across consecutive years, helping the business manage the significant investment associated with opening and fitting out new stores. -
Reduced employment costs and enhanced financial efficiencyA review of the company’s pension arrangements identified opportunities to reduce costs at a time of rising employer National Insurance contributions, creating meaningful savings that can be reinvested into the continued development of the business.
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