Accountancy firm MHA Moore and Smalley says growth at its Liverpool office helps send revenues up 14% to £27.2m with partners set to share a pot of almost £8.7m and announces a merger. Tony McDonough reports
North West accountancy firm MHA Moore and Smalley is reporting a 14% rise in revenues to £27.2m in the 12 months to March 31, 2023.
Employing more than 400 people, the practice has offices in Liverpool, Preston, Manchester, Blackpool East Midlands, Kendal and Lancaster. The firm was established in 1892.
During the 12-month period MHA Moore and Smalley had 26 partners and they will now share the profits which are also up to almost £8.7m. Number of partners has since grown to 29. In Liverpool it employs 36 staff including four partners.
And on Wednesday firm announced it was formally merging with MHA on April 1, having been part of its network since 2010. This will create a nationwide audit, tax and advisory practice with 1,600 partners and staff operating from 21 offices.
Graham Gordon, managing partner at MHA Moore and Smalley said: “We have been part of the MHA network since its inception in 2010 and adopted MHA into our name in 2017 as we began working even more closely with our MHA partners.
“This merger is the next strategic move for us and a significant moment for both firms. It will create an exciting new proposition for our clients and is also a great opportunity for our people to be part of a new firm with serious growth ambitions.”
In its annual report the firm said: “Our strategy has been and continues to be to pursue profitable growth by extending our geographical reach and investing in the expansion of our teams and supporting infrastructure.
“Turnover year-on-year increased by 14%. This was principally due to the further investment and growth in both our Manchester and Liverpool office and organic growth across our existing business.
“After another challenging year it was pleasing to see that our profit for the financial year was £8.6m. This enables us to further invest in the people and infrastructure required for sustainable, profitable growth.”
MHA’s Liverpool office is based at Exchange Station in Tithebarn Street in the city centre. It has continued to add to its team in the city during 2023. The latest addition to the office is tax specialist Michael Spencer, who joined towards the end of the year.
In August LBN revealed the firm was launching a new charitable foundation that will promote financial literacy and nurture career and life skills for young people.
Iit has called this new initiative the 1892 Foundation. It will fund projects that promote financial literacy and nurture career and life skills for young people.
Launched on the UN’s International Day of Charity, the foundation will support the work of Community Foundations in the UK who will help direct the funding to projects and organisations across all areas where MHA Moore and Smalley has offices.
Graham Gordon, managing partner of MHA Moore and Smalley, said at the time: “We’re committed to improving access to financial education to equip the next generation with essential economic skills, something not always covered in schools.
“During the last couple of years, we’ve supported several projects and organisations through the Community Foundations network.
“Partnering with them to establish the 1892 Foundation was the natural next step in building on our partnership with this fantastic cause.”