Agricultural success through financial insight

A J Heywood & Sons, a family-run agricultural and groundwork contracting business, has been a pillar of support for the local community in North Cornwall and West Devon for over 45 years. Founded in 1979 by Kevin’s late father, the business has grown under the guidance of Kevin and Anna Heywood, who have overseen its evolution into an award-winning enterprise. In 2023, A J Heywood & Sons was recognised as Contractor of the Year at both the British Farming Awards and Farmers Weekly Awards, a testament to their dedication and passion.

Insights to cultivate growth

As the business expanded, Kevin and Anna realised they needed more robust financial insight to guide their decisions and support their growth. Their previous accountant, who had served the family for generations, was nearing retirement and struggling to meet their increasing needs. Recognising the necessity for a more professional and agriculture-focused financial partner, Kevin and Anna turned to Simpkins Edwards.

Knowing Simpkins Edwards had a strong local reputation and a deep understanding of the agricultural industry, A J Heywood & Sons felt confident in their decision. The transition was further reinforced by recommendations.  

From the outset, Simpkins Edwards recognised the business required more than just the standard accountancy services. The firm provided Kevin and Anna with clear insights into their income, expenses, and cash flow. This information proved crucial, particularly in dealing with the unpredictability of the weather and coping with wet seasons. Being able to have a clear picture of finances enables you to make quick decisions when unexpected events occur, rather than waiting until the year-end to assess the situation.

Navigating tax complexities

One of the key challenges faced by A J Heywood & Sons was purchasing another house, which posed complications due to depreciation and tax issues affecting the mortgage process. Simpkins Edwards assisted by balancing tax-efficiency with helping demonstrate the business’ profitability so the Heywoods could access the finance required.

Furthermore, Simpkins Edwards provides year-to-year reviews, helping A J Heywood & Sons navigate their tax liabilities, plan for the upcoming season, and manage their financial health with precision. This proactive approach allows the business to make informed decisions, avoiding the pitfalls of guesswork.

On the same team

In great support of the relationship between Simpkins Edwards and the Heywoods, is Verity, a team member who previously worked at Simpkins Edwards and now handles the finances for A J Heywood & Sons in-house. Her deep knowledge of both organisations ensures a seamless handover and maintains the high standards of financial management.

The collaboration between A J Heywood & Sons and Simpkins Edwards highlights the importance of having a trusted financial partner. With real-time insights, proactive planning, and expert support, A J Heywood & Sons has strengthened its financial foundation while enhancing its ability to serve the local agricultural community. As Kevin notes, "Understanding whether our business is performing well or facing challenges, and having the ability to look forward, is what we need. It allows us to make informed decisions based on facts, rather than guesswork, with consistent support from Simpkins Edwards."