Reply to: SJD - Whats going on there??!

[Waldorf]

I went off the Sovereign quoted figures and the basis that SJD’s revenues were 80% as did all reports at the time.

https://www.sovereigncapital.co.uk/o...ices/optionis/

Fair enough but it was misleading and now shown as bring incorrect. Having said that the subsequent purchase of Clearsky & Parasol will have taken their total investment in this sector to over £120 million.

[mudskipper]

Simon Dolan and AtW : we are spoiled with no fewer than two successful businessmen choosing to waste their time on this forum

[northernladuk]

Tell Simon we all wish him luck, I'm sure.

You looked a bit daft with the first comment but to have a second pop? Really?

[simondolan]

once you realise money alone doesn't bring happiness you need to get back to doing something that actually fulfils you

I never said it doesn't bring happiness!

[Fred Bloggs]

Yep, its me. Why did I come back? Well, its a market I love - been in it since 1993. I get to start up again from scratch with all the accumulated knowledge, work with the best people I used to work with, and yes, build another successful business I hope.

Tell Simon we all wish him luck, I'm sure.

[pr1]

who could be bothered coming back to all this with £80m in their pocket

once you realise money alone doesn't bring happiness you need to get back to doing something that actually fulfils you

[simondolan]

It is Simon as the investment posts clearly hint. And I suspect the answer for the second bit is a combination of boredom and providing work for people who have left sjd as its declined..

Yep, its me. Why did I come back? Well, its a market I love - been in it since 1993. I get to start up again from scratch with all the accumulated knowledge, work with the best people I used to work with, and yes, build another successful business I hope.

[eek]

And you think it is the real Simon Dolan here?

It is Simon as the investment posts clearly hint. And I suspect the answer for the second bit is a combination of boredom and providing work for people who have left sjd as its declined..

[Fred Bloggs]

who could be bothered coming back to all this with £80m in their pocket

And you think it is the real Simon Dolan here?

[craigy1874]

who could be bothered coming back to all this with £80m in their pocket

[Andy Hallett]

I went off the Sovereign quoted figures and the basis that SJD’s revenues were 80% as did all reports at the time.

https://www.sovereigncapital.co.uk/o...ices/optionis/

[Waldorf]

It’s tough to keep up with world of Accountancy firms.

However, my understanding:

- Mr Dolan sold SJD for a tidy sum to Sovereign Capital. (Circa £80m)
- Sovereign purchased Nixon Williams at same time. (Circa £20m)
- Said companies merged under Arkarius group
- Roll on a few years there was a further merger, takeover, reverse with Optionis (Parasol and Clearsky)
- Mr Dolan, now free of hand cuff clauses returns to the market to take on company bearing his initials and others.

[gets popcorn]

Good summary apart from the sums quoted. If you search on via the free Companies House site for Optionis Group (used to be called Arkarius] and look at the accounts for the period ending 31st October 2014 and then look under note 11, you will see the total paid for both businesses was just over £81m not £100m.

Clearly the new PE owners are looking to exit at some point and are cutting costs to boost short term profits but the fall in service levels that has resulted is a shame. It is telling that the accounts show a decrease in staff delivering the accounting service but a huge increase in head office staff who clearly have no experience in this sector.

[simondolan]

It’s tough to keep up with world of Accountancy firms.

However, my understanding:

- Mr Dolan sold SJD for a tidy sum to Sovereign Capital. (Circa £80m)
- Sovereign purchased Nixon Williams at same time. (Circa £20m)
- Said companies merged under Arkarius group
- Roll on a few years there was a further merger, takeover, reverse with Optionis (Parasol and Clearsky)
- Mr Dolan, now free of hand cuff clauses returns to the market to take on company bearing his initials and others.

[gets popcorn]

Its a pretty good summary....

[eek]

Totally agree, these guys have gone down hill totally.

They quote 4 weeks for Corporation Tax turnaround - so I submitted everything - 4 weeks later minus 1 day(!) they come back with a load of queries, answered the same day. Another 2 weeks for draft accounts, obviously they've made a few mistakes missing the answers to the questions asked and answered. Seven weeks later...still waiting.

If anyone knows of a better service please enlighten me!!

Any freeagent accountant. Mine took 3 weeks all in and most of that was me sorting out the submission code for companies house

[faxfan]

Totally agree, these guys have gone down hill totally.

They quote 4 weeks for Corporation Tax turnaround - so I submitted everything - 4 weeks later minus 1 day(!) they come back with a load of queries, answered the same day. Another 2 weeks for draft accounts, obviously they've made a few mistakes missing the answers to the questions asked and answered. Seven weeks later...still waiting.

If anyone knows of a better service please enlighten me!!