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ANNOUNCEMENT

Thank you for visiting the Wontner Smith web site.

This site is currently undergoing alterations and so a tour has been arranged giving a brief background to the Company and its services.

During the tour you will see links to more detailed pages which will eventually be incorporated into the full web site. The content of some of these pages has already appeared in various forms in trade periodicals such as the Licensee and Morning Advertiser, and the Caterer Series.

You may visit these pages and return to the tour at any time, or you may go directly to the tour end for contact information.

Links that are not active will be available shortly.

We apologise for this restricted site and hope to be fully operational again soon.

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SERVICES

Periodic fully extended stocktakingThis gives itemised printouts including valuations for sales at cost and selling, stock on hand valuation, profit margins, stock holding, sales ratios etc.

Trading accountA less comprehensive report showing cost valuations only

Food stocktaking Till reportsBarrelage reports Customised reportsValuations for Changeovers & Year Ends

In most cases, if desired, the work can be completed and reports printed on site.

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Why have StocktakingWhy have Stocktaking

Benefits of Stocktaking

Why employWhy employ

The Professional Stocktaker

What to expectWhat to expect

Cost of employing

THE SYSTEM

The original Wontner Smith system involved the stocktaker visiting the client to count the stock and gather information from purchase invoices. This information would be taken back to the office where it would be worked out and checked (usually using a ready reckoner). The result would then be hand-written in a custom made booklet and sent out to the client. Later the results were typewritten.

In 1982 the company turned to computerisation to enhance the service and make available more information in the reports. The software was developed around the original manual system in order to retain some of the human factor and keep many of the safeguards previously used to check accuracy. This way errors and anomalies could be found before the information was fed into the computer.

In 1986 mobile computers and printers made it possible to produce full on-site printed results before leaving the premises.

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LOCATIONThe Company offices were originally based in and around the City of London, from where the stocktakers were able to use the public transport system to visit clients in all parts of London and the surrounding counties.

This made it more practical to arrange visits to clients who were close to each other. Gradually the mode of transport changed to the motor car and it became possible to get to clients in a wider area on the same day.

This created further difficulties with parking near the office and eventually in the late 1960’s, the office was moved to Bexleyheath, and the client base gradually became concentrated in the South East.

Bexleyheath, with its close proximity to the M25 and Dartford Crossing gives easy access to the road networks of Essex, Kent, Surrey and Sussex, and it is in these areas that the Company now focuses its activities.

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The original Wontner Smith & Co. provided both a stocktaking and accountancy service. When the company acquired the stocktaking firm of George A. Bacon Ltd (from which several of the early partners had originated) the two factions went their separate ways with the accountants keeping the old title.

The stocktaking department had always concentrated its activities on the licensed trade and for the first half of the 20th.Century the role of the gauger was still important and so this title was incorporated in the new name.

With the abolition of Resale Price Maintenance in the 1960’s this made the valuation of Off-Licensed premises less exacting and so the decision was made to direct activities to the On-Licensed trade.

Technological advances have meant that the need for office staff has dwindled and made it possible to ‘take the office to the client’.

THE COMPANY

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9 Springfield Road Barnehurst BEXLEYHEATH Kent DA7 6DX

To discuss your requirements please contact Tony Last

Telephone: 01322 523186

E-mail….tonylast@wontnersmith.co.uk

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THE COST OF EMPLOYING A PROFESSIONAL STOCKTAKER

People are often reluctant to employ a professional stocktaker because of concern for the cost involved. I prefer to think of it as self-financing as the benefits of regular stocktaking can often save more than the actual fee charged.The mere fact that controls are in place can often lead to a tightening up and raise profit margins. On an establishment taking in excess of £2000.00 per week, an increase in profits of one percent is often sufficient to pay for regular stocktaking.The costs involved need to be offset against the losses that can be identified and rectified. Losses can be a result of many factors including dishonesty, poor

training, excessive wastage, bad

dispensing and so on.If the stocktaker is provided with delivery notes as well as invoices, then these can be checked to ensure correct charging. I would not attempt to count the number of times each month that I encounter anomalies on invoices and often have to draw a client’s attention to price increases that would otherwise be missed.Stockholding can be regulated so as to increase cash flow.These are just some of the benefits and I would pose the question “can you afford not to employ a professional stocktaker?”The writer, Tony Last, is principal of Wontner Smith (S & G) Ltd.

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Benefits of Stocktaking

Check that your takings are what they should be.

Keep track of price changes.

Keep an eye on stockholding.

Check that you are being charged correctly for what you receive.

Tills zeroed at time of stocktake.

Profit margins on every sale item.

Check that your profit margins are correct.

Keep track of individual sales.

Keep an eye on barrelage.

Show the tax and the vat authorities that you are managing your business responsibly.

Provide independent, unbiased reports.

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