Welsh accountancy firm, Kilsby Williams, has been appointed to audit national retail chain Poundstretcher, replacing BDO, who resigned last October
Established in 1981, Poundstretcher is a high-street brand with over 370 stores across the UK, including 26 in Wales, and reported annual turnover of £434m for the last year end in accounts filed in March 2020. In its fortieth year, the discount store chain has plans to further extend its presence across the country after negotiating a company voluntary arrangement last year.
Poundstretcher employs over 6,000 people across the brand’s chain of outlets and operates in the competitive value retail sector focusing primarily on the sale of value household items.
Ataf Salim, partner at Kilsby Williams, said: ‘We are thrilled to be working with Poundstretcher, using our expertise to support their growth plans. As an experienced, independent firm, we are pleased to be able to offer Poundstretcher a more personal and quality service that suits their needs.’
As a household name, the company sought auditors it could rely on to represent its brand and support its future growth plans. Kilsby Williams’ expert knowledge, technical ability and experience advising businesses in the retail sector led to the independent firm’s appointment.
Aziz Tayub, CEO at Poundstretcher, said: ‘We enjoy working closely with Kilsby Williams, who take our account very seriously and endeavour to share their expertise with us. We’ve been lucky enough to open brand new stores during the current pandemic and have relied on Kilsby Williams to support our success. We feel secure with our brand in their capable hands.’
Established in 1991, Kilsby Williams works with clients from across South Wales, the Midlands and London, ranging from sole traders to companies in international quoted groups.