Manufacturing
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LAP Electrical Case Study
LAP Electrical is a privately-owned UK manufacturer of electro-mechanical products for the automotive, construction and agricultural vehicle markets, employing 75 staff at its base in Birmingham’s Great Barr district. LAP’s enviable client list includes Ford, Aston Martin, JCB and Caterpillar plus many other big brands in the automotive and transport industry.
The company has been a client of Friend for well over 10 years. LAP’s directors are Tony Greenfield and Gerry Carty, and they explain more about the firm and it’s relationship with Friend:
We currently export our products to over 40 countries, ranging from Europe, South America to South Africa and Australasia to the Far East. All of our design, production and management functions are carried out in-house and we are very proud of our UK manufacturing reputation.
We have been working with Malcolm Friend for well over a decade now and he oversees our annual audit which is always conducted efficiently, quickly and with the minimum of fuss and disruption. He is always on hand to discuss the commercial and financial issues that affect our business and we value highly, his input and experience gained from advising a wide range of manufacturing clients.
Malcolm has helped LAP with a range of matters covering such topics as the rationalisation of minority shareholdings and purchase of own shares, grant applications and the pension scheme.
Friend have provided great support with sensible tax planning advice that has worked extremely well for both LAP as a business and for us as owners and directors.
Rewarding Innovation
LAP has a specialist research and development facility with a strong focus on new product development, innovation and subsequent investment. Friend have helped us to maximise our claims for the enhanced R & D tax relief which has been invaluable in helping us to reduce our tax exposure over the years, enabling us to re-invest the tax savings in the business.
We value highly the personal connections we have with the partners and staff at Friend and working with them has been very rewarding for us in terms of the support and guidance they have given us. Find out more about our friends Lap Electrical at www.lapelec.co.uk
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