Wire Belt is a leading manufacturer of stainless steel conveyor belts with manufacturing plants in the UK, America and Germany and distributors across the globe. The UK operation, Wire Belt Company Ltd, is based in Sittingbourne, Kent with a dedicated production facility employing over 70 people.
The open mesh steel belts produced are used in industries ranging from food processing and printing to pharmaceuticals and engineering. Clients include some of the most well known names in the food industry from frozen food specialists to makers of luxury chocolates.
Gary Allen, UK Managing Director at Wire Belt explained “We have worked with Kreston Reeves since 2004. They handle our audit, accounts and corporate tax and provide ad hoc business, tax and VAT advice whenever we need it.”
Wire Belt has to prepare its own consolidated accounts to incorporate its five trading subsidiaries and is also consolidated within the accounts of its US parent. Tim Keevil, Financial Controller at Wire Belt commented "Kreston Reeves work with our auditors in Germany to produce our consolidated accounts. They also have to liaise with our US auditors as part of the wider group consolidation. Both audit firms are always extremely complimentary of Kreston Reeves and recently commented how smoothly the consolidation process went and how the information provided was perfect for their requirements. This makes everybody's life easier."
Despite the challenges presented by the current economic environment, Wire Belt has managed to maintain trading volumes. Over 60% of the company’s turnover is due to exports with particularly significant sales to America and France.
Gary Allen added “At Wire Belt we are always looking to the future and for ways to improve our environmental performance. We take our environmental responsibilities extremely seriously and have worked hard to build this into our thought-process, strategy and operations. We are committed to managing and limiting the environmental impact of all aspects of our company which has resulted in us becoming energy neutral. It’s important to continue to innovate and push ahead with new ideas. The benefit of working with Kreston Reeves is that their forward thinking approach ensures we receive the best possible financial and taxation advice over how large projects are financially organised.”
For more information on Wire Belt please visit www.wirebelt.co.uk/