How we’ve been supporting our clients, Ideal Vending and Coffee Company Ltd

At EQ, we have spent the last few weeks supporting our clients through these turbulent times whilst we, like most other businesses, settle into working from home. We have ensured that our clients continue to be our priority, and that we remain in constant contact to provide relevant advice and support, every step of the way.

One of those clients is Ideal Vending and Coffee Company Ltd, a family run business in Dalgety Bay, Fife which was set up nearly 25 years ago by Managing Director, Stewart Hamilton. The business now operates with Stewart and his son Ross as directors with other son Stewart Junior and his wife Lynne also working in the business.

The company supply vending and coffee machines as well as ingredients for each to a variety of business sectors such as hospitality, retail, public sector, and many more. Along with the sale of these machines, customers can opt to rent these from the company and they also deal with the servicing of the machines. As many of their customers are closed due to COVID-19, the company is working with less staff in place over the period of lockdown but are still providing services to the public sector and those in the food industry.

Nobody could have prepared for the unforeseen circumstances we now face, but as businesses try to minimise the effects, it is our place as business advisors to guide and assist our clients throughout.

Steven Todd, Partner comments, “Whilst we’ve been working from home, we have discussed the various measures available with Stewart and the team, providing timely information on the announcements that could benefit the business, offering our support and advice.

“We worked quickly to provide up to date management accounts to 31 March, completed the year end accounts and provided support completing cashflow projections. This work not only supported a loan application but also provided the directors with an accurate and up to date position of the company finances. Once we had finalised the financials promptly, we assisted with the submission of the CBILS application, whilst having various discussions with the client’s bank throughout.

“Stewart, Ross and the team have fantastic passion and drive to move their business forward and we enjoy working with them, therefore, we want to ensure that the team has access to funding to get them through this period of uncertainty and so they can bounce back when the time comes.”

Steward Hamilton, Managing Director of Ideal Vending added,

“It’s been a very difficult time for everyone over the last few weeks, but I have been delighted at the speed and proactive service that Steven and Leanne at EQ have provided. This has allowed us to act quickly during this uncertain time. Their support for us, as a relatively new customer, has been nothing sort of superb and helped Ross and myself immensely during what has been a very worrying time, this support hugely reinforces that our decision to move our business to them was the right one. We look forward to working with Steven and Leanne at EQ for many years to come.”

The Ideal Vending team are still open for business, you can visit their website to find out more about them here – https://www.idealvend.co.uk/.

For more information on how we are supporting our clients, or how we can help you or your clients, please get in touch with the EQ team using the numbers below or speak to your usual EQ contact.