From Yorkshire to London businesses: Wakefield accountants combine personal service with specialist expertise

DMP Accountants & Valuations is a brother-and-sister-run accountancy firm established in Wakefield, in the heart of Yorkshire.

Founded by Hussnain Shakil and Ramsha Fatima, the firm supports businesses locally across Wakefield and Yorkshire, while also working with a growing number of clients in London and across the rest of the UK.

Wakefield may be known as the historic home of the Yorkshire forced rhubarb industry, but it is also home to a growing number of ambitious businesses, entrepreneurs and family-run companies. DMP was created to give those businesses access to clear, responsive and commercially focused accounting support.

The firm works mainly with company directors, entrepreneurs and owner-managed businesses. Its services range from annual accounts, Corporation Tax, bookkeeping, VAT, payroll and Self Assessment through to more specialist areas such as business valuations, share option valuations and financial reporting following company acquisitions (known as purchase price allocations (PPAs).

They also provide credit control functions, and have just helped a company in Pontefract reconstruct their debtor ledger function, meaning they are now assisting them with debt collections of more than £200k.

Straightforward accounting at a clear price

One of the main aims behind DMP is to make professional accounting support more accessible.

For smaller limited companies with turnover below the VAT-registration threshold and straightforward records, such as bank statements or CSV files, DMP offers annual accounts and Corporation Tax services from £279, with its standard fixed-fee service priced at £299.

The service is designed for business owners who want their accounts prepared and filed properly, without being pushed into a monthly package they may not need.

Hussnain Shakil said: “Not every small company needs an expensive monthly accounting package. Some business owners simply want their annual accounts and Corporation Tax return completed properly, at a clear price, with good communication throughout.

“We wanted to offer something that was affordable and straightforward, without reducing the quality of the work.”

The firm places particular importance on fast turnaround, clear communication and transparent pricing.

Clients know what the service costs from the outset, what information they need to provide and what is included.

For businesses that require more support, DMP also provides monthly accounting packages, bookkeeping, VAT returns, payroll, tax planning and ongoing business advice.

A Yorkshire firm with a strong London client base

Although DMP was founded and established in Wakefield, its work is not limited by geography.

The firm supports clients throughout Yorkshire and has developed a particularly strong client base in London, where many business owners are increasingly comfortable working with accountants remotely.

This allows London-based companies to receive direct and responsive support from an experienced firm, while often avoiding the higher fees associated with some central London practices.

DMP also supports clients throughout the wider UK using a digital-first approach, with meetings and communication arranged around the needs of each business.

Hussnain said: “We are proud to be a Wakefield firm and proud of our Yorkshire roots, but a large part of our client base is now in London.

“Business owners are no longer choosing accountants purely because they have an office around the corner. They are choosing firms based on expertise, communication, value and whether they feel the accountant genuinely understands their business.”

More than annual accounts

Alongside its work with small businesses, DMP provides specialist valuation and technical accounting services.

Before establishing the firm, Hussnain worked in technical accounting and valuation roles, preparing detailed reports for businesses, management teams, investors and auditors.

This experience now forms an important part of DMP’s specialist offering.

The firm has completed valuation work involving businesses valued between approximately £10 million and £59 million, while Hussnain’s earlier professional experience included assignments involving considerably larger companies.

These services are often needed when a business is being bought, sold, restructured or preparing to introduce new investors or employees as shareholders.

Why would a business need a valuation?

Many business owners assume a valuation is only needed when they are preparing to sell their company.

In reality, a valuation may be required for a number of reasons.

A business may need to understand its value when bringing in a new shareholder, issuing employee share options, raising investment, buying another company, transferring shares between family members or planning for a future sale.

A valuation can also help settle shareholder disagreements or provide evidence to support tax and financial reporting decisions.

DMP provides business and share valuations, including work relating to growth shares and employee share option schemes.

These arrangements are often used by growing companies to reward and retain key members of staff, but the value of the shares being offered must be considered carefully.

Accounting for company acquisitions

DMP also prepares purchase price allocation reports following certain company acquisitions.

Although the term sounds technical, the principle is relatively straightforward.

When one company buys another business, the total purchase price may need to be divided between the different assets and liabilities acquired.

This can include physical assets such as equipment and property, but also less visible assets (known as Intangible asset allocation) such as the company’s brand, customer relationships, contracts, technology or intellectual property.

The report explains what has been acquired, how the value has been allocated and how the transaction should be reflected in the purchaser’s financial statements.

Hussnain said: “This type of work can appear complicated, particularly to an owner-managed business completing its first acquisition.

“Our role is not just to produce a technical report. It is to explain what the numbers mean, why the work is required and how it affects the business going forward.”

Why clients choose DMP

DMP aims to combine the personal service of a family-run practice with the technical experience more commonly associated with a larger firm.

The business was built around a few straightforward principles: respond quickly, communicate clearly, charge fairly and provide advice that business owners can actually understand and use.

Ramsha Fatima said: “As a brother-and-sister-run firm, the reputation of the business is personal to us.

“We want clients to feel comfortable asking questions and to know who is responsible for their work.

“Good accounting is not only about preparing figures and meeting deadlines. It is also about being available, explaining things properly and making the process easier for the client.”

From straightforward annual accounts for a small company to specialist valuation assignments involving multimillion-pound businesses, DMP provides support based on the size, needs and stage of each client.

The firm continues to grow from its Wakefield base while supporting an increasing number of clients across London, Yorkshire and the wider UK.

Key services

DMP’s services include:

• Limited company accounts and Corporation Tax returns
• Accounts and Corporation Tax services from £279
• Monthly accounting packages
• Bookkeeping and VAT returns
• Payroll
• Self Assessment tax returns
• Business and share valuations
• Growth share scheme and share option valuations for Accounting
• Purchase price allocation reports
• Financial modelling and business advisory work

To find out more about DMP’s work and how they can help you, visit the website here.