Ken Maggs BA (Hons), FCA – Partner
Ken’s approach to his clients is to offer advice and support tailored to their needs and to help them head in the right direction to achieve their business goals. He understands that every large business starts out as something much smaller and that with the right approach, ambition and advice, every firm can achieve growth.
As a result, a favourite aspect of his work is looking back on his clients’ success and seeing how his input – from helping a business to meet its regulatory requirements to assisting with expansion into new overseas markets – has played a part in their achievements.
His varied client portfolio currently includes sole traders and companies just starting in business, charities with all ranges of incomes, expanding trading companies with international divisions, the accounts and the audits of trading groups and the audit of a mail order subsidiary of a Dutch parent company with turnover in the region of £15 million, where Ken’s work includes reporting to the Dutch finance director and the primary auditors.
Ken, who was born and bred in South Lincolnshire, trained and qualified as a chartered accountant in 1995 with a small, local firm, after graduating in Accounting and Finance from Nottingham Trent Polytechnic’s Business School. Before joining Moore Thompson in 2000, he spent five years with top 20 accountancy firm Saffery Champness, where his portfolio included multi-million pound landed estates and wealthy individuals, along with their respective corporate entities, groups of companies and a wide range of small businesses.
During this time, his work included accounts preparation, budgeting and financial projections and assisting in the listing of companies onto the AIM market. He was also involved in the audit of a listed utilities company, which required reports to the audit committee and water regulator Ofwat as well as statutory reporting on financial matters to the company’s stock exchange advisers.
Other audit experience has included managing the complex audit of a group containing a leading Premier League football club, which covered the football club, a merchandising company, a travel company and a hotel, including reports submitted to the Premier League.
Whoever the client may be, Ken always provides feedback from their audit and accounts work and also offers advice where it is applicable, commercially viable and will add value.
Soon after joining Moore Thompson, Ken took over responsibility for the firm’s audit and accounts technical matters, on behalf of the managing partner. In 2004, he became a responsible individual for audit purposes – signing audit reports – and two years later, after becoming a partner, he took over the role of Audit Compliance Principal, which includes providing audit advice to other partners and assisting with risk assessments and the levels of testing required as a result of the risks.
His audit responsibilities enable him to continuously developing his technical knowledge, so that he can provide informed, commercially minded, client-specific advice on disclosure requirements. His current client portfolio includes many individual audit clients and groups and involves use of the International Financial Reporting Standards as well as UK Generally Accepted Accounting Practice.
Much of Ken’s work for his own clients and those in the wider firm revolves around the planning and implementation of systems and controls for the accountancy function. His expertise benefits Financial Conduct Authority-regulated clients within the insurance broking/agent sector, those requiring CASS 5 reporting and enhances the due diligence recommended for business acquisitions and disposals. In the process, he has established a good reputation for producing reports leading to beneficial price reductions.
Ken is a specialist in the not-for-profit sector and is able to offer advice to trustees over and above the financial accounts regulatory environment. As organiser of the South Holland Trustees Forum, he is continually in contact with a wide variety of trustees. This is an issue close to his heart as well as well as an area of professional expertise.
Outside work, Ken is a sprint coach for Nene Valley Harriers Athletics Club, mainly in an athletics context but also in hockey, rugby, football and international bobsleigh. As the club’s treasurer, the club has benefited from his professional expertise while Ken has gained hands-on experience of life in the voluntary sector.