A Leicestershire poultry farm who we have been advising for over 40 years has been able to increase its production and profitability after investing in new machinery. Thanks to our ongoing financial advice, Sunrise Eggs was able to benefit from the research and development (R&D) tax credit, saving over £80,000 in tax following the purchase and installation of a £1.6 million egg sorting and packing machine.
Sunrise, which farms several thousand free range and colony chickens, now produces and packs over 3 million eggs per week. This is up from 2.25 million eggs before the purchase of the new machine.
Brothers Phill and Ady Crawley have run the business together since their father passed away in 2009. Tony Crawley founded the company with his wife Sheila in 1973, leaving behind a career as a Nuclear Physicist to seize an opportunity in egg production.
The new machine grades the eggs into four sizes, removes the second quality and cracked eggs and then packs them ready to be distributed across the country to a number of major and independent retailers and food service accounts. It also provides the firm with better efficiency and capacity for future growth.
Sunrise Eggs has used our services for their annual accounts and audit since the mid 1970s and the brothers did not hesitate to call upon the firm for advice when considering how best to grow the business.
Phill said, “Without the advice from Newby Castleman we wouldn’t have known about the tax credit available to businesses like ours. The savings have been a huge help and have enabled us to move along with our growth plan.”
Ady added, “This has been a major investment for the business but one that helps us now and in the future, giving us room for further growth in the long term.”
David Hastings, Partner at our Loughborough office, said, “If a company makes innovative use of science or technology to develop or significantly enhance products, services or business processes, they may be entitled to claim research and development tax credits to help offset some of the costs of the investment.
Despite being around for the last 10 years, many companies are still missing out on claiming their entitlement. This relief is specifically designed to promote more investment in R&D by UK companies and the benefits can be significant.”
Sunrise Eggs currently employs 80 people at its farm on Seagrave Road in Sileby. For more information visit www.sunrise-eggs.co.uk.
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