An accountancy and auditing practice has been appointed by a luxury, Welsh gold jewellery specialist which has seen demand for its products boom since the UK lockdown.
Clogau designs and crafts unique pieces of jewellery using gold found in mines near the Snowdonian mountains. For more than 30 years, it has supplied members of the royal family with its pieces, with its presence on high streets and retail parks around the UK making it a household name.
In 2020, Clogau pivoted its business to an entirely online offering after Coronavirus guidance mandated the closure of its stores. Having invested significantly in its digital presence as well as TV advertising, it has seen a surge in sales from consumers who’ve identified additional dispensable income through lack of socialising and travel, and who wish to gift themselves luxury products.
Clogau had formerly used a top four auditor but market conditions disrupted the relationship, so approached the Champion team to tender for its auditing and payroll services.
Champion will commence its audit with the firm in coming months, delivering its highly acclaimed service using socially distanced site visits and various digital means to complete on time.
Danny Evans, finance director at Clogau, said: “We are delighted to appoint Champion Accountants as our new auditors. We were most impressed with their knowledge and understanding of the Clogau brand and attention to detail at every level.
“Clogau was able to not only survive the unprecedented year that 2020 presented, but to truly thrive as a business. Having Champion on board as auditors will ensure that our small network can be better supported as we look forward to continued growth and success through 2021.”
Andrew Hopwood, director at Champion Accountants, said: “Businesses like Clogau, which show true tenacity and agility in the face of a challenge as significant as Covid-19, are destined for great things and we’re pleased their quick actions in March 2020 led to a year of success in what were otherwise challenging trading conditions.
“Stock takes and audits have proven particularly difficult in recent months; many auditors have flatly refused to visit sites leaving customers concerned about whether their audit can be completed. Like Clogau, we have adapted our offering to ensure we can go ahead with audits safely and have been able to continue delivering this service throughout the pandemic, albeit from a social distance. We have utilised digital solutions as and when necessary, in situations where we are confident there would be little to no disruption to our provision.
“By taking a practical and pragmatic approach, we have been able to support our clients throughout this difficult period as well as relieving any concerns about compliance with regulatory obligations. This is exactly how we’ll deliver our services for Clogau, and we look forward to working together for many years to come.”