01392 288555

Financial Reporting Standard 102 will become the new accounting standard for unlisted medium and large sized companies in the UK. It applies to accounting periods commencing on or after 1 January 2015 however there will be a need to restate comparatives where differences in the new accounting treatments arise. There is an option to adopt early if you wish for any accounting periods ending on or after the 31 December 2012 however we feel that early adoption is unlikely for most companies.

A number of key accounting differences arise on implementation of the new standard. Please come along to one of our breakfast business briefings where we will be discussing the differences in more detail, or please contact Shona Godefroy, Head of Audit and Assurance, on 01392 288555.

Our Business Briefings are taking place on:

Tuesday 11th November - At The Barnstaple Hotel, Barnstaple, EX31 1LE


Tuesday 18th November - At The Devon Hotel, Exeter, EX2 8XU


08.00 - 08.30 - Breakfast and Networking

08.00 - 09.30 - Presentations and Questions

Please RSVP to Olivia Burls - events@thomaswestcott.co.uk or 01392 288555



CLICK HERE to read all the latest agricultural news, in our Autumn 2014 Agricultural Newsletter.

If you have any questions regarding the topics covered in our newsletter please contact Edward.jenner@thomaswestcott.co.uk




We are delighted to announce that we have launched a Manufacturing & Technology specialist team, Chris Hill, Partner in our Exeter office will be heading up the team, the other members are Shona Godefroy (Exeter & Plymouth offices), Mark Tibbert (North Devon offices) and David Cresswell (Barnstaple office).

A newsletter has also been launched in conjunction with the new team, please CLICK HERE to read.

We hope you find the newsletter interesting and informative, if you have any comments or questions about the newsletter or the team, please do not hesitate to contact us.
Chris Hill 01392 288555 or chris.hill@thomaswestcott.co.uk




This year the Thomas Westcott Charity Golf Day in aid of the South West Multiple Sclerosis Centre will be held at Teignmouth Golf Club on the 2nd October, the event has been running for many years and is a fun day of golf followed by dinner.

There is still time to enter a team, if you have any questions about the day or would like to enter a team please contact steve.cresswell@thomaswestcott.co.uk or call 01271 374138



Dear North Devon Businesses,
I am writing to you as Trevor Stanbury, the Tourism representative Director on the Board of North Devon+. For the sake of clarity, I was the founder and Director of the North Devon Marketing Bureau which later became part of North Devon+.

Sadly, I have to inform you that our two District Councils have withdrawn their funding from Tourism marketing.  As you will be well aware it is essential that North Devon is able to compete both nationally and internationally in tourism. The marketing of the region not only helps to fill the beds but the vast secondary spend by people on holiday supports the Attractions, Restaurants and also the high streets of our towns and villages along with the many other ancillary businesses as well.

I have been in discussion with the original directors of the North Devon Marketing Bureau to try and find a way out of the predicament that we now find ourselves in. Firstly, identifying the things which we believe are the most critical to safeguard and maintain our market share in a very competitive market place and have decided to call an emergency conference on the 24th September at 11 am at the Queens Theatre in Barnstaple with one main item on the agenda: ‘Do you want a marketing campaign for North Devon?’ We anticipate being finished before lunch time! I hope that by working together we will be able to find a solution. THE FUTURE OF YOUR BUSINESS DEPENDS ON IT - PLEASE COME.
You will see from the North Devon Journal that several of our main wholesalers and shopping outlets are already supporting this new initiative.
Rudi Lancaster, owner of the Woolacombe Bay Holiday Parks is in full support of this initiative and shares my concern about the impact a withdrawal of council funding will have on all businesses in North Devon: ‘As an ex Board member of the North Devon Marketing Bureau I believe it’s imperative that we all pull together at this point in time.’
Peter Brend, of The Brend Group is also supporting this plan: ‘The tourism industry is extremely important to the North Devon economy and we must find a way to support it in 2015.’
Wednesday 24th September at the Queen’s Theatre in Barnstaple. To register please CLICK HERE.
(Registration from 10.00am, conference start 11.00am)

If you cannot attend the conference but would like to provide comments please CLICK HERE.
It is vitally important that we maintain our presence in the national and international market places.
My mobile phone number is listed below for anyone who would like to speak to me.
Yours sincerely
Trevor Stanbury MBE
The Milky Way Adventure Park
Clovelly, Bideford, North Devon, EX39 5RY
Mob -  07977 509053
Tel - 01237 431255
Web -  www.themilkyway.co.uk


North Devon+ is the Destination Management Organisation for North Devon and Exmoor
Our vision is for North Devon and Exmoor to be an attractive and vibrant place to live, learn, work and visit based upon a high quality environment and a prosperous and sustainable economy.

The National Minimum Wage will increase again from 1 October 2014.  Rates will increase from: 

  • £6.31 to £6.50 an hour for workers aged 21 and over.
  • £5.03 to £5.13 an hour for workers aged 18 to 20.
  • £3.72 to £3.79 an hour for workers aged 16 to 17 above school leaving age but under 18.
  • £2.68 to £2.73 an hour for apprentices under 19, or 19 or over and in the first year of their apprenticeship.

The Daily Accommodation Offset

You will be able to offset from the NMW an amount of £5.08 per day for each day that you provide a worker with living accommodation (weekly maximum £35.56).

It is important to note that these new rates only apply to pay reference periods beginning on or after the date they came into law. If you want to discuss how this might affect you or your business or plan for future changes, please contact us.


The Autumn Statement will take place on 3 December 2014, George Osborne has announced. The Autumn Statement will provide an update on the government’s plan for the economy based on forecasts from the Office for Budget Responsibility.

Thomas Westcott will be providing commentary on the key points that are likely to affect our clients after the Statement.

We are pleased to announce that Thomas Westcott has been reaccredited with the Investors in People Award in recognition of the quality and training of its partners and staff.

The firm’s Chairman, Richard Thomas, said “I am delighted that the firm has now achieved this Award since 1996 which is a testament to the strength of its specialist teams and sector groups which are drawn from partners and staff across the firm”.

For the first time the firm’s wealth management division, Thomas Westcott Chartered Financial Planners, have also successfully achieved the ‘Investor in People’ Award.


Devon Community Foundation is a local charity that works with individual volunteers and volunteering groups/organisations to help get them the support and funding they need to continue their worthwhile work. 

Each year the foundation manages around £1 million of grant and funding monies, getting the money to where it really matters - to voluntary groups on the front line doing vital and life changing work in our local communities.

Devon Community Foundation also runs an award ceremony for volunteers of the year and this year Thomas Westcott is proud to be sponsoring the Volunteer-Ability Award.

Details of the shortlisted finalists for this award can be found on the following link and you can vote for the one you feel most deserves the award.  Please have a look and cast your vote.

Voting ends 1 September.


Thomas Westcott and Teresa Turner & Co. are very pleased to announce that the two accounting practices have joined together.

Teresa Turner & Co. has been practising in Barnstaple for many years.  Teresa and her team have all joined Thomas Westcott.

Thomas Westcott is an independent regional practice with thirteen offices in Devon, including North Devon offices in Barnstaple, Bideford, Ilfracombe and Holsworthy.

Teresa has assured all of her clients that “the team will continue to provide them with a friendly and professional service.  With the enhanced facilities of Thomas Westcott, the team will have access to further technical expertise and resources to develop the services offered.”

Steve Cresswell, a partner based in the North Devon Thomas Westcott offices said: “We are really pleased to be working with Teresa and her team.  We have the same interest in providing a full comprehensive and personal service to our clients.  We believe that this will be a positive, successful merger for all involved.