Speaking form our own experience over the past 5 months we would like to pass this on to any local businesses within the Penrith and Eden area following our catastrophe flooding in April and what as a business have had to do and go through since then with all insurance teams, Landlords loss adjustors, assessors requirements to process our insurance claim
We have had to produce over the past 5 months
• Receipts from purchases on damaged equipment and materials
• Obtain copy invoices if needed from suppliers
• Some dating back over 3 years
• All bank statements and invoices to match all purchases for the past 5 years
• 2017 accounts
• Draft 2018 accounts
• Draft management accounts from 1st Jan to 31st July 2019
• All cash purchases invoices
• All Vat returns to date since 2017
• All cash sales – online sales – merchant card machine sales proofs
• All completed certification for Maintenance
• All Statutory testing certificates for Gas, Electric and Boiler servicing
• All check sheets on equipment and maintenance records
• All photographs before and after of before and after damage
• Meet loss adjusters loss assessors to run through everything
• Inspections on equipment and testing for refurbishment or non-refurbish able
• Loss of Business interruption calculations
• Proof of Membership payments
• Proof of income and proof of loss of income
• Proof of trying to mitigate on-going losses for insurers
• Clarifications on specification on Floorings
• Obtain contracts and legal documents on liabilities for us and the landlords through our legal team
This is an insight into what we have done to date, make sure your business is ready for such an eventuality, fingers crossed it never does happen.
We never thought this would happen to us and wouldn’t want any local business to endure the same as what we have for the past 5 months or any amount of time.
Be prepared, even if you are busy daily at work, take time to make up a file with all your documents and above in this, it wouldn’t go a miss when you have nothing to do.
This would be our advice to any local businesses, as you never know when and if anything could ever happen.