Accountancy firm celebrates 20 years

Waimarino Bulletin, Volume 6, Issue 265, 29 November 1988, Page 9

Accountancy firm celebrates 20 years

A company that now advises on the financial affairs of many Waimarino residents and businesses as well as a large number from around the North Island celebrates 20 years' service this month. Peach, Cornwall and Partners, Chartered accountants began in late 1968 when Bill Peach bought an accounting practice from Keith Shirley. Bill Peach was a Victoria University night school trained accountant who was admitted to the society of accountants in 1966. He was born and raised in Gisbourne and retumed there for a short time after graduating to work for National Accounting Practices. After a short time living in Raetihi once in the Waimarino, he moved to Holyoak Farm in Ohakune. He still lives there with his wife Lesley. "Originally I was the only staff, with my wife Lesley working part time," Bill says of the early days of the practice. Then the firm was located in the building that is now the Opportunity Shop in Seddon Street. The staff now numbers 14 including those that work for subsidiary companies. At first the accounting work was done in cash books or on a Burroughs bookeeping machine. Now the firm uses a Hartley mainframe computer with seven terminals. The fully integrated system contains all the information on line in two disk stacks, of 192 megabyte memory. "This represents an investment of $120,000 including the software," said Mr Peach. When, in 1973, the practice took on the administration of the boroughs of Ohakune and Raetihi the firm moved into the two boroughs' premises. The work was done for $6300 per annum with the firm reimbursing approximately $1000 per annum in rent for the offices. Mr Peach said the firm supplied most of the plant for the administration. It was during this time that Andrew Cornwall joined the accountancy firm, taking on the role of town clerk for Ohakune. Prior to his arrival Allan Martin was a partner in the firm, who acted as town clerk for both Raetihi and Ohakune. Mr Martin left the firm for a political career, later returning to accountancy in Whangarei. Initially the firm took on the work for a three year period which was extended to five years. "By this time Ohakune had attracted AHI to develop the skifield and the pulp mill to Karioi," said Mr Peach. He said the firm set up the town plan, used the funds from the sale of the Ohakune Power Station to upgrade Goldfinch and Mangawhero Terrace up to the ski field road entrance.

He said the firm raised the funds for installing the town's sewerage system which was essential as part of the town infrastructure if the mill and ski field were to proceed. In 1978 the firm built its present premises and subsequently extended them to their present size in 1982. Staff changes over the years include Barrie Singelton's arrival and departure. He was with the practice for three years

and is now manager of a superannuation company in Auckland. One of the present staff is Barbara Dobson who worked for Bill Peach in the early years of the company, left to marry and raise a family and is now back full time. Her daughter has also worked part time for the firm. Over the years the practice has expanded its services outside the Waimarino with substantial client bases in the Hawkes Bay, Wellington, Wanganui, Taihape and Hamilton. The firm's principal, Mr Bill Peach, has outside interests such as farming and Rotary as well as being a director of a number of companies. He is also chairman of the Wanganui Regional Development Council.