Case Study: Magic Door Pillows

Carbon’s relationship with Daniel Parry, owner of Magic Door Pillows, began in 2016 when our Accounting & Tax services were recommended by a business mentor. Dan met with Accounting & Tax Partner, Clinton Gibson, to discuss the details of starting a new company, Parry Contracting. It was at this meeting that Dan realised Carbon could take care of not only his accounting needs but all his bookkeeping and insurance needs.

In 2017, Dan had Carbon set up his second company, Danton Enterprises, which was created to manage the commercialisation of a patented electrical device he designed and was being manufactured in Taiwan. Not only did Carbon continue their accounting, bookkeeping and insurance services but we successfully delivered two years in a row the maximum R&D tax return, which amounted to a significant amount.

Having liked the efficiency of a multi-service firm, Dan engaged Carbon to launch his third project, Magic Door Pillows. Before reading the storybook, parents secretly put the Magic Door Pillow on their child’s bed. At the end of the book, there is a magic spell they read aloud, and it makes the Magic Door Pillow appear, with a letter from either the Dream Fairy or Sleepy Wizard asking to be named. From then on, the children can draw or write their dreams down and mail it to the pillow’s magic mailbox.

Since launching, Dan feels at ease with Carbon knowing that all his financial needs are being taken care of under one umbrella. This ensures answers are easy to find and brainstorming strategic decisions are accelerated.

Solutions

• Seamless communication between Carbon’s bookkeepers, accountants and brokers.

Carbon Bookkeeping & CFO Services:

• Manage all Magic Door Pillows bookkeeping.
• Xero setup and general reconciliation of all files.
• Quarterly financial statements and management reports.
• Quarterly lodgment of business activity statements (BAS).

Carbon Accounting & Tax:

• Annual financial statements.
• Tax planning and business strategy.
• Business tax returns.
• Individual tax returns.

Carbon Services

• Bookkeeping & CFO Services
• Xero Setup & Training
• BAS Lodgment
• Accounting & Tax
• R&D Tax and Grants
• Tax Planning
• Business Plan & Structure
• Business Tax Return
• Individual Tax Return
• Insurance Brokers

If you struggle to get your child to bed, check out Magic Door Pillows. Their magical bedtime routine will make any child love going to bed.

Rest assured knowing all your business needs are being taken care of at Carbon!

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