This marked growth for the Glenrothes-based firm, established in 2018, comes alongside a 25% increase in staffing levels, reflecting a growing UK-wide client base that now exceeds 100.

It’s the first time the firm has hit the seven-figure milestone, with founder Laura Taylor targeting £1.5m worth of sales in the coming year.

Ms Taylor said: “It’s a special way to mark five years in business and a proud moment for of all of us. Our client retention has been good and we have hired some key individuals who have played an important part in our growth over the past 12 months.

“We are one of the few accountancy businesses of our size to hit the £1m mark without being backed by private equity. We have grown organically since day one and all credit to the team for the work they have put in.

She continued: “The business will keep growing and I believe a target of £1.5m over the coming year is well within our reach. We take great care in who we bring on board and there’s no doubt that people are the key to our success.

“We have a good team behind us with a really good culture and we genuinely want to help construction businesses. It’s been a tough year for the construction industry but we are well placed to help firms navigate their way through the current economic conditions.”

Director Graeme Morrison added: “We have exciting plans ahead for the business which will see us continue to grow over the next year. To reach the milestone of a £1m turnover is a proud moment and we’re all looking forward to the next phase of Empowered’s journey.”