If the £250m target is to be met, Tenon will have to almost double the revenues it reported last week, which were 12% up at £137.1m for the year to the end of June 2007.

Should Tenon hit the target, the company could leapfrog PKF, Smith & Williamson and Baker Tilly in the current revenue rankings to become the seventh largest accounting firm in the country.

Raynor said he had 'outstanding confidence' in the Tenon business model. 'This is a rapidly growing market and within the near future we should be hitting revenues of £250m,' Raynor said.

The bullish mood at Tenon is in stark contrast to the spirit within the company a year ago, when the business was struggling with a stagnant share price and forced to undertake a strategic review.

Since then, Tenon has undergone a remarkable transformation. In addition to double-digit revenue growth, Tenon's share price has climbed by more than 90% to 60p a share over the past 12 months.