We understand small businesses
We are a full-service professional accountancy firm providing compliance and advisory services to small and medium size businesses and their owners; and we fully understand the challenges that you face on a daily basis.
Whilst annual accounts may be required to meet your business’ statutory obligations, they can go much further and can provide valuable information to help you make those important business decisions. For example:
- Identifying areas of the business for which you need to take immediate action.
- Is your business on course to meet financial targets?
- Are your overheads more than last year, if so, why?
- Are you in control of Wage/Salary overheads?
- Are there areas where cost savings can be made?
- How are your Gross Profit margins compared to last year?
- Are you likely to run into cash flow problems?
- Is your business growing too big, too fast?
- Is your business stagnating?
- How do you compare to Budget? Have you a Budget?
- Have you the necessary/sufficient information to apply for business loans or credit?
- Avoid big surprises at year end!
- Helps to identify seasonal differences.
- Helps to plan dividend payments and other remuneration.
- Take advantage of early tax planning opportunities.
If any or all of the above applies, then we offer:
Statutory or end-of-year Accounts
As part of all our standard service plans, end-of-year statutory accounts are included, as you would expect. Where relevant, these consist of a Profit & Loss account and Balance Sheet. For Sole Traders, this will consist of an Income and Expenditure Statement.
In preparation for discussing your Accounts, we will, typically analyse the Accounts and make note of any areas that may need addressing, especially when comparing to previous years. We will also discuss your future plans to confirm if any further measures need to be put in place. Discussing your Accounts can either be via telephone or most likely, by arranging a meeting typically lasting no more than one hour.
Management Accounts
For fast growing businesses, businesses needing to keep on top of their overheads, or those that are already well versed in the benefits of Management Accounts, we offer either monthly or quarterly Plans.
Both these Plans include;
- Identifying key performance indicators.
- Preparing a pack relevant to your business.
- Monthly or quarterly Profit & Loss Account and Balance Sheet.
- Profit & Loss by month and year-to-date.
- Help creating an annual budget.
- Projected Cash Flow forecast based on current and budgeted figures.
- Monthly or quarterly telephone or on-site meetings to discuss the accounts.
- Help preparing an action plan.
- Unlimited, on-going telephone support.
Cash Flow forecasts
We will work with you to create an annual budget of your revenue and expenses. This can either be a one-off, yearly forecast, or can be carried out monthly or quarterly. For monthly and quarterly forecasts, we will create revised year forecasts taking into consideration your actual results to-date.