Management Accounts

Who needs this service?

When you are an owner of a growing business, you will feel that things go out of control very quickly. You are juggling many aspects of your business. You learn that all the resources come at a price. You may feel that you need to be in control of your business and finances. 

When you get a good summary of accounts at regular intervals, you can analyse them. When you get a clear picture of your finances, you can take control. For example, you have budgeted a set amount for your advertising spend. Without the management accounts, you may be left to guess how much money you have spent on your marketing. When you go through your bank statements, you may find that Facebook & Google is taking money from your accounts, but you don’t know how much the real impact is on your cashflows. 

What is included in our service?

When you hire us to prepare management accounts, we start with regular meetings to understand your business and its requirements. We then formulate a summary budget for next coming year. We will discuss this in detail. We also try to ascertain your expected requirements. Based on this, we can prepare a set of reports to help you retain control of our business.

Most typically, you can get the following

Profit and Loss account

Balance sheet

Cashflow forecast

Management accounts – FAQs

Yes,  you still need to file your company’s accounts even if your company has not traded during the year. When your company has not traded, it can be classed as a dormant company. In this case, you can file Dormant Company Accounts instead of filleted or full accounts. Our fees to prepare Dormant Company Accounts in only £100 plus VAT.