Getting to grips with your financial statements
As a businessperson, you need to be able to manage your finances in such a way that you can ensure the long-term viability and profitability of the business. For many people having to prepare annual accounts or regular management accounts can be difficult and time-consuming. At Griffiths Marshall we can take the strain out of your accounting activities, leaving you to focus on what you do best – run your business.
From preparing year-end accounts to undertaking due diligence work if you are looking to buy a business, we can take care of all your requirements. From sole traders and partnerships to large companies, you can be sure of a professional and timely service at all times.
Specific activities we can undertake for you include:
- Year-end accounts preparation, including non-audited company accounts
- Management accounts preparation
- Cash flow setting and updating
- Profit forecasts
Reasons for having up to date accounts
As well as providing annual financial records for HM Revenue & Customs, your business would also benefit from up to date accounts to satisfy the following activities:
- If you are looking to raise finance through grants, funding sources or financial institutions
- Providing your bank with confidence in your business if they have provided funding
- An assessment of the business’ performance for your directors or shareholders
- Should you wish to sell the business in the future
In addition to due diligence work, we are increasingly becoming involved with the preparation of accounts for probate work. In one instance we saved a client over £5,000 in doing so, and provided them with the accounts and information they needed within a six-week period - a much shorter timescale than had been expected if the solicitor had done it!
Furthermore, we have experience of working with a wide range of businesses from sub-contractors to engineering companies and market gardens, and are regularly asked to provide accounts for doctors, farmers, solicitors, pension schemes, property lets and IT contractors.
We are members of the Professional Contractors Group and are therefore able to advise all contractors on the latest issues, which are likely to affect your business.
Delivering that little bit extra
Whilst preparing your accounts, we routinely check to see if there are any areas where you could reduce your tax liability or make improvements to the running of your business. You can be sure that if we spot any opportunities we’ll let you know!
For more information on our accounting services please contact us on 01452 520000.