We are able to offer a wide range of services in relation to your accounts and business activities, and can offer all potential new clients a free initial meeting to discuss their requirements.
Our team, which has a wide range of experience in many business sectors, can offer the following services:
Monthly/Quarterly Management Accounts
We can produce monthly or quarterly management accounts which will assist in monitoring your business’ financial progress during the financial year. This service can be provided for all kinds and sizes of business. The provision of regular and recent financial information can be extremely useful to you, the business owner, because it empowers you to make relevant decisions for your business based on up to date information. It is also very helpful to have management accounts if you wish to obtain more funding as banks and other financial institutions are increasingly asking for up to date management information.
Part of our process of producing management accounts is regular meetings with the client to discuss the business’ progress and future plans, and therefore we are in close contact with the client on a regular basis. If we have budgeted/forecast figures available for your business, they can be compared against the actual figures for the period thus focussing concentration on any areas of the business that require attention. Management accounts can also help with tax planning in so far as business owners can use the information to make decisions that may affect the tax liability of the business e.g. decisions about the timing of capital expenditure.
Although there is a cost to the production of Management Accounts, this is offset by the benefits of receiving timely information about the business and a reduced annual accounts charge. Our clients feedback is that the closer working relationship that we have with them as a result of the production of Management Accounts is beneficial to them.
Assistance with accounting software & online accounting solutions
Our staff are experienced in using several different accounting packages including Sage Accounts, Sage Payroll, Quickbooks, Great Plains, MyN and of course Kashflow – our cloud based accounting solution. Not only can we advise on selecting the right package for you, we are also able to offer one-to-one assistance with implementation and use of software, or for the more experienced user we are able to offer assistance as and when required. We will assess your needs and tailor our approach accordingly. Our ultimate aim is to assist you in implementing accounting software with minimal disruption to your business, and to help you maintain the data so that the information you are able to provide to assist with the production of your end of year accounts is as accurate as possible.
We are also able to offer some general IT support in connection with the above packages, and with regards to MS Office software e.g. Word, Excel and Powerpoint.
Bookkeeping assistance
If you are not able to undertake the bookkeeping for your business for any reason, we are able to assist you with keeping your records up to date. The approach taken to do this work is tailored to your needs, and we can complete the task either at our offices or at your premises – whichever is your preference.
We would use your basic records to maintain a ledger showing who owes you money and who you owe money to and to help you keep track of your cashflow. Where applicable we submit your monthly or quarterly VAT return for you.
At the end of each month we can provide you with key financial reports thereby assisting you to make relevant decisions about your business, and we are on hand to help you with any queries you have on an ongoing basis. We are also able to combine this service with our management accounts service.
Production of forecasts
We are able to produce financial forecasts for you on an annual, quarterly or monthly basis to include a Profit & Loss account, Balance Sheet and Cashflow forecasts.
These financial planning documents are often useful when applying for new funding or when renewing existing facilities. Many business owners also find them very useful as a monitoring tool, to see how well your business is doing compared to your expectations. Forecasts can assist a business in identifying quickly if they are going to have financial issues and this means that the business can plan ahead, and obtain extra funding if needed, on a timely basis. This is particularly relevant if your business is expanding.
Before producing a forecast we will meet with you to ensure that we understand your business fully and your future needs and aspirations, and we will liaise with you during the production of the forecasts to ensure that the figures produced are an accurate and realistic portrayal of your expectations for your business.
Agricultural Team
As a firm, we have experience in all business sectors that are operating in West Wales, and one of these is agriculture. We have several qualified members of staff who are from an agricultural background and have particular experience of dairy, beef and sheep farming through their personal involvement with farming businesses.
They are able to produce meaningful financial statements and, if needed forecasts, for your business. They are also able to compare your results to budgets and industry standards, and can discuss your farming system and results with you in a knowledgeable manner using the benefit of their backgrounds and inherent knowledge of your industry
New Business Start Up
If you are considering starting a new business, it is important to start out in the right direction. We are able to provide the financial expertise to help with this.
Our free initial consultation meeting will enable us to discuss with you the most suitable business structure for you (e.g. sole-trader, partnership, limited company). We can also assist with registration with HM Revenue & Customs and Companies House if appropriate, assistance with banking matters including raising finance, preparation of business plans and forecasts and can advise on accounting software packages, filing deadlines for HM Revenue & Customs and Companies House and all types of taxation.
Why not give us a call for a free, no obligation meeting to discuss your options?
General Business Planning & Funding Assistance
Our members of staff are happy to meet with you to discuss your business at any time, and are happy to liaise with your bank, finance companies and lenders on your behalf. We will make sure we fully understand your business needs and future plans, and that we pass this information over to other parties on your behalf in an effective manner.
We can also help you to implement changes within your business by discussing with you your systems, resources and future plans, and offering advice on how you can make changes which may help you to reach your goals
Succession or Exit planning
Succession or exit planning can be a very difficult thing for a business owner to think about, and sometimes it is hard to know how, when and where you should start making plans for exiting your business. We help to ease the process as much as possible for our clients. We will discuss your current position and your future plans and work with you to formulate a strategy that not only fits your timescales but is also financially beneficial to you. We can advise you on methods of exiting your business, how an exit can be structured and we also check that the tax implications of your exit are taken into consideration
Grant Funding
Several years ago there were many different grants available, but in recent years grant funding has become more difficult to obtain. We monitor the position regularly with regards to grant funding available and, when a client has a project that fits a grant scheme, can assist with the application process.
We have broad experience in the completion of grant claim forms, and are happy to assist clients with the completion of the forms and the monitoring of the required conditions to ensure that grant terms are complied with