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Management accounts we provide at The Financial Management Centre in Wirral consists of both financial and non-financial information. Accounts reveal your business’s performance over an agreed period of time. This period typically covers the prior week, month or quarter. This means you are no longer required to rely on year-end accounts upon which to base important business decisions.
The key benefit of receiving regular management accounts is that you and your colleagues are afforded the ability to pinpoint exactly where in your business money is earned and where money is spent. Furthermore management accounts are not restricted by rules of compliance in the same way as year-end accounts. Management accounts afford you and your colleagues an ability to make decisions leading to performance improvements, cost saving and profit enhancement.
The management accounts you receive typically include:
The Financial Management Centre on the Wirral makes sure you and your colleagues are able to understand information contained within your management accounts. The service we provide allows you to make adjustments in your business based upon up-to-date and accurate financial information.
The information contained in your management accounts allows you and your colleagues to make meaningful comparisons between trading periods. In turn this allows you to make further changes to your business’s strategy for the better.
If you are ready to kick-start this process today, please call The Financial Management Centre in Wirral today. An adviser will book you in for an appointment at a convenient time. The telephone number is: 0151 353 7129. Alternatively complete the enquiry form. The Financial Management Centre offers a range of services for Wirral businesses including payroll and bookkeeping
What Documents do I need to show Companies House?
When your financial year ends, you have to return all of the following to Companies House within a defined period:
Profit and loss account, also known as an income statement, gives you an overview of the business and its activities over a certain period of time.
Balance sheet, also known as a statement of financial position. it is a summary of your companies financial performance, and it is often a very important document for HMRC. This statement should be signed by a Director
Group Accounts (where required)
What expenses can I claim through the Business?
As long as all expenses have been incurred in order to further the business - or as HMRC states it " wholly and exclusively incurred for the benefit of the business" - you are able to reclaim these expenses. However, it should be fully within reason - so no 5 star hotels if you can also stay in a regular hotel for your business trip.
We are just starting our third year with Tom Cowley and the Wirral office of The Financial Management Centre. Tom's professionalism, patience and ability to communicate issues efficiently and effectively has been a great asset to our business. We would have no hesitation in recommending the Wirral office of The Financial Management Centre.
Following the success of the relationship of our sister company CWJ Developments Ltd with the Wirral office of The Financial Management Centre we have decided to appoint the Wirral office as our accountants and advisers for this new start company. We look forward to a long and mutually beneficial relationship.
We have been clients of the Wirral office of The Financial Management Centre for over three years. During this time we have been extremely impressed with the professionalism and ability of the Wirral office in working with our in house administration. Due to a forthcoming retirement we have decide to fully outsource our accounting and administration to the Wirral office and we look forward to a long and fruitful relationship.
3 years ago, I referred one of my relatives, Janet, to Tom Cowley. Janet was returning to the Wirral from South Africa and required all her self-assessment and tax returns sorting out. Tom has continued to provide this service for Janet every year since. Her words to describe Tom are "brilliant, a top man who is well worth a great testimonial"! We are both happy to refer Tom Cowley. Well done!
The Financial Management Centre UK Limited.
Registered in England & Wales company number 06304852.
Basepoint Business Centre,