Financial and Management Reporting
MJH Accountancy helps our clients with financial, business and management reporting. We help a range of clients from small owner managed businesses to medium-sized businesses and help lots of start-ups with our monthly reporting service.
Regardless of size, most clients have a good understanding of their business performance based their cash position and an intuitive sense or actual knowledge of creditors and debtors. Our reporting will act as a definitive measure as to how your business has performed. We offer different packages to suit your type of business and the frequency of reporting required.
Reports will be based on a trial balance provided by the business or we can produce them from bank transactions and original source documents if you avail of our bookkeeping service.
Annual Statement of Financial Position
Preparation of annual accounts for non-incorporated businesses. Most sole traders manage based on cash in the bank without realising how profitable the business actually is. As part of our annual reporting, we will correctly identify accruals and prepayments and account for these. We will also correctly account for capital expenditure. These accounts can be used by business owners to gauge of business performance.
Annual Financial Statements
Preparation of financial statements for incorporated companies. If you are trading as a limited company we will produce full financial statements for signing by the directors. These accounts will contain will be prepared in accordance with UK GAAP and can be used for submission to banks and other credit providers to help secure credit.
Abridged Accounts for Companies House
Preparation of abridged accounts. UK limited companies are obliged to prepare abridged financial statements for submission to the Companies House. We will prepare these accounts and submit to the Companies House on your behalf. Accounts are required to be submitted to the Companies House within 9 months of the company’s financial year-end.
Monthly management reports
We use the latest accounting software packages to produce monthly management reports. This provides the management team with frequent MI that will allow them to effectively manage the business. We can consult with you to set up reports in a user-friendly format. We can then work with your accounts people to get the information recorded correctly. We can also consult about a month end timetable that will allow us to capture a monthly snapshot and allow you to gauge business performance. For many businesses, this is more cost-effective than employing a qualified accountant to run this process for you.
Get in touch if you would like more information about our financial and business reporting packages.