FINANCIAL REPORTING
Statutory Financial Statements | Budgets & Forecasting | Cashflow Projections
Statutory Financial Statements
Statutory accounts – also known as annual accounts – are a set of financial statements prepared at the end of each financial year.
All private Limited Companies are required to prepare and submit statutory accounts to Companies House. The size of your business defines the level of statutory information required. As a minimum you will be expected to submit a balance sheet with a profit and loss statement.
At NPS, we can prepare them for you and help you understand the performance of your business. Together we can:
- Benchmark your company’s financial performance against your competitors.
- Assess current and future tax liabilities and other obligations of your company.
- Evaluate your company’s profitability and potential for growth.
NPS will prepare your company’s annual financial statements when you sign up to our fixed monthly fee limited accounts service.
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Budgets & Forecasting
If you want to grow your business, it’s vital to have a solid grasp on both your budgeting and forecasting to help you plan the year ahead and ensure your resources are put to the best use.
In its simplest form, budgeting is what you want to happen, and forecasting is what you think will happen. Working together we can help develop your budgets and forecasts, looking forward to building your business.
If you are applying for finance for your business, you will probably be asked to provide a longer-term forecast. NPS can work with you to prepare detailed forecasts.
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Cashflow Projections
Cashflow is key! While your business may be profitable, understanding and forecasting when payments are due and receipts from your customers are expected is essential in ensuring that you have sufficient cash to keep your business running effectively.
At NPS. we can help forecast cashflow, and offer advice on how to improve your working capital.
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