Products and Services
Management Accounts
Monthly Management Accounts are an invaluable tool to help people like yourself control your business. Key decisions can be made after some critical parameters and milestones are reported. Reporting includes a full financial pack, incorporating a Profit and Loss Account (actual against budget), Balance Sheet and commentary explaining variances, and proposing actions which may need to be taken by yourself. Bookkeeping services are also provided, as part of this package, if required.
Cash Flow Forecasting
A key factor in the running of a successful business is ability to plan cash. Cash forecasts are a vital tool in business management. BlueCrest can produce 3, 6 or 12 month cash flow forecasts, and compare actual performance against the plan. Recommendations can be made to recover any variance against the plan.
Business Plans
Preparation of Business Plans may be required when applying additional borrowing facilities from your bank, when applying for grants, or raising new finance. An important aspect of this will be the preparation of Profit and Loss, Balance Sheet and Cash Flow forecasts for up to 3 or 5 years.
Credit Management
An effective credit management system can reduce the overhead of collecting cash, whilst at the same time improving profitability through reduced collection periods.
Budgeting
Towards the end of your financial year, you set your budget for the coming year. BlueCrest can produce a full Profit and Loss, Balance Sheet and Cash Flow Budget, and as part of the on-going Management Accounts service, report actual against budget, with a commentary, as required. “What If” scenarios can be created to see the effect on cash or profit by creating sensitivity analysis on sales, costs, cash collections and many other parameters.
Company Secretary Duties
BlueCrest provides a comprehensive service covering Company Secretary duties for all small/medium companies.
Payroll Management
Managing payroll can be a time consuming and costly task, especially if you get it wrong. BlueCrest provides a full payroll service which includes setting up a payroll system, running payroll weekly or monthly, distributing payslips to employees, preparing the full Tax Year End reporting documentation for the Inland Revenue (P14’s, P60’s, P38, etc). An additional service within payroll management is preparation of P11D’s for submission to the Inland Revenue.
VAT Reporting
Quarterly VAT reports, with Intrastats for overseas buying or selling, can be produced quickly, and efficiently. VAT visits should not be something to be dreaded: they can be used to your advantage if you plan and control them. If your sales are predominantly exported, have you thought of submitting your VAT Return monthly.
Systems, Information Technology and Computerisation
Having had wide exposure to transferring a manual accounting system onto a computerised system, and parallel running, BlueCrest knows the pitfalls in implementing an integrated computerised accounting system and how to avoid these pitfalls. Experience in this area includes reviewing current financial systems, recommending improvements to these, implementing and/or upgrading computerised systems such as Tetra, Sage, and Pegasus. Full integration of these systems includes a wide range of modules from the standard accounting packages of sales and purchase ledger, to Bills of Materials and MRP systems.
Year End Statutory Accounts Production and Corporation Tax Compliance
BlueCrest can produce full and abbreviated statutory accounts in accordance with the Companies Act and other relevant legislation, ensuring that all the required documentation is lodged at Companies House. An important aspect of this is the Corporation Tax Self Assessment scheme. This includes R&D Tax credit work.
EMI Share Option Schemes
We can prepare an EMI share options scheme for your staff and implement this from initial scheme rules through to agreeing a share valuation with HM Revenue and Customs and complying with the various different HMRC paperwork requirements of this scheme.