In addition to the day to day accounting needs often other issues will come up within your business. We have a team of highly experienced accountants and advisors who can help in most situations.
Preparation of budgets
A budget is a forward looking projection to help you set goals for what you hope your business will achieve.
Bevan & Buckland can work with you and your team to prepare budgets to improve the performance of your business. Budgets can help with incentivising the workforce, foreseeing potential problems in your business and helping you work out the resources you require.
We are also able to provide training to your team of different methods of budgeting to find a system which works for your business.
Preparation of financial forecasts
Financial forecasts are detailed financial projections which include projected profit & loss statements, cash flows and your balance sheets.
Preparation of financial forecasts is a crucial part of the business planning process and is critical when looking to raise funds from banks, investors or grant providers.
Bevan & Buckland have years of experience producing financial forecasts. These will help you identify cash shortfalls or needs in the business so that you request funding in plenty of time and ensure your funding request is successful.
We take time to understand your business so that the projections are realistic and we make sure the assumptions we use are based on the actual performance of the business.
We can then vary the assumptions to help you understand what the impact of certain decisions would be on the business which will make decision making far easier.
Having spent years building up your business and building the reserves of your company, the last thing you want is for a contract or legal dispute to put your company into financial difficulty, potentially destroying many years of hard work.
Bevan & Buckland can advise on company structures to ensure your assets are protected, and to ensure the long term security of you and your family.
Restructuring is not always suitable but if you are worried that the cash and assets that have built up in your business could be at risk speak to us and we can let you know to benefits and risks of restructuring your business.
Restructures are common when businesses are moving into a new industry, product or geographical area and are a great way to reduce the impact on the core business if the new venture is not successful.
A question every business owner wants answered is what their business is worth. You may want to know this for insurance purposes, because you are looking to sell or just for your own peace of mind.
The valuation of a business is always to some degree subjective but we can help you understand the different methodologies and apply them to your business.
We can also show you the ways in which you can improve the value of your business by planning the sale well in advance.
Bevan & Buckland have years of experience in valuing businesses and can provide valuations for a variety of purposes.
To find out what your business is worth give us a call to arrange your valuation.
Board meeting attendance
Many businesses cannot afford or do not want a full time financial director but would still benefit from having a chartered accountant attending their board meetings to provide a financial perspective on the business’ performance.
Our accountants can give feedback on the accounts, the risks the business is facing and ask challenging questions which will help your business develop and grow.
Bevan & Buckland can provide experienced accountants to work in a non-executive role and provide advice to company boards as necessary.
Financial due dilligence
Financial due diligence is an investigation of a company or organization to ensure that the assets they claim to have do exist, are fairly valued and that all liabilities of the company are reflected in their accounts. It helps the buyer make sure they know what it is they are acquiring.
Bevan & Buckland have carried out financial due diligence on a variety of organizations across many years in connection with acquisitions and mergers. Our service gives the purchaser peace of mind that the company or assets being acquired are fairly valued and that there are no hidden liabilities. If necessary, we can also give guidance on the price being paid.
Often our due diligence work covers a wider scope with reviews of financial forecasts and other aspects of the organisation and well as helping to understand how the new organisation will work in the future.
You will received a detailed report highlighting any major issues and helping you to understand the organisation you are planning to take over/merge with.
Our work can also help set out any warrantees that should be asked for from the seller and can link with our tax team to make sure any transaction is tax efficient.
Buying and selling companies
Buying or selling a company can be a very complex process which generally takes several months and involves accountants, lawyers and corporate finance professionals. Having experienced and pragmatic advisors to help you through the process is critical to ensure success and that the price paid is fair.
Bevan & Buckland can take you through the whole buying process, from valuations and carrying out financial due diligence through to tax advice and the next steps after you have successfully made your purchase. We can also provide tax advice on the transaction.
Our experienced team can help you ensure the sale of your company goes successfully, dealing with the purchaser’s due diligence team and helping with the valuation process.
We understand the issues that help you get the most money for your business and by working with you we can maximise the price you get. We also ensure that the deal is structured tax efficiently so that you keep the majority of the sale price.
Financial director services
Many companies are not in a position to employ a full time financial director but need the knowledge and input of a financial director throughout the year.
In this case, Bevan & Buckland can provide experienced accountants to fulfil this role on a part time basis. The work carried out can include the finalisation of accounts as well as review of the accounts, preparation of forecasts and budgets, negotiation of contracts, and attendance at board meetings.
Implementation of FRS102
FRS102 is the new accounting standard which will impact most medium and not-for-profit organisations from 2016 onwards.
FRS102 has a number of complicated areas such as restating assets and liabilities at fair value; financial instruments; additional disclosures; and treatments of multi employer pension schemes and treatment of social housing grants. This process can take several weeks or months so getting advice early is critical to ensure the exercise is completed with minimal disruption to your business.
Bevan & Buckland are able to assist with the first time implementation of FRS102 to ensure the first statutory accounts prepared under FRS102 are prepared accurately.
Start up advice
Starting a business is a hugely exciting time. Choosing the right legal status and putting the right systems in place are critical, and a new business often expands very quickly in its early stages.
Bevan & Buckland have been helping start-ups for over 100 years. We can help you choose the right legal structure and the right accounting systems for your business from day one. Getting this right massively improves the chances of your business being successful. Our experience has highlighted a number of areas where new businesses slip up, are not as successful as they could be, or fail. Taking the time to speak with us can massively increase your chances of success.
Benefits of incorporation
Many small businesses start up as sole traders or partnerships but eventually the time comes when they need to consider becoming a limited company (incorporation).
The main benefit of this is that your personal liability is minimised, reducing the chance of your house being repossessed if your business fails.
Incorporation is especially suitable for bigger companies, particularly those that employ many staff and have larger contracts. Bevan & Buckland are able to advise on the benefits of incorporation in order to safeguard you and your family’s future.
Deciding the best legal status for your business is not easy and getting professional advice is critical. The ever changing tax rules also mean the decision is not as straight forward as it once was so if you need advice get in touch.
All companies need to raise finance at some point, either in the form of debt, equity or grants.
Debt is normally received from banks or other lenders such as crowd funding or friends and family.
Equity is usually investment by way of shares and is normally put in by the business owners or external investors.
Grants can be received from a number of governmental and non governmental organisations.
Bevan & Buckland can help ensure your accounts paint the very best picture of your business in order to improve your chances of successfully raising finance. In addition to this, we can provide forecasts and assist you in the preparation of your application documents, as well as advising the best type of finance for the project you are planning to undertake.
We have good contacts across a number of banks, grant providers and other sources of finance meaning that if you are looking to raise funds we can put you in touch with people who will be able to help you.
If your tax affairs come under HMRC’s scrutiny, here’s what you need to know.