We touched on a number of ideas during the session which we are going to expand on in the coming weeks as they will be relevant to many caterers. One question that a delegate asked was: -
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The Accountants for Growth
We touched on a number of ideas during the session which we are going to expand on in the coming weeks as they will be relevant to many caterers. One question that a delegate asked was: -
Gaining regular Google reviews is an easy way to promote your business and it helps to promote your website with search engines.
Prospective customers and clients will want to establish that you are a trustworthy and reliable business. One way in which they can do this is by reading your online reviews. This is fast becoming the way in which potential customers assess your business before they take the decision to buy from or engage with you.
We live in uncertain times and it is critical therefore for business owners to stay ahead of the competition. The phrase “Cash is King” has never been so pertinent. Most business leaders find it informative to compare their business’ performance to others in their sector and to see how they may be able to strengthen their cash flow.
If you need any help with making sense of how Making Tax Digital will affect your business, get in touch with us!
FRS 102 requires investment properties to be valued at fair value with any increase or decrease in fair value shown in the profit or loss account. This policy applied also to properties rented out to other group companies. This forced small groups to incur costs of obtaining a fair value with very little benefit.
Loans from directors to their company are a significant source of finance for many owner-managed small companies. Often, these loans are interest-free.
Financial reporting standard 105 (FRS 105) was devised for micro entities to enable them to simplify their accounts. Companies were able to prepare accounts under FRS 105 for year ends starting after 1 January 2016.
Some accountants have tried to encourage clients from adopting FRS 105 and have recommended that clients adopt FRS 102 1A. Why is this?
All business should have a business plan, from the one-man band to the successful limited company. Once written, the plan should be referred to regularly and used as a tool to assess business performance.
You must keep records about the company itself, financial and accounting records. HM Revenue and Customs may check your records to make sure you’re paying the right amount of tax.
Old and slow moving stock can be a real problem for a business. It can tie up cash in the business and take up floor and window space that would be better employed showing off some new fresh items.
It makes sense therefore to look at ways of moving this stock on and turn it into cash which can then be used to buy faster selling lines.
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