Management Accounting

The average company isn’t in a position to appoint a Financial Director.

Our bespoke Managing Accounting tools ensure that clients are confident in the accuracy of their data and are provided with regular analysis of their profitability.

Ultimately, we help clients make informed business decisions.

Budgeting & Forecasting

Know where you are and where you’re going, at a push of the Tearle & Carver button.

Our Budgeting Tools help determine quantified expectations for your business, providing a detailed plan of what the business should achieve within a particular timeframe. With the use of a budget, it is easier to make decisions impacting the long term future of your company.

Our Forecasting Tools, by contrast, provide a regularly updated estimate of what the business will actually achieve, allowing your business to make decisions with immediate impact in the critical area of cashflow.

Since annual accounts can be up to a year out of date and contain only minimal information, Tearle & Carver’s budgeting and forecasting services provide a more accurate and comprehensive representation of your current situation. Being informed about your business in the present is vital to making the best decisions for its future.

Within our budgeting and forecasting services we can help you:

  • Keep financial information accurate and up to date
  • Make informed financial decisions, with ready access to specialist advice from our qualified professionals
  • Plan for growth, rather than just coping with it
  • Provide monthly figures for banks and other financial institutions when needed
  • Reduce overall borrowings or interest rates, with better cash flow and growth management
  • Distinguish profitable customers and focus efforts on growing these revenues
  • Plan for tax liabilities
  • Gain peace of mind and feel confident that you are in control of your business (rather than it being in control of you)
  • Spot anomalies in the financial aspects of the business and take speedy remedial action
  • Minimise tax liabilities and cash flow interruptions through timely financial advice covering leases and other purchases
  • Tender for large contacts by providing cash flow profiling and price decision assistance
  • Achieve fine tuned financial control with cost centre level management
  • Raise finances with our advice and assistance, including providing evidence of strong financial management
  • Plan Director bonuses/dividends to optimise the use of corporation and other tax thresholds
  • Make sense of your finances, through our professional budgeting and business planning support
Key Performance Indicator Analysis

We manage the vast amount of data available and provide bespoke reports, which are easily understandable and aid informed decision making at all levels across the business.

Once your business has established strategic and operational goals, choosing the right Key Performance Indicators (KPIs) is an integral part of determining success.

Tearle & Carver KPI Analysis manages all your data, to provide tailored reports to help progress your business. Our services can include:

  • Monthly or quarterly accounts close with bank reconciliation.
  • Monthly or quarterly conversations to talk over your current financial position and address any concerns or issues
  • A suite of management reports including:
    • Profit and loss (P&L)figures, showing income and expenses over the year
    • Balance sheets to provide a snapshot of your current financial position
    • Debtors/Creditors, making sense of where your money is owing and owed
    • Cash Flow calculations.
    • Customer Profitability calculations
    • VAT Planning, to help minimise VAT liabilities without evasion or avoidance.
    • Fixed Asset Register to list major business assets
  • Management reports at cost centre levels if required
Cash Flow Management

Cash flow is often the primary concern of an expanding business. We provide our clients with accurate forecasts so you know the cash reality of your business today and tomorrow.

Cash flow management is critical to the management of any business’ finances, identifying potential shortfalls in advance and making sure suppliers and employees can be paid. Predicting the future cash requirements of your business is vital to ensuring funds are available when you need them.

Tearle & Carver’s cash flow management service can accurately forecast your business needs to prevent any cash flow surprises, helping you to feel confident in your future.

The key benefits of our services are designed to:

  • Protect from over trading in a growth market
  • Accurately forecast and set aside adequate funds for VAT, PAYE and Corporation Tax liabilities
  • Help you declare the right dividends
  • Set aside adequate funds needed for reinvestment and future growth of your business

Case Studies

The Tax Man

Minimise the stress of an investigation and make use of our extensive experience in securing best outcome for our clients

Business Valuation in Distress

Take advantage of our impartial and rigorous due diligence procedures

FD in The Cupboard

Our innovative ideas are here to improve your business performance and secure appropriate and cost effective funding

The Tax Man

The Tax Man

A new client was introduced to us via a recommendation with whom we arranged to meet on a regular basis in order to determine a number of changes that we felt were needed to their business structure. The client was at the time operating as a husband and wife partnership. The business was flourishing and had a number of large contracts with big organisations.

At the start of the process they were still heavily immersed in their day to day operations so we can get a full flavour for their ambitions, aspirations and growth plans. We quickly recognised there were sufficient tax savings which can be achieved by changing the structure from a partnership to a corporate entity. We carried out a business valuation and disposed of the goodwill from the old to the new business. Unfortunately, as often is the case with efficient tax planning, HMRC got involved and disputed our valuation.

An HMRC investigation can be a very stressful time for any client, even for those best prepared. However, our client had minimal input in the HMRC communication as we dealt with this professionally behind the scene. As an added benefit, our client could rest on the security that all work was covered by insurance and therefore all costs and time in dealing with this enquiry were covered by the fee protection policy we had put in place.

The initial approach taken by HMRC was very aggressive and they tried to present an argument that there was no goodwill in the business. We challenged HMRC’s view that the goodwill was worthless. After lengthy correspondence and numerous telephone calls, HMRC agreed 100% with our original valuation, which preserved our original tax saving plan for the client. Tax savings on this case where in the region of £75K at the outset, with ongoing savings of £6,000 per annum. We are pleased to add another happy client to our portfolio.

Business Valuation in Distress

Business Valuation in Distress

Selling a business is never an easy process, but when disputes arise, the need for a reliable third party due diligence process is even greater.

Tearle & Carver have extensive understanding of the requirements for remaining objective when managing a potentially difficult company buyout. In one such case, we were approached by the courts to act as independent accountant for an acrimonious business sale in which one partner was exiting the business and selling shares to the other. Given the circumstances, both sides had totally polar views of what their business was worth.

After arranging an initial meeting with the company, we were thorough in ensuring we completed due diligence, validating the figures in the accounting records, carrying out adjustments where appropriate, and drafting a set of reliable management figures within the framework required by the court.

A draft version of the report detailing our findings and conclusions was submitted to both parties, giving them the opportunity to voice any queries or concerns and ensure all relevant factors had been taken into account.

Through this process, we were able to submit a final report to the courts that was both binding and acceptable to both parties, effectively resolving what could otherwise have been a time consuming and costly process for all sides.

FD in The Cupboard

FD in The Cupboard

For smaller companies, it is often not possible or cost effective to pay for a full-time Financial Director.
Many of our clients therefore make use of Tearle & Carver’s extensive expertise to provide the services of an FD as and when required.

In this case, we were approached by the management team of an organisation looking to acquire the existing business via an MBO (Management buy out). Their business plan had proved ineffective for securing funding, and what they needed was financial expertise from someone with a developed understanding of the company’s internal workings.

Tearle & Carver helped deliver the solution our clients were looking through utilising our bank contacts in order to make the MBO viable, while also building a robust business plan and preparing our client for the rigorous vetting process. To help with cash flow issues, we introduced factoring which led to improved cash flow management.

We advised on the appropriate business valuation and structure, and continued to prepare monthly accounts to track profgress once the management were fully in command of all the information they needed to move their business forward.

In order to best assist these clients through the crucial first year of ownership, we attended board meetings on a regular basis, a service that we continue to provide to date.

With our continually developing understanding of their business, this client is able to remain confident that Tearle & Carver can provide any financial support they may need, now and in the future.