Do you need impartial advice and Financial Director input?
Running a business can be a lonely place...
- Who do you turn to when you need to talk through the more challenging aspects of business life?
- Who keeps you on track when your motivation is waning from time to time?
- Do you ever get an impartial opinion on how your business is performing on a regular basis?
These are just some of the many benefits you can derive from making the time to undergo a monthly quarterly business review, especially if you’re on your own or part of a small board of Directors.
Every quarter we employ a structured agenda to review the company’s management accounts and tax position. We also focus on one particular key topic, as well as discussing any other items the client wants to address.
When one of our clients heard that we meet every quarter with many of our most ambitious clients it didn’t take long for them to request this service too. The company’s MD and controlling shareholder, Paul Mace, heard about the quarterly meetings service and once he knew how affordable this was he didn’t hesitate to ask to be added to the growing list of clients now wanting more regular input.
Knowing where the company stands financially every quarter provides Paul with the peace of mind he needs to free himself up to concentrate on providing great services to his ever-growing list of household names.
Business Type:PR & Marketing Agency
Macesport Ltd is a specialist PR and marketing communications agency to the sports industry representing many professional sports clubs and related businesses who sponsor sporting activities. Based in Nottingham, the company employs a busy team of 6 people with clients based all over the country and overseas.
How we make sure Macesport derives value from every quarterly meeting...
In quarters one - three, we meet to review the company’s management accounts i.e. the actual results against the initial budget to make sure the directors know what their numbers are telling them so they get maximum use form their reports.
Quarter one is also year-end accounts review time, looking at the profits being posted and the impact on the company’s tax burden together with personal taxes too.
In addition to reviewing the management accounts as mentioned in quarter one, quarter two is personal wealth planning time. A review of Paul’s personal finances is undertaken to make sure he’s on track for a comfortable exit by his selected date.
In quarter three we review the management accounts and carry out a pre-year-end tax review. This pre-year-end tax review looks for ways to minimise the company’s corporation tax so that more profits can be retained for growth.
It’s time to assess the year overall and identify any changes that need making for the year ahead so that strengths can be exploited and weaknesses addressed and incorporated into the next years plan.
We start planning before the current year is over to allow us plenty of time to create a plan for the next 12 months setting financial and non-financial goals that will help the company move towards its long term vision. These goals are then converted into the annual budget and cashflow.
As mentioned earlier it’s the peace of mind that Paul benefits from the most but the whole process is a great way to stay abreast of the company’s progress towards achieving Paul’s business and personal financial goals.
It's my financial update, a sounding board and a check on my long term plans. MD, Paul Mace