News and Blogs

Every limited company must file a set of accounts with companies house following the end of each financial year. This is statutory requirement, and is seen by some as a necessary evil, however far from being just a box ticking exercise, a set of accounts can provide...

On the twelfth day of Christmas M I Accountants sent to me: 12 Month End Closes 11 Credit Searches 10 Valuations 9 Finance Leases 8 Calculations 7 Payroll Journals 6 Cash Flow Forecasts 5 Bank Recs 4 VAT Returns 3 ID Uploads 2 Payment Runs and a set of Year End Stat...

What is invoice finance? Invoice finance is an increasingly common form of short-term borrowing, often used to improve a company's working capital and cash flow position. There are two main types of invoice finance- 'discounting' & 'factoring'. Invoice discounting...

Businesses which use any form of invoice finance will be used to receiving a monthly client statement form their bank or provider each month. This is an important document which shows- • How their availability is calculated • How much they owe the provider • Where,...

This guide is meant as a ‘tick list’ to help anyone starting a company to meet their responsibilities as a Director of a Limited Company. What is a Limited company? A limited company is an organisation that you can set up to run your business - it’s responsible in its...

On the 19th January Chris Spencer was interviewed on the North Staffordshire Business show by Andrew Holland of Zoogly Media   The Purpose of the show is to inspire and educate anyone thinking of starting a business who lives in the North Staffordshire area....

Accruals and prepayments are adjustments that we make to ensure that expenses and income are recognised in the correct accounting period. According to the accruals concept, expenses should be recognised in the period they are incurred rather than the period when they...

The confirmation statement will replace annual returns for companies from 30 June 2016. Companies will need to file a confirmation statement from this date, providing up to date information for inclusion on the public register. This information must be provided at...

National Minimum Wage Increase – 1st October 2016 From the 1st October 2016 the National Minimum Wage has increased per the below summary: National Living Wage National Minimum Wage Year 25 and over 21 to 24 18 to 20 Under 18 Apprentice October 2016 (current rate)...

One of my friends bakes cakes for family and friends and another will have a go at making anything from gift bags and tags to canvas artwork but when would these hobbies become a trade? Unfortunately it is very common to be self employed and not realise it - you...