Preparing your accounts

The accounts are generally the main measure of the performance of a business, either for internal management purposes for finance reasons, or for HM Revenue & Customs. It is taken as read that your bank accounts will be prepared in good time, on time, to satisfy the relevant requirements.

It is important to recognise the purpose of the Accounts. The authorities want figures presented in a certain way and to contain certain information in a pre-determined format. Doing this correctly stops rejection of the filing, or queries arising. Sometimes however, it is not appropirate for these same figures to be used for other purposes, such as internal management meetings, or for bank forecasting. On occasions, the different format can be more helpful to the user and we can bear this in mind when preparing the statements.

We at Minford look at the accounts preparation as the starting point, not an end result. It is not the figures themselves that are important; it is what you do with them.

Specialist Areas

Whilst we have quite a diverse client base at Minford, we have areas where we particularly specialise. In the Dental industry, we are recognised nationally as a specialist dental accountancy practice with over 20 years broad experience. (see separate section).

Our overseas connections mean that we are more comfortable than many practices with  different financial and tax regimes, exchange rate variations, and the risks involved. In these days of the global economy and seeking to expand export or supply markets outside the UK as we come out of recession, this experience can be important.  

We also specialise in Agriculture, as being a Yorkshire practice, rural exposure is part of the lifestyle. Our tax consultancy by its nature extends to all owner-managed businesses but with particular interest in capital taxes, our experience means that we are well placed to advise on all aspects of capital purchasing, expansion and succession issues.