Helping you control and grow your business – and your wealth

Wherever you are in the business cycle, you probably need some help when it comes to the financial side of your business. And that’s where HFM can help you. Our specialist expertise can help make a huge difference to the profitability of your business from many different angles. Here are just a few of the services we can provide to help you increase your profits:

Management information

Every successful business feeds off regular management information. It’s a vital component that helps you manage and control the business. We work closely with you to get to know your business so we can make suggestions to help improve profits and to develop and grow it. We can prepare your monthly or quarterly management accounts to ensure you always have reliable and accurate information on which to base your business decisions.

Business planning and forecasts

Every business needs a plan, so you know where you are going. We’ll help you set the targets for your business – then keep you on track, month after month. And if your business is growing, chances are you’ll need more finance to support the growth at some stage. And that’s when you’ll need a meaningful and robust business plan to show the bank or other financial institutions. We’ll work with you to create a business plan, cash-flow and financial forecasts to support your presentation.

Management consultancy

Our management consultancy service can review your credit control, stock control, budgeting and financial reporting systems and allow you to take full control of these key areas of your business. We can also help you address specific problem areas in your business such as gross profit, cost control and stock valuation. Effective management information will allow you to seize opportunities when they arise or identify problems quickly so you can take effective corrective action. We can also act as your virtual ‘Finance Director’ by sitting in on important meetings and offering our experience and advice.

Business Start-Up – to help you on your way

80% of new businesses go bust within 5 years. 80% of the remainder go bust within the next 5 years. That’s why it’s essential for anyone starting a new business to take on an accountant at the earliest possible opportunity. You may have a good business proposition and the enterprise and commitment to see it through, but your chances of survival will be dramatically improved if you have a savvy accountant looking over your shoulder.

And that’s what we do best! Think of us as a safe pair of hands. Bring us your business ideas and we will help you to make them a reality.

We will help you to:

  • decide on the most suitable structure for your business – sole trader, partnership, limited liability partnership or limited company
  • prepare a business plan, cashflow projections, budgets, and trading forecasts
  • assess the finance requirements; advise on the best sources of finance and draw up the necessary proposals
  • establish a good working relationship with your bank
  • complete any registration procedures with Companies House and HM Revenue & Customs
  • deal with all the company secretarial issues
  • set up a recording system for your internal use and for complying with statutory requirements
  • decide on what accountancy software to buy and help with the installation
  • keep on top of bookkeeping, VAT, payroll and other accounting requirements and
  • help with all aspects of business compliance and administration

HM Revenue & Customs Investigations

If you are unfortunate enough to be the subject of a tax investigation by HM Revenue & Customs, it can be a stressful and worrying experience. Since personal and corporate self-assessment, Revenue staff can now review cases on a ‘sample basis’; consequently, tax investigations have become more frequent. We have a wealth of experience in dealing with HM Revenue & Customs investigations, whether they are enquiries into an individual’s Tax Return under the Self Assessment regime, or more detailed enquiries or employer-related investigations into PAYE and P11d compliance. If you are about to be the subject of an investigation, we can provide expert help and support. For a small annual fee we can also offer you cover for all of our fees in the event of an enquiry.

Consultancy and Systems Advice

From time to time, all businesses need some extra care and attention. Perhaps profitability has shrunk; you’ve got a liquidity problem or one of your main suppliers has gone bust. Perhaps you’re thinking about retirement and want to sell your business; or want to expand by buying out a competitor. Whatever the issue, we’ve got the experience and expertise to help you manage it.

Profit Improvement Plans

If you want to know how well your business is doing compared to your competitors and your industry in general, we will gather all the best available information and prepare an in-depth report. Then we’ll show you what needs to happen to improve your position; what impact an increase in prices might have; how you can make significant improvements in profitability. As a result, you’ll know what is at stake, i.e.

  • how much you stand to gain if you take action
  • how much you will miss out on if you don’t

We’ll never let you fall into the trap of pre-judging what may or may not be possible. Instead of guessing … we’ll look at the evidence, think creatively, and use an open mind to find a better solution.

Accountancy Software training (Kashflow, Sage, Quickbooks)

If you’d like to do your own bookkeeping, we recommend and train you in any of 3 major accounting packages for SMEs, Kashflow, Sage or Quickbooks. (We’ll advise which one is most suitable for you.) If at all possible we will train you using your own records so that you gain maximum benefit.