Learning the market – finance comes next!
Preparing monthly accounts and payroll and undertaking all other administration so that a managing director can concentrate on developing her business and then get to grips with finance matters.
Lack of accounting records
We were involved in rectifying a situation where a company traded for eight months without accounting records and not maintaining a full payroll. This showed that the company was entitled to a large VAT refund.
A busy development manager, who is also company secretary for a group of companies has outsourced the maintenance of the statutory registers and the preparation of minutes and documents to reflect changes, freeing up time up to concentrate on the group’s core businesses.
Board of Directors and inappropriate contracts
Company Solutions gave advice on the extent to which the activities of some of the directors had adversely affected the company, and actioned the removal of them, and negotiated with suppliers regarding the contracts. (Had Company Solutions been involved early we would have advocated a financial appraisal on all major items and a tendering process to ensure the best deal possible was struck)
What should we pay ourselves and our employees?
Company Solutions has advised companies of all sizes (including PLCs) on rates
of pay and how remuneration packages, using cash and/or shares should be structured.