Management accounts

As part of our agreed services, we will:

• Prepare management accounts based on the financial information provided, including profit and loss account, balance sheet, and other relevant reports

Where agreed separately, we may:

• Attend board meetings, either virtually or in-person
• Provide calculations of key performance indicators (KPIs), where relevant
• Deliver reports in a suitable format (e.g. PDF, Excel, or software dashboard)
• Provide comparisons of actual results to budget or prior periods (if data is available)
• Provide commentary on key trends and variances, where appropriate

Please note: this list is not exhaustive. Any work not specifically listed under "Included work" is deemed outside the scope of this engagement unless we have expressly agreed otherwise in writing.

Where additional work is required, we will advise you of the scope, our proposed fee, and obtain your agreement before proceeding. Where cloud accounting software is used, we may work directly within your system to prepare and extract reports.

The following work is outside the scope of this service unless separately agreed in writing:

• Preparation of statutory financial statements or tax returns
• Cash flow forecasts, budgets or financial modelling
• Review or correction of historical errors or backlogs in bookkeeping
• Full bookkeeping or data entry services
• Statutory accounts, audit or independent examination. Management accounts are not a substitute for any of these services.
• Verification of completeness or accuracy of source data
• Financial due diligence, valuations, or investment reports

Please note: this list is not exhaustive. Any work not specifically listed under "Included work" is deemed outside the scope of this engagement unless we have expressly agreed otherwise in writing.

Where additional work is required, we will advise you of the scope, our proposed fee, and obtain your agreement before proceeding.

You agree to:

• Maintain accurate and up-to-date financial records
• Provide timely access to all relevant accounting data and source documents
• Notify us of any significant transactions, changes in operations, or known issues
• Review and approve the final management accounts reports
• Ensure that management decisions are not made solely on unaudited figures

Please note: management accounts are only as accurate as the underlying records. If we identify material errors or gaps in the data, we will bring them to your attention, but we are not responsible for the integrity of the records unless separately engaged to manage them.

We agree to:

• Prepare the management accounts in line with the agreed timetable and scope
• Use reasonable skill and care in the preparation of reports, based on the data provided
• Inform you of any material issues or inconsistencies we identify in your records
• Keep your information confidential and secure, in accordance with applicable laws
• Clearly distinguish between factual reporting and any opinion or interpretation

Please note: our reports are prepared for your internal use only and are not intended for external reliance by banks, investors, or other third parties unless we have explicitly agreed otherwise in writing.