Inland Revenue expects Businesses to keep a financial record of:
1.Cash Flow Statements 2. Profit/Loss Accounts 3.Balance Sheet in order to Monitor their Performances (Viability)/Income Tax and eligibility for Working Tax Credit (at least,( £53 per week).
Saintrem Enterprises will prepare your Trading, Profit & Loss Account for £15 per hour. On receipt of your (a) Sales Revenue (b) Business or overhead Expenses, we will prepare your
A. Trading Accounts showing the Gross Profit and Net Profit. B Balance Sheet (if required) showing the value of your business, Quarterly or Yearly, What the Business Owns and Owes (Assets and Liabilities). Fixed Assets (e.g. Chickens, Grinding Machines etc.), Available Current Assets (Cash/Stocks. Value of your Business = Fixed Assets+ Current Assets-Current Liabilities Your business is Solvent when you’re able to meet your Short-term Debts when due for Payment and so you need Adequate Working Capital Working Capital = Current Assets-Current liabilities
Unless you wanted Saintrem Enterprises to Collate your Receipts/Invoices and add them up, all the above tasks normally last one hour.