FCA regulated

Quarterly reports required for regulators and monthly for investors...

Issues Identified: Quarterly reports required for regulators and monthly for investors
Reporting Method: Current year actuals

Our client is an established FCA regulated client who needed regular and accurate management information for FCA reporting purposes. Further to this, the clients have aligned themselves with finance from a bank to support their business growth.

Our client was reporting via excel but lacked the overall skills to ensure the data had full integrity and year-end adjustments lead to the reported numbers changing as the statutory accounts were put together.

What followed was that we pulled together both a profit and loss and balance sheet report, plus further KPI’s relevant to the finance providers requests, and this was all in one report to cover both of their requirements.

Our client relied on our accounting knowledge and skills to provide accurate information that was mirrored in the annual financial statements.

Our client says

“We prepare the monthly bookkeeping from our internal records and systems, and then Sheards take that to the next step. We gain more confidence in our reporting from a full “checks and balances” review undertaken by Sheards. Furthermore, there are no nasty surprises come year-end when the statutory accounts are prepared, as any adjustments are now being made in the year and we can talk through the impact of these as they happen. With Sheards help, we’ve been able to take on circa £5m funding to continue to grow our business, and our lenders have indicated that they are looking to increase funding to circa £30m, which is pivotal to the future growth and success of the company”.

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