What are management accounts & what do statutory accounts include?

At Boobooks, we prepare customised or standard financial reports on a monthly or quarterly basis to help you stay on top of your business performance.

Unlike Statutory Accounts, which are prepared annually to meet legal requirements, Management Accounts are tailored specifically for your business needs. These reports typically include:

• Key Performance Indicators (KPIs)

• Balance Sheet

• Profit & Loss Statement

• Executive Summary

Designed to provide clear insights into your company’s financial health, Management Accounts empower business owners and managers to make informed daily and strategic decisions.

They’re also incredibly valuable when planning for growth or applying for business financing, helping you present a strong and well-documented financial case.

Additional details regarding management accounts

At Boobooks, we believe that keeping an eye on and sustaining the well-being of your small business or organization requires management accounts. These reports help you determine if you're on pace to achieve your company objectives by highlighting important performance metrics.
Regular management accounts might be quite beneficial if your firm is classified as a small business. If a business satisfies at least two of the following requirements, it is deemed small:

• Annual turnover under £632,000

• Balance sheet total of £316,000 or less

• 10 employees or fewer

The potential of your company may be fully realised with the help of management accounts. They assist you:

• Determine your advantages and shortcomings.

• Make wise financial decisions in a timely manner.

• Make confident plans for long-term growth.

Why opt for Boobooks?

Our management accountants at Boobooks are highly certified experts with a wealth of expertise assisting and counseling small firms. We are here to support you as you confidently manage the particular difficulties you encounter.

The foundation of what we do is customer service. We collaborate closely with you to emphasize the most important findings rather than merely delivering reports. Whether you're looking to improve cash flow, plan your next investment, or make strategic business choices, our experts can assist you choose which financial reports will best support your objectives with proactive advice and on-demand reporting.

Boobooks gives you more than just statistics; it gives you a reliable financial partner that is committed to your success.

We support your business
at each growth stage

Start-Up: For early-stage start-ups, complex financial reports aren’t necessary—just the essentials to track performance and make informed decisions.

To begin with:

• An overview of the accounts

• Statement of Profit and Loss

• The balance sheet
  

These core reports give a clear snapshot of your financial health and help you prepare for development. As your business scales, we’ll adapt your reporting pack to include more detailed KPIs and metrics.
We at Boobooks customize your management accounts to help you during every phase of your company's development.

Growth: Financial obligations increase when your company grows, especially when making new investment plans. It becomes crucial to comprehend your cash flow.
You may more precisely keep track of your earnings and outlays by upgrading your management accounts. At this point, your reports need to contain:

• Payables

• Receivables

• Spending plan

• Money Flow

These insights provide you a better understanding of your financial obligations and help you make more informed, growth-oriented decisions.
We at Boobooks adapt your reports to grow with your company.

Established: As your business matures, you’ll need more detailed and targeted financial insights to support strategic decision-making.

At this stage, your management accounts should include:

• Key Performance Indicators (KPIs)

• Shareholder Loan Transactions

• Accruals and Prepayments

• Segmental or Departmental Analysis

• Profit & Loss – Actual vs. Last Year and/or Forecast

These advanced reports provide the depth and clarity needed to manage performance, track progress, and drive sustainable growth.

At Boobooks, we tailor your reports to match your evolving business needs.