When you’re running a service-based limited company, it’s easy to get caught up in client work, marketing, and day-to-day tasks.
But one of the most valuable things you can do for your business is to keep an eye on your financial health.
This is where regular financial reviews (formally known as management accounts) come in.
What Are Management Accounts?
Management accounts, or regular financial reviews, are monthly or quarterly reports that give you a clear picture of your business’s performance.
They usually include a profit and loss statement, balance sheet, and cash flow report.
They’re separate from the annual accounts you file with Companies House because they’re for you, not HMRC.
They help you understand how your business is doing throughout the year, rather than just at the end.
Why Do They Matter?
Monthly Business Reports
Regular financial reviews give you up-to-date insights into your revenue, expenses, and profitability.
Instead of waiting until year-end to find out how you did, you can make informed decisions all year round.
Financial Health Checks
Just like you’d get a health check for yourself, your business needs one too.
Regular reviews can spot financial problems early, such as rising costs or falling profits, giving you time to fix them before they become serious.
Business Performance Snapshots
Think of these reviews as snapshots of your business’s performance.
They help you see what’s working and what’s not, so you can make adjustments and keep moving in the right direction.
Your Numbers, Explained
Management accounts can feel intimidating, but they don’t have to be.
With the right support, these reviews are an opportunity to understand your numbers in plain English, so you can make smart decisions.
Benefits for Service-Based Limited Companies
For service-based businesses, cash flow can be unpredictable.
Regular financial reviews help you stay on top of your finances, manage client payments, and plan for quieter months.
They also help with pricing decisions, ensuring you’re charging enough to cover your costs and make a profit.
How We Can Help
At Legacy Figures Accountancy, we specialise in helping service-based limited companies make sense of their numbers. We provide regular financial reviews that help you stay informed, plan for growth, and avoid surprises.
If you’d like to see how regular financial reviews can transform your business, we’re here to help.
👉 Book a free consultation today and let’s make your numbers work for you.
