CTB Accounts provides specialist
Our expertise and focus is purely in hospitality and we have a wealth of experience in business start up as well as the financial aspects of the day to day running of a Restaurant Business.
We provide all of the convenience and expertise of an in house accounts department without the high costs. All of our services are flexible and can be tailored to your requirements.
CTB Accounts have 20+ years experience working with both high end, high turnover restaurants as well as smaller, owner managed restaurants.
We take all of the strain of book keeping, supplier payments and VAT returns away from you allowing you to concentrate on your business. After each month end we provide a full set of Management Accounts (as detailed – or not – as you like!) to help you understand the profitability of your restaurant and highlight problem areas, and help you to improve profitability.
CTB Accounts have built up a network of both suppliers and other professionals connected to the Restaurant Industry over the years. We can help to point you in the right direction for services such as Insurance, Licensing, Property Consultancy, IT Services, Tax and Audit Advisors, Human Resources and Payroll Consultancy from tried and tested professionals that we trust.
Some of our clients
CTB Pre Opening Services
Almost all of our clients have been with us since the idea to open a restaurant first occurred to them. Because we have so much experience in this area we can help to ensure that the process of opening a restaurant runs smoothly and critical services are in place before you open the door.
We can help you to prepare a professional business plan with a 5 years of Profit & Loss Accounts, Balance Sheets and Cashflows for presentation to Banks and/or other investors.
We are very familiar with the steps you need to take to get everything in place so that you are ready to trade – and we know where the pitfalls are.
You need to concentrate on getting the kitchen up and running and the staff trained so let us deal with the Credit Card companies, the Bank, HMRC and suppliers. We will also monitor and manage your cashflow during this critical period.
Book Keeping and Cashflow
We will make sure that your Books are straight from the outset so that you are aware of what you are spending from day one. We can help to monitor your project spend against budget and report back to investors.
We will build a detailed Fixed Asset Register from the moment you start to pay contractors so that your Tax Advisors have all of the information they need to ensure you get maximum Tax Relief on your investment.
While you are fitting out your restaurant you will be paying VAT on invoices to Contractors and advisors. It is very important for your cashflow to reclaim this VAT as quickly as possible.
Our records will be up to date and in a format ready for HMRC inspection so that this process runs smoothly and you can get your cash back as quickly as possible.
We will even come to meetings with you if you want us to.
CTB On Going Services
We have a number of clients who come to us because they are finding it difficult to manage their Accounts as well as their restaurant – it is very difficult to do both well!
Some of our clients have tried to keep the books themselves but find it too time consuming and distracting; others have moved to us from non-specialist accountants because they feel
they need more industry-specific advice.
SUPPLIER PAYMENTS MANAGEMENT
We will take away a bundle of invoices and quickly provide you with a Supplier listing and Aged Creditor analysis so that you can see exactly what is outstanding and we will make sure that your bank is reconciled accordingly. We will contact suppliers to obtain missing invoices and reconcile supplier statements to your ledgers.
From the moment you appoint us you can pass all supplier queries through our office so that you can concentrate on the important business of running your restaurant. We will arrange for payment schedules to be produced so that all you have to do is authorise payment.
We will prepare and file your VAT returns and ensure that records are up to date and in a format acceptable to HMRC. If we need to back track to reconcile VAT we can normally deal with any issues that arise. We also have access to VAT specialists who can help if necessary.
We will provide a full set of Management Accounts after each month end. The accounts can be as detailed as you want them to be and you can change the level of detail at any time. We also provide a Cost Analysis with every set of Accounts so that you can clearly see the detail behind each cost line.
Our Accounts are produced as far as possible in line with Audit requirements so that there are no surprises at year end – but they are always tailored to your needs and are a tool to help you control costs and run a successful business.
We reconcile every Balance Sheet account Every Month so that problems are not hidden and can be dealt with before they become insurmountable. The Management Accounts will show comparisons to Budget and to Prior Year trading which will help you to analyse trends and prepare your business for trading fluctuations.
You will have a dedicated Management Accountant assigned to you who will develop an in-depth understanding of your business.
There will always be someone in the office who can help and our Service Agreement includes unlimited support by telephone and email. We will meet with you once a month to discuss your results and direct your attention to problem areas. We enjoy the Restaurant Business and like to be involved so feel free to contact us with any questions at all; if it is not something we can help with, we can tap into our professional contacts that we trust to help our clients.
CALL US NOW on 020 7253 0064 FOR MORE INFORMATION ABOUT OUR SERVICES AND FIND OUT HOW WE CAN HELP YOU WITH YOUR RESTAURANT OR BAR.
CTB Accounts, 2nd Floor, 7 St John St, London, EC1M 4AA. | Telephone: 020 7253 0064 | Email: email@example.com