All accruals are made by FinanceBox to the management accounts based on expenses received in the following period and known costs unbilled.
This is broadly in line with our expectation of a business of this size with a small inhouse finance function.
As at month-end.
This is broadly in line with our expectation of a business of this size with a small inhouse finance function.
Legal expenses are accrued based on the knowledge of work done and any bills that are received in the following period.
This is broadly in line with our expectation of a business of this size with a small inhouse finance function.
Due on payroll on a monthly-basis processed by outsourced payroll provider and paid in the usual course of business.
This is broadly in line with our expectation of a business of this size with a small inhouse finance function.
VAT reconciliation is undertaken quarterly by FinanceBox and paid to HMRC
This is broadly in line with our expectation of a business of this size with a small inhouse finance function.
Corporation tax is filed at each year-end with the statutory accounts and R&D claim by FinanceBox. Sign-off of adjustments and final accounts is undertaken by BS and the Board.
This is broadly in line with our expectation of a business of this size with a small inhouse finance function.