1

Our purpose is to help our clients

Make Money, Save Money, Look Good, Feel Good.

2

The business landscape of today is significantly different to what it was fifteen

or twenty years ago. Recent and ongoing advances in technology have touched

every industry, changed others completely and even created new ones. Those who

embrace these changes grow and prosper: those who dabble or ignore them will

fall behind.

Retro accountancy can’t help you:

If you were buying a laptop, television, digital watch or mobile phone (for your

daily use), would you choose a model from the 1990s or today’s latest model?

Especially if there was no difference in the cost.

Most accountants today still rely on antiquated systems and apply a twentieth-

century, grey-suited accountancy mindset to their customers’ businesses. Our

customers take their businesses more seriously and choose services which add

value, embrace innovation and help them to realise their goals.

Get Into the Cloud: Modern systems with cloud accounting and bookkeeping

Get a Smart Accountant: Intelligent support, business planning and fast

returns

Get up to Speed: Real-time reporting, forecasting and bank reconciliation

Get a Great Team: A personal, professional and supportive accountancy team

Get Promises Delivered: Service guarantees and a positive impact on your

bottom line‘Some people don’t like change, but you need to embrace change if the alternative is disaster’Elon Musk, founder, CEO, and CTO of SpaceX and product architect of Tesla Motors

3

Get Into the Cloud:

Cloud accounting makes profits soarMeades Group are proud to be Watford’s only Xero Gold Partner accountancy team.

That means that we don’t just ‘use’ the world’s most powerful cloud accounting

software, we partner with Xero and help direct its ongoing development. Some of

Xero’s key features include:

Online invoicing: Faster payments, automatic recurring invoices and

scheduled payments

Mobile access: Access your account from anywhere for balances,

receipts and invoices

Free updates: Automatic software updates with innovative

developments and extras

Unlimited users: Your whole team, accountant and bookkeeper can

work together online

Smart reports: A whole range of powerful real-time and forecast

reporting at your fingertips

Unlimited email support: Xero and Meades’ experts are always on

hand to help

In Meades’ hands, that means your money works harder, faster and smarter for

your business. Your finances will take on new meaning and relevance, giving you

greater control and more time, with efficient processes and increased profitability.

4

Old-fashioned accountancy doesn’t add up A 2015 survey on mobile phone usage revealed that ‘making calls’ ranked as the 6th

most popular use of a smartphone, behind texting, browsing, email, photography,

social media and alarm clock. This is reflected in business evolution too, and is

particularly relevant to accountancy.

Filing your returns (long after those numbers serve any useful purpose) and

keeping you legal is way down the list of what your accountant could and should

be doing for you today! Just like your smartphone, Meades can put so many

powerful benefits at your fingertips to help manage and grow your business. You

don’t even need to understand ‘how’ we do it, you just get access to the business-

critical information you need in an instant.

This is APPsolutely essential

The world is still changing and, whether you like technology or loathe it, the reality

is that you need smart business information to stay ahead. Apps, tablets, smart

TVs and the like are designed to be fast, user-friendly, and deliver the information

you need, hassle-free. Meades Group has been designed to do the same.

Get a Smart Accountant

With 500+ time-saving apps, Xero is infinitely flexible

Stripe

UnleashedHubdoc

GoCardlessFloatSpotlight

5

Get Up to Speed

You can’t plan tomorrow unless you can clearly see today The most important part of any plan is knowing where you are now. For decades,

accountants’ standard service meant that your returns, management figures and

company accounts were calculated long after your year-end – and that was if you

had a good accountant. In reality, this has always been too late to be of any use to

a business, but today it doesn’t need to be. The technology is at our fingertips to

be get 24/7, real-time information about where your numbers are today and how

best to plan for your future.

Meades make your numbers work for you

Working with Meades Group means all of your key financial information is

available to you in the present. Much more than that, though: we will tell you

exactly what your numbers mean:

The amount you need to plan and put aside for tax

How to reduce your tax bill and decrease other costs

The hidden secrets to increasing your profit

Benchmarking your performance against your competitors

Which products and services are making you the most profit

Where to focus your investment and improvement resources

Accurately forecast just how exciting next year could be for your

business

And many other valuable and clarity-driven business planning insights

6

Get a Great Team

All the tech in the world can’t replace great peopleWe believe it is our responsibility to add value to your business by providing

innovative, workable solutions to problems. That is our promise to all of our

customers.

As a company, we believe in embracing technology to increase the efficiency,

value and management information that we provide to our customers. With this

comes the even greater benefit of being able to give you more of our personal

attention: working with you, getting to know your business, and bringing out the

best in your numbers.

Investing in a new office in the Philippines was a great move for us, and our

clients. A shortage of qualified accountants in the UK created a challenge in

growing our team quickly. Cloud technology has enabled us to recruit overseas

to protect our guaranteed service level promises. You can read more about our

unique guarantees on page 7.

Process and technology can make a business run well, but it is the people involved

who turn a good business into a great one. Our aim is to be involved in making

your business great.

Joanne Catherine Debbie

Pauline

Joe

Dominic

NATASHA

Arbyn

NatalieLee

Beccy

Paul

6

7

Get Promises Delivered

Unique guarantees and service level promises We have all come to rely on technology today. When you turn on your tablet,

sat-nav or smartphone you expect it to give you the information you need in that

instant. The years of development, expertise, testing and gathering data which

lead to the instant result are not your concern: you simply engage and the device

delivers exactly what you need. Nine times out of ten we are happy with the result,

and so we take it for granted!

The only real difference between Meades Group and your all-singing, all-dancing

smartphone is that we are guaranteed to deliver every time. We never need a

recharge, we update automatically, we are always current, always friendly, and

always listening to our customers’ needs. In short, we always deliver the results

you need: hassle-free.

Our 100% service guarantee

If you are ever unhappy with any aspect of our work, we will – without question

– respect your right to pay whatever amount you feel is more appropriate for

that month. In other words, if at the end of any month you are not completely

delighted with the work we have done for you in that month, simply let us know

and we will raise a credit note against the most recent monthly payment to reduce

it to whatever amount you believe is fair, based upon your judgement of the value

you have received.

8

Start by choosing the service package that best fits your needs. Each package is

a fixed price and the cost can be spread across equal monthly payments, meaning

you can budget effectively.

A simple fixed fee is agreed in advance for each project: so you can

budget effectively.

Overruns are our problem: if we have to work harder, you only pay the fixed

fee.

All fees are paid by monthly Direct Debit: helping you to budget and spread

the cost.

This ensures you get fast, accurate accounts and returns, avoiding penalties and

enabling smarter, more strategic financial decisions to be taken for your business.

Unlimited free ad hoc advice

Our fixed fees include unlimited access to our entire team for advice on ad hoc

matters, so you can call at any time without worrying about the cost. Only if we

need to start an Extra Work Order (EWO) will we agree another fixed fee with you

for the work to be completed. That means you can rest assured that we will never

charge you for work without having agreed a fixed fee with you first.

Tailored Services and a ‘No Surprises Fixed Fee Policy’

9

How We Will Work Together to Achieve Success

To be effective, we believe that professional relationships need to be based on

mutual trust, mutual support, mutual respect and mutual integrity. As a result

we only work with clients who share our belief in the importance of these four

factors. In practice, that means that we make a commitment to each other:

Our commitment to youWe will always do everything in our power to:

Keep you fully informed about what’s happening with your business, and

complete every task on or ahead of time – so that you never have to chase us

Operate on the principle that a problem isn’t solved, or a piece of work

finished, until you are 100% delighted

Reply to every telephone message or email within 24 hours

Reply to every letter within 48 hours of the day we receive it

Maintain the high standards of integrity, honesty, openness, professionalism

and confidentiality that you rightly expect from us

Refer our contacts to you where we believe they could benefit from your

products and services

Always be on the lookout for new ideas that could help you to build an even

more successful business and achieve your business goals

Do what we say we are going to do, when we say we are going to do it

Your commitment to usYou will always do everything in your power to:

Maintain the high standards of integrity, honesty and openness that we

rightly expect from each other

Tell us immediately if we do anything that you are in any way unhappy with

Provide us with all the information and answers we need to carry out our

work – within the mutually agreed timescales

Reply to our requests for information or work approval in a timely manner

Refer your contacts to us where you believe they could benefit from our help

10

Every business is different and is best helped by a service designed for its specific

needs. Speed, efficiency, accuracy, care and attention come as standard for all

our customers, and we can tailor everything else around your individual stage of

growth.

Traditional accounting often misses opportunities to make a genuine difference

to a business, so we have designed a service that proactively looks to highlight

areas where we can help maximise the benefits available to you. From compliance

services to strategic business advice, working with Meades Group you will have all

the support you need, when you need it.

To help get you started, over the next few pages we will show you the typical

services required by businesses at different stages of growth. All our service

packages can be tailored to your needs – so if we have included something you

don’t need, we can take that out; likewise, if there are additional services you

would benefit from, we can add those in.

Start now: which of the 5 Stages of Success does your business best fit? Now

have a read of the services we recommend for your stage of growth: will these be

a good fit for you?

To build the ideal package for you and your business we recommend speaking to

one of our team; they can answer any questions you may have and direct you to

the services that will deliver the biggest impact for your business.

Call us on 01923 800444.

Stages of Success for Growing Businesses

11

Company Profiles

Paul Meades, FCPAPaul has been the driving force of Meades Group since 1997. He has developed the

business from a traditional accountancy practice to a company that understands

the needs of business owners and provides essential services to ensure their long-

term health and prosperity.

If you choose to work with Meades Group, this means in addition to your accounts

being fully managed, you will have experts on hand to advise you on business

strategy, tax planning and personal wealth.

Paul’s enthusiasm for time-saving, profit-improving technology is limitless. He has

ensured the team at Meades Group are at the cutting edge of cloud accounting

and actively contributes to its ongoing improvement.

‘By embracing change and technology business owners can improve their

efficiency and spend more time doing the things that they want to do,

rather than the things they feel they have to do.’

Paul is the author of‘How to Make Your Company Fly’.

This 32-step business development programme is organised into super-charged,

easily digestible bite-sized chunks guaranteed to have a powerful impact on the

strength and value of any business. Take a strategic approach to change and see

how far these 32 steps can take you.

You can get your copy from Amazon:

https://amzn.to/2IyzOv3 or give Paul a call and ask for a complimentary copy.

12

STAGE SOLOPRENEUR LEAN BUSINESS GROWING BUSINESS

MATUREBUSINESS POWERHOUSE

TEAM 1 2-8 5-20 17+ 50+

ANNUALREVENUE <£100k £100k-£500k £500k-£2m £2m-£5m £5m+

YEARS INBUSINESS 0-1 2-4 3-6 7-10 10+

MONTHLYINVESTMENT

LEVEL£175 £175-£625 £625-£2,500 £2,500-£6,250 £6,250+

POSITIVES &CHALLENGES

• Profitable

• Independent

• Spinning lots

of plates

• Tight team

• No money

• No time

• Stressful

• Revenue good

• Cash flow bad

• Scalability challenges

• Growing pains

• Firefighting

• Systems challenges

• HR challenges

• Revenue good

• Cash flow bad

• Scalability challenges

• Firefighting

• Systems challenges

• HR challenges

• Management challenges

• Staying ahead

• Money is good

• Scalable

• Strategic thinking

• FD support essential

• Structural challenges

• Exit strategies

GOALS

“I feel like I have a job, not

a business, and need help to manage my

finances”

“We need to increase our revenue and

think more like a larger business”

“We need to improve our cash

flow so I can sleep at night”

“We need to scale our

business, but we need to do it

profitably”

“For our business to thrive we need broader expertise than an internal FD can provide”

13

Recommended Services

SOLO

PREN

EUR

LEAN BU

SINESS

GR

OW

ING

BUSIN

ESS

MATU

RE BU

SINESS

POW

ERH

OU

SE

Annual Accounts & Corporation Tax Returns

Our Address as Your Registered Office

Company Secretary

Tax Investigation Protection

Client Manager Support

Personal Tax Returns

Personal Tax & Remuneration Planning

Company Vehicle Tax Planning

Payroll Health Check

VAT Health Check

Proactive Business Planning

Client Director Support

Budget Review Meetings

Board Meetings

3-Way Budgets and Forecasts

4 12 12

4 4 12

14

Partnerships - Annual Accounts & Partnership Tax ReturnsAs a business owner, you are required to prepare statutory accounts

and submit these to HMRC annually. This is all included within your

quote and you will have peace of mind knowing that this is all taken

care of for you by Meades Group.

We’ll also estimate what your tax bills are going to be for the next 12

months so you can plan your finances in advance, to make sure you

don’t pay HMRC a penny more than you have to.

This service also includes preparation and online submission of your

partnership tax return.

Sole Trader - Annual AccountsAs a business owner, you are required to prepare statutory accounts

and submit these to HMRC annually. This is all included within your

quote and you will have peace of mind knowing that this is all taken

care of for you by Meades Group.

We’ll also estimate what your tax bills are going to be for the next 12

months so you can plan your finances in advance, to make sure you

don’t pay HMRC a penny more than you have to.

Customise Your Package With Any Additional Services

Financial Controller ServicesOur Financial Controller services ensure that you are fully compliant and that everything’s in order.

Limited Companies - Annual Accounts & Corporation Tax ReturnsAs a limited company, you are required to prepare statutory accounts

and submit these to Companies House annually. This is all included

within your quote and you will have peace of mind knowing that this

is all taken care of for you by Meades Group.

You are also required to file a Corporation Tax Return annually with

HMRC. We’ll take care of everything that HMRC requires and inform

you of the Corporation Tax payment required in plenty of time.

Limited Liability Partnerships -Annual Accounts & Partnership Tax ReturnsAs a limited liability partnership, you are required to prepare

statutory accounts and submit these to Companies House annually.

This is all included within your quote and you will have peace of mind

knowing that this is all taken care of for you by Meades Group.

You are also required to file a Partnership Tax Return annually with

HMRC. We’ll take care of everything that HMRC requires and inform

you of your Personal Tax bills in plenty of time.

15

Company Secretarial ServiceDealing with all Company/LLP secretarial work, including

writing up and maintaining the Register and the Share

Register, preparing dividend vouchers where applicable

and all statutory forms for filing at Companies House; for

example, appointment and resignation of directors/members.

Tax Investigation Protection Service In the event of any enquiry from HMRC or the VAT man, we will be able

to deal directly with the officers concerned, use our premises to meet

with them (so you won’t have to), and answer all of their questions

on your behalf – and our fees will be paid by our insurance policy.

Business Legal HelplineA legal expert is only a phone call away and most importantly, the

advice is free with unlimited calls, in plain English and they are open

24/7 365 days a year. Don’t put your business at risk - the law changes

constantly and the helpline ensures you have the right support,

when you need it most.

Construction Industry Scheme (CIS) Services Completion of monthly CIS300, online submission to HMRC and

provision of subcontractor statements every month.

Client Manager SupportThis gives you access to a dedicated Client Manager as your single

point of contact for all emails, telephone calls, letters, meetings and

general day-to-day queries.

Use of Our Address for Your Registered OfficeBy using our address as your company’s registered office, we will

receive all of the formal and legal correspondence from HMRC and

Companies House, which we will deal with for you and only contact

you if there is something that needs your attention.

Property Investment Companies - Annual Accounts & Corporation Tax ReturnsAs a property investment company, you are required to prepare

statutory accounts and submit these to Companies House annually.

This is all included within your quote and you will have peace of mind

knowing that this is all taken care of for you by Meades Group.

You are also required to file a Corporation Tax Return annually with

HMRC. We’ll take care of everything that HMRC requires and inform

you of the Corporation Tax payment required in plenty of time.

It is also vitally important that you select the correct accounting

treatment for the preparation of these accounts as there are two

accounting standards that are applicable and these are called section

105 or 102. Section 105 is a much simpler method of preparing

your accounts as all properties are accounted for on a cost basis.

Section 102 accounts for properties on a current valuation basis and

therefore takes much longer to complete but will be looked far more

favourably upon by investors and lenders.

Confirmation Statement ServicePreparation and online submission of the Confirmation Statement

to Companies House every year, giving details of the business

name, registered office, company/LLP number, names of Directors/

Members, Shareholders/Shareholding details, and notification

details of persons of significant control (PSC).

16

Reconciling Your Sales InvoicesIn order to ensure you have up-to-date lists of money owing to you

so you can keep on top of your cash flow, we’ll log in to your Xero

accounting system every month and reconcile your sales invoices.

We’ll need copies of any remittance advices your customers have

supplied you with so send them over to us too and we’ll do the rest.

Running Your Credit ControlGetting paid on time is critical for successful cash flow. You need

to invoice sales promptly and ensure debts are chased and resolved

quickly. This is something we know our clients find frustrating and

time-consuming.

Let our team take care of this for you. Your sales invoices will be

issued on time with full and accurate details – leading to fewer

queries and speedier payments. We will also actively chase unpaid

invoices, or better still we can help you implement payment systems

that eliminate late payments altogether; just ask us for the details.

Processing Scanned Purchase InvoicesWe’ll set up a unique email address and arrange for all of your

suppliers to send their invoices there. We’ll log in monthly and post

those invoices into your Xero accounting system so your payables

list is always up to date, and we’re ensuring up-to-date reporting.

Reconciling Your Business Bank AccountsIn order to ensure you have up-to-date lists of receivables and

payables, and up-to-date financial reporting, we’ll log in to your Xero

accounting system every month and reconcile your business bank

accounts.

*Please note that these fees are based on Xero receiving data via a

direct bank feed from your bank account. Other charges may apply

if this is not possible.

Reconciling Your InvoiceDiscounting or Factoring AccountIn order to ensure that you comply with the reporting requirements

of your finance provider, we will reconcile your invoice discounting

or factoring account in Xero and report to the finance provider

accordingly. This will mean that you won’t have to worry that your

finance facility will be withdrawn by the provider for non-compliance.

Raising and Sending Your SalesInvoicesMost clients raise their own sales invoices because they want to get

them to their customers as soon as possible, but if that’s too much

for you, then we can process them for you each month.

Bookkeeping ServicesOur bookkeeping services are designed to save you time and money whilst taking the pain outof getting everything together. We will show you the benefits of real time accounting and the positive impact it will have on your business. Choose to have your bookkeeping updated monthly, weekly or daily, according to your business needs and aspirations.

17

Scanning Paper Purchase InvoicesIf you want to bring your paper invoices to us to process we’ll use

our scanners to scan them and then send them to a unique email

address. We’ll log in monthly and post those invoices into your Xero

accounting system so your payables list is always up to date, and

we’re ensuring up-to-date reporting.

Making Supplier Payments and Reconciling Supplier StatementsOnce your supplier invoices are in Xero, they need paying. We’ll use

our experience to manage suppliers to get you the best possible

payment terms and then log in to your online banking to make the

payments, ensuring that we have a legitimate receipt for every

payment.

Posting Your Stock JournalIn order to ensure you have up-to-date financial reporting so

you know how profitable your business is, we’ll log in to your

Xero accounting system as often as you want and post the stock

adjustment journal from your stock control system.

Preparing and Submitting VAT ReturnsWe will be preparing and submitting your quarterly VAT returns

ongoing, meaning that you will be well aware of your VAT liabilities

and able to keep the VAT man happy! We’re not just filing a bunch

of numbers, though, we take a five step approach to our VAT returns

service:

1. Create a recurring quarterly job in our job management

system so we NEVER miss a deadline and begin work on the

VAT return a week after the quarter end.

2. Carry out an audit of ALL transactions for the period –

check that purchase VAT has been claimed on every

transaction that it should have been and, conversely, that it

hasn’t been claimed where it shouldn’t have been.

3. Ensure that you are on the best scheme to maximise your

cash flow – cash or accruals. Also keep an eye on going over

the threshold at which you HAVE to move to accruals by

obligation.

4. Send you notification of the amount due within 4 weeks of

the quarter end, giving you 10 days’ notice of the amount to

be taken automatically via Direct Debit.

5. File the VAT return on time, every time.

Posting Your Year-end JournalsIn order to ensure you have up-to-date financial reporting so you

know how profitable your business is, we’ll log in to your Xero

accounting system once your year-end accounts are finalised and

post any year-end adjustments so that the accounts in Xero match

your statutory financial statements.

18

Fluidly SubscriptionFluidly is an intelligent cash flow management tool that produces a

forecast in minutes and gives you a powerful look into the financial

future of any organisation.

It will save you hours every month chasing late payments with its

intelligent credit control software that also updates your forecast

in real time, giving you a true insight into the cash position of your

business.

FloatGet a real-time view of your numbers and make more confident

decisions about the future of your business.

Xavier AnalyticsXavier is a toolkit of intelligent data cleanup, bookkeeping and

compliance tools designed for Xero Professionals to ensure accurate

reporting of financial data and business performance.

Spotlight ReportingShedding light on business performance. Spotlight Reporting

connects with Xero to provide business owners with integrated

reporting and forecasting that allows you to create insights to

inform better business outcomes.

ChaserXero users are using the Chaser app to transform their credit control.

They are giving their automated chasing the human touch that gets

their invoices paid. They are harnessing the power of the insights

provided by Chaser to better decide which customers to grant credit

to and how best to chase up customers to pay their invoices.

Market FinanceSeamless funding solutions for ambitious business leaders.

TransferWiseThe cheap, fast way to send money abroad.

UnleashedAchieve complete control of your products - and instant clarity

across suppliers, production, inventory/stock and customers.

Software and SubscriptionsThe software or Apps that we recommend using to maximise efficiencies in your business.

Xero (Beautiful Accounting Software)

Xero charge a monthly subscription for using their software. Rather

than paying multiple invoices for Xero and accountancy, this allows

you to consolidate everything into one monthly fee so you have just

one payment coming out of your account each month.

Xero Payroll

We will manage your Xero Payroll subscription which is priced

by Xero on a per-employee basis with a minimum number of 5

employees.

Hubdoc Subscription

Hubdoc is a cloud platform that allows you to capture all of your

purchase receipts in one place via email, account upload or via their

scanning app on your mobile device.

AIO

AIO helps you control your business expenses by providing individual,

prepaid debit cards to designated employees.

GoCardlesss

GoCardless makes it easy to automatically collect payments from

customers via Direct Debit and reconcile them in your accounting

software.

Stripe

Stripe makes it easy for you to take online or in-person payments

from your customers.

People HR

This software will store all of your HR records in the cloud so that

they are accessible by you and your team 24/7, from wherever you

are.

We can manage your system for you and keep it up to date or you are

free to do this yourself.

19

next generation expense management

20

annual P11D forms to HMRC for each employee who receives these

types of benefits.

PAYE Settlement AgreementCalculation and completion of your annual PSA for entertainment

expenses, etc., that are provided for employees, ensuring the

business is operating as tax-efficiently as possible.

Paying Team Salaries & PAYEWe’ll make the monthly pay run to pay all of your staff salaries and

expenses so you don’t need to worry about finding the time to make

sure this vital process is carried out on time. We’ll also arrange for

your PAYE payment to HMRC to be processed on time to avoid any

penalties or interest charges for late payment.

Posting Your Monthly Wages JournalIn order to ensure you have up-to-date financial reporting, we’ll log

in to your Xero accounting system every month and post the wages

journal from your payroll summary report.

Monthly Payroll ServicesPayroll these days can be a minefield and take up a lot of your time.

We can take care of your payroll and ensure you comply with all

statutory regulations and deadlines.

Monthly Auto Enrolment ServicesFor customers using our payroll services, we are also able to provide

an auto enrolment solution to keep you compliant by dealing with

all of the paperwork required to operate an occupational pension

scheme for your team.

Monthly Annual Leave CalculationsDo you have team members who work irregular hours? If so,

calculating their accrued annual leave entitlement can be extremely

complicated and time consuming - let us take the responsibility for

this.

P11DsIf you provide benefits to your employees – cars, private medical

insurance, gym membership, etc. – we will prepare and file the

Payroll ServicesOur Payroll services ensure that your team get paid properly, on time, every month and ensures that your business is fully compliant with HMRC and the Pensions Regulator.

21

will allow us to proactively plan for your wealth creation strategies,

utilising your retained after tax profits.

Company Vehicle Tax PlanningWe will carry out a planning exercise each time you consider buying a

new vehicle to ensure you are aware of the most appropriate method

of finance and the minimisation of tax liabilities.

Payroll Health CheckWe will review your payroll records to ensure that you are complying

with all the requirements. This will minimise the risk of penalties and

interest from any subsequent visit from HMRC.

VAT Health CheckWe will review your VAT records to ensure that you are complying

with the VAT requirements. This will minimise the risk of penalties

and interest from any subsequent visit from HMRC.

Advanced Tax Planning Pre Year-endWe will advise you on the range of advanced tax planning

opportunities available to you that have already completed our due

diligence process.

Taxation ServicesOur tax planning services will ensure you pay the least amount of tax legally possible.

Personal Tax ReturnsPreparation and online submission of your personal tax return[s],

calculating your tax liabilities and advising on the payments of tax.

This includes a 25% discount for providing us with all information by

31 October; otherwise additional charges will apply.

Accounts for Rental PropertiesCompletion of statements of rental income for all properties owned

for year ended 5th April for inclusion in Self-Assessment tax return

Personal Tax and RemunerationPlanningWe will carry out a personal tax planning review to ensure you are

aware of any opportunities to minimise your personal tax liabilities.

We will also review your remuneration strategy to ensure that you are

extracting any profits from your business in the most tax-efficient

manner possible. Action taken here will allow us to proactively plan

for your wealth creation strategies and personal tax bills so that

there are no surprise bills from HMRC.

Business Tax PlanningWe will carry out a detailed tax planning review two months

before your accounting year-end to ensure you are aware of any

opportunities to minimise your tax liabilities. Action taken here

22

Reserves and Retained ProfitA factor in calculating your credit rating will be your reserves and

retained profit. Compare your numbers to the previous year – do you

expect to see an improvement or a decline in your credit rating as a

result? Doing this early allows you to take action to ensure you are

always maintaining or improving your score.

Fixed Assets and Opportunities to Make Use of Annual Investment AllowancesShould you invest in fixed assets before your year-end to reduce

your tax liability? Consider the impact this will have on your balance

sheet. This is a strategic decision and should not be based solely on

the calculation of tax. Never let the tax tail wag the dog.

Investing in Tax Efficient Electric CarsElectric cars will see zero, or very low, Benefit in Kind (BIK) tax in

2020. This changes the advice we have given in previous years for tax

efficiency, where BIK negated the tax efficiency of purchasing your

car through your business but be aware that electric vehicles are not

cheap, and range can be an issue so analyse the options strategically.

Leasing CommitmentsIf you have leasing commitments that are due to renew, consider

the impact of an improved (or worsened) credit rating in your

negotiations. If you expect an improvement in your credit rating,

it could serve you well to wait, if possible, to secure your new

contract. Regular reviews of your leasing commitments should be

done throughout the year, with the associated costs updated in your

budget.

Revaluation of Owned PropertiesIf you own your property, you can strengthen your balance sheet

with a re-valuation. Reflecting the current market value of your

building will increase the value of the fixed assets on your balance

sheet and look good to anyone viewing the financial strength of your

business.

Your Bank BalanceThe bank balance displayed on your year-end accounts must reflect

a healthy, well-managed business. Chasing those stubborn debtors,

being conservative on stock purchases and taking a balanced view

on capital asset purchases are just a few ways to improve your bank

balance quickly.

Bad Debt ProvisionBy chasing your debtors early, you will know which are likely to turn

into bad debts. Acting early and consistently will ensure that bad

debtors do not go unchecked – and end up costing you more. You will

reduce your Corporation Tax liability by identifying bad debts before

filing your accounts.

Current Assets and LiabilitiesCompare your current assets and liabilities with last year – have they

improved? Start thinking early about ways you can further enhance

this. Taking proactive steps to improve your credit rating will make

you a low-risk prospect to lenders and more attractive to suppliers,

helping you to secure better terms.

Stock LevelsAn annual physical stock check is essential, more frequently for

some businesses. If you are losing stock to pilferage you need to

tighten up security – it is no different to someone taking money out

of your wallet. If you are carrying more stock than you need, you

are locking up cash in physical goods – and then paying to insure

them! Streamlining your stock control will improve the health of

your business.

Estimate Corporation TaxYour Corporation Tax is accounted for on your year-end date. While

the monies are not due for 9-months if you have not provisioned for

the payment your balance sheet will look weaker than it otherwise

might. This would reflect very poorly in the eyes of investors, lenders

and suppliers. Consider this early and plan out how to put funds in

place.

Proactive Business PlanningGetting your business in the best possible shape is no different to improving your health and fitness. You would not expect a single session at the gym, no matter how gruelling, to give you a toned physique, and your business is no different. Start planning early to get your businessin tip-top condition ahead of your year-end.

At Meades, we take a holistic approach to planning, factoring in all aspects of your business and goals. Your filed accounts are a window into your company for lenders, suppliers and potential partners. They must see your business in the best possible light – and we are here to help you make that happen.

23

R&D Claim EligibilityIf you can claim for research and development, start early. The

process generally includes evidence of staff costs, i.e. the percentage

of their time invested in R&D, as well as other documentation to

support your claim. The best time to collate this information is at

the time of the project.

Your Director’s Loan Account BalanceYou will face additional tax liabilities and National Insurance

contributions if your Director’s Loan Account is overdrawn. If you

are in credit, you can consider making a withdrawal.

Mileage and Personal Expenses Not Yet ClaimedSmall purchases are often overlooked and forgotten. Having a system

in place to claim for personal expenses and mileage throughout the

year is the most efficient way to ensure you reclaim everything you

are entitled to. If you have overlooked this, start now and get your

claims up to date.

Scope for Additional Pension PremiumsPension contributions are one of the most tax-efficient ways

to extract money from your business, for your benefit. If you

have surplus funds that are not required to fulfil your personal

financial goals or commitments, we recommend additional pension

premiums. Calculating this in advance will give you time to compare

different options, from the perspectives of tax-efficiency, having

cash available to you and growing your pension fund.

Using your Home as an officeYou might overlook this as it is just £18 per month per business, but

it is tax-free. We make sure you claim for everything you legally can.

Director’s RemunerationWill your previous years’ remuneration be enough to meet your

expectations, commitments and aspirations for the year ahead? Will

you be impacted by changing tax rates? Do you need to increase

your remuneration to meet the demands of school fees, mortgages

or other personal costs? Can your business support additional

remuneration or do you need to make adjustments?

Staff BonusesPaying bonuses before your year-end will give you the benefit of

a reduction in Corporation Tax. However, it could also negatively

impact your balance sheet. You might need to consider paying

bonuses later to protect your credit rating.

Budget for Next Trading YearCreating your agenda for the next 12 months of trading is one of the

most powerful ways you can set about reaching your business goals.

We recommend sharing some of this with your team, so they know

what they are accountable for and how their contribution impacts

the whole organisation and what the rewards will be.

24

Client Director SupportYour investment gives you access to a dedicated Director-level

Client Manager. This means you have access to the highest level of

experience.

Budgets and ForecastsWe believe that every business should have a 3-year financial

budget to plan where you want to be heading. This gives direction

to the board and the entire team as to what the business is trying to

achieve, so you are all working in sync.

We’ll create, manage and update a rolling 12 month 3-way forecast

of profit and loss, cash flow and balance sheet, so you always know

what the future financial performance and position of the business

looks like, based on what we already know today (committed sales

and costs). This is about bringing the future into the present, so you

can do something about it. We’ll also enter that budget in to Xero so

that you will have 24/7 access to your numbers and can review your

budgets anytime.

Regular Budget ReviewsEffective budgeting is a monthly task. For your budget to support

you in making strategic decisions in your business, you need to

know if you’re on track. Monthly budget reviews do just that.

Working with us, you’ll be using the power of the cloud to see

where your business is going. You’ll be able to flex your budget

throughout the year to stay on target for your overall goals

while navigating the changes that invariably happen in business.

Board MeetingsWe will attend selected key business meetings as an objective

and experienced resource, to help you make more of your

meetings. You choose what you need from us, from silent

observer to chairing the meeting, technical advisor to independent

sounding board, or as a facilitator for brainstorming sessions.

You have the option to choose a Client Manager, Partner or

Senior Partner to support you during your board meetings.

Advisory Support to ScaleTo complement the support of your Meades accounting team, you

will have access to an advisory specialist with knowledge, expertise

and a proven track record in your marketplace. We will match you

to experts who can guide you through the typical step-change and

management issues faced by businesses who are actively growing.

Management AccountsRather than a set of accounts just once a year, you receive a fully

reconciled set of accounts with a report pack containing your profit

and loss account, balance sheet and variance analysis to either

a prior year or budget. We also include a full ratio analysis with

graphical representations of the key performance indicators of your

business and their trends over the last year. We also offer a Premium

Management Accounts package, whereby we can include bespoke

reports on any aspect of your business that you may wish to monitor

from one period to the next, such as team happiness, covenant tests,

customer average spend, customer spend frequency, team costs,

turnover analysis, etc.

Finance Director ServicesOur Finance Director services allow you to make better decisions about the future.

25

Property Experts

Whether you own one buy-to-let property or you are planning a portfolio of three to

three hundred, the landscape for landlords is changing. Stamp duty adjustments,

tightening legislation and gradually reducing mortgage tax relief leading up to

2020 will affect everyone who owns more than one property. There is no escaping

the changes that are coming for landlords!

There are, however, better ways to manage, build and reduce the cost of growing

your property empire. The key to negotiating the legislation, avoiding the traps

and maximising your income is PLANNING: and to plan well you need to know the

terrain ahead. That’s where Meades Group can help.

Some obstacles to tackle:

We have already guided hundreds of property investors to safety and success,

and we can do the same for you. Here are some of the obstacles we can help you

overcome:

Capital Gains Tax: avoid or reduce the bill

Inheritance Tax Planning: ensure you don’t pay to pass your property on …

What sort of mortgage: commercial or buy-to-let?

Stamp Duty: do you really want to pay this for each property?

Individual or Limited Company: work out which is best for you

Investment or trading business: which are you? Why it matters …

Managing your property in the cloud!

As a Xero Gold Partner, we show our customers how to use cloud accounting

software to autonomously manage and control all of their property costs and

income. If new legislation is making the business of property investment more

complex, then cloud accounting is giving it the clarity of a new horizon.

25

26

Case Study

Xero. Now I manage my bank, invoices and client details all in one

place and they have a running view of my business. I was blown

away – it was so much easier to manage – and I never did have to

take anyone on for the bookkeeping.

Q: What has it meant for your business?A: Having the trust in them means I don’t have to waste time

learning things that I don’t want to learn and that will distract me

from what I do. I just get to do the exciting things like checking the

balance. I can concentrate on running a successful business.

Q: What led to you choosing Meades Group?A: I’ve been in business since 2007 – I specialise in building websites

for small to medium-sized businesses. I knew of Meades Group

because Paul did my father’s accounts.

Q: What do you like about working with them?A: I like the fact that they’re always happy to answer the phone

and talk about anything. I have an annual meeting with them and

they’re always eager to help when I ask for advice. I tell them about

my long-term plans and they always help me make my business

work towards those.

The cloud accounting software [called Xero] has made my

bookkeeping amazingly simple. Also, Stephanie is fabulous when

I’ve forgotten which button to press, so the IT support is great too.

I pay my monthly fee and I know I’ve got all the support I need. I had

a VAT audit and they dealt with it all.

Q: How do you find the service?A: Basically, it’s brilliant – I only have a small business but I don’t

feel like a burden ringing them. I reel from the thought of doing all

the things that Meades do for me – what I like is that it’s all sorted.

Q: What are the main benefits for you of working with Meades Group?A: I have a lot of trust in them and I can just let them get on with

sorting my accounts in the way I want them. I was just about to

take on someone to do my bookkeeping and then they introduced

Q&A with Matt McAuliffe of Nuwave Design Ltd

“I never did have to take anyone on for the bookkeeping”

26

27

Case Study

Q&A with Bill Pamplin of Julian Thwaites & Co Ltd

“It’s transformed our business and how we do our accounts.”

Q: How do you find the service?A: I’m guaranteed to speak to someone there and then, or get a call

back within ten minutes with an answer or to say they’re on the

case. All the people we speak to are brilliant.

Q: What are the main benefits for you of working with Meades Group?A: Where Paul excels is that he doesn’t just work as an accountant.

He’s always been really encouraging with good advice and ideas on

what we should be doing to grow our business. He’s been absolutely

fabulous in helping us on the responsibilities that we have to take

on as directors. The advice goes beyond accounting and it has been

really important to us.

Q: What has it meant for your business?A: It’s taken us from a situation where we wouldn’t know the state

of our accounts until eight months and three weeks after our year-

end. Now, with Meades, I know at any time what our business is

doing. I’m confident now to be the boss of a business. We had a

vision to expand the business and Meades have given us the tools

to do so.

Q: What is your business?A: I’m a Director of Julian Thwaites & Co. We buy, sell and restore

stringed instruments, including violins, cellos and double basses.

It’s a family business, established by my father, and it has been

going for over 40 years.

Q: What led to you choosing Meades Group?A: It was a recommendation from our bank manager. We had plans

to improve and increase the business, and even at the first meeting,

Paul appeared to be someone who was very interested in what we

were doing and where we wanted to go.

I got the impression that we would get what we needed from him

as we transitioned to a modern company. And we have – without a

shadow of a doubt.

Q: What do you like about working with them?A: Paul and his team were very, very encouraging. It’s transformed

our business and how we do our accounts. I know where my

business is at any particular time through cloud accounting. We

used to work it out with pen and paper – and then they were often

approximate figures. Now [for example] I can see on any day of the

month what our VAT liability will be. I’m also starting to work on

forecasting.

I had a client in yesterday from Scandinavia who was interested in

an instrument. The transaction was complicated so I rang Paul and

within the space of the conversation, I had the answers I needed

to make the transaction happen in a fabulously tax efficient way.

27

28

Case Study

Q: What has it meant for your business?A: It’s meant that I can concentrate on the business rather than

worry about the accounts. It’s terrific. It’s the peace of mind of

knowing you have a team of professionals working for you. They

encouraged us to move to Xero [online accounting software] and

it’s easy to check financial information such as what invoices are

outstanding. The other nice thing is that I’m working with people

who work in the same way that we do. It’s great to feel that we are

all on the same page.

Q: What is your business?A: We are commercial architects working for clients that include

major pensions providers, funds and developers. We perform at a

very high level – working very efficiently and fluidly – and that’s what

I expect from the professionals I work with.

Q: What led to you choosing Meades Group?A: I hadn’t been totally satisfied with the service of my previous

accountant. After I heard a presentation by Louise [Williamson],

and then spoke with her, I arranged a meeting with Paul Meades. He

was very reassuring and helped me to relax a lot over my anxieties

around my accounts.

Q: What do you like about working with them?A: They instil me with confidence. When I sat down with Paul, he

explained exactly what he was going to do and why, as well as what

I needed to do to help him achieve that.

Q: How do you find the service?A: They’re very efficient, yet they always give me the impression that

I’m the only person who’s important to them. It’s a very personal

service. They’re always smiling, always happy – and that makes me

happy too.

Q: What are the main benefits for you of working with Meades Group?A: They enable to me sleep at night because they’re so professional.

Q&A with Chris Mew of CRM Architects Limited

“They enable to me sleep at night because they’re so professional.”

28

29

Value Added Services You Will Not Get Anywhere ElseWe go further to help you get the most from your personal and business finances. We leverage our professional network to bring you exclusive deals and opportunities. These are just some of the ways we are currently helping our clients.

Private invitation only investment opportunitiesIntroducing Propiteer• An exclusive members only investment club founded by Lord Sugar’s Finance Director and Advisor• For high net worth, commercially aware and sophisticated investors• Incentivised referral scheme available• Exceptional property investments from £5,000 per preference share / bond

Membership can be offered FREE to clients and with NO obligation to invest

Raising FinanceWith various types of financing available to businesses, and a multitude of funding companies out there, each with their own rates, rules and areas of expertise, it is hard to know where to start. Meades Group has recently partnered with a company that specialises in finding the perfect match for funding, with access to hundreds of funding companies and a unique software solution that narrows down the most relevant suppliers. Not only have we found their service to be excellent, Meades Group are certified to support you through the process.

INTRODUCING...GrowthdeckProviding tax-efficient and growth investment opportunities for their network of sophisticated private investors and introducers.

Growthdeck focus heavily on providing their investors with tax efficient opportunities that maximise returns. Their team has extensive experience in identifying investments that qualify for the Enterprise Investment Scheme (EIS) and relief against inheritance tax and capital gains.

Why choose Growthdeck?• Tax-efficient investments• Private fundraises• Networking events• Sector experience• Class-leading platform

INTRODUCING...TAG Financial PlanningWorking with Meades, TAG Financial will work with you in order to achieve your goals. They take the time to understand what is important to you, what your plans for the future are and ensure you have enough to make it happen. Life can throw many obstacles in the way, TAG Financial aim to clear the path and act as your guide.

TAG Financial Planning Limited is an appointed representative of Navigator Financial Planning Limited which is authorised and regulated by the Financial Conduct Authority. Our FCA number is 827617

3030

31

Your Notes and Next Steps

32

Meades Group Limited39 The Metro CentreTolpits Lane, WatfordHerts WD18 9SB

01923 80044401923 803444experts@meadesgroup.comwww.meadesgroup.com