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Management Accounts & Reporting

Monthly management accounts, KPI dashboards, cash flow forecasting, budgeting, and board-level financial reporting for strategic decision-making.

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Written by Asrah Abbas, ACA / ACCA — Principal at Westfin Accountants Ltd
Chartered accountant with 12+ years of UK practice experience. Member of the Institute of Chartered Accountants in England and Wales (ICAEW) and the Association of Chartered Certified Accountants (ACCA).
Last updated:

In plain English

Management accounts are monthly internal financial reports — Profit & Loss, Balance Sheet, Cash Flow — used to run the business, not to file with HMRC. Westfin produces a monthly pack with variance analysis vs budget, 13-week rolling cash-flow forecast, and KPI dashboards (CAC, LTV, gross margin, ROAS) tailored to your industry.

Key thresholds & rates (2026/27)

Specific numbers matter when planning. These are the figures we work with day-to-day, sourced from current HMRC and Companies House guidance.

  • Quarterly Instalment Payments (QIPs) trigger: profits > £1.5m (or > £20m for very large companies)
  • Statutory audit threshold: turnover > £15m or balance sheet > £7.5m + > 50 employees
  • Bank covenants typically require monthly management accounts within 21 days of month-end

Statutory references

We work to the published HMRC, Companies House and FRC guidance. The primary sources we cite when advising clients:

Worked example

Worked example — Manchester SaaS preparing a Series A

A Manchester SaaS at £1.2m ARR prepares for a £3m Series A. Westfin delivers a 36-month financial model, monthly cohort retention analysis, gross-margin reconciliation between Stripe MRR and recognised revenue (ASC 606 / IFRS 15 lite under FRS 102), and a board pack with CAC payback, magic number, and rule-of-40. Due diligence completed in 6 weeks with zero accounting flags raised.

What's Included

Monthly management accounts (P&L, Balance Sheet, Cash Flow)

KPI dashboards and scorecards

Cash flow forecasting and budgeting

Variance analysis

Board-level financial packs

Scenario planning and modeling

Why Choose Our Management Accounts & Reporting

Real-time business insights

Informed strategic decisions

Improved cash flow visibility

Early warning of financial issues

Investor-ready reporting

Better resource allocation

Frequently Asked Questions

What is the difference between statutory accounts and management accounts?

Statutory accounts are year-end accounts required for Companies House and HMRC. Management accounts are internal monthly reports providing timely insights into your business performance, allowing you to make informed decisions.

How quickly can you produce management accounts?

With cloud accounting and regular bookkeeping, we produce management accounts within 5 working days of month-end. This ensures you have timely information for decision-making.

What KPIs should my business track?

Common KPIs include gross profit margin, net profit margin, cash runway, debtor days, creditor days, and customer acquisition cost. We help you identify the most relevant KPIs for your industry and business model.

Ready to Get Started?

Speak to our specialists about Management Accounts & Reporting