Number crunching

I’ve spent much of the day working on PFE’s accounts for the year ending 31 December 2004, and I’ve achieved quite a lot:

  • tallied the entire year’s expenditure records and reconciled them with the bank statements, for transactions in Sterling and in euro (PFE is a dual-currency business – I leave my accountant to reconcile it all into a single financial statement suitable for the tax man and Companies House)
  • tallied the additional personal investment made by me in 2004 (not insignificant, it turns out)
  • tallied the income records for the year (again, in two currencies)

I’ve still got several things to do, most notably to get my mileage records for 2004 into a format that is suitable for presentation to the powers-that-be (i.e. not scribbled on the back of an envelope) and compile the list of creditors and debtors at year end. In summary, performance is in line with expectations. The turnover is around twice that of the preceding year, and is expected to continue to grow in 2005. Additional revenue streams will come online in the current year and it is projected that PFE will break even in the current year, depending on trading conditions.
Of course, the main thing is that PFE retains the confidence of its principal creditor (me). I expect that the full financial report will be ready by the end of next month when it shall be presented to the AGM of shareholder (note singular).

6 Replies to “Number crunching”

  1. Well hope the AGM goes well and that no-one (else?) raises a vote of no confidence and decides to just bugger off down the pub instead 😉

    It’s reading stuff like this that puts me off starting my own business ya know. That and I’ve not discernable talent for any one thing in particular (Jack of all, master of none!)

  2. Oh, I expect the AGM to pass off without any problems. Only shareholders and company officers may attend. Since there is only one shareholder (me) and one other officer (my Dad), things should run smoothly. Usually we serve notice of the AGM by me saying to Dad "We need to hold an AGM. Shall we do it now?" We then sign off all the relevant documents (there are usually only two) – both my accountant and my bank provide ready-made documents for the purpose (we basically have to approve the financial reports, so it is a case of filling in the dates and signing) – and then have a cup of tea. If it takes more than three minutes, something is wrong – so long as the Company Secretary (Dad) is satisfied that the Director (me) is not embezzling the Company, all is well.

  3. Damn you and your efficiency! My mileage figures for this last tax year will be of the highly creative kind. Cobbled together by checking where I bought petrol and chocolate over the preceeding 12 months.

  4. felicitaciones! good to know the business is growing nicely and you are happy with it.

  5. Dave – that’s the same system I used, but I had managed to progress from tatty piles of receipts for Snickers to a scribbled list on an old envelope. It is now a wonderful Excel spreadsheet.

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