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Covid Business Recovery

Cloud Accounting LLP will help your business survive and thrive during Covid19 by offering you a Strategic Recovery Plan which includes:

  1. IMPROVING YOUR BUSINESS MODEL
  2. UNDERTAKING A BUSINESS HEALTH CHECK & FINANCIAL PLAN
  3. IDENTIFY & PLUG FUNDING SHORTFALLS

REVIEWING YOUR BUSINESS MODEL
• Consider existing market conditions and the possibility of new markets.
• Consider options to rebuild income streams.
• Consider options to reduce costs and implement efficiencies.
• Consider alternative supply chain options.
• Consider potential for synergies with other businesses.
• Assess financial and operational risks.
• Identify and prioritise key strategic issues impacting the business.
• Consider any further contingency planning should severe lockdown measures be re-introduced or further potential disruption as a result of the UK’s exit from the EU.

HEALTH CHECK AND FINANCIAL PLAN
• Provide details of historical trading performance and financial position for the last three years.
• Consider short-term cashflow needs and impending liabilities as a result of reduced trading, tax deferments or loan repayment holidays.
• Consider the wider working capital cycle, credit terms in the industry, the need to hold higher levels of stock than normal.
• Consider the current standing of key customers and suppliers and the potential to insure the debtor book.
• Consider options around the asset base such as the ability to liquidate surplus assets, the potential use of HP and sale & leaseback of premises.
• Provide three-year projections, including monthly profit and loss, balance sheet and cash flow statements. Excel versions of these documents should be included in the final report provided to the business.
• Provide details of key assumptions used in the projections and evidence that the assumptions have been challenged.
• Undertake a sensitivity analysis on the key assumptions identifying impact of these on the projections.

IDENTIFY FUNDING SHORTFALLS / DEBT RESTRUCTURING
• The Strateguc Recovery Plan should equip businesses to approach potential funders to seek funding/investment if necessary.

• The plan will identify funding shortfalls and make recommendations
regarding attaining additional finance and/or restructuring existing finance.
• Recommending additional debt consider key banking ratios such as debt
service cover and the potential for promoters to make a meaningful contribution toward the financing needs of the business.
• Consider alternative funding options and the potential for equity investment.

CLOUD ACCOUNTING LLP

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ONLINE CHARTERED ACCOUNTANTS

BELFAST ADDRESS
Catalyst Inc,
Titanic Quarter
Belfast
BT3 9DT
+44 2895 219365


LONDON ADDRESS
New Broad Street House
35 New Broad Street
London EC2M 1NH
+44 207 971 1002

Name: Cloud Accounting LLP
Email address: richard@cloudaccountingni.com
Phone: +447868663538