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Audit for Business Development and Solutions Limited

Audit for Business Development and Solutions Limited is a firm of Chartered Accountants and Statutory Auditors registered to carry out audit work in the UK and Ireland by the Association of Chartered Certified Accountants. The audit company is independent of Accountants for Business Development and Solutions (ABDS). ABDS is 100% owned by and under the control of the Principal, Mrs Lavinia Newman. Audit for Business Development and Solutions Limited is 51% owned by, and under the control of, Mr Peter J Ham Senior Statutory Auditor, and 49% owned by Mrs Lavinia Newman.

Our team has vast experience of such audits with all sizes of clients in various sectors such as:

  • Owner managed companies
  • Property, engineering, building, retailing, motor vehicle franchises
  • Charities
  • Schools
  • Industrial and Provident Societies and Friendly Societies
  • Solicitors (accounts examinations)

As well as statutory audits we may perform independently audited reports in respect of grant applications. Such audits may be combined with accounts preparation and tax minimisation.

Why have an Audit?

Whilst annual business accounts are required to meet your business’ statutory obligations, if they are prepared in a timely and economical way, they can provide valuable information for decision making and planning. We actively manage the timing of the accounts production process to ensure that you meet your statutory responsibilities and through this information, take advantage of early tax planning opportunities. Audits provide a cornerstone to financial reporting. They furnish valuable and reliable information to banks, tax authorities and others who desire to make financial decisions. Although audits are decreasing because of changes in the criteria requiring them, there are nevertheless still a large number of Medium-sized Enterprises requiring an annual audit. An audit is required by statute for companies that do not qualify as small companies. A company qualifies as a small company if it meets at least two out of three conditions being; its annual turnover is less than £6.5m; its gross assets do not exceed £3.26 million; and its average number of employees must not be more than 50. If a company fails to meet at least two of these conditions then it is not a small company and will require a statutory audit. An audit provides assurance that the financial statements are reliable, and that they give a true and fair view of the results and activities of a business.

Our Approach

Our approach to your audit can transform what is deemed an unnecessary cost by many SME’s into a valuable annual health check for company directors. Our aim is for our clients to view the annual audit, whether statutory or voluntary, as an opportunity, not an overhead, and we believe that our processes can actually serve to enhance the operation of our clients’ business by providing our clients with early warnings, open communication and the resolution of issues arising. In order to perform effective audits, we must not only audit our clients’ financial records, but also be familiar with clients’ operations, the industries in which they operate and the economic events which have impacted upon their businesses.

Besides helping you meet the statutory requirements; we also take the opportunity to conduct a review of your financial and management systems. This can often result in our identifying potential problem areas and recommending opportunities to improve your business performance. We discuss the problems and opportunities with you and help you implement any agreed solutions.

We see the preparation of your annual report as an opportunity to enhance your external and internal image. A well-prepared report can have a considerable positive impact on the perceptions of owners, customers and suppliers, and even your own staff - all of which greatly improves your business prospects for the future.

In short, we consider the annual audit of a company's records to be a part of the comprehensive service we offer to help achieve the goals of the owners of the business. We are focused on delivering a quality and cost effective audit that goes beyond the compliance with a regulatory function. We will also make recommendations to you based on our audit findings, to help you improve your internal financial and control systems and to help you improve the performance of your business. 
 
For further information, or if you wish to speak to a member of our Audit Team, please call us on 023 8083 6922 or go to Contact Us.

Audit for Business Development and Solutions Limited
Company Number: 06337350 (England & Wales)
Registered to carry out audit work in the UK and Ireland