Nursery World - Market View: Managing your accounts

Leah Turner, co-founder of Owen Froebel, which offers day nursery brokerage, valuations and sales, on keeping track of income and managing your accounts.

In many cases, individual settings and sole traders rely on their end of year accounts to report their incomes and costs, and this is the first thing a buyer and their lender will request. However, a set of accounts produced nine months after year end will only tell half the story.

As you approach sale, it is a good idea to review the accounts breakdown and your own in-house tracking of income and costs to ensure they are showing correct information and present the setting in the best light.

This also allows you to have all the information at your fingertips and give you more insight into the day-to-day finances and how they convert to the end of year accounts, rather than gasping in shock at what you’ve spent when the accountant presents it to you.

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