Some info about us

 

Why us?

It’s a good question, For a lot of people an accountant is useful. We handle the paperwork, we make sure you pay the right tax, claim what you are entitled to claim, prepare your returns and submissions and make sure you comply with the rules and regulations. So you can get on with doing what you do best. Running your business.
For many people, that's all they want. The stress, the hassle and the time it takes to do it all, is often is worth every penny they pay. They're getting a service along with peace of mind.

 

Adding Value

We here at Arc believe in a little more than this! We want to add a little extra value to the services we offer. So, whilst we are more than happy to take away the strain of bookkeeping, tax returns, PAYE, CIS etc, we think we can provide extra value, and it lays withing Management accountancy.

For example, we are doing the bookkeeping for a baker, a one person business providing cakes, confectionary, bread and quiches. They send us their sales and purchases every week. We input the bills and raise the invoices, reconcile the bank balance and keep the records. Once a year we do the tax return and inform the client of the amounts they need to pay to HMRC. Now, imagine that same baker sends us their sales and invoices, we process the transactions, reconcile the bank balance and send the Baker a weekly report. This report would detail the number of cakes, sold, the number of quiches sold etc, along with the profit margins for each product. We ask the baker to keep a note of the time it takes to finish a cake/ loaf of bread, etc. Giving us another metric to analyse. Before long we can identify, not just which item is making the most money (in terms of sales vs. expenses) but also we now have a time factor. We can drill this down further to things like 3 tier cakes, wedding cakes, birthday cakes, large quiches, small quiches, sourdough bread or wholemeal. We can also provide detail on the most popular items, what time of year certain items sell best, etc. All these things that should the baker wish to utilise, helps steer the direction of the business into a more profitable venture.

But why do that?

You may ask yourself, "Why would a baker need this much information" and the answer is they probably don't. But if this baker decides to cut down their hours for personal reasons or spend more time doing other things, and we already know they make more money baking cakes than bread or quiche. Then they could potentially switch to a cake making business. Meaning more profit subsidising the reduced hours.

Its not always that simple but we believe the benefits of commercial/ management accountancy can really help sole traders and partnerships. It shouldn't just be reserved for limited companies or large corporations. We want to bridge that gap between Financial accountancy and Commercial/Management Accountancy. Truly integrating the skill set to the benefit of the client.

It might not be for you, if you're after something a little different please feel free to get in touch to discuss your requirements

We have experience in the below types of Businesses

  • Sole Traders

    From bookkeeping to personal tax returns we have you covered

  • Partnerships

    Partnership returns, self assessment, bookkeeping payroll and more. Get in touch to see how we can help

  • Limited Companies

    SME's are the backbone of this economy. We want to provide the support you need,

Get in Touch

A little about why we started Arc

Arc began as an idea during the 2020 Covid-19 pandemic. Our MD was entering his 8th year in industry finance and having worked in Legal, Supply Chain and Construction finance he felt now was the perfect time to start something new.

For those who are interested It’s most commonly accepted their are two type of accountants, Those in industry (Management/ Industry accountants) and those in Practise (Practise or financial accountants) Those in industry often are immersed in the field they’re working in, dealing solely with one business (often employed by just one company) be it Medical, Supply Chain, Construction etc. they work with Directors, Shareholders, management and stake holders to drive the business forward and generally take care of all things financial. Practise accountants detail with multiple clients in a multitude of different fields. The have to be versatile and adaptive., as there are different rules and regulations depending on the industry they are dealing with. Practise accountants are used to dealing with many different client, where as industry accountants often deal with the same people. Its rare for the two to cross over.

However our MD believed their are benefits for more integration between the two different types. So taking his industry experience in supply chain and Construction, and his client dealing experience in Legal finance he launched Arc in Oct 2021. After nearly 18 months of research on client base, Insurance, GDPR, and CPD. Having started with a handful of clients the business is beginning to grow.

Our MD has been a member of the AAT since 2014 and achieved MAAT status in 2021. We do also carry full Professional Indemnity insurance and are Members of ICO, which regulates GDPR requirements.