Inventory and Stock Valuations for Financial Year-End
For many businesses in the UK’s licensed trade, April 5th signifies the beginning of a new tax year and the rush to complete pub, bar and catering business accounts for the year just gone.
An important part of End of Year accounts for any pub, bar, hotel or restaurant is providing your accountant with an accurate valuation of your inventory / stock. After all it is one of your key business assets.
However, whether it’s a liquor, dry bar, wet bar or catering audit, providing the key figures to your accountant isn’t always as simple as just counting what’s left in your cellar or kitchen. And, that is where the services of a stocktaker proves invaluable.
A qualified independent stock auditor can provide an end of year valuation that includes product counts, overall value and even help you to spot discrepancies or issues that need to be addressed.
End of year certification
What’s more, members of the licensed trade stock auditor body (ILTSA) can provide your accountant with an End of Year valuation certificate that is an official & recognised business document for your business.
Missed the year-end, but need a valuation?
If you need a year-end valuation but the year-end has passed it is still possible to get a year-end stock valuation. An experienced and qualified stocktaker can conduct an inventory valuation later in the month and adjust to the year-end date by using your sales & purchasing data.
Wiltshire, Gloucestershire and Bath Inventory/Stock Auditor
Paul Hunt of Hunt Management Solutions is an experienced stocktaker and is a qualified and Accredited member of the Institute of Licensed Trade Stock Auditors.
Based in Wiltshire and servicing businesses in the South West, including Bath and Gloucestershire, Paul can provide end of year inventory certificates for businesses in the hospitality trade.
Find out more about Hunt Management stock and inventory valuations»