Agricultural Business

Are you an agricultural business owner based in England? Look no further than Roake & Cook, attentive chartered accountants who bring a modern approach to rural accounting. We specialise in serving rural businesses throughout Kent and beyond, helping our clients achieve their financial goals.

We’re committed to helping rural-based businesses grow sustainably. We understand the unique challenges that rural businesses face, and we’re here to help you overcome them.

Deeply invested in your success

We’re passionate about helping rural businesses grow and thrive. As a small firm with a big heart, we pride ourselves on offering personalised attention to each client. We’ll take the time to understand your unique business needs and challenges, and we’ll work with you to develop tailored solutions that support your growth and success.

HERE ARE SOME EXAMPLES OF HOW WE CAN HELP YOU:

The agricultural sector faces a multitude of challenges. The ever-changing and unpredictable climate, supply chain interruptions, labour shortages, and fluctuating market demands all make running a business challenging.

Bookkeeping

In our opinion, this is one of the most crucial parts of any business. Having up-to-date and accurate financial information is the cornerstone of all aspects of your business.

Identifying cash flow shortfalls, estimating tax bills, forecasting wage and input increases, and improving credit control are all examples of ways we can help, but they all rely on good bookkeeping.

We provide bookkeeping services, to free up your time and let you focus on running your business, and we also assist in implementing new software and provide training for those who wish to do it themselves.

Accounts

Cloud software enables us to work with you to produce accounts sooner. Gone are the days of not hearing from your accountant until a month before your accounts are due or being told your tax bill a day before it is due to be paid.

Accurate bookkeeping enables you to make business decisions. Accounts are for compliance purposes and finalising tax calculations.

Tax Services

Tax savings play a vital role in your business’s cash flow. No one wants to pay unnecessary tax, and our expert knowledge of capital allowances, tax-efficient remuneration, and tax planning opportunities helps ensure this is not the case for you.

Forecasting tax bills and building them into cash forecasts enable better decision-making and planning.

Diversification

The changing weather, consumer demands, labour supply, and financial support all contribute to the need for many agricultural businesses to diversify.

We work with you to plan, forecast, and implement these changes to your business.

Payroll

Agricultural businesses tend to be labour-intensive. It is important that staff are paid accurately and on time. This helps with retention and recruitment and provides accurate financial information.

We provide payroll services for businesses ranging from 1 employee to seasonal businesses with 600 employees.

Embrace modern accounting for greater visibility and control

Gain real-time insights into your business performance with modern accounting. We use cloud-based accounting software and tools to provide you with real-time insights into your financial performance. This means you can see how your business is doing at any time, from anywhere, and make informed decisions about its future.

We’re part of the rural community, and we’re here to help you succeed.

As part of the rural community ourselves, we understand the unique challenges and opportunities that rural leisure and tourism businesses face. We’re passionate about helping our clients succeed, and we’re committed to providing insightful advice and tailored solutions that meet their specific needs.

Martin and Helen Cook

Contact Roake & Cook today to schedule a consultation and experience the difference a modern approach to rural accounting can make.

Our husband and wife team brings a personal touch to our services. We genuinely care about our clients and go above and beyond to deliver exceptional service. You won’t be treated like just another number; instead, you’ll experience the warmth and dedication that comes from working with a team that genuinely values your success.

Building lasting relationships is at the heart of what we do.

Here are some examples of clients we have in the Agricultural Business industry and some key examples of how we have helped them:

Charlie, Arable farm

Like many farmers, Charlie started out with an arable farm which he had inherited from his parents. He has since diversified, with several non-farming related ventures to smooth out cashflow.

Charlie had a gut instinct that certain parts of the business were underperforming, but bookkeeping was not up to date and annual accounts were being provided 9 months after the year end. Last minute tax bills were causing further stress and he wanted to get on top of the numbers.

We took over the bookkeeping on a monthly basis. We keep everything up to date, deal with VAT reporting, and provide monthly management reports showing results and cashflow. We use these to identify trends, areas of focus, and where cashflow may become tight.

Tax estimates are provided, as well as forecasting VAT bills. All of which mean no last minute notice of tax bills.

Annual accounts are dealt with well before filing deadlines, but they are not used for planning. Monthly reporting means they confirm tax bills, but business decisions are made based on up to date numbers.

We have also helped Charlie with some scenario planning on new ventures, as well as looking how fluctuating labour, energy and input costs would affect next years’ harvest. No forecasting is 100% accurate, but having a good idea of how profits and cashflow will look, enables better decision-making and gives advance warning of issues on the horizon.

FAQS SPECIFIC TO AGRICULTURAL BUSINESS

How can cloud accounting software help my business?

Regular and accurate bookkeeping, combined with the use of modern software, allows business owners to know how their business is performing now – not 9 months after their financial year- end.

Having your numbers at your fingertips allows faster decision-making and removes the worry about how your business is performing.

Implementing time saving features such as automated invoicing, digital time-sheets and automated debt control all free up time.

Parts of our business are seasonal, which makes predicting cashflow difficult. Can you help?

Yes, we can. Firstly, accurate and up to date bookkeeping ensures you understand how your business is performing in real-time, not weeks or months down the line.

Secondly, forecasting with scenario planning can help you predict how changing costs will impact your business in the coming months and years.

No forecast can be 100% accurate, but it provides planning opportunities. Putting cash aside for shortfalls, looking at alternative income streams to smooth out dips, and identifying areas to improve are examples of decisions that can be made off the back of accurate numbers.

Fluctuating energy costs, along with inflation, make it hard to estimate cashflow. Can you help?

Yes, we can. Firstly, accurate and up to date bookkeeping ensures you understand how your business is performing in real-time, not weeks or months down the line.

Secondly, forecasting with scenario planning can help you predict how changing costs will impact your business in the coming months and years.

No forecast can be 100% accurate, but it provides planning opportunities.

We also have access to an energy broker, who can often beat market rates by 10% or more.