Worked example — not a real client file
Verified deal file
The file reconciles.
- Filed accounts FY22–FY24 → management accountsFiled accounts FY24 → management accounts
- AgreesDoes not agree
- AgreesAgree, line by line, in all three years.Does not agreeTurnover differs by £19,000. Management £4,318,000, filed £4,299,000.
- Add-back bridge → presented profitAdd-back bridge → presented profit
- AgreesFlagged
- Agrees£214,000 bridged. Nothing repeats.Flagged£61,000 presented. £48,000 of it recurs in both prior years.
- Director’s loan account → balance sheet movementDirector’s loan account → balance sheet movement
- AgreesFlagged
- AgreesNil at each year end.Flagged£84,000 out across the year. Nothing back, nothing said.
- Customer concentration → sales ledgerCustomer concentration → sales ledger
- AgreesFlagged
- AgreesLargest customer 9% of revenue. Three largest 24%.FlaggedThree largest customers 61% of revenue. Largest 34%.
- Stock and work in progress → filed balance sheetStock and work in progress → filed balance sheet
- AgreesAgrees
- AgreesTies to the filed balance sheet.AgreesTies to the filed balance sheet.
