Accounting for your creative vision
Our flagship project, Work of Art, is specifically designed for organisations within the Arts sector. Our innovative framework provides orchestras, theatres, museums and galleries with the tools and strategies that save time and reduce costs associated with programme development and audience outreach.
“A work of art does not answer questions, it provokes them; and its essential meaning is in the tension between the contradictory answers.”
Leonard Bernstein
Turning your numbers into a masterpiece
We encourage organisations to explore the rich tapestry of creation and the complexities within their artistic expressions, and how that reflects in their balance sheet. By engaging and committing to incorporating this framework, organisations are not merely performing; they are participating in a dynamic dialogue, asking pertinent questions about their identity, audience engagement, and the evolving landscape of the Arts.
Approaching things differently
We empower organisations to maximise their time and financial resources, creating a more efficient and innovative operational framework. Our approach is centred on streamlining processes and optimising budgets, enabling organisations to allocate their efforts towards what truly matters – their core mission and creative pursuits. The aim is to leave their in-house teams with more capacity to explore Bernstein’s idea; that the real beauty of a performance lies in the interplay of contrasting ideas and interpretations.
By focusing on these two vital resources - time and money - our work allows artistic groups to fully embrace the paradoxes and tensions inherent in their art, driving them toward innovative performances that resonate deeply with their audiences, secure in the knowledge of a financial foundation that has been built with integrity and efficiency in mind.
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Our onboarding process starts with a thorough assessment of your organisation's primary goals, your operational workflows and the financial framework already in place. It’s a rigorous analysis but we trust that it reveals both the inefficiencies and avenues for better resource allocation. We figure out where you’re depleting your time and resources, and how to change it.
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Once we’ve integrated data analytics we can begin to meticulously track your KPIs, to identify the critical areas where time and finances are being squandered. We never suggest making changes for the sake of it. We value your time, and our own. So our frameworks are built around this mission to nurture your organisation to thrive. Our tailored suite of innovative tools allows our clients to project the potential effects of these modifications, ensuring that decisions are supported by robust data.
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Once we’ve established the optimal allocation of your resources, we develop a customised action plan detailing specific, measurable actions for you to take. This strategic roadmap not only guides efficiency but also positions the business for enduring growth. By continually assessing progress and refining strategies, we aim to empower organisations to maintain crucial flexibility that benefits us all. Our work goes beyond numbers, we leverage the latest technology and best practices to ensure that you have clear, actionable data at your fingertips - empowering you to make informed decisions quickly.
WORKING WITH US
MASTERING THE ARTS
We know that our work impacts our clients for the better, we’ve seen it time and again. As a team with over 20 years wisdom and experience at the forefront of advancements for accountech, we're poised with the right attitude and foresight to create true impact.
We understand the current problems that the industry faces too, and we’re committed to engaging with the brightest minds to help face these needs head on.
Over the years we’ve grown our expertise to enhance efficiency and ensure that each investment of time and money aligns with a business’ long-term objectives.
We strive to revolutionise finance functions across the Arts.
Being the best at what we do, so that you can be the best at what you do.
OUR PROCESS
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While the intrusion of AI ripples through artistic communities with necessary trepidation, when it comes to our finance structure, it’s a necessary and welcome advancement. Collaborating with it intentionally and consciously is vital as we move forward.
We see it for the tool it is and will become; a way to reclaim the lost time and money that the pace of this modern world has taken from us. Automation is a founding pillar of the new age workplace, with AI managing the load of those monotonous but essential tasks.
We intentionally collaborate with these tools, freeing you to explore the ways your creativity can be nurtured to prosper and remain dynamic. We offer a robust and solid foundation behind the scenes, to ensure the Art you offer can remain free to change and morph, to continue to provoke, inspire and heal.
Aided by the efficiency of our automated tools, each month we’ll check-in to see that the processes and systems we’ve designed are still delivering the information needed, for those accurate insights into what you want for the organisation.
This includes:
Team members have payment cards used for business expenses as well as being able to claim and repay mileage claims once reviewed within
Using a document capture tool to capture invoices and apply default coding and VAT extraction if applicable
Finance inbox management
Having bank accounts linked to the finance software to ensure little and often actions leading to up-to-date finances throughout the month
Budget holders approving invoices for payment in finance software
Running payment runs for approved invoices
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We recognise that Arts organisations have unique needs when it comes to understanding how financial structures work in the UK. From navigating tax exemptions to managing public and private funding streams.
This may also look like payroll, which we’ll manage and remind you of in time for your employees’ pay date; if it’s a VAT quarter we’ll prepare the return ready for your approval before submitting and updating your cashflow records with the accurate numbers to prepare for.
Yearly, we’ll look at the year-end accounts for Companies House.
This includes:
VAT returns
Payroll returns
Companies House updates
Annual accounts preparation for independent review or audit, based on the month updates by keeping on top of the automation.
Creative tax returns
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In today’s economic landscape, the Arts sector faces unique challenges and opportunities. As markets shift, governments change and funding sources evolve, artists and organisations are pushed to adapt quickly and strategically.
From changing stakeholder expectations to fluctuating grants and sponsorships, the financial pressures are real, but we believe so are the possibilities for growth. As a team we understand the dynamic nature of this creative industry and work alongside our clients to navigate these changes.
While none of us have a crystal ball to see into the future, we stay on the pulse to make informed choices about the next fiscal step. Together, we want to help you look at your finances and feel empowered too.
We provide financial guidance that allows creative organisations to thrive, no matter how the landscape shifts. Together, we want to help you look at your organisational finances and feel empowered too. Knowing your accounts provides more ease and opportunity to see growth and freedom in both.
Translating your numbers is what we’re best at. We understand how to maximise a seasons’ income, and strategise on the ones that didn’t meet your expectations. Accurate reporting is the key to this, because the numbers simply don’t lie. Together, we can see clearly what’s in your scope to scale and manage that growth wisely and sustainably. As creatives ourselves, we’ve mastered the art of translating your numbers, so you can focus on what they mean to you, your teams and your artistic communities.
This includes:
Management accounts reports for budget holders
Finance board reporting
Budgeting and forecasting
Cashflow and treasury management
Financial risk register management
Finance committee attendance
Ready to master the art of your organisations’ finances?
Thank you for taking the time to find out more about our approach. If you want to take the next step towards working with us, get in touch.