A Mind of Figures Ltd

A Mind of Figures Ltd A small accountancy firm which provides a professional yet personal service

🌍 World Mental Health Day 🧠The theme for 2026 is “Lived experiences heard: real voices, real change” and talking can hel...
10/10/2026

🌍 World Mental Health Day 🧠

The theme for 2026 is “Lived experiences heard: real voices, real change” and talking can help your mental health.

Here are 5 helpful questions to ask yourself before you open up:

1. WHO CAN I TALK TO? Who do you trust and feel the most comfortable with? This might be a family member, friend or colleague. Or you may want to talk to someone you don’t know, for example, through a support line.

2. WHEN AND WHERE SHOULD WE TALK? Make sure you’re not rushing, and
that you’re in a place where you won’t be interrupted. It might feel more comfortable sharing while doing an activity, like walking.

3. HOW DO I BEGIN? Starting the conversation can be daunting. You could try practising your opening sentence if you’re nervous. You could also try writing down your thoughts and feelings before you talk.

4. HOW MUCH DO I WANT TO SHARE? You’re in control of your story, so think about the level of detail you feel comfortable sharing. You can keep it brief or go deeper — whatever feels right for you.

5. WHAT IF THEY REACT POORLY? They may react as you hope, but they may not, and this can be hard. Try to give them time to process, and more information if they need it. And don’t forget to be kind to yourself and practise self-care.

ℹ Information from Mental Health Foundation 🎗

❓️ Question of the week...This week we have asked our staff "How do you cut your sandwich?"🥪🗳 VOTE A or B
09/10/2026

❓️ Question of the week...

This week we have asked our staff "How do you cut your sandwich?"🥪

🗳 VOTE A or B

👋Meet the Team...introducing William - Accounts AssistantBefore getting into accounting I worked in hospitality, startin...
08/10/2026

👋Meet the Team...introducing William - Accounts Assistant

Before getting into accounting I worked in hospitality, starting out in a café before moving into a hotel, where I ended up running a fair few weddings and various other events. It was definitely a busy environment, but it taught me a lot about working with people, staying organised and keeping calm when things get hectic!

I’ve been at A Mind of Figures for nearly two years now and in that time I’ve completed my AAT Level 3 Apprenticeship and am now working towards my AAT Level 4. Working at AMOF has made my studying experience 100x better, as I’ve been able to put what I’m learning into practice and gain experience across a wide range of areas, from payroll and monthly bookkeeping to Self-Assessments and MTD.

When I’m not at work, I enjoy being outdoors whether that’s playing golf 🏌️‍♂️ going on a hike 🥾 or having a good day out in Leeds🍻. I also enjoy going to the gym 🏋️‍♂️ and, more recently, travelling and seeing new places 🌍. I’ve managed to visit four different countries this year, so I’m making the most of my time outside of work! 🗺

💷 Turnover vs ProfitHigh turnover doesn’t always mean a healthy business.  It’s easy to focus on the money coming into y...
07/10/2026

💷 Turnover vs Profit

High turnover doesn’t always mean a healthy business.

It’s easy to focus on the money coming into your business — especially when you’re working hard to grow sales.

But turnover only tells part of the story.

A business could generate hundreds of thousands of pounds in sales and still make very little profit. Equally, a smaller business with a lower turnover could be more profitable, have stronger cash flow and be in a much healthier financial position.

The important question isn’t just: “How much money is coming in?”

It’s: "How much is left after everything has been paid?”

When looking at the financial health of your business, consider:

📊 Gross profit margin – How much is left after the direct cost of delivering your product or service?

💰 Net profit – What remains after wages, rent, software, insurance, marketing and other overheads?

🏦 Cash flow – Do you have enough cash available when bills, wages and tax payments become due?

📅 Debtor days – How quickly are your customers actually paying you?

⚖️ Break-even point – How much does your business need to generate each month before it starts making a profit?

🧾 Tax – How much of the money in your bank account needs to be set aside for future tax liabilities?

Growth is great, but increased turnover can also mean increased costs — more staff, stock, equipment, software or premises. Bigger contracts can even put pressure on cash flow if customers take longer to pay.

That’s why understanding the whole financial picture is so important.

Regularly reviewing your numbers can help you spot problems earlier, plan for tax, manage cash flow and make better decisions about the future of your business.

A healthy business isn’t necessarily the one with the biggest sales figure. It’s one that understands its numbers, controls its costs and generates sustainable profit.

Need some help? Contact us now:
🌐www.amindoffiguresltd.co.uk
📞01924 682113
📩[email protected]
📍Horbury, Wakefield, West Yorkshire

We had a fun day at Pontefract Racecourse with Booth & Co Business Recovery & Insolvency yesterday. Thank you for your h...
06/10/2026

We had a fun day at Pontefract Racecourse with Booth & Co Business Recovery & Insolvency yesterday. Thank you for your hospitality 🏇

💻 MTD tax traps: getting the detail right mattersThe 7th August was the first quarterly deadline for MTD reporting but d...
06/10/2026

💻 MTD tax traps: getting the detail right matters

The 7th August was the first quarterly deadline for MTD reporting but did you report the right details?

Sole traders must report their turnover and allowable deductions (including the cost of goods, subcontractor payments, staff costs, car and travel, premises, repairs and renewals, office costs, advertising, loan interest, financial charges, irrecoverable debts, professional fees and other business expenses).

If you are reporting as a Landlord your report must include rent received and you can deduct rates, repairs/maintenance, loan interest, professional fees, cost of services and other allowable property costs.

One of the areas where you could easily run into problems is the way expenses are recorded, particularly where a cost has both a business and personal element. A phone, car or home office, for example, may be used privately as well as for business purposes, so make sure that only the appropriate business element is included in the records. Putting the full cost through without accounting for private use could result in an inaccurate tax position and create more work when the figures are reviewed later.

REMINDER: records must be maintained digitally throughout the year and you must be mindful of how that information will interact with the software required.

📅 The next quarterly reporting deadline for MTD is Saturday 7 November

If you need assistance we have MTD advisors who can take over your quarterly reporting for a fixed monthly fee, get in touch:

📞 01924 682113
📩 [email protected]
🌐 www.amindoffiguresltd.co.uk
📍 Horbury, Wakefield

If you think you can get away with not verifying your ID as a company director then think again...a trio of directors ha...
05/10/2026

If you think you can get away with not verifying your ID as a company director then think again...a trio of directors have been fined a total of £553 after failing to comply with identity verification requirements in court action brought by the Insolvency Service for breaches of the Economic Crime and Corporate Transparency Act (ECCTA 2023) 💷

The three directors were also prosecuted for failing to file confirmation statements within the statutory period.

⚠ Reminder: Companies House made it a legal requirement from 18 November 2025 that all company directors must verify their identity and receive their unique 11-digit personal code. The transition period is ending at the end of November so it is really the last call for existing directors to take action!

Directors also need to look beyond their own verification and make sure fellow directors have met their obligations. Ignoring non-compliance or knowingly allowing it to continue, is evidently a risky strategy.

🏉 Congratulations to Wakefield Trinity winning the Super League Grand Final 🎉It’s been great also sponsoring grand final...
03/10/2026

🏉 Congratulations to Wakefield Trinity winning the Super League Grand Final 🎉

It’s been great also sponsoring grand final try scorer Cam Scott for the season 🙌

📩🍰 Calling all cake sheds 🧁Not sure what a 'Cake Shed' is then look out for the colourful unmanned roadside cabinets (or...
03/10/2026

📩🍰 Calling all cake sheds 🧁

Not sure what a 'Cake Shed' is then look out for the colourful unmanned roadside cabinets (or caravans) containing cakes, brownies or biscuits which customers are expected to pay for via an honesty policy.

These trending cake sheds have become a lucrative business with some shed-based bakers making up to £600 a week 💷 however cake shed owners could be facing huge tax bills from HMRC if they haven’t registered for self-assessment!

⚠ Please be aware that HMRC has a number of avenues for determining whether individuals with side-hustles are fully tax compliant or whether they are inadvertently 'jammy dodgers' [pun intended]. With some people not realising that the cash from baking and selling cakes is classed as trading income and should be disclosed to HMRC each year on a self-assessment tax return.

Failing to register for self-assessment can result in penalties of between 20% and 70% of the tax due where HMRC judge the behaviour to have been “deliberate but not concealed” – the unpalatable icing on the top is significant interest charges where tax is paid late!

If you need some assistance with declaring your 'side hustle' then get in touch now:
📞 01924 682113
📩 [email protected]
🌐 www.amindoffiguresltd.co.uk
📍 Horbury, Wakefield

❓️ Question of the week...This week we have asked our staff "Which do you think you could throw the furthest a 🥖 or a 🫓?...
02/10/2026

❓️ Question of the week...

This week we have asked our staff "Which do you think you could throw the furthest a 🥖 or a 🫓?"

🗳 VOTE A or B

⬇️ Head to the comments to see our Helen show you the answer ⬇️

Address

Second Floor, Unit 6, Benton Office Park
Horbury
WF45RA

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 12pm

Telephone

01924 682113

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