Head of Finance

JOB TYPE: PERMANENT

JOB ID: 41569

SALARY TYPE: ANNUAL

SALARY RANGE: From GBP £55,000.00 to GBP £75,000.00

Vacancies: 1

ADDED DATE: 26-07-2024

JOB DESCRIPTION:

Role: Head of Finance

Type: Permanent

Onsite 5 days per week

 

Lucid Connect are recruiting for a UK group of companies specialising in the manufacturing, wholesale and resale of Automotive styling parts, including a specialist automotive dealership located in Milton Keynes.

 

The businesses are appointing a newly created position as Head of Finance to manage the finance department for the UK companies, reporting back to the board and majority shareholders. Collectively the UK businesses turn over in excess of £70m GBP Per Annum and with an aggressive expansion plan mapped out for the next 48 months, the company expect that to grow by a 4-5x multiplier. As such, there will be expansion within the finance department in line with the projected growth.

 

The successful candidate will be required to have a background in the automotive industry, with knowledge all aspects of the motor industry, from a compliance, process and tax perspective (including margin scheme processes). As the parent company is based in the Netherlands, speaking Dutch as a second language and knowledge of Dutch processes will be an advantage.

 

Currently, the business has a relatively small accounts team, so this position, whilst it is considered senior with responsibility, the successful candidate will be required to work with the team where required on any day-to-day duties.

 

The position is office based, at the companies HQ, Tongwell, Milton Keynes, working Monday-Friday 8.30 to 5.30.

 

Duties to Include, For All Companies;

 

Monthly

 

Management Accounts

 

Balance sheet

Reconcile bank accounts

Review fixed assets and add any additions to the fixed asset register (recode any expense items added in error, e.g. printer toner)

Review and reconcile Part Exchange and Contra account. Investigate any unbalanced items and adjust/correct if required.

Review aged debtors for old and unpaid debt or unusual transactions. Discuss with sales and ascertain if provisions or adjustments are required.

Review stock. Check for unusual or negative balances (paying particular attention to vehicles). Discuss any anomalies with the team and correct/adjust, if required.

Monitor & Process any vehicle stock write downs for demo stock.

Discuss obsolete stock reserve with senior management

Review Rent & Rates Prepayments and update accordingly.

Review Aged Creditors for any old or debit balances. Discuss with team and adjust if required.

Review all accrual accounts and adjust if required.

Reconcile Stocking Facilities to funding statements.

Investigate differences and adjust if required.

Check PAYE and Pension creditor agrees with HMRC (for PAYE) and Pensions schedule (for Nest). Investigate any differences and resolve.

Review HP creditor and check to schedule of HP  agreements.

Check all inter-company balances agree. Investigate any differences.

Reconcile Ebay sales and Shopify transactions, correcting direct postings made by Shopify in Quickbooks.

 

Profit and Loss Account

Analytical review of all income and expenditure accounts. Investigate any significant variations and follow up with team as required.

Process margin VAT from schedule.

Correct any transactions where incorrect nominal ledger accounts have been used (particularly cost of sales accounts when new stock codes are created).

Create journals for accruals/prepayments (particularly Advertising, Rent & Service charge, Rates, Light & Heat, but all accounts are reviewed).

 

Non Management Accounts

 

Monthly

Complete National Statistics Surveys.

 

Quarterly

Prepare and file VAT returns.

Work with Logictics and Parts Department on the stock check and entering the final adjustments into Quickbooks.

Providing assistance during the stock check cut-off process.

 

Annually

Prepare accounts and audit file for external accountants to include all reconciled balance sheet accounts and schedules.

Work with auditors during annual audit providing detailed explanations and evidence, where required.

Work with and provide information to our tax specialists for all corporation tax computations and accounts.

Assist with R&D tax credit information providing documents as required.

Checking annual statutory accounts and tax computations, suggesting amendments where required, prior to finalization and signature.

 

Daily/Ad-Hoc

 

Working with the accounts team and providing accounting support and assistance, general ‘mucking in’ with the team to get the daily jobs done.

Also working with sales team where complex/unusual transactions occur or foreign transactions resulting in VAT adjustments/refunds.

Creating new General Ledger accounts as required.

Working with senior management on projects requiring financial advice and support.

Attend to HMRC reviews/audits as required (both on site and by email).

 

If you are available and interested in this opportunity, please apply for further information. Please note due to high volumes of applications we are unable to contact every application.

 

If you do not hear back from us within 7 days of sending your application, please assume that you have not been successful on this occasion.

 

At Lucid, we celebrate difference and value diverse perspectives, underpinned by our values ‘Honesty, Integrity and Pragmatism’. We are proud to provide equal opportunities in line with our Diversity and Inclusion policy and welcome applications from all suitably qualified or experienced people, regardless of personal characteristics.

 

If you have a disability or health condition and seek support throughout the recruitment process, please do not hesitate to contact us via the details below.