Financial information - Understanding your finances

Once you have contacted us, we will let you know what information is required in order to get a clearer picture of your business’s financial circumstances. The type of financial information required by us to make an assessment for an arrangement will vary depending on the nature and size of a business, but will typically include the following:

 

Documentation required Why AIB (GB) needs this information

1. Financial Information/ Projections

  • Latest Audited/Certified Accounts as appropriate
  • Income & Expenditure Statement/ Trading Profit & Loss Account and Balance Sheet
  • Up-to-date management accounts and cashflow statements to reflect the current trading period
  • Up-to-date aged list of debtors/ creditors
  • Financial and cashflow projections and underlying assumptions (including any evidence of agreed orders/ contracts).

This information enables us to gain a real insight into how your company:

  • has performed in the past,
  • is performing currently,
  • is likely to perform in the future.

Short-term cashflow projections are of particular importance
2. Details of current tax position (provided by accountant) This will allow us to understand your current tax situation and any arrangements that may be in place with HMRC
3. Up-to-date Asset/Liability profile of the business and owners/promoters This allows us to assess the overall financial position of the company and its business owners/promoters.
4. If required, details of your security position  You may have provided security across a number of facilities which is relevant to the assessment of your situation.
5. Other information may be required as relevant to an individual case We will advise you of further information or clarifications we may require to ensure we fully understand your particular financial circumstances.