How much does it cost?

Fees are typically 0.75% to 1.5% of turnover, depending on the services you need and how many units you run. A like-for-like internal finance team costs roughly 4% to 7% of turnover, so you get the same capability for a fraction of the cost — with no recruitment, no sickness cover and no payroll admin. We confirm a fixed monthly fee after a free introductory meeting, so you know exactly what you are paying before you commit.

Do you work with single sites or only groups?

Both. We typically work with hospitality and retail businesses from one to five sites. The common thread is not size — it is that the owner is ready for proper financial reporting and wants a finance partner rather than someone who files the tax return.

How is a fractional CFO different from an accountant?

An accountant tells you what happened. A fractional CFO helps you decide what to do next. Ours sits on top of the virtual finance department for board meetings, funding rounds, lender conversations, growth decisions and financial models. A full-time CFO costs £150k+ before you start; this gives you the same experience only when you need it.

Yes, tronc schemes and payroll are handled as standard. Tronc distributes tips to staff in a National Insurance efficient way, and the rules changed in 2024: tips must be allocated fairly, with new requirements on how they are handled and taxed. Getting it wrong has a real cost.

Which software do you work with?

We are a Xero Silver Partner and a Xero Retail & Ecommerce specialist, and we work with Dext and ApprovalMax alongside it. We connect to your rota and EPOS systems so information flows automatically rather than being retyped.

Do we have to switch to Xero?

It is our recommendation and where we work fastest, but it is a conversation, not a condition. Tell us what you run now at the introductory meeting and we will be honest about whether moving is worth the disruption.

How quickly can you onboard us?

Most clients are fully live within two to three weeks of signing. Onboarding covers connecting your bank feeds, EPOS and rota systems, agreeing the reporting pack and introducing your named team.

Can you take over mid-year?

Yes. Mid-year is a perfectly normal time to switch. We handle the handover with your outgoing accountant, pick up the year to date and carry on — you do not need to wait for your year end.

What if we are behind on our bookkeeping?

That is one of the most common reasons people call us, and it is not a problem. We will scope the catch-up separately, tell you what it costs up front, and get you current before we start the monthly cycle.

Do you do payroll for hourly staff?

Yes — weekly or monthly, for hourly and salaried staff, including auto-enrolment pensions and tronc. We link to your rota system so hours flow through rather than being re-keyed.

Do you help with funding and landlords?

Yes. We have raised finance from banks and institutions many times, and we help with grant applications, insurance claims, emergency loans, landlord negotiations and HMRC Time To Pay arrangements.

Yes. A UK team, based in Hungerford, working with clients across the UK and heavily in London. You deal with the same named people every time: an Accounts Assistant, an Account Manager and a Director.

What Hawksmoor's profit increase really shows

Oct 8

2 min read

You may have seen headllines recently about Hawksmoor's reported operating profit rising from £1.445m to £5.385m in 2025. It's a whopping a £3.940m increase, and it is great to see a hospitality business do well - but I think the headline hides some important lessons. We get a bit more information out of the numbers once we consider the impact of one off costs in this year and last year - essentially when we compare underlying profit. On that basis, underlying profit rose from £5.252m to £6.886m, up 31.1%, while turnover increased 9.4%.

WHAT ACCOUNTS ARE WE READING?

These are the audited group accounts of Underdog Group Limited for the year ended 31 December 2025. at the time of signing the accounts, the group had 11 UK, 3 US and 1 Irish restaurants, compared with 10 UK, 2 US and 1 Irish in 2024. HOW DID PERFORMANCE COMPARE YEAR ON YEAR Turnover rose to £109.813m from £100.385m, up 9.4%.

Cost of sales was £57.691m in 2025, which was 52.5% of turnover. In 2024 it was £55.285m, or 55.1% of turnover. COGS improved by 2.6 percentage points. We don't actually know what goes into COGS when it comes to stat accounts, but we assume most of this is on food and beverage purchasings.

WHAT HAPPENED TO ADMIN COSTS?

Administrative expenses rose from £43.655m to £46.737m. As a percentage of turnover, they fell from 43.5% to 42.6% - as many overheads are fixed, as sales grow, this percentage will look better WHAT HAPPENED TO LABOUR? Labour is included in the above numbers somehwere (statutory accounts are frustrating is you don't quite know where things are posted), but we can see sit labour before employment costs seems to be around 29% each year. WHY DOES THIS SHOW YOU?

A 9.4% increase in turnover produced a 31.1% increase in like-for-like profit, because the extra sales came through at a better margin. More turnover, with margins held tight, gives an outsized gain in profit. And in general, more turnover in hospitality will always result in an outsized gain (your business rates do not cost more because you have sold more for instance, or you don't need an extra waiter to add an additional side dish to an order).

The reverse is also true, so the margins have to be watched every month. Keep an eye on:

COGS as a percentage of sales, by site and for the group.
Gross profit margin, including the reason for each material movement.
Admin costs as a percentage of turnover.

In the notes to the Hawksmoors accounts, it says the group monitors gross and net margins, labour efficiency, customer demand and feedback, and supplier price changes. These are the same disciplines that venues are following up and down the country, because they have an impact.

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