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Financial Management.

Breaking the Mould Yachting’s range of Financial Management services include:

  • Annual Budget preparation for Owner approval
  • Annual budget review against expenditure
  • Weekly, monthly and annual reporting 
  • Control of Purchase Order System
  • Invoice verification and arranging payments
  • Manage multiple currency bank accounts
  • Foreign Exchange Management
  • Credit & Debit cards
  • Petty cash supply for the yacht
  • Submit fund requests to the owner 
  • Bookkeeping and automated data extraction;
  • VAT registration
  • VAT reporting and  review documents
  • Provide accounting records that comply with each jurisdiction’s record-keeping requirements.
  • Manage relationships with fiscal agents. 
  • Managing cash flow.
  • Periodic Funding requests to Owner. 
Our mission is to completely take the time and stress off your hands

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How we can help you

We are a Xero partner firm who specialise in providing an outsourced finance director and cloud accounting services to the Maritime industry.

In short, we implement and migrate your current accounts into cloud accounting technology. Along the way we will streamline your financial processes and ensure one source of truth for the yacht’s financial data.

This is important for you for two reasons:

We can use our specialist knowledge of the industry to ensure that your yacht and maritime business has robust fiscal due diligence, and;

We can ensure that the accounting is done correctly and that the data is readily available to you and is reviewed in real-time.

There’s power in having real-time data as this then allows you to:

  • Mitigate the risks of owning or operating a luxury yacht or avoiding them altogether,
  • Understand and be in control of the budget process,
  • Manage cash requirements and fiscal obligations,
  • Enjoy the smooth and safe operation of your yacht or maritime business without any financial distractions so that you can deliver an exceptional service.

Breaking the Mould Accounting Limited is there to act as your virtual finance department as and when you need us. We can provide a Chief Financial Officer (CFO), management accountant, bookkeeper and payroll support if you require it. We can act for the manager or owner on a single yacht or fleet or assist with project management (refits and builds) and costing.

Whatever you need, we can help ease the financial burden and give you the right advice about the assets you have on board. If you’ll let us, we’d love to show you how the world of cloud accounting can make your life so much easier.

About Alasdair Milroy

Virtual CFO and Chartered Accountant for Yacht Owners, Managers and Captains

As a Chartered Accountant, Alasdair Milroy has spent many years working closely with individuals and businesses helping them with all things financial. Up to this very day, he is a member of the Institute in Australia New Zealand, the Institute of Chartered Accountants in England and Wales, and STEP. You could say he is a truly global accountant.

In addition to this, he has also worked in financial services within the UK and Guernsey for over 20 years gaining valuable industry experience at board level; his most recent position being Chief Executive Officer focused on the Superyacht services both in Guernsey and Malta.

As well as having a strong financial background, Alasdair also has a longstanding love of the industry. His father was a merchant seaman and Captain in the Royal Fleet Auxiliary (RFA); Alasdair was christened on the Sir Tristram RFA, and he spent many years of his childhood visiting ferries, container ships and bulk carriers.

Alasdair’s life has always had a connection to merchant mariners and the challenges of life at sea, so when he combined this with his training as a Chartered Accountant and his industry experience in financial services, it’s no real surprise that he went on to launch his own accounting practice. One that he could provide a more specialist and personal service.

Introducing Breaking the Mould Accounting Limited. Providing modern digital accounting services focused on using a technology stack based around Xero or other Cloud Accounting software, the firm primarily works in the maritime sector with yacht management, captains, owners, and family offices.

As a Superyacht Accountant and with his own firm, Alasdair has developed a high level of trust amongst clients and industry professionals within the maritime industry.