Accounts Preparation

Preparing financial accounts is a critical aspect of business compliance and management. Our team specializes in preparing comprehensive financial statements, including profit and loss accounts, balance sheets, and cash flow statements. Whether you’re a sole trader, partnership, or limited company, we ensure that your accounts are prepared in accordance with relevant accounting standards and regulations.

Statutory Accounts

Your company’s annual accounts – also known as ‘statutory accounts’ – must be prepared by the end of your company’s financial year and copies sent to:

• All shareholders
• people who can go to the company’s general meetings
• Companies House
• HM Revenue and Customs as part of your annual business tax return.

Your business’s statutory accounts must include:

• A profit and loss account that shows the company’s sales, running costs and the profit or loss it has made over the financial year.
• A balance sheet that clearly identifies the value of all everything you company owns, owes or is owed on the last day of the financial year.
• notes about the accounts.
• A director’s report.

And in some cases, depending on the size of your business, an auditors’ report.

These records must be completed within a strict set of criteria set out in either International Financial Reporting Standards or UK Generally Accepted Accounting Practice, depending on the nature of your business.

Prepared in the right way, they provide a vital tool to help your business run smoothly and provide valuable information for forward planning and decision-making.

The year end accounts are there to show a true and fair view of your company’s accounts, which is why they are extremely important to get right. Get your annual accounts filed correctly.