Statutory accounts service tailored to your business needs
Statutory accounts are an important part of running your business, as they not only tell you how your business is performing but are required by Companies House to keep your records up-to-date. But do you really want the worry of pulling all the right information together, interpreting the data and then making sure everything is submitted on time and in the right format?
Working with a range of clients including limited companies, sole traders, partnerships and LLPs, we can provide everything from the most basic form of profit and loss account and balance sheet to highly tailored management accounts and financial projections which provide valuable information on the health of your business.
We are based in Chesham however no area is off limits as we operate paperless and use the latest technology so have clients all over the UK.
Hassle-free statutory accounts service
The size of your business and turnover dictates how much information you need to submit in your annual accounts, so our first job will be to establish which category you fit into. Most companies will be classed as small businesses by HMRC, so must include:
- A balance sheet
- Profit and loss account
- Cashflow statement
- Directors’ report
All accounts need to be prepared, approved and filed with the relevant body within 9 months of the end of the financial year, otherwise your business will be liable for late filing penalties. It is possible to dispute these penalties, however there is not much of a success rate, but as a trusted accountant we are more than happy to assist you in any dispute.
We can prepare your accounts either using your own programmes and bookkeeping records or are happy to start everything from scratch. Either way, you’ll always receive a draft set of accounts for approval before submission.
And for your peace of mind, we work in accordance with regulations and financial reporting standards, so you can be confident everything we do is 100% compliant.
Helping improve your company’s profitability
While submitting statutory accounts is a legal requirement, they are also a great way of understanding the financial health of your business. They can:
- Provide financial forecasts to support business growth
- Identify areas of efficiency and inefficiency
- Give you the heads up, if there is trouble ahead.
- Prepare management accounts for day-to-date and strategic decision making.
Over the years, we’ve helped businesses of all sizes understand their company accounts with the result they have identified areas for growth and exploited competitive advantages.
If you’re interested in understanding more about what all the numbers really mean or want more information on our statutory accounts service, give us a call today.