Every business is required to prepare financial statements of some description. Whether a limited company, partnership or sole trader, annual accounts are required for Companies House and / or tax filing requirements.
Based on your records, we can prepare the appropriate accounts as required by company law or HM Revenue and Customs.
Statutory company accounts are a matter of public record used for the following key purposes (and we keep this in mind at all times when preparing them):
They will be reviewed by potential clients, or credit rating agencies, to rate your credit worthiness. They will be the subject of review in the event of any major corporate transaction, such as a fundraise or sale.
For the vast majority of small companies (and particularly owner managed businesses), the year end accounts process provides very little internal commercial value; it is an obligation to be met and a means to working out the corporation tax bill.
Recognising that, we make the process as pain-free as it can be whilst ensuring that, where there is a strategically or financially important decision to be made regarding the accounts, you have all the facts and a clear recommendation as to the best course of action.
The appropriate combination of precision and commerciality is the key to making the year end accounts process as efficient and painless as possible
Privacy and confidentiality is always important to owner managers; we ensure that you disclose the minimum amount of information in the public arena.
It is our view that if you are relying on the year end accounts to understand the financial performance of your business (especially if you are taking the full nine-month Companies House permitted period to prepare them) then you are limiting the potential for your business to grow and become more valuable. An efficient monthly management accounts process is recommended to provide up to date and insightful internal information. Check out our management accounts page for our view of best practice.