The preparation of annual accounts is essential for the owners of a business to be fully aware of their trading position and fulfill their statutory obligations. Directors of limited companies have a statutory responsibility to prepare annual accounts in accordance with Company law and recognised accounting standards.
The filing deadline regarding the first set of accounts for a limited company is 21 months following the date of incorporation, thereafter 9 months after the end of the accounting period. The deadline for paying any corporation tax is 9 months following the company’s accounting period.
Our annual accounts service for Limited Companies includes:
Preparation of limited company accounts using information provided from the books and records of the company; Usage of the most up to date accountancy software; Liasing with company directors to ensure that statutory deadlines are met.
Sole Traders and Partnerships Our annual accounts service for Sole Traders and Partnerships includes:
Preparation of accounts which form the basis of sole proprietor's or partners' income tax returns.
Our management accounts service includes the preparation of management accounts on a monthly, quarterly or half-yearly basis depending upon your specific requirements.
The advantages of using management accounts include:
Up to date information is available thus facilitating management decisions, which may otherwise be delayed until the preparation of the annual accounts; Certain catergories of expenses can be expressed using accounting ratios; Facilitates comparisons to budgets and forecasts; Improves overall control of the company's financial position; Ensures that your company does not pay unlawful dividends.