Annual Accounts

All businesses need to prepare annual accounts, unincorporated businesses will need to prepare annual accounts to help in the preparation of Personal or Partnership Tax Returns, and limited companies will need to prepare accounts which have their own requirements and deadlines, we have a separate section for Limited Company Accounts.

We prepare financial statements for sole traders, partnerships, limited liability partnerships, limited companies, charities and other business institutions and calculate their tax liabilities based on these accounts.

Accounts are prepared to agreed timescales and deadlines, plus we will give an idea of how much it will cost to produce your accounts in advance based on your circumstances.

Annual accounts are normally used for;

• To help in completion of self-assessment tax returns;
• Produce financial statements for filing at Companies House.

For most owner managed limited companies abbreviated accounts can be filed to ensure the minimum amount of your financial information is made public.

Your bank or other providers of finance may use your accounts before making any decisions.

We are proactive so we do more than just report the history of what has already happened.  We take the time to explain your accounts to you so that you understand what is going on financially within your business, helping you to plan for the future.  We will also;

• Identify areas where we can assist in minimising your tax liability;
• Identify areas of the business that give you the most opportunity to make improvements;
• Use the accounts to help you measure where you are in meeting your goals and what actions you need to take.
• To advise if your business structure is still appropriate now or for the coming year.
• To set goals for the coming year.

It is important to recognise that for all businesses are required to keep accurate accounting books and records to record the transactions, in order that accurate year end information is available to prepare.  If you feel that you need help please take a look at bookkeeping service section.