One of the most crucial periods of the year is when your company prepares and submits its annual accounts; therefore, it’s vital to do it correctly.
JJO Accountancy knows that creating your company’s accounts can be challenging. Our accounts preparation service aims to take charge of the entire procedure on your behalf, relieving you of the stress and assuring that our skilled account specialists will produce accounts to exacting standards, complying with all legal obligations.
Statutory accounts are a crucial part of managing your company so that your shareholders can see how it is doing and they can maintain your Company House documents up to date.
Statutory accounts are required to have a cover, contents, and business information page in addition to a profit and loss account, notes to the accounts, balance sheet, cash flow statement, and a directors’ report.
Most businesses rely on an accountant to ensure that their documentation is in order and that they are only paying the correct amount of tax. In fact, most landlords and mortgage lenders demand that accountants complete statutory accounts.
All limited corporations in the UK must complete statutory accounts yearly. These are supplied to all shareholders or made available to anybody with the right to attend general meetings and also reported to HMRC and Companies House.
Several financial reports and business papers must be included in the compilation of statutory accounts. These aid in identifying the factors influencing the commercial and financial success of the organisation during the previous 12 months.
The complexity and size of your firm will determine the degree of detail needed in your year-end accounts. However, it is the duty of every business owner, small and large, to prepare financial accounts and submit them to the relevant stakeholders.
The business’s financial performance throughout the accounting period and its financial situation at the end of that period are both shown in the annual financial accounts. In any situation, it’s critical to have them correctly prepared to reduce tax consequences and provide you with a clear picture of how your firm is doing.
In our opinion, an accountant should not review your accounts or offer guidance only once a year.
Keeping up with our clients’ companies and developing strong ties with them will help us prepare their accounts more effectively. We prepare accounts and offer tax preparation services using your firm’s financial data.
The directors are then asked to approve their submission to Companies House and HMRC. Additionally, we will give you explicit instructions on how to pay your corporate tax obligation.
We’ll work with you to answer any queries HMRC may have regarding a set of accounts we’ve produced and settle any disagreements amicably.
Accounts preparation cost varies depending on the following factors:
In order to prepare statutory accounts, financial records must be used to create the proper paperwork, which must then be submitted to HMRC at the end of the fiscal year. This procedure often entails the creation of a director’s report, a balance sheet, a profit and loss account, and notes on the accounts.
Many businesses need statutory accounts to make sure their documentation is in order, and they are paying the correct amount of tax. In addition, statutory accounting is frequently demanded by landlords and mortgage lenders.
The account preparation cost depends on many factors, including your business size and other requirements. Contact us for more details on our account preparation service.