Annual and statutory accounts
If you’re a limited company director with high standards, who wants things done right, talk to us about support with preparing your accounts.
As a director, it’s your responsibility to make sure shareholders, lenders and investors have access to up-to-date, accurate accounting information. It’s about building trust, giving people confidence and driving efficient decision-making.
Your annual accounts should include a readout on profit-and-loss in the accounting period – basically, how your business is performing. They should also include clear information on its assets and liabilities, in the form of a balance sheet. It takes real attention to detail and obsessive double-checking to get these perfect but it’s worth it to win the trust of your stakeholders. And it can help you feel more on top of things, too, so you’re free to focus on more interesting stuff.
Statutory accounts are something slightly different. They’re how you report on your company’s performance to the authorities and are a key part of the principles of transparency that govern business in the UK. You have to provide a final set of accounts to Companies House within nine months and a day of completing your accounting period. You’ve also got to send a copy of those accounts to HMRC along with your corporation tax return.
How we prepare your accounts
We’ll work with you throughout the year to make sure your accounts are in good shape and on track. Then, when the time comes to prepare final accounts, it’s about pulling everything together, checking, checking again and making sure the finished product is spot on.
We’ll manage the final submission to HMRC and Companies House, including fielding any follow-up queries. Then we’ll let you know how much corporation tax you need to pay, or deal with as part of your business tax return.
In fact, all this works best as part of a full service where we handle your company’s bookkeeping and management accounts, too – but we’re flexible.
Because we’re a modern, forward-thinking accounting firm, we built technology into our processes from day one. In practice, that means using the amazing power of cloud accounting software such as QuickBooks and Xero to keep accurate records in real-time throughout the year.
Worried about your accounts?
Sometimes, people come to us because they’re worried about the state of their accounts and want to get them sorted. Maybe a previous accountant let them down, or perhaps they tried to manage it themselves and got overwhelmed.
Either way, we don’t judge – we just want people to feel in control and take that weight off their minds.
If your accounts are in a bit of a state and need some urgent attention, get in touch now and we’ll see what we can do.
Our accounts prep service includes:
- Annual accounts
- Statutory accounts
- Handling of HMRC disputes
- Accounts review and improvement
- Cloud accounting integration.
Construction Industry Scheme (CIS)
If you’ re involved in the CIS, find out how we can help, whether you are a contractor, administering the scheme, or a subcontractor with deductions being made from your pay.
Ready to start the journey?
To get help with your accounts and start freeing up your time to focus on growth, talk to the Mayflower team today.