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Accounts for compliance
We have extensive experience of preparing accounts for many types of business including manufacturing, hospitality, agriculture, retail, care homes and many more. Whichever structure you trade through we go through the accounts with you to explain what the figures mean as they record the financial performance of your businesses.
Limited Company Accounts
As a director you have a responsibility to prepare final accounts for shareholders, banks and finance providers. The full accounts must be sent with the corporation tax return to HM Revenue & Customs within twelve months of the end of the accounting period. They also need to go to Companies House within nine months of the end of the accounting period although for small companies we use a shortened set of accounts for this purpose to put as little of your financial information in the public domain as possible.
Limited Liability Partnerships (LLPS)
LLPs are legal structures for businesses, which sit somewhere between traditional partnerships and limited companies, having features of both.
Sole Trader and Partnerships
People in business not trading through a limited company or an LLP are either a sole trader or a partnership. We prepare accounts to fill out your annual Self-Assessment Tax Return which has to be filed online by 31st January following the end of the tax year.
We can also prepare management accounts on a regular basis to provide ongoing updates on financial performance.
It can be useful to know what profits are available to be paid out as dividends. The figures can be a useful way of highlighting strengths and weaknesses in financial performance at an early stage and can also help you gauge what tax might be due at the end of the year.