Limited Company Annual Accounts
Our team can help your limited company prepare and produce their annual accounts to submit to Companies House and HMRC ensuring your corporation tax liability is reduced where possible and tax saving opportunities are addressed.
With over 35 years of establishment, our practice has helped a number of limited companies plan for their future and maximise their tax efficiency. Ensuring that their company accounts are filed on time to avoid fines for late submission and inaccuracy.
Benefits Of Our Annual Accounts Service
What’s included in statutory accounts?
Once you have produced your annual accounts you will need to send a copy to each shareholder in addition to submitting certain documents to Companies House and HMRC. You will also need to send a copy to anyone who generally attends company meetings.
Annual accounts; also known as company accounts or financial accounts, are an extensive document that includes various reports of the company’s financial activity throughout the financial year in question. They need to be submitted to HMRC and Companies House each year, up to 9 months after your limited company’s year-end.
Annual accounts show various reports such as a balance sheet, profit & loss report, and notes relating to the financial year. These reports generally consist of information regarding the sales, purchases, running costs and profit or loss of the business.
The financial statements included in annual accounts are important because they can show valuable information about a company and can then be used to improve the profitability and growth of the business. They are also an important set of documents to produce as they meet the compliance and regulatory obligations of a limited company.
You will need a variety of information for your year-end accounts, including the sales, purchases, and running costs of your limited company. If you have an accountant, these will generally be summarised throughout the year in a process known as bookkeeping. This may be obligatory for your business if you are VAT registered; as you will need to produce periodic VAT returns.
There is no legal obligation or set of rules that prohibits you from producing your own company accounts. However, they are likely to be far less efficient outside the hands of an expert accountant, which will likely result in a higher tax liability at the end of the financial year.
Our years of experience and highly trained team will ensure that you receive excellent services from us and all returns are taken care of in a highly effective manner. We will process your returns on time, every time and guarantee that your records are kept safe and in order on our secure system.