Bookkeeping and organisation of accounts can be quite a challenging task that takes a lot of time and effort. We are able to offer reliable accounting services in West Sussex that all of our clients can depend on and that will help to ease the problems that you face related to your business finances. In particular, we can provide help and advice in regards to preparing your annual accounts.
Also known as statutory accounts, your annual accounts are prepared from your financial records to be delivered at the end of the financial year. These accounts need to be delivered to any shareholders and those who attend general meetings in your company, as well as HMRC and possibly Companies House. Statutory accounts need to contain various details, including a balance sheet, a profit and loss account and a director's report. Alternatively, smaller companies (those with a turnover of £6.5 million or less, with less than 50 employees and £3.26 million or less on its balance sheet) can send abbreviated accounts to Companies House, which consist of a balance sheet from the statutory accounts along with notes. The accounts prepared must meet either International Financial Reporting Standards, or the standards outlined in UK Generally Accepted Accounting Practice.
Preparing your statutory accounts can be a challenge. There is a large amount of information that needs to be gathered and compiled accurately in order to prevent legal ramifications. The differences between how statutory accounts are prepared, depending on the status of your company, can also further compound confusion when preparing your accounts. From small companies to micro-entities, there are a slew of requirements, and they can be difficult to keep track of. This is why we offer an annual accounts service to aid our customers.
With over two decades of experience, our team will help to guide you through the process of creating audited accounts. We can simply advise you, or we can step in and provide practical support throughout. We will ensure that you've claimed for all allowances that you're entitled to, and will also ensure that you are operating as efficiently as possible with your taxes, helping to save you money. With a certified accountancy company verifying everything that we do, you can be further assured that we'll ensure you operate within corporate tax laws. Contact us today to find out how we can help you with our accounting services in West Sussex.