statutory accounts

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Running a business brings with it many challenges and concerns, and the production of statutory accounts (also called annual accounts) is no exception. If you want to make sure you do not miss anything and that your reports are accurate and provided on time, then you should consider our Nottingham annual accounts services. Not only do we give you an accurate picture of your business, but we also have a unique diary system which helps us prepare and send information on time.

What are statutory accounts?

Almost all registered companies in the UK have to prepare statutory accounts for HMRC and Companies House every year. Their purpose is to report the financial activity of the company. They are also used to determine the amount of tax due. There are different deadlines for your tax return to HMRC and for sending your accounts to Companies House. To ensure you do not miss the deadline and to submit accurate accounts, it’s always better to search for professional help.

Based in Nottingham, our company has many years of experience in providing tailored year-end accounts. No matter how large the project is, we always give our customers a first-class service. We work closely with our clients to ensure that we meet their needs. Annual accounts must be accurate for the following reasons:

  • They give you a clear picture of your business and its progress;
  • They help ensure your tax returns are completed to the required standards and timescales;
  • Any tax bill not paid punctually will increase over time.

Accounting Solutions Annual Accounts Services

We offer a full range of accounts services for Sole Traders, Partnerships, and Limited Companies. Our services consist of:

  • Preparation of year-end accounts for companies and partnerships;
  • Preparation of annual reports for sole traders;
  • Review and analysis of management accounts.

As you can see, we cover many services, and we work hard to be accurate with the accounts we produce. There are a number of advantages to be gained by using the services of our accountants in Nottingham:

  • We can help you improve the accuracy of accounting records;
  • We always outline the opportunities that can help your business to grow;
  • We offer advice on accounting software;
  • We provide detailed financial information;
  • We assist with bank presentations.

give us a call today to discuss our annual accounts services

How does our Nottingham annual accounts service work?

First, we invite you for a no-obligation consultation to discuss your requirements. Then, we will help you decide on the service that fits your requirements and budget. We will work closely with you to ensure we have all the necessary information to complete the job correctly. It is essential that you send us all the relevant details as soon as possible so that we can prepare the paperwork and leave you enough time to pay your taxes punctually.

FAQs

statutory accounts are a report of a company’s financial details. They are usually done as a profit and loss account and a balance sheet.

Annual accounts must be produced and filed every year.

Your ARD is the date on which your company’s accounting reference period finishes. Your ARD is calculated by the month end after one year of incorporation.

E.g. 

Company incorporated 15th January 2019

Accounting Reference Date: 31st January 2020 (and 31st January for all subsequent years)

A company’s first accounts start on the date of incorporation and finish on the ARD. All subsequent accounts start a day after the previous accounts and finish on the ARD.

Annual accounts must typically include:

  • A profit and loss account
  • A balance sheet which has been signed by a director
  • Notes for the accounts
  • Group accounts if applicable

 

Accounts should usually be submitted alongside:

  • An auditors’ report
  • A directors’ report

The late fees from Companies House range from £150 to £1,500 and are determined by the length of the delay.

Choose us for help with your statutory accounts

Accounting Solutions is fast becoming one of the most efficient and reliable accounting companies in Nottingham. Our expert accountants have all the experience necessary to exceed your requirements. We are well-known for our zero-jargon and specialist advice and allow fixed-fee and flexible payments. Excellent client relationships are an essential part of our business, so we build special, personal relationships with each and every client we work with. So, get in touch to try out our annual accounts services or one of our many other offerings today.

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