Annual Accounts

Whether you’re a sole trader, a partnership, or a small business, our team of accountants can assist your business in managing your financial accounting. We aim to help you maintain compliant and accurate accounts and up-to-date statutory books and records.

For sole traders and partners, we gather all your financial records, including income statements, expense receipts, and bank statements. We use this information to create the following:

• a profit and loss account to show the business's income and expenses over the year
• a balance sheet to provide a clear picture of the business's financial position.
• calculation of your tax liability based on the profit calculation
• allocating the profit or loss among the partners according to the partnership agreement
• preparation of a self-assessment tax return, a partnership tax return and
• reporting each partner’s share on their tax returns

For limited companies we prepare a full set of statutory accounts that includes:

• a profit and loss account
• a balance sheet
• a cash flow statement
• notes to the accounts
• a corporation tax return

Also, we prepare the directors' report and file the accounts with Companies House and HMRC. Also, we can arrange for the accounts to be audited by an independent auditor before submission.