Limited Company Accounts

Statutory accounts, also known as annual accounts, are financial reports that a limited company is legally required to prepare at the end of each financial year. These accounts give a summary of the company's financial activity over the year and are used by shareholders, HM Revenue & Customs (HMRC), and Companies House.

Filing Requirements:

Small companies (meeting at least two of the following criteria: turnover of £10.2 million or less, balance sheet total of £5.1 million or less, 50 employees or fewer) can file simpler, abbreviated accounts.
Micro-entities (turnover of £632,000 or less, £316,000 or less on the balance sheet, and 10 employees or fewer) have even more simplified reporting options.
Large companies must prepare full statutory accounts.

Filing Deadlines:

For Companies House: The accounts must be filed within 9 months of the company’s financial year-end.
For HMRC: They must be submitted with the company’s Corporation Tax Return, within 12 months of the financial year-end.
Failure to file statutory accounts on time can result in penalties.

Management Accounts :

Management accounts for a limited company are financial reports produced periodically (usually monthly or quarterly) to provide detailed insights into the company’s financial performance and position. Unlike statutory accounts, which are prepared annually and must comply with legal requirements, management accounts are for internal use and can be tailored to meet the needs of the company’s management team.

Why choose our company accounting service?

Whether you are new to business or an experienced entrepreneur we can assist and advise you from start to finish:
• Company set up: We can assist you with the incorporation and registration of your company, ensuring all legal documentation is complete and correct.
• Register with HMRC: We will register you and your business with HMRC.
• Efficient accounts preparation: Preparation of company accounts to meet financial standards and regulations in the UK.
• Company tax return: Preparation of company tax return and calculation of your business’ corporation tax liability.
• Company secretarial: Ensuring your company details are correct with Companies House and making sure completion statements, notification of persons with significant control are submitted.
• Meet deadlines: We will ensure that you meet all your company deadlines with HMRC and Companies House.
• Tax planning: Tailored tax planning opportunities and tax advice for you and your business.