Statutory financial statements

Helping you make the right choices

Companies House require all Limited Companies to file their Financial Statements within nine months of the year end. Different rules apply for newly incorporated companies.

We have clients with turnover ranging from tens of thousands to tens of millions of pounds. Some of them have accounting records in modest manual systems, others have more complex integrated computer systems.

Whatever your approach to keeping your records we have the experience and expertise to handle it.

Understanding your business and the environment in which you operate

The key to preparing year end Financial Statements is to understand your business, your needs and the purpose of the Financial Statements.  The Accounting Standards allow some choices that could significantly affect your business credit rating and the view of suppliers customers and banks.  We will work with you to understand your business so that the Financial Statements accurately reflect your position.  We will also discuss the stakeholders of your business such as banks, suppliers and customers.  From these discussions we will help you to understand the choices allowed by Accounting Standards such as whether to present any property at original cost or to revalue to current market value.

Companies House

Financial Statements must be in a format dictated by the Companies Act. Companies generally assume that their Accountants are capable of this compliance function although there are some areas that we can add value. Abbreviated Accounts are allowed to be filed for some companies and this is usually appropriate depending on the environment in which you work and the results for that year.

Our processes and the application to accounting records

Any deficiencies in accounting systems could mean that HMRC could impose additional taxes without you having the ability to disprove such claims. We pride ourselves in the very best people and the very best systems and controls.  Our experience allows us to point out any potential deficiencies in your accounting records during the preparation of your Financial Statements.  We will also have the experience to suggest a cost effective solution to any such deficiencies during this process.