Annual Accounts

Annual Accounts
Annual Accounts Meeting

Do you need help in preparing your annual accounts?

Our team of accountants at The Financior Accountancy Services has vast experience in aiding and supporting personal and professional accounts preparation. Because of its importance, we understand that the accounts preparation process can be daunting and stressful. We have endless experience in preparing accounts for review at HMRC, so you can relax knowing that your year-end accounts are in the safest hands!

What is Annual Accounts Preparation?

A company’s annual accounts are called the “statutory accounts,” and are based on the company’s financial records at the end of their financial year. The purpose of preparing annual accounts is to present HMRC with a report of the financial activity the company has undertaken in the last 12 months. A company is also required to file annual accounts with Companies House annually.

What does Annual Accounts include?

It is essential that you prepare your annual accounts correctly, containing the right documentation and information. This report can be given to shareholders, other important figures involved in the company, and HMRC. Annual accounts must include:

  • A balance sheet – this indicates the value of everything your company owns and must have the signature and name of the company’s director on it.
  • An account of your profits and losses over the year – including sales, costs of business operations, and overall profits and losses.
  • Any notes regarding the accounts.
  • A director’s report.
  • A report from the accountants, if external accountants were involved.

Why are Annual Accounts Important?

Annual accounts indicate to HMRC the financial condition of your business, and businesses must submit them to Companies House. Publishing these details online allows for public viewing. Accurate accounts ensure the company is presented in the best light possible, and errors can be identified with professional help from Financior Accountancy Services.

Who can Complete Annual Accounts Preparation?

The initial process of combining information should be done within the company. However, it’s highly beneficial to have an accountant review the information. Professional input ensures valid and accurate information is presented to HMRC and Companies House. Make sure your annual accounts are prepared in the best way possible with help from Financior Accountancy Services.

Next Step: Please contact us if you need further advice, have any questions about our services, would like a free consultation or a fixed fee quote.