Small and Medium Businesses Accounts Preparation
When owning your own business it is vital that you have end of year accounts that are correct and in order. This is so you can make clear analysis of the incomes and outgoings throughout the year and make a factual number of either profit or break even. This can become complicated whether your business is small or large so it is important to work with professionals who knows what to do.
HOW TO PREPARE COMPANY ACCOUNTS
Preparing company accounts involves a lot of different stages and much follow specific requirements and guidelines. This includes dealing with HMRC to ensure you cover all the legal requirements for company accounts. There are also a lot of factors you need to record, and there is a lot of planning involved.
Don't worry if you are struggling, because we professional accounts are available to help. We can advise and help you through the process of preparing your company accounts to take away any added stress, and also better your time management. For more information, please give us a call today.
The legal requirements for end of year accounts involve submitting your company accounts to HMRC, and you must also take into account your tax return. This is so that HMRC can double-check all the information and ensure everything is correct. You must also deal with Companies House and file the statutory accounts with all the necessary information and records.
These must be done within a specific time limit, but if you need to find out more, please don't hesitate to get in touch with a professional. They have all the knowledge and experience to give you expert advice when it comes to your company accounting needs.
These are mostly statements of your finances, along with information and records written by the directors of the company. These records are there to state how the business itself has performed during the year, and how it can improve. You will also need a balance sheet which details the expenses and incomes of the business and the loss of profits.
You will also need to explain the loss of profits, and also state the liabilities and assets of the company. This could differ depending on whether you can classify as a small company, but if you are unsure, you can always get in touch with a professional accountant, and they'll be happy to help.
Do you need help planning your annual accounts? Then don't worry, because we are here to help. We have all the necessary experience and knowledge required to help you plan, and also to advise you to take the stress and give you more time to focus on other factors of your business.
Getting help from a qualified accountant ensures all factors of the annual accounts are met, and all the legal requirements are handled. They can also advise you on more effective ways to handle your finances and improve the overall performance of your business.
There are a number of records that you must keep hold of, as a legal requirement. This may differ depending on whether you can class yourself as a small company. Here are the main records that you must keep hold of; however, you can always get in touch with a professional if you are unsure.
- Income and Expenses Records
- Company Liabilities
- Fixed Assets
- Unsold Stock
- Work that is Incomplete
- Your Employee's Payroll Information
PROFESSIONAL & RELIABLE EVERY TIME
Our team of highly skilled accountants here at Penny & Pounds have years of experience with preparing accounts for a whole array of businesses.
The reason we have such an enviable reputation is due to our hard efforts to make all of our customers fully satisfied with our services and the prices they pay for them.
Each service we provide is specifically tailored to meet your requirements as we recognise that each business has different needs.
We offer Accounts Preparation for Small and Medium Businesses in Redcar, Middlesbrough And North Yorkshire. When owning your own business it is vital that you have end of year accounts that are correct and in order.
This can become complicated whether your business is small or large. We can help. Call 07855 326 609 today.