Why are Annual Accounts Important?
An annual account report indicates to HMRC as to what the financial condition of your business is and businesses have to submit their annual accounts to Companies House. Publishing the details of a businesses’ finances online allows for public view. Potential investors, clients etc., have the opportunity to view the financial information of the business at any time, as they please. Therefore it is vital that your accounts are accurately and appropriately declared, this will present the company is the best light possible. Because of this a fresh perspective on the matter can be appreciated. An accountant from Shields Associates will be able to identify any errors within the report, offer new advice and have a great amount of experience in helping businesses when submitting accounts to HMRC.
At Shields Associates, our annual accounts services typically include the following:
- Preparation of statutory annual accounts (and consolidated accounts for groups of companies), including all the required disclosures – for both incorporated and unincorporated businesses which comply with the Companies Act and HMRC’s requirements.
- Preparation of financial accounts for partnerships, LLPs and smaller businesses.
- Maintaining accurate and comprehensive nominal, sales and purchase ledgers.
- Reconciling your bank position.
- Preparing business and personal tax returns and VAT returns.
- Providing you with business reports e.g. profitability and business & financial performance analysis, aged debtor and creditor listings to help you get a better understanding of the business, commercial trends and prospects for the year ahead.
Contact Us Today to make sure your annual accounts are prepared in the best way possible!
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