Accounts preparation, for internal and external reporting purposes, is our core discipline. This process can begin from bringing in a bag of invoices and bank statements, or granting us access to a fully reconciled cloud hosted computerised book-keeping data set, or anywhere in between.
Although the primary aim of accounts preparation is to report the performance and financial position to the stakeholders of a business, we shall also advise you on the following other factors:
- The resulting taxation consequences,
- The optimum choice of accounting reference date (ie Year End).
- Selection of appropriate accounting policies.
- The view the accounts present to bankers, potential investors, credit rating agencies and your competitors,
- Industry standards for the accounting policies followed to prepare these statutory accounts.
Instruct us to prepare your accounts and we shall unburden you of the worry of correctly calculating how your business has performed and we shall take away the complication of ensuring all technical disclosures are correct. We shall also ensure that they are prepared in sufficient time to be filed with the relevant Authorities by the statutory filing deadlines, so that no late filing penalties are incurred. When preparing these accounts, we shall be mindful that your tax liability is related to these results and we shall actively seek proven techniques to save you tax.
We are aware that you will wish to keep information relating to your financial performance as confidential as possible. Where eligible and relevant, we shall therefore seek to prepare abbreviated accounts for filing on the public record at Companies House. These will disclose your balance sheet, accounting policies and a few other ‘technical’ notes. No disclosure is made, however, of your turnover, profitability, directors remuneration or dividends.
Once accounts have been prepared, we can then measure financial performance and begin investigating how, either, the results can be influenced or how the current position can be protected. This exercise is often most useful when undertaken prior to your next year end.