Professional Company Accounts in Ravenswood Village Settlement

Get in touch

Company Accounting in Ravenswood Village Settlement

At The Tax Advisors, we understand that preparing and filing company accounts can be daunting for many business owners.

As a professional and affordable group of tax accountants based in the UK, we are here to help you navigate the complexities of this process and ensure that your financial records are accurate, compliant, and filed on time.

Contact us today to find out how we can help with your professional company accounts.

Get in touch

What Are Company Accounts?

Company accounts are financial statements that provide a detailed overview of a company's financial performance over a specific period, typically a fiscal year.

These accounts are essential for informing stakeholders, such as shareholders, creditors, and regulatory bodies, about the company's financial health.

Why Is It Important to Prepare and File Company Accounts?

  1. Legal Requirement: In the UK, all limited companies must prepare and file annual accounts with Companies House and HMRC. Failure to do so can result in penalties and legal repercussions.

  2. Financial Transparency: Company accounts offer transparency to stakeholders, helping them make informed decisions about investments, loans, and partnerships.

  3. Tax Compliance: Accurate accounts are crucial for calculating corporation tax liabilities and ensuring that your company pays the correct amount of tax.

The Process of Preparing Company Accounts

1. Gather Financial Information

The first step in preparing company accounts is gathering all relevant financial information. This includes:

  • Sales Invoices: Records of all sales made during the financial year.

  • Purchase Invoices: Documentation of all expenses and purchases.

  • Bank Statements: Detailed statements of all transactions made through the company's bank accounts.

  • Payroll Records: Information on salaries, wages, and other employee benefits.

  • Receipts: Proof of any other business-related expenditures.

2. Record Transactions

Once you have gathered all necessary financial data, the next step is to record these transactions accurately. This can be done using accounting software or manually in ledgers. Proper categorisation of income and expenses is crucial to ensure accuracy in the final accounts.

3. Prepare Financial Statements

The key financial statements that need to be prepared include:

  • Profit and Loss Account (P&L): This statement shows the company's revenues, costs, and expenses during the financial year, resulting in the net profit or loss.

  • Balance Sheet: A snapshot of the company's financial position at the end of the financial year, including assets, liabilities, and shareholders' equity.

  • Cash Flow Statement: This statement tracks the cash flow in and out of the business, highlighting the company's liquidity.

4. Review and Adjust

Before finalising the accounts, reviewing and adjusting them for any discrepancies, such as unpaid invoices or unrecorded expenses, is essential. This ensures that the accounts accurately represent the company's financial status.

Filing Company Accounts in Ravenswood Village Settlement

1. Filing with Companies House

Once the accounts are prepared, they must be filed with Companies House. The deadline for filing is typically nine months after the end of the financial year. This process can be completed online or by post.

2. Filing with HMRC

In addition to filing with Companies House, companies must also file a Company Tax Return (CT600) with HMRC, including the full statutory accounts and tax computations. The deadline for filing is usually 12 months after the end of the financial year.

3. Pay Corporation Tax

After filing your accounts and tax return, you will need to pay any corporation tax due within nine months and one day after the end of your accounting period.

FAQs about Company Accounts in RG45 6

What happens if I file my company accounts late?
Late filing can result in penalties from Companies House, starting at £150 and increasing the longer the delay. HMRC may also impose fines and interest on unpaid corporation tax.

Can I file my company accounts myself?
Yes, you can file your company accounts yourself. However, seeking professional help to ensure accuracy and compliance with UK accounting standards is advisable.

What is the difference between abridged and full accounts?
Abridged accounts are a simplified version of full accounts, omitting detailed profit and loss information and reducing the detail required in the balance sheet. Small companies often file abridged accounts to maintain privacy.

The Tax Advisors: Your Partner in Preparing and Filing Company Accounts

At The Tax Advisors, we offer a comprehensive range of services to help you prepare and file your company accounts with ease. Our team of experienced tax accountants provides tailored advice and support, ensuring that your accounts are accurate, compliant, and submitted on time. With our professional and affordable services, you can focus on growing your business while we take care of the numbers.

Why Choose The Tax Advisors?

  • Expertise: Our team is well-versed in UK accounting standards and tax laws, ensuring that your accounts are prepared to the highest standards.

  • Affordability: We offer competitive pricing, making professional accounting services accessible to businesses of all sizes.

  • Personalised Service: We take the time to understand your business, offering bespoke advice and solutions that meet your specific needs.

Contact Us Today

For more information on how we can assist with preparing and filing your company accounts, contact The Tax Advisors today.

Simply drop us a message and we will be in touch with help and advice.

Let us help you stay compliant, save time, and avoid unnecessary penalties.

Get in touch

We cover Ravenswood Village Settlement (Berkshire)

Get in touch

We aim to get back to you in 1 working day.


Skip to

Gallery

Other locations available for professional company accounts
Clay Hill Sonning Eton Wick Cippenham Horncastle Amen Corner Holyport Compton Cookham Sheffield Bottom Combe Inkpen Common Bowsey Hill Aldermaston Soke Shinfield Owlsmoor Malpas Tickleback Row Caversham Heights Farley Hill West Ilsley Hyde End Holly Cross Twyford Curridge Cookham Dean Cold Harbour Wickham South Field Riseley World's End New Town Caversham Scotswood Ashmore Green Barkham Borough Marsh Brightwalton Upton Lea Britwell Bury's Bank Calcot Winkfield Catmore Nuptown Rotten Row Clewer Village Windsor Aldworth Poundgreen Crowthorne Hythe End New Greenham Park Holloway Gardeners Green Wasing Stanford End Bracknell Bucklebury Yattendon Eddington Upper Lambourn Woodlands St Mary Woolley Green North Heath Carter's Hill Upper Green Winding Wood The Rise Broomhall Woodside Turner's Green Ashampstead Green Lambourn Sunningdale Grazeley Grazeley Green Chapel Row Horton Farnborough Pingewood Quick's Green Winkfield Place Whitehouse Green Hell Corner Upper Basildon Waltham St Lawrence Cookham Rise Avington Beenham Hoe Benham Pinkneys Green The Slade East Garston East Fields Goldfinch Bottom Westridge Green Woodlands Leckhampstead Thicket Woolhampton The Holt Weston Applehouse Hill Stockcross Stratfield Mortimer Whiteknights Crazies Hill Anvilles Bucklebury Alley North Town Altmore Cheapside Stud Green Upper Woolhampton Pangbourne Ownham Birch Hill Datchet Common Hare Hatch Great Lea Common Sunnymeads Stubbles Fishery Tidmarsh Goddard's Green Sandhurst Purley on Thames Stanmore Bagnor Eton Halfway Greenham Littlefield Green Hungerford Green Lower Earley Woodspeen Lower Green Hungerford Newtown Burghfield Salt Hill West Woodhay West End Ruscombe Littlewick Green Great Hollands Oare Woodlands Park South Ascot Hurst Egypt Padworth Hamstead Marshall Kiff Green Knowl Hill Spencers Wood Four Points Charvil Mortimer Donnington Beaumont Nodmore Maiden's Green Elcot Hawthorn Hill Kiln Green Fifield Shefford Woodlands Westrop Green Wellhouse Ragnal Sulhamstead Abbots Whistley Green Mell Green Langley Common Dowlesgreen Aldermaston Wharf Bigfrith Great Shefford Temple Bothampstead Lower Caversham Arborfield Garrison Arborfield East Ilsley Wash Common Easton Sindlesham Welford Ufton Nervet Beenham Stocks Wokingham Four Houses Corner Inkpen Warfield Heathlands Ryeish Green Tittenhurst Hermitage Village, The Crookham Sulham Chavey Down College Town Streatley Lilley Midgham Lynch Hill Beedon Hill Tutts Clump Leckhampstead Jennetts Hill Tilehurst Little Hungerford Scotland Crown Wood Newbury Brands Hill Winnersh Maidenhead Court Remenham Upper Bucklebury Cranbourne Hurley Slough Popeswood Maidenhead Manor Park Emmbrook Sanham Green Sunninghill Arborfield Cross Peasemore Trapshill Aldermaston Theale Ashampstead Ravenswood Village Settlement Skinners Green Ascot Burchett's Green Wick Hill Spital Clewer Green Frilsham Honey Hill Hurley Bottom Little Heath Titcomb Brightwalton Holt Bishop's Green Winkfield Row Eastbury Cockpole Green West Fields Old Windsor Sulhampstead Bannister Upper End Tittle Row Templeton Leverton Earley Midgham Green The Throat Crockham Heath Woodley Reading Westbrook Sulhamstead Bray North Ascot Hampstead Norreys Lambourn Woodlands Marsh Benham Touchen-end Whitley Bisham Colthrop Lower Padworth Enborne Row Easthampstead Finchampstead The Mount Hunt's Green Jealott's Hill Eastheath Moneyrow Green Ufton Green West End Miles's Green Whitley Wood Brimpton Oakley Green Remenham Hill Matthewsgreen North Street Burghfield Hill Churchend Marsh Gate Stubbings Wick Hill Wickham Heath Brightwalton Green Beenham's Heath Trash Green Little Sandhurst Bray Wick Beedon Cold Ash Stanford Dingley Furze Platt Hungerford Fawley Newell Green Boxford Beech Hill Warren Row Speen Southcote Clapton Winterbourne Longlane Shaw Woodley Green Cox Green Chalvey Thatcham Holme Green South Fawley Purton Schoolgreen Wargrave Paley Street Southend Brimpton Common The Ridges Dedworth Hungerford Burnt Hill Harmans Water Wraysbury Moss End Southend Bullbrook Cabbage Hill Swallowfield Braywoodside Aston Parker's Corner Brookside Enborne Highway Datchet Hanworth Calcot Row Englefield Wildridings Langley White Waltham Sheepdrove Wash Water Boyn Hill Emmer Green Shurlock Row Chieveley Binfield Kintbury Wood End Coley Priestwood New Town Three Mile Cross Burghfield Common Eling Merryhill Green Hopgoods Green Wawcott Hillgreen Lower Basildon Clewer New Town Blacknest Wickham Green Chaddleworth Bradfield Upton Downend Padworth Common