Professional Company Accounts in Streetly End

Get in touch

Company Accounting in Streetly End

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 Streetly End

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 CB21 4

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 Streetly End (Cambridgeshire)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Haddenham Second Drove Haslingfield Town End Wimpole Orton Waterville Oxlode Tetworth Stilton Wilburton Orwell Fenton Earith Ellington Thorpe Caldecote Ellington Great Wilbraham Ashley Wennington Orton Goldhay Gamlingay Gatley End Litlington Pidley Orton Southgate Dillington Hail Weston Caxton Guilden Morden Brandon Bank Little Downham Hamerton Castle Camps Elm Eastwood End Broughton Oldhurst Castle End Haddon Thornhaugh Frog End Paston Brington Stanground Little Shelford Sandhill Toft Black Horse Drove Carlton Green Rampton Boxworth Little Stukeley Wittering Orton Malborne Bassingbourn Brinkley Ramsey Forty Foot Turves Croxton Foxton Orton Brimbles Whaddon Bluntisham California Horningsea Weston Green Chippenham Swaffham Bulbeck Holywell Coldham's Common Longthorpe Stonely Littleport Fen Ditton Helpston Godmanchester Coton Willingham Green Carlton Childerley Gate Etton Elton Abbotsley Babraham March Conington Pampisford Folksworth Odsey Wendy Dogsthorpe Bythorn Down Field Harston Shudy Camps Marholm Linton Eldernell Old Wimpole Madingley Offord Cluny Eaton Ford Abbots Ripton Hampton Hargate Abington Pigotts North Side Little Chishill Mile End Heydon Peakirk Duxford Oakington Great Raveley Keyston Bunker's Hill Cardinal's Green Colne Wood Walton Eye Long Meadow Great Chishill Denton Hemingford Grey Little Catworth Croydon Castor Doddington Sawtry Little Gransden Boxworth End Somersham Hatley St George Snailwell Romsey Town Chiswick End Little Thetford Northborough Fenstanton Chapel End Hildersham Little Ouse Broad Hill Badgeney Woodston Highfields Dullingham Owl End Witcham Washingley Waterbeach Barham Spaldwick Queen Adelaide Alconbury Weston Colville Soham Cotes Friday Bridge Southorpe Stonea Kneesworth Sutton Gault Hauxton West Wratting Little Paxton Ferry Hill Broad Green Comberton Foul Anchor Knight's End Winwick Morden Green Elsworth Waresley Kennett Whittlesford Hemingford Abbots Little London Little Ditton Buckden Holme New Fletton Park End Leverington Newborough Stuntney Wicken Bottisham Werrington Newnham Coppingford Graveley Brook End Wisbech St Mary Guyhirn Gull Ickleton Upton Cambridge High Cross Green End Little End Glinton Burrough Green Huntingdon Iron Bridge Colnefields Yaxley King's Dyke Great Gidding Dry Drayton Soham Southoe Kingston Stretham Hardwick Isleham Water Newton Benwick Commercial End Parson Drove Eltisley Church End Fengate Clayhithe Bourn Steeple Gidding Ring's End Kennett End Westley Waterless Whittlesey Buckworth Horseway Pymore/Pymoor Mill Green Toseland The Hermitage Stirtloe Bretton Kirtling Green Wardy Hill Great Abington Grantchester Whaddon Gap Black Bank Over End Newark Chatteris Little Gidding Needingworth Maxey Hilton Upend Chainbridge Offord D'Arcy Barnack Duck End Sawston Peterborough The Green East Hatley Great Shelford Ramsey St Mary's Coates Ely Stibbington Church End Kirtling Church End Houghton Girton Manea Begdale Diddington Denny End Easton St Ives Claypit Hill Fordham Woodhurst Thorney Toll Ufford Fitton End Burton End Horseheath Gamlingay Great Heath Conington Sutton Streetly End Ramsey Mereside Ailsworth Thorney Great Gransden Farcet Glatton North Brook End Upware Norman Cross Frog End Kings Hedges Trumpington Gorefield Purls Bridge Christchurch Eastfield Bury Arbury Willingham Steeple Morden Barrington Caldecote Leverington Common Molesworth Stapleford Nosterfield End Chesterton Bar Hill Lolworth Hinxton Balsham Pymoor Burwell Grafham Shingay Wisbech Camps End Warboys Little Abington Swavesey Norwoodside Cottenham Harlton Ramsey Ditton Green Barway Eastgate Tilbrook Wentworth Teversham Wothorpe Over Woolley Impington Leighton Bromswold Hook Longstanton West Wickham Elford Closes Shepreth Great Green Little Eversden Alconbury Weston Eye Green Dyer's Green Roman Hill Landbeach Walton Westwood Knapwell Bartlow Saxon Street Eastrea Cambourne New England Eaton Socon Mepal Sapley West Perry Flood's Ferry Church End Chettisham Upton Moor End Fulbourn Tadlow Barton Papworth St Agnes Newton Arrington Tydd St Giles Witchford Tholomas Drove Thriplow Fowlmere Aldreth Dunkirk Orton Wistow Alwalton Sutton Covington Pilsgate Hardwick Reach Church End Haddenham End Field Little Raveley River Bank Burrough End Kimbolton Little Green Heathfield Newtown Mill End Widgham Green Lode Swaffham Prior Stow Longa Great Eversden Milton East Perry Prickwillow Newton Peas Hill Gunthorpe Millfield Chesterton London End Green End Pondersbridge Kings Ripton Orton Longueville Chapel Head Cherry Hinton Stow cum Quy Woodditton Papworth Everard Ashton Westry Longstowe Deeping Gate Westwick Staughton Highway Melbourn Histon Meldreth Ravensthorpe Great Paxton Olmstead Green Wistow Chittering Old Fletton Stetchworth Cheveley Flint Cross Great Staughton Wimblington Murrow Bainton Upwood Hartford East Fen Common Islands Common Dullingham Ley Morborne Collett's Br Great Stukeley Gamlingay Cinques Coldham Brampton Yelling Four Gotes St Neots Eynesbury Staughton Green Catworth Swingbrow Sibson Old Weston Coveney White Cross Hill Guyhirn Wansford Fen Drayton Brampton Park Little Wilbraham