Professional Company Accounts in Ashgate

Get in touch

Company Accounting in Ashgate

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 Ashgate

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 S40 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 Ashgate (Derbyshire)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Gowhole Goseley Dale Bakewell Astwith Combs Grassmoor Whatstandwell Cliff Thurvaston Charlestown Dalebank White Moor Crich Carr Cowhill Clay Cross Sinfin Moor Darley Abbey Nether Chanderhill Lullington Cinderhill Matlock Dale Farley Over End Pye Bridge Lower Crossings Peak Forest Churchtown Litton Belper New Bolsover Blackbrook Bolehill Langwith Junction Loscoe Kelstedge Wyaston Hassop Hales Green Wilday Green Matlock Wirksworth Moor Church Wilne Old Brampton Weston Underwood Breaston The Brushes Shipley Common West Hallam Hill Top Codnor Park Hundall Dronfield Hathersage Booths Brassington Burntheath Stanton-by-Dale Holmley Common Marston on Dove Little Hayfield Pilhough Marlpool Alton Heanor Bretby Biggin Simmondley Littleover Great Hucklow Oxton Rakes Snape Hill Broadholm Morleymoor Froggatt Coplow Dale Rowthorne Cutthorpe Brockhurst Sleet Moor Barrow upon Trent Scropton Nether Loads Heanor Gate Bradwell Hobroyd Holestone Birdholme Low Leighton Sapperton Brailsford Green Lower Pilsley Upper Loads Hull End Bargate Littlemoor Tansley Sutton on the Hill Gorseybank Killamarsh Wilsthorpe Cross Hill Woodside Willington Biggin Westthorpe Cowley Wormhill Eckington Shirley Blackbrook Millthorpe Woodthorpe Hilcote Bubnell Twyford Dimple North Wingfield Snitterton Cromford Commonside Pomeroy Canholes Boulton Moor West Edge Edlaston Pikehall Freebirch Cross o'th hands Rowsley Leam Bullbridge Newbold Priestcliffe Ditch Woodside King's Newton Swanwick Cubley Common Swadlincote Upperthorpe Pinxton Draycott Knockerdown Morley Calver Sough Spondon Brimington Little Longstone Norbury Peak Dale Wensley Ible Holymoorside Nether Heage Northedge Pilsley Green Grangemill Little Chester Hodthorpe Far Laund Nether End Danesmoor Higher Dinting Great Longstone Monyash Upper Hartshay Lightwood Bolehill Denby Common Bretton Emmett Carr Brook Bottom Thorpe The Holmes Woolley Hazelwood Sterndale Moor Thornsett Greenhillocks Codnor Gate Hady Hathersage Mackworth Crist Upper Town Smalley Common Roston Cock Alley Longford Mastin Moor Loundsley Green Temple Normanton Darley Dale Weston-on-Trent Windley Castle Gresley Rowarth Perryfoot Farlands Booth Harlesthorpe Boylestonfield Langwith Calton Lees Moorend Whaley Bridge Upper Town Whitehough Little Hucklow Toadmoor Morley Smithy Kirk Ireton Matlock Bridge Shottlegate Snelston Earl Sterndale Priestcliffe Nether Burrows Swathwick Old Dam Longcliffe Dale Abbey Ticknall Langley Common Newton Farnah Green King Sterndale Troway Breadsall Longfordlane Wheatcroft Longway Bank Rosliston Dalbury Calow Green Middleton Gallows Inn Hearthstone Heath Oakerthorpe Brampton Woodville Aldwark Corbriggs Langley Bole Hill Heathtop Tunstead Pleasley Oaks Green Upper Booth Castleton Little Hallam Matlock Bath Sparrowpit Bakestone Moor Warmbrook Whittington Moor Marston Montgomery Turnditch Smalldale Hardstoft Swarkestone Upper Hackney Codnor Breach Matlock Cliff Holmewood Hopton Larklands Old Glossop Upperdale Somersal Herbert Arkwright Town Upper Padley Slatepit Dale Miller's Dale Short Heath Upperwood Riber Higher Chisworth Buxworth Elmton Hillstown Over Burrows Moravian Settlement Cotes Park Malcoff Breadsall Hilltop Boundary Lee Head Calver Mickleover Brookhouses Church Gresley Brimington Common Barber Booth Taddington Mickley Ashover Glapwell Fallinge Rise End Great Cubley Hare Edge Thulston Bullhurst Hill Duffield Stoney Middleton Apperknowle Linton Heath Flaxholme Baslow Barlborough Inkersall Green Eyam Tansley Knoll Idridgehay Green Risley Horsley Woodhouse Penny Green Winster Kilburn Sinfin Netherseal Fairfield Chellaston Thurvaston Cockyard Linton The Forties Lydgate Hilton Darley Bridge Shelton Lock Brindwoodgate Hargatewall Nether Padley Shatton Birch Vale Stonegravels Ashleyhay Lane Head Newhaven Crowden Denby Village Stanley Unthank Sheldon Mapperley Wirksworth Gamesley Markeaton Lees Hulland Village St Luke's Boulton Northwood Shottle Waterside Lower Kilburn Charlesworth Leadmill Boylestone Matlock Bank Hill Somersal Wessington Long Duckmanton Dunsa Street Lane Press Fenny Bentley Stanton Lees Stenson Horsley Creswell Lower Hartshay Smalley Green Alkmonton Kirk Langley Townend Renishaw Egginton Bradley The Flourish Ironville Openwoodgate Findern Holbrook Moor Stanton by Bridge Duckmanton Smalldale Mapleton Bramley Vale Holehouse Rodsley Dove Holes Aldercar Newlands Grindlow Langley Green Ault Hucknall Ripley Town Head Upper Newbold Hadfield Codnor New Brimington Normanton New Smithy Hague Bar Slackhall Tideswell Bradbourne New Houghton Golden Valley Duffieldbank Bolsover Tissington Stony Houghton Whaley Thorns Carsington Wadshelf Ireton Wood Smalley Walton Little Eaton Riddings Dale End Belper Lane End Hulland Moss Hallam Fields Scotches High Moor Hollington Grove Sunny Hill Cokhay Green Pear Tree Brookside Stanley Common Owlcotes Scarcliffe Alvaston Alderwasley Alsop en le Dale Potter Somersal Stanfree Wheston Rowland Coal Aston Model Village Elton Quarndon Hatton Bagshaw Gosforth Valley Newhall Slaley Ednaston Ford Holmesfield Oxcroft Estate Muggintonlane End Fernilee Burbage Blackwell Sandiacre Carr Vale Ashbourne Shirebrook Limekiln Field Brailsford Coton Park New Sawley Glossop Cherrytree Hill Grindleford Alport Stonebroom Chunal Bamford New Horwich Brackenfield Parwich Two Dales Osmaston Foston Oxcroft Ingleby Ockbrook Morton Padfield Aston Trusley Hognaston Church Broughton Youlgreave Tibshelf Lane Ends Heathcote Westhouses Milltown Walton-on-Trent Wardlow Doe Lea Parkhouse Green Cowlow Waingroves Hargate Hill Bonsall Overseal Sudbury Millington Green Bridgemont Horwich End Foremark Ridgeway Holbrook Hulland Ward Barrow Hill Ladmanlow Mount Pleasant Osleston Hardstoft Common Abney Deepclough Atlow Common Side Coton in the Elms Tomthorn Derby Handley Etwall Buxton Slack The Gutter Milford Hepthorne Lane Little Bolehill Tupton Compton Pentrich Waldley Wingfield Park Furness Vale Brough Hilltop Higham Radbourne Curbar Smithy Houses Crowhole Butterley Taxal Town End Chesterfield Oakwood Hammersmith Ambaston Middleton Dronfield Woodhouse Hallfield Gate Chapel Milton Mugginton Blackwall Kniveton Camphill Hillcross Coldeaton Tunstead Milton Moorfield Heage Edensor Borrowash Highlane Waterloo Common End Belph Ashopton Pride Park Boothgate Long Eaton New Whittington Wash Leabrooks Aston-on-Trent West Handley Millers Green Morley Park Ridgeway Moor Ridgeway Stoneyford Eagle Tor Great Wilne Oaker Farhill Ashover Hay South Wingfield Staveley Burnaston Langley Mill Lea Marehay Bramley Hillclifflane Foolow Old Whittington Shirland Shardlow Upper Midway Yeaveley Calow Rose Hill Uppertown Repton Egginton Common Hope Wigley Sawley Starkholmes Ilkeston Common Side Chelmorton Elvaston Flagg Barlow Yeldersley Hollies Hayfield Litchurch Caldwell Idridgehay Newtown Unstone Green Tapton Chinley Woodlinkin Brookfield Poolsbrook Shacklecross Makeney Spitalhill Nether Booth Pilsley Crowdicote Stanton in Peak Stainsby Little Cubley Grindsbrook Booth Blackwell Bradford Chisworth Middle Handley Stretton Peasehill Tintwistle Norwood Chapel-en-le-Frith Brightgate Allestree Longlane Chinley Head Williamthorpe Smisby Calke New Mills Dunston Unstone Staden Ashgate Edale Brushfield Edale End Greenside Denby Bottles Bridgeholm Green Beeley Callow Mercaton Highfields Inkersall Netherthorpe Lower Thurvaston Lower Birchwood Allenton New Stanton Upper End Owler Bar Stanton Gate Glutton Bridge Shipley Holmesdale Darley Hillside Boythorpe Cressbrook Crewton Wingerworth Birleyhay Quarndon Common Birchover Alfreton Clowne Highcliffe Marsh Lane Sutton Scarsdale Doehole Etwall Common Lower Midway Park Head Litton Mill Milton Kedleston Woodseats Winsick Fritchley Ballidon Mount Pleasant Shireoaks Moorhall Summerley Annwell Place Pilsley West Broughton Hollingwood Southwood Crich Whaley Rawson Green Ashford in the Water Dale Moor Aston Holloway Newton Solney Hollins Osmaston Upper Langwith Over Haddon Harpur Hill Upper Birchwood Lane End Fallgate Chaddesden Nether Moor Nether Handley Doveridge Kirk Hallam Hartington Middlecroft Robin Hood Sheepbridge Whitwell Cowers Lane Ollerbrook Booth Palterton Trentlock Mount Pleasant Somercotes Spinkhill Hartshorne Cotmanhay Thornhill Rylah Clifton Butterley Old Tupton South Normanton Palmer Moor Hollington Melbourne Coxbench Harehill Bradwell Hills Shuttlewood Cartledge Hallowes Hasland