Professional Company Accounts in Forest Row

Get in touch

Company Accounting in Forest Row

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 Forest Row

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 RH18 5

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 Forest Row (East Sussex)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Windmill Hill Hazard's Green Piltdown Dallington Roser's Cross Glenleigh Park Saltdean Berwick Withyham Glyne Gap Witherenden Hill Horney Common Wivelsfield Four Oaks Lower Willingdon Baldslow Willingdon Balls Green Ridgewood Teasley Mead Hangleton John's Cross Cowbeech Hill Mill Corner Green Street Tolhurst Upper Hartfield Halland Blacklands Nutley Upper Horsebridge Three Leg Cross Heathfield Hollingbury Eridge Green Wivelsfield Green Strawberry Hill Chelwood Common Dittons Vinehall Street Sleeches Cross East Moulsecoomb Barcombe Mile Oak Coleman's Hatch Brownbread Street Frant Cowbeech Kemp Town Glynde Eastbourne Wood's Green St Helen's Southease Little Horsted Old Town Punnett's Town South Street Burwash Weald Streat Chapman's Town Sharpsbridge Sedlescombe Upper Wellingham Northiam Pett Level Silverhill Winton Argos Hill Cousley Wood Town Row Sweethaws Quabrook Preston Groombridge Chalvington Churches Green Beacon Down Starr's Green Alfriston Poundfield North Chailey Spithurst Grove Hill Guestling Thorn Houghton Green Hartfield Mount Pleasant Combe Iford Hollingdean Beckley Furnace High Hurstwood Potter's Green Clayhill Mark Cross Burlow Westmeston Mount Pleasant Brightling Rockrobin Chuck Hatch Peacehaven Kingston near Lewes Ovingdean Burwash Hamsey Southover Aldrington Foxhunt Green Hailsham Pounsley Castle Hill Cooper's Green Stone Cross Brighton Chiddingly West Blatchington Westdean Rushy Green Sheffield Green Whitesmith Durgates Hammerwood Burgh Hill Trolliloes West Park Etchingwood Exceat Blackboys Arlington Wood's Corner Hellingly Maresfield Chiltington Wartling Belmont Mountfield Horam Whydown Ringmer Swaile's Green Wadhurst Coggins Mill Eckington Corner Rye Harbour Wilmington Whitehill Sidley Poundgate Heathfield Ninfield Rocks Park Crowborough Warren East Blatchington South Chailey Charlwood Horns Cross Flowers Green Furner's Green Uckfield Maynard's Green Cooksbridge Three Oaks Hurst Green Wilmington Green Bishopstone Down Street Barcombe Cross Westdene Rose Hill Guestling Green Thunder's Hill Mark Cross Pound Green Bardown South Heighton Iden Rottingdean Wannock Fairwarp Litlington Sandy Cross Godleys Green Downside East Guldeford Bachelor's Bump Catsfield Stream Red House Common Burgh Hill West Hill Chapel Cross Foul Mile Oxley's Green Palehouse Common Butcher's Cross West Firle Horsted Green Lower Horsebridge Broad Street Woodmans Green Cliff End Lions Green Telscombe Lower Cousley Wood Hastings Heron's Ghyll Rickney Peacehaven Heights East Hoathly Stunts Green Henley's Down Five Ash Down Boreham Street Bowler's Town Denton Jarvis Brook Whatlington Chailey Chapel Row Ponts Green Hale Green Little Norlington Gotham Glyndebourne Penhurst Rushlake Green Crowhurst Ford's Green Stanmer Broad Oak Mutton Hall Pell Green Piddinghoe Cade Street Chelwood Gate Dale Hill Etchingham Wallands Park Lewes Norton Waldron Down Upperton Marden's Hill Patcham Canadia Bodle Street Green Telham Portslade Village Flackley Ash Hadlow Down Ore Little Bayham Earl's Down Steven's Crouch Hooe East Chiltington Little Common Holmes's Hill Laughton Udimore Hove Mayfield Broomsgrove Lunsford's Cross Cross in Hand Salehurst Five Ashes Moulsecomb Norlington Clive Vale Broomham Tidebrook Mount Ephraim Chilsham Birling Gap Lidham Hill Jumper's Town Budlett's Common Coldean Playden Peasmarsh Camber Bohemia Fairlight Cove Bulverhythe Steel Cross Danegate Telscombe Cliffs Cock Marling Silver Hill Chitcombe Ashton Green Roedean Hankham Sparrow's Green Willard's Hill Buxted Laughton Common Winchelsea Beach Holtye Foulride Green Hollingrove Southover Twelve Oaks Selmeston Friar's Gate Pebsham St John's Landport Hawkhurst Common Waldron Three Cups Corner Beachlands Beddingham West Marina Rotherfield Seaford Fletching Common Goatham Green Ditchling Collier's Green Wickstreet Hall's Close Withdean Netherfield Russell's Green Hollington Shortbridge Rusher's Cross Langney Snagshall Ticehurst Terrible Down Winchelsea High Cross Highgate Staplecross Plumpton Green Beckley Whitehawk Northbridge Street Turner's Green Lye Green Milton Street Watermill Lower Dicker Battle Stonegate Upper Dicker Ripe Burwash Common Sutton Burnt Oak Cackle Street Magham Down Caneheath Newbridge Manor Park Woodingdean Poundford Seacox Heath Golden Cross Mott's Mill Cooden Tilsmore The Highlands Forest Row Berner's Hill Broadland Row Stone Cross Blackham Jury's Gap Golden Cross Broad Oak Broyle Side Hooe Common Park Corner Best Beech Hill Harley Shute Isfield Boarshead Park Corner East Dean Meads Roselands St Helen's Wood Gun Hill Catsfield Herstmonceux Old Town Rye Shortgate Pevensey Bay Ewhurst Green Westham Sharp's Corner Summer Hill Offham Nash Street Maresfield Park Town Littleworth South Malling Old Town Friston Marlpits North Moulsecoomb Wych Cross Newhaven Black Rock Fletching Pevensey Bevendean Icklesham Alciston Davis's Town Lower Street Muddles Green Bells Yew Green Birchett's Green Grisling Common Duddleswell Warbleton Flimwell Pestalozzi International Village Marle Green Folkington Stone Cross Fairlight Ringles Cross Ashburnham Forge Jevington Union Street Robertsbridge Firle Wellbrook Bexhill St Leonards Tarring Neville Plumpton Rodmell Silverhill Park Vines Cross Birchden Brede Splayne's Green Old Heathfield Harbour Heights Cackle Street Polegate Rye Foreign Darwell Hole Shover's Green Framfield Cripp's Corner Cackle Street Danehill Pett Alderbrook Westfield Friar's Hill Little London New Town Newick Wallcrouch Turner's Green Norman's Bay Gallypot Street Mill Hill Bodiam Eason's Green Hampden Park Ginger's Green Lyewood Common Falmer Blackness Crowborough Tompset's Bank