Professional Company Accounts in Lower Horsebridge

Get in touch

Company Accounting in Lower Horsebridge

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 Lower Horsebridge

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 BN27 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 Lower Horsebridge (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
Halland West Hill Marle Green Manor Park Steel Cross St Helen's Wood Bowler's Town Winchelsea Willingdon Marlpits Pebsham Mount Ephraim Hamsey Newhaven Southease Belmont Red House Common Fletching Nutley Silverhill Iford Alderbrook Wellbrook Wivelsfield Green Glyndebourne Pevensey Bay Willard's Hill Mott's Mill Hooe Common Chalvington Jevington Salehurst St Helen's Rocks Park Flimwell Furner's Green Sharp's Corner Green Street Crowhurst Sidley Folkington Brownbread Street Westdene East Chiltington Bodle Street Green Blackness Hurst Green Peasmarsh Burwash Hangleton Four Oaks Burnt Oak Stunts Green Danehill Wickstreet Park Corner Holtye Barcombe Cross Berwick Mountfield Charlwood Hollingrove Battle Splayne's Green Shortbridge Combe Mount Pleasant Down Street Mayfield Chuck Hatch Guestling Thorn Warbleton Turner's Green Godleys Green Dallington Withdean Sheffield Green Muddles Green Whatlington Laughton Churches Green Crowborough Plumpton Seaford Birchden Rusher's Cross Wivelsfield West Blatchington Selmeston Heron's Ghyll Russell's Green Langney Spithurst Maresfield Shortgate Tompset's Bank Lye Green Pounsley Burwash Common Rye Foreign Cousley Wood Saltdean Eastbourne Starr's Green Cooper's Green Friston Netherfield Boreham Street Palehouse Common Rodmell Lower Cousley Wood Union Street Cackle Street Five Ash Down Coggins Mill Uckfield East Moulsecoomb Brightling Mark Cross Landport Hastings Piltdown Firle Chapel Row Hartfield Ninfield Teasley Mead Hammerwood Heathfield Dittons South Street Preston Earl's Down Cooksbridge Chiddingly Northbridge Street Laughton Common New Town Sleeches Cross Bardown Waldron Down Piddinghoe Telham Wannock Robertsbridge Chapel Cross Grove Hill Broomsgrove Seacox Heath Cross in Hand Little Horsted Beckley Furnace Litlington Quabrook Upper Hartfield Frant Swaile's Green Durgates Stonegate Pestalozzi International Village Eckington Corner Glynde Cowbeech Hill Rickney Rotherfield Broad Oak Little Common Henley's Down Canadia Old Heathfield Harley Shute Upper Horsebridge Falmer Oxley's Green Holmes's Hill Gotham Pevensey Telscombe Cliffs Mark Cross Chiltington Hankham Foul Mile Broad Oak Ripe Chailey Snagshall Tolhurst Lions Green Bachelor's Bump Pett Darwell Hole Glyne Gap Hampden Park Chapman's Town Lunsford's Cross Poundfield Ringles Cross Playden Rushy Green Stanmer Cowbeech Kemp Town Grisling Common Southover Rockrobin Black Rock North Chailey Upper Dicker Penhurst John's Cross Guestling Green Barcombe Burgh Hill St Leonards Bexhill Clayhill Ditchling Rottingdean Whitesmith Meads Vines Cross Five Ashes Hollingbury Beacon Down Roselands Moulsecomb Little Bayham South Malling Argos Hill Cripp's Corner Chelwood Common Mile Oak Burlow Brede Eason's Green Ridgewood Westham Flackley Ash Wych Cross Hooe Whydown Hawkhurst Common Harbour Heights Lower Street Gun Hill Horney Common Mutton Hall Budlett's Common Stone Cross Etchingwood Magham Down Cackle Street East Blatchington Ringmer Trolliloes Steven's Crouch Alciston Hailsham Birling Gap Coldean Three Cups Corner Shover's Green Wallands Park Twelve Oaks Alfriston Little London Poundford Cade Street Hollington Davis's Town Horsted Green Cackle Street Blacklands Westfield Golden Cross Broyle Side Iden Poundgate Lower Willingdon Maynard's Green Icklesham Castle Hill Hall's Close Broad Street Fairlight Cove Summer Hill Rushlake Green Strawberry Hill East Guldeford Friar's Gate Mill Hill Udimore Old Town Best Beech Hill Cliff End Town Row Horns Cross Withyham Birchett's Green Denton Sutton Witherenden Hill Woodingdean Lower Horsebridge Blackboys Ashton Green Hale Green Exceat Isfield Ginger's Green Westdean Bevendean Chilsham Telscombe Berner's Hill Balls Green Marden's Hill Goatham Green Arlington Framfield Hazard's Green Peacehaven South Heighton Woodmans Green Three Leg Cross Staplecross Tidebrook Burwash Weald Whitehawk Dale Hill Kingston near Lewes Tarring Neville Hollingdean Silverhill Park Groombridge Plumpton Green Fairlight West Park Offham Norman's Bay Norlington Bohemia Watermill West Firle Danegate Westmeston Caneheath Winton Sweethaws Catsfield Roser's Cross Turner's Green Rye Harbour Cooden Clive Vale Burgh Hill Ponts Green Aldrington Northiam Rye Jury's Gap Beddingham Duddleswell Beachlands Upper Wellingham Three Oaks Little Norlington Bulverhythe Wallcrouch Vinehall Street Gallypot Street Newbridge Pound Green Winchelsea Beach Sandy Cross Bishopstone Jumper's Town Wilmington Green Wood's Corner Golden Cross Butcher's Cross Wood's Green Broomham Terrible Down Lyewood Common Windmill Hill Portslade Village Upperton Peacehaven Heights Fairwarp Brighton Ewhurst Green Southover Wartling Thunder's Hill Park Corner Patcham Town Littleworth Ticehurst Punnett's Town Rose Hill Foulride Green Hellingly Ovingdean Downside Lidham Hill Chitcombe Highgate Boarshead Potter's Green Glenleigh Park Fletching Common Heathfield Ford's Green Mount Pleasant Wadhurst Norton Lower Dicker Bells Yew Green Silver Hill Flowers Green Tilsmore Etchingham Blackham Newick Sharpsbridge Cock Marling Pett Level Herstmonceux Stone Cross Whitehill North Moulsecoomb St John's Roedean Pell Green Catsfield Stream Broadland Row Coleman's Hatch Ashburnham Forge Crowborough Warren High Cross High Hurstwood Houghton Green Bodiam Beckley Sparrow's Green Chelwood Gate Nash Street Sedlescombe Lewes Ore Horam Old Town Baldslow West Marina South Chailey Old Town Maresfield Park Polegate Eridge Green Milton Street Streat Waldron Hove Collier's Green East Dean Buxted Wilmington Forest Row The Highlands Foxhunt Green Camber Mill Corner Friar's Hill Hadlow Down Jarvis Brook Stone Cross East Hoathly