Professional Company Accounts in Steven's Crouch

Get in touch

Company Accounting in Steven's Crouch

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 Steven's Crouch

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 TN33 9

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