Professional Company Accounts in Moorend

Get in touch

Company Accounting in Moorend

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 Moorend

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 SK6 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 Moorend (Greater Manchester)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Crimble Woodgate Hill Brooklands Rakewood Fullwood Withington Baguley Boothstown Standish Lower Ground Woodhouses Hawkshaw Baldingstone Wingates Pennington Green Littlemoss Black Lane Dunscar Lane Ends Walkden Harrop Dale Ridge Hill West Didsbury Broadfield Gravel Hole Longsight Johnson Fold Hathershaw Haugh Langley Reddish Shaw Side Kirkhams Fitton Hill Pocket Nook Cooper Turning Mill Hill Moses Gate Gorton New Delph Fernhill Watersheddings Chorlton-cum-Hardy Burnage Heaton Mersey Lamberhead Green Northenden Wallsuches Harper Green Pennington Springhead Godley Moorend Alt Hill Grotton Jericho Highfield Daisy Hill Mossley Carr Shevington Moor Bredbury Green Darn Hill Marylebone Crompton Fold Higher Blackley Brindle Heath Thornham Fold Strangeways Atherton Mottram Rise Droylsden Hyde Higher Boarshaw Low Crompton East Didsbury West Gorton Adswood Wood Road Chadderton Pendleton Horwich Davenport Green Scholes Little Bolton Irlams o' th' Height Belfield Denshaw Roe Cross Hunger Hill Heald Green Salford Marsh Green Plank Lane Carrbrook Chew Moor Ashley Heath Platt Bridge Rain Shore Brownlow Fold Wardley Broadheath Highfield Mill Brow Barrow Bridge New Moston Dearnley Hazelhurst Irlam Monton Sharston Sale Greenside Cherry Tree Halliwell Woodhouse Park Thorp Cheadle Hulme Landslow Green Eagley Moorside Clifton Junction Ordsall Bredbury Hurst Lowton Orrell Post Dobcross Sharples Ancoats Shevington Limefield Copley Red Rock Newhey Little Clegg Scot Lane End Bentgate Foggbrook Darcy Lever Ashton-Under-Lyne Hag Fold Smallshaw Heights Carrington Gee Cross Bamfurlong Gatley Birch Ramsbottom Doffcocker Newtown Chadkirk Lime Side Heyheads Middleton Junction Turf Hill Rhodes Brushes Higher Folds Higher Broughton Kingston Stoneyfield Belle Vue Well Green Northern Moor Trafford Park Clayton Far Moor Oldham Edge Copster Hill Great Moor Hattersley Affetside Greenheys Four Gates Marple Bridge Holden Fold Shaw Nob End Holcombe Brook Durn Kitt Green Heaviley Cale Green Luzley Brook Tyldesley Woolley Bridge Lever-Edge Golborne Whitefield High Crompton Heaton Chapel New Bury Catley Lane Head Land Gate Barton Upon Irwell Warburton Ley Hey Park Bromley Cross Bryn Cadishead Rainsough Sudden Cheadle Heath Glodwick Shore Lowton Heath Marsland Green Pobgreen Debdale Dunham Woodhouses Busk Limehurst Astley Green Bunkers Hill Gorse Hill Sunny Bank Moston Haggate Great Howarth Lower Broughton Daisy Nook Heady Hill Hilton Park Timperley Gillbent Stepping Hill Swinton Park Spotland Bridge Tame Water Levenshulme Boar's Head Broadoak Park Lark Hill Stanycliffe Firwood Fold Lowton St Mary's Dale Newall Green Cutgate Summit Markland Hill Compstall Heaton Norris Grains Bar New Springs North Reddish Hindsford Newton Heath Lowton Common Little Moor Woodlands Prestolee Poolstock Brook Bottom Ashton-in-Makerfield Dukinfield Free Town Openshaw Ellesmere Park Parr Brow Westhoughton Gigg Rochdale Lower Green Hawk Green Roe Green Burnden Clarksfield Taunton Bottom o' th' Moor Holts Balderstone Torkington Castleton Cheadle Fishpool Didsbury Wardle Firgrove Heaton Walmersley Montcliffe The Hague Newtown Bardsley Chequerbent Nangreaves Bank Lane Old Trafford Diggle Heywood Stand Heyrod Firswood Great Lever Little Lever Hale Barns Wood End Fallowfield Warhill Egerton Hawkley Pimhole Knott Lanes Austerlands Mudd Arden Park Gilnow Broadhalgh Mellor Sedgley Park Hooley Bridge Seedley Dog Hill Standish New Houses Woodford Waterloo Astley Bridge Carr Green Werneth Hollingworth Marple Town of Lowton Hill Top Greenfield Buersil Head Crowhill Altrincham Barlow Moor Hazelhurst Rosehill Pitses Deane Peel Green Toppings Whelley Uppermill Wolstenholme Godley Hill Spring Hill Tonge Moor Urmston Bradshaw Nimble Nook Haughton Green Mossley Brow Moorclose Heaton Moor Higginshaw Willows Springfield Fern Bank Littleborough Wigan Beswick Chesham Calderbrook Hurstead Little Scotland Worsley Hall Greengate Honresfeld Slackcote Woolfold Matley Patricroft Bank Top Ringley Audenshaw Heyside Shuttleworth White Gate Bagslate Moor Denton Ashton Upon Mersey Bolton Miles Platting Edge Fold Crumpsall Abbey Hey Thurston Clough Stalybridge Long Sight Elton Lees Bowlee Greenmount Alkrington Garden Village Backbower Collyhurst Oldfield Brow Halfway Houses Hall i' th' Wood Broughton Park Hollins Lostock Junction Moss Nook Dumplington Tottington Kirkholt Blackmoor Bleak Hey Nook Oldham Stockport Bramhall Park Gathurst Hart Common Charlestown Little Hulton Edgeley Castle Hill Roaches Scouthead Shawfield Summit Lilford Westleigh Greenacres Wilderswood Besses o' th' Barn Four Lane Ends Mossbrow Healds Green Grasscroft Hollins Sun Green Howe Bridge Roebuck Low Lane Head Wall Hill Top o' th' Meadows Whalley Range Horrocks Fold Micklehurst Woodhey Alder Forest Strines Quick Aspull Common Newbold Swinton Warburton Green Unsworth Outwood Harwood Lee Hooley Brow Syke Worsley Pemberton Whitley Smithy Bridge Holcombe Redvales Starling The Bell Kersal Moss Side Lady House Stanley Green Top of Hebers Worsley Mesnes Astley Wood End Tamer Lane End Manchester Hartshead Pike Hopwood Bramhall Lydgate Hollins Werneth Low Blackley Roundthorn Ardwick Dover Portwood Trub Town Green Buckton Vale Chadderton Fold Failsworth Bowgreen Marland Simister South Reddish Windlehurst Town Lane Hindley Green Kearsley Fernhill Gate Park Bridge Lower Bredbury Birtle Bury Bradford Norbury Moor Hindley Crankwood Partington Over Hulton Orrell Smithy Green Higher Green Harwood Longshaw Winstanleys Prestwich Mosley Common Bickershaw Acre Hazelhurst Water's Nook Coppice Shaw Heath Running Hill Head Hazel Grove Healey Davyhulme Smallbridge Caldermoor Marpleridge Higher End Bryn Gates Benchill Flixton Beech Hill High Lane Dales Brow Stretford Burnedge Linnyshaw Woodley Radcliffe Stake Hill Wythenshawe Hulme St George's Tunshill Kirklees Leigh Woods Moor Dunham Town Goose Green Pendlebury Fairfield Crofts Bank Middleton Peel Hall Top Lock Millbrook Moorhey Hollinwood Rough Bank Daubhill Brinnington Lower Place Woods End Shevington Vale Clough Stubshaw Cross Kitt's Moss Farnworth Aspull Harpurhey Bamford Edge Green Winton Old Tame Charlestown Luzley Newton Wood Dane Bank Hale Greave Breightmet Rose Hill Ainsworth Side of the Moor Clough Blackrod Slattocks Weaste Guide Bridge Cox Green Ince in Makerfield Rusholme Abram Tonge Fold Summerseat Westwood Park Chapel Field Dimple Hartshead Green Flowery Field Woodhouses Pickley Green Walshaw Broadbottom Shakerley Norden Bolholt Cinder Hill Bedford Brooksbottoms Davenport Brunswick Nuttall Tunstead Gale Yew Tree Bramhall Moor Moorside Sinderland Green Hooley Hill Clifton Linfitts Summit Firs Lane Bradley Fold Lostock Heap Bridge Quick Edge Crooke Offerton Green Oak Bank Hilton House Shawclough Romiley Mumps Dangerous Corner Blackford Bridge Red Lumb Haigh Offerton Alt Sholver Winstanley Jubilee Captain Fold Royton Eccles The Banks Fairfield Milnrow Flixton Newton Bowdon Cheetham Hill Clifton Green Delph Lower Kersal Stoneclough Buckley Mottram in Longdendale