Professional Company Accounts in Acton Green

Get in touch

Company Accounting in Acton Green

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 Acton Green

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 WR6 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 Acton Green (Herefordshire)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Bredenbury Orleton Birchend Newman's Place Pow Green Bacton Berrington Green Kingsfield Grove Priory Wood Ganarew Much Birch Dinedor Stoneyard Green Lower Breinton Didley Wormbridge Paradise Green Tumpy Lakes Middleton on the Hill Common Hill Colwall Green Kingstone Sarnesfield Colwall Colwall Stone Portway Bartestree Collington Luston The Bage Checkley Thruxton Upper Maes-coed Yatton Berrington Blackmarstone Walford Marlas Wootton Upper Hamnish Clifford Bishopstone Coddington Shobdon Red Hill Burrington Woods Eaves Brinkley Hill Wootton Uphampton Westhope Upcott Venn's Green Combe Treaddow Ross-on-Wye Leintwardine Evesbatch Birtley Ocle Pychard Little Marcle Crow Hill Aylestone Hill Newton Bowley Lane Woolhope Cockshoot Bycross Grendon Bishop Churchfield Snodhill Shirl Heath Brobury White Cross Lulham Moreton Penguithal Warham Woonton Cobnash Calver Hill Lower Broxwood Cock Gate Llangrove Merrivale Lower Welson Wayend Street Monnington on Wye Altbough Lower Hergest Sutton St Michael Sugwas Pool Brampton Abbotts Kerne Bridge Wellington Heath Mathon Llangarron Credenhill Merbach Byford Common Crozen Docklow Shenmore Tedstone Delamere Eyton Cobhall Common Bishops Frome Upper Breinton Kimbolton Stoke Edith Michaelchurch Cleaver, The Llanveynoe Bromyard Wilson Upper Town Foxley Green Lane Grittlesend Kington Highway Storridge Pudleston Ledbury Perrystone Hill Grantsfield Edvin Loach Withington Netherton Comberton Brampton Bryan Kenchester Eau Withington Stretford Court Rodd Vowchurch Ivington Larport Hereford Shelwick Green Elms Green Bolstone Westhide Staplow Barons' Cross Lea Peterstow Buckton Lyonshall Hoarwithy King's Thorn Cockshoot Upper Dormington White Rocks Yarkhill Edwyn Ralph Stretton Grandison West Lydiatt Stretford Rushock Pembridge Wyson Easthampton Broad, The Yarsop Hurstley Brimfield Cross Llyde Leinthall Earls Even Pits Elsdon Eye Letton Stapleton Pool Head Stoke Prior Peterchurch Lower Harpton Bush Bank Greytree Orcop Upper Sapey Ballingham Hill Holme Marsh Stanford Bishop Eastwood Ladyridge Staunton on Arrow Whitney-on-Wye Brockmanton Dorstone Weaven, The Fawley Chapel The Rhydd Aston Hillhampton Peartree Green Callow Sutton Lakes Phocle Green Combe Moor Knapton Green Upper Grove Common Ashton Green Crize Hardwicke Bagwyllydiart Bringsty Common Dormington Lower Southfield Litmarsh Coxall Adforton Whitton Bleak Acre Holywell Hill Gate Linley Green Wynn's Green Stocking Castle Frome Risbury Winforton Pencraig Lower Town Whitechurch Maund Kentchurch Putley Common Pen-allt Ashfield Canon Bridge Stony Cross Newtown Stansbatch High Lane Mordiford Eardisland Perton Orcop Hill Lea Line Fine Street Much Cowarne Richards Castle Canon Frome Kingswood Putley Green Little Birch Burcher Upper Kinsham Bircher Swinmore Common Twyford Common Yarpole Amberley Linton Hill Lyne Down Portway Croft Marston Ashperton Upper Hardwick Bromyard Downs Fox Hill Tarrington Common Ford Veldo Waller's Green King's Caple Almeley Wootton Crumpton Hill Tupsley Hinton Michaelchurch Escley Broad Oak Tretire Kymin Kingsland Moorcot Wofferwood Common Bradlow Llanwarne Bodenham Bank Forge, The Field Moreton Jeffries West Town Brinsop Ballingham Lugg Green Upper Colwall Durlow Common Hope under Dinmore Turnastone Lower Grove Common Sapey Bridge Auberrow Burley Gate Bullinghope Lucton Wynds Point Stoke Hill Little Hereford Howton Westbrook Eardisley Walterstone Lower Buckenhill Brilley Munstone Clehonger Little Tarrington Bodenham Breinton Common Woonton Broomy Hill Aston Crews Bradnor Green Lugwardine Cross Keys Mansell Gamage Upper Broxwood Aulden The Knapp Tedstone Wafer Little Hill Fromington Yazor Penrhos Leominster Bredwardine Sellack Boat Hope Mansell Elton's Marsh Batchfields Kynaston Harewood End Walker's Green Brand Green Llancloudy Brockhampton Meer Common Callow Hill Burghill Weston under Penyard Acton Green Sellack Marlow Felton Franklands Gate Little Dewchurch Monkhide Three Ashes Marlbrook Old Gore Bowley Town Upton Bishop Leysters Bearwood Hungerstone Stockton Ebnall Symonds Yat Barton Court Lower Maes-coed Moors, The Archenfield Wood End Enmore Field Birchall Ludstock Newtown Lawton Holme Lacy Loxter Crizeley Weston Beggard Pipe Aston Stretton Sugwas Wilton Wolferlow Lower Burton Evendine Haven Old Forge Lingen Eign Hill Walford Newton Clock Mills Aston Ingham Chickward Tyberton Wylde Hyde Riddle, The Aymestrey Covender Ham Green Hagley Cornett Sutton Marsh Little Gorsley Cusop Rudhall Marstow Arrow Green Rotherwas Garway Foy Middle Maes-coed Byton Monmarsh Five Bridges Tarrington Tidnor Preston Wynne Baysham Kerry's Gate Bull's Hill Byton Hand Holmer Upper Lyde Almeley Poolmill Bartonsham St Margarets Monkland Stony Cross Dinedor Cross Wymm, The Golder Field Hatfield Westfields Much Marcle Hampton Park Elton Kilpeck Longtown Tram Inn Woolhope Hope's Rough Bridstow Humber Welsh Newton Hundred, The Burmarsh Hales Wood Byford Steen's Bridge King's Pyon Upton Crews Hom Green Blakemere Brierley Preston on Wye Glewstone Staunton on Wye Grafton Bodenham Moor Kinnersley Ewyas Harold Vowchurch Common Haven Huntington Kiln Green Pontrilas New Mills Grendon Green Parton Gorsley Common Hawkersland Cross Lower Hardwick Nash Clodock Ruckhall The Fording Newton Halmond's Frome Wormelow Tump Field's Place Callow Marsh Sollers Hope Totnor Beggars Ash Nextend Willersley Ruxton Cockyard Letton Dodmarsh Stoke Lane Upper Hill Rhydspence Golden Valley Much Dewchurch Hamnish Clifford Whitchurch Ledicot Whyle Tillington Common Weobley Moor Park Wormsley Parkway Stoke Cross Weston Abbey Dore Acton Beauchamp Cradley Hildersley Dancing Green Great Doward Rowland's Green Ryelands Pikestye Crossway Ullingswick Old Country Middleton Gosford Putley Cholstrey King's Acre Catley Southfield Swainshill Norton Canon Sallys Upper Hergest Panks Bridge Red Rail Eaton Bishop Upper Egleton Bromsash Eastnor Lane End Moorhampton White Stone Fiddler's Green Rushall Bringewood Forge Urdimarsh Meadow Green Moorend Cross Canon Pyon Winnal Common Crocker's Ash Lower Lye Fromes Hill Saffron's Cross Millhalf Ridgeway Cross Dilwyn Widemarsh Shutton Stagbatch Stoke Lacy Lower Egleton Stanley Hill Sutton St Nicholas Trumpet Mansel Lacy Putson Little Doward Lower Kinsham Moreton on Lugg Maund Bryan Limebrook Hole-in-the Wall Wigmore Blacklands Birley Floodgates Lower Todding Pencombe Kivernoll Knill Clouds Brelston Green Linton Headbrook Thornbury Bridge Sollers Huntington Pontshill Sapey Common Coughton Chance's Pitch Beavan's Hill Munsley How Caple Pixley Bishon Common Ashley Moor Whitbourne Craswall Nutfield Wharton Hales Bank Kingstone Clencher's Mill Bridge End Madley Stowe Weobley Marsh Marden Lyde Cross Tudorville Allensmore Gilfach Mortimer's Cross Greenhill Eaton Bosbury Tillington Bicton Newton Rodd Hurst Goose Pool Little Cowarne Turkey Tump Sunset Hunderton Fownhope Wacton Falcon Shelwick Broadmoor Common Brinsop Common Garway Hill Flintsham Preston Marsh Little Merthyr St Weonards Marston Stannett Welsh Newton Common Carey Leys Hill Flaggoners Green Wormbridge Common Winnal Orleton Common Leinthall Starkes Vauld, The Munderfield Stocks Alder's End Bowley Aylton Prior's Frome St Owen's Cross Horseway Head Pipe and Lyde Pen-y-Park Goodrich Old Wharf Upper Buckenhill Hampton Bishop Munderfield Row Upper Lye Broadway Lands Strangford Wellington Kinton Marsh, The Crick's Green Hopley's Green Lower Bullingham Moccas Norbridge Barnfields Ruxton Green Titley Lower Bearwood Shucknall Rowlestone Upper Welson Sollers Dilwyn Westfield