Professional Company Accounts in Carlton

Get in touch

Company Accounting in Carlton

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 Carlton

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 CV13 0

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 Carlton (Leicestershire)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Newton Harcourt Arnesby Claybrooke Parva Atterton The Woodlands Gaulby Anstey East Langton Coston Donington le Heath Blackfordby Barkestone-le-Vale Birstall Stoney Stanton Packington Outwoods Shearsby Groby Ashby Parva South Kilworth Wymondham Billesdon Kirkby Mallory Rotherby Mowsley Willoughby Waterleys Normanton Merry Lees Glen Parva Hinckley Catthorpe Hoby Fenny Drayton Lockington Sibson Stoughton Cadeby Lubenham Littlethorpe Rothley Leire Whetstone Oadby Saxelbye Sewstern Wigston Parva Great Bowden Kirby Fields Blaby King's Norton Claybrooke Magna Newbold Heath Eaton Barwell Ratby Kibworth Harcourt Elmesthorpe Mowmacre Hill Dishley Gumley Loddington Knipton Newton Burgoland Husbands Bosworth Dunton Bassett Shackerstone Hollycroft Tur Langton Gelsmoor Burton Overy Horninghold Sileby Snibston Wistow Ringing Hill Barkby Wigston Quorn or Quorndon Sheepy Magna Hugglescote Eyres Monsell Marefield Thornton Appleby Magna Mountsorrel Potters Marston Knaptoft Stoneygate Carlton Battram Skeffington Narborough Hose Saddington Ravenstone Cold Newton Newbold Far Coton Glenfield Church Langton Evington Castle Donington Wanlip Great Dalby Coleorton Moor Ratcliffe Culey North Kilworth Asfordby Walton on the Wolds Brascote Bescaby Peggs Green Stockerston Quorndon or Quorn Tonge Upper End Thurlaston Syston Willesley Peatling Magna Old Dalby Odstone Spring Cottage Asfordby Hill Kirby Bellars Kilby Bridge Peatling Parva Allexton Buckminster Whitwick Nailstone Harby Prestwold Westcotes Broughton Lodges Branston Harston Enderby Braunstone Town The Brand Nether End Shenton Aylestone Park Higham on the Hill Rothley Plain Edmondthorpe Copt Oak Pinwall Twyford Frolesworth Dadlington Earl Shilton Redmile Carlton Curlieu West Langton Oakthorpe Stanton under Bardon Barsby Ab Kettleby Halstead Scotland Ashby Magna Eastwell Normanton le Heath Market Overton Houghton on the Hill Western Park Welham Witherley Loughborough Cotes Frisby on the Wreake Brentingby Wigston Magna King's Mills Bringhurst Burton on the Wolds Shangton Shellbrook Hunt's Lane Highfields Wartnaby East Goscote Long Clawson Bilstone Fleckney Pickwell Knossington Ellistown Hemington Croxton Kerrial Ibstock Theddingworth Leesthorpe Sketchley Drayton Rushey Mead Bardon Stathern Barton in the Beans Coalville Wilson Belcher's Bar Thurcaston South Croxton Woodhouse Eaves Burrough on the Hill Upton Belton Bushby Barkby Thorpe Osgathorpe Foxton Moira Holwell West End New Parks Plungar Desford Six Hills Oaks in Charnwood Woodhouse Misterton Bufton Heath End Diseworth Farm Town Orton-on-the-Hill Wyfordby Shepshed Potter Hill Keyham Thorpe Arnold South Wigston Hallaton Kibworth Beauchamp Cossington Barlestone Tilton on the Hill Belgrave Tugby Markfield Saxby Stretton en le Field Spinney Hills Melton Mowbray Newtown Linford Nether Broughton Agar Nook Slawston Hoton Smockington Heather Scraptoft Leicester Forest East Gaddesby Croft Isley Walton Upper Bruntingthorpe Congerstone Owston Thorpe Acre Peckleton Worthington Cavendish Bridge Teigh Swepstone Walcote Bruntingthorpe Sproxton Sharnford Ashby Folville Hungarton Kimcote Little Bowden Thringstone Stapleton Kirby Muxloe Aylestone Grimston Walton Smeeton Westerby Freeby Wycomb Lutterworth Clipsham Thrussington Wykin Bagworth Humberstone Donisthorpe Hathern Gilmorton Cold Overton Church Town Rolleston Rearsby Beaumont Leys Sutton Cheney John O'Gaunt Saltby Waltham on the Wolds Shelthorpe Field Head Queensway Old Dalby Great Glen South Knighton Long Whatton Scalford Kegworth Wellsborough Measham Laughton Knighton Fields Shoby Belvoir Greenhill Countesthorpe Cropston Scotland Swinford Goadby Marwood The Cross Hands North Evington Cranoe Blaston Bottesford Ragdale Griffydam Little Twycross Sutton in the Elms Aston Flamville Illston on the Hill Seagrave Ratcliffe on the Wreake Somerby Sheepy Parva Swannington East Norton Market Harborough Chilcote Normanton Turville Woodthorpe Albert Village Nanpantan Burbage Barrow upon Soar Wymeswold Lount Bitteswell Osbaston Hollow Bondman Hays Brooksby Clarendon Park Botcheston Norris Hill The Valley Knighton North End Coleorton Market Bosworth Queniborough Thurnby Thorpe Satchville Breedon on the Hill Great Easton Care Village Newbold Verdon Muston Frisby Osbaston Goadby Red Hill Nether Hall Ratcliffe on Soar Thorpe Langton Swithland Glooston Lowesby Appleby Parva New Swannington Beeby Cosby Primethorpe Kilby Thurmaston Stonton Wyville Chadwell Ullesthorpe Crown Hills Money Hill Little Stretton Sapcote Huncote Norton-Juxta-Twycross Stoke Golding Twycross Easthorpe Foston Stapleford Medbourne Broughton Astley Newtown Unthank Garthorpe Burton Lazars Stonesby Ashby-de-la-Zouch Little Orton Wigston Magna Great Stretton Noseley Leicester Little Dalby Newbold Shawell Cotesbach Snarestone