Professional Company Accounts in Ashurst Wood

Get in touch

Company Accounting in Ashurst Wood

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 Ashurst Wood

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 RH19 3

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 Ashurst Wood (Surrey)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Oxshott Limpsfield Common Warlingham Upper Hale Crossways Wasp Green Aaron's Hill Eashing Woolmer Hill Clark's Green Ewell Weybourne Frimley Ridge Badshot Lea Outwood Burpham Cox Green Holmbury St Mary Jacobs Well Coldharbour Church Town Ansteadbrook Egham Hythe Crowhurst Lane End Send Hambledon Fickleshole East Clandon Lingfield Common Charlton Little Bookham Knaphill Ash Vale Dunsfold Common Haslemere Miles Green Ridge Green May's Green Rose Hill Parkgate Pirbright Abbey Mead Upper Ifold Palmers Cross Enton Green Woodhatch Millbridge Compton Tongham Woodbridge Hill Fredley Fetcham Limpsfield Spreakley Chilworth Merstham Coles Meads Tadworth Brick Hill Epsom Bishopsgate Littleton Wray Common Shortheath Critchmere Felcourt Mimbridge Lordshill Common Peaslake Littleton Tilford Loxhill East Horsley Seale Longcross Frensham Englefield Green York Town Green Cross Bletchingley Burstow Shalford Fox Corner Little Heath Bagshot Heath Newchapel Farnham Claygate Binscombe Strood Green The Wells Prey Heath Hale Dockenfield Netherne on-the-Hill Rowhill Norney Westhumble Weatherhill Hersham Woking Brockham Hindhead Pitch Place Egham Hog Hatch Send Marsh Reigate Heath Bellfields Addlestone Forest Green Langley Vale Dunsfold Redhill Box Hill Giggshill Pyle Hill Hurst Green Culmer Bridge End Littleton Common Sidlow West Byfleet Lucas Green Hydestile Pyrford Charlwood Ashurst Wood Wotton Moorhouse Bank Mytchett West Clandon Nork Moor Park Burgh Heath Givons Grove Ockford Ridge Lower Ashtead Bushbury Slyfield East Ewell Ewhurst Ewhurst Green Chiddingfold Esher Ockham Peasmarsh Frimley Park Barn Merrow Bramley Tilford Reeds Brook Domewood Farleigh South Nutfield Artington Newlands Corner Rydeshill Grayswood Tyler's Green Deepcut Polesden Lacey Whitebushes Pot Common Norley Common Holmethorpe Godstone Lower Halliford Hookwood Ellen's Green Ashford Common Brook Oatlands Park Mogador New Haw Worplesdon Langley Hook Heath Friday Street West End Beare Green Okewood Hill Ash Tyrell's Wood Caterham Shackleford Mayes Green Sunbury Hoe Deepdene South Merstham Leatherhead Common The Bourne Heatherside Burrows Cross Ashtead Rowly Brooklands Haxted Frimley Green St George's Hill Mid Holmwood Broadmoor Ottershaw Laker's Green Byfleet Tuesley Banstead Alfold North Holmwood Crawley Hill Dawesgreen Horsell Buckland South Park Thames Ditton Ramsnest Common Sunbury Common Wyke Pains Hill Great Bookham Hurtmore Farley Green Crownpits West Molesey Abbotswood Lingfield Rushmoor Woldingham Chertsey Meads Merle Common Shipley Bridge North Looe Chobham Mount Hermon Bushy Hill Albury Heath Knowle Hill Windlesham Mousehill Mytchett Place Brook Place Bagshot Woodcote Boundstone Combe Common Holmwood Corner Thorncombe Street Farleigh Court Pitch Place Guildford Wonersh Westcott Milford Willey Green Horsell Birch Wormley Crosswater Chaldon Staines Dormansland Bunce Common Pyrford Green Pirbright Camp Witley Elm Corner Nalderswood Brookwood Beacon Hill Felthamhill Runfold West Horsley Littlefield Common Sandhills St Johns Hinchley Wood Elstead Nutcombe Stoke D' Abernon Sandy Cross Cramhurst Westbrook Trumps Green West End Woldingham Garden Village Shepperton Green Tatsfield Downside Fairlands The Downs Stoneleigh Russ Hill Hatton Hill Hooley Thursley Walton on the Hill Lower Green Shellwood Cross Albury South Earlswood Titsey Virginia Water Gatton Laleham Shottermill Sutton Green Cranleigh Shrubs Hill Rydens Chertsey Doversgreen Castle Green Hurst Park Burwood Park Godalming Stanwell Moor Paynes Green Povey Cross Flexford Busbridge Hawk's Hill Crowhurst Camberley Stonehill Churt Upper Halliford Ockley Shepperton Whyteleafe Pachesham Park Alfold Crossways Middle Bourne Waterside Thorpe Green Walliswood Earlswood Shamley Green Farncombe Smallfield Shortfield Common Ranmore Common Sheets Heath Salfords Row Town Egham Wick Grafham Logmore Green Cobham Margery Wood Street Village Charleshill West Ewell Weston Green Broadford Abinger Hammer Westfield Felbridge Gomshall Irons Bottom Pixham Dorking Wanborough Mickleham Newdigate Burntcommon Chipstead Wisley Mead Vale The Sands Blindley Heath Brockham Park Pyrford Village Rowledge Tower Hill Stroude Tandridge Dunsfold Green Nutfield Brewer Street Leigh Abinger Common Peartree Green Old Woking Kingswood Thorpe Warwick Wold Upper Eashing Hamm Moor Highstreet Green Shere Lower Kingswood Normandy Ash Green South Holmwood Lane End Horne Ridgway Addlestonemoor Stanwell Martyr's Green Dippenhall Long Ditton Stonebridge Stroud Wheelerstreet Bisley Stanners Hill Ashley Park Chelsham Church End Woodmansterne Limpsfield Chart Lower Bourne Heath End Send Grove Cooper's Hill East Molesey Hamsey Green Shepherd's Hill Hythe Woodham Cudworth Burrowhill Compton Cartbridge Lightwater Walton-on-Thames Broadham Green Catteshall Holland Chattern Hill Whitfield Court Bisley Camp (National Shooting Centre) Bowlhead Green Horley Ashford Mugswell Guildford Park Birtley Green Thorpe Lea Gadbrook Donkey Town Ripley South Godstone Maybury Knowle Green Oxted Puttenham Tilford Common Dormans Park Sheerwater Hascombe Meath Green Betchworth Holloway Hill West Bedfont Capel Onslow Village Wrecclesham Reigate Field Common Mayford Sutton Abinger Effingham Norwood Hill Whiteley Village Stoughton Blackbrook Downside Claremont Park Weybridge Peper Harow Kingfield Leatherhead West End Fairmile Headley Frith Hill