Professional Company Accounts in Horsell Birch

Get in touch

Company Accounting in Horsell Birch

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 Horsell Birch

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 GU21 4

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