Professional Company Accounts in Wyke

Get in touch

Company Accounting in Wyke

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 Wyke

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 GU3 2

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