Professional Company Accounts in Moor Hall

Get in touch

Company Accounting in Moor Hall

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 Moor Hall

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 B75 6

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 Moor Hall (West Midlands)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Barr Common Oldbury Sandwell Thimble End Lambert's End Hill Hook Monmore Green Sheldon Church Hill Bescot Middle Bickenhill King's Heath Edgwick Bournville Wall Heath Tettenhall Wood Carol Green Meer End Bournbrook Hampton in Arden Chad Valley Stivichall The Straits Stockland Green Merridale Bilston Shire Oak Griffins Hill Hockley Heath Princes End Newtown Brandwood End Summer Hill Colton Hills Golds Green Rowley Regis Brownhills Fallings Heath Wallington Heath Maney Pickford Hook End Woodcock Hill Ladywood Copt Heath Stone Cross Soho Pinley Bearwood Tipton Mayer's Green Old Swinford Middle Stoke Hill Top Wood Green Baptist End Lifford Tile Hill Deepfields Springfield Pleck Frankley Clayhanger The Woods Pendeford Packwood Handsworth Lutley Pinkett's Booth Toll End Doe Bank Walmley Caldmore Goscote Shirley Eve Hill Summerfield Park Finham Tividale Erdington Holbrooks Over Green Sedgemere Wednesbury Colehall Hall Green Digbeth Kineton Green Darlaston Green Knowle Grove Rumbush Packwood Gullet Benton Green Hawkes End Low Hill Lapal Oxley Bristnall Fields Charlemont Marston Green Gornalwood New Invention Northfield Londonderry Bromford Catherine-de-Barnes Willenhall Canley Old Hill Coundon Hart's Hill Great Heath Willenhall Wootton Green Whitehouse Common Dunstall Hill Park Village Newbolds Brown's Green Whitley Box Trees Solihull Lodge Small Heath Ruiton Rushall Stourbridge Primrose Hill Gosford Green Buckpool Eastcote Queslett Nechells Green Dorridge Sharmans Cross Gibbet Hill Moseley Grove Vale Bowling Green The Village Hasluck's Green Dudley Port Oakham Tollbar End Buckland End Lode Heath Perry Beeches Walsall Lozells Stow Lawn Causeway Green Woodsetton Wyken Amblecote Cheswick Green Shelfield Cheylesmore Warley Woods Cofton Common Goldthorn Park Woodside Bramford Turves Green Boldmere Manor House Wordsley Wood Hayes Yardley Wood Hasbury Gib Heath Upper Witton Stonebridge Falcon Lodge West Bromwich Lower Eastern Green Parkfield Hayley Green Kingshurst Pelsall Wood Roseville Round's Green California Churchfield Four Oaks Park Bradley Elmdon Heath Woods Bank Smethwick Gilbertstone Bromley Balsall Heath Chelmsley Wood Shenley Fields Birches Green Rowley's Green Langley Green Newton Four Oaks Birchfield Lower Bradley Lanesfield Springfield Rotten Row Beech Lanes Netherton Great Bridge Portobello Hateley Heath Stubber's Green Chadwick End Tettenhall Lyndon Green London Fields Lower Stoke Four Ashes Pensnett Rednal Brades Village Bentley Heath Fishley Hawne Sedgley Haden Cross Ashmore Park Shard End Harvills Hawthorn Wallbrook Stockfield Wollaston Black Lake Burnt Tree Wednesfield Ashmore Lake Radford Washwood Heath Potter's Green Roughley Moor Hall Brierley Hill Henley Green Fen End Grove End Little Heath Perry Barr Bushbury Palfrey Illshaw Heath Whitlock's End Winson Green Wake Green Binley Tat Bank Kitwell Fordhouses Sparkbrook Lower Gornal Hall Green Waring's Green Ettingshall Park Solihull Heath End Four Oaks Three Maypoles King's Hill Portway Castlecroft Billesley Salter Street Spring Hill Longford Highbridge Kitt's Green Pheasey Round Oak Stechford Barston Castle Bromwich Allesley Hockley Norton Green Walsal End Westcroft Darby End Brockmoor Stoke Aldermoor Church End Beechwood Blakenall Heath Bradmore King's Norton Selly Oak Bloxwich Tudor Hill Lower Illey Yardley Aldridge Flint's Green Oldwich Lane High Heath Springfield Stambermill Pype Hayes Daw End Heath Town Tile Cross Lodge Hill Wightwick Manor Halesowen Whoberley Woodway Park Newbridge Harvest Hill Bourne Vale Nechells Merry Hill Lime Tree Park Castle Vale Darley Green Selly Park Woodgate Minworth Tidbury Green Temple Balsall Cradley Heath Whiteheath Gate Streetly Foxford South Yardley Sparkhill Russell's Hall Hamstead Bacon's End Old Fallings Leamore Westwood Heath Horseley Heath Sutton Coldfield Ten Acres Wolverhampton The Lunt Hodgehill Lane Head Rubery Hill Wood Claregate Upper Gornal New Town Ocker Hill Balsall Common Spon End Harborne Stoke Balsall Moor Green Shirley Heath Foleshill Brownshill Green Ley Hill Bell Green West Heath Watford Gap Kingswinford Saltley Berkswell Fordbridge Hay Mills Walsall Wood Little Bloxwich Priestfield Cotteridge Gravelly Hill Little Bromwich Moxley The Delves Kirby Corner Tyburn Edgbaston Short Heath Perry Cinder Hill Bordesley Coal Pool Bartley Green Lee Bank Acock's Green Reddicap Heath Birmingham Catchems Corner Stoke Heath Garrets Green Darlaston Rood End The Knowle Ward End Penn Yew Tree Catshill Birchills Monkspath Walsgrave on Sowe Aston Earlsdon Leighswood Swan Village Dudley's Fields Wollescote Mere Green Wednesbury Oak Hawkesley Alderman's Green Wood End Bradnock's Marsh Hall Green Witton Balsall Street Dudley Quarry Bank Ettingshall Alcester Lane's End Coseley Tyseley Reeves Green Belle Vale Whitmore Park Compton Longbridge Hardwick Handsworth Wood Scotlands Norton Short Heath Worlds End Guns Village Quinton Ridgacre Friar Park Pelsall Lea Hall Upper Eastern Green Woodgate Valley Bordesley Green Ulverley Green New Town New Oscott Warstock Withymoor Village Weoley Castle Perry Common Upper Stoke Blossomfield Tower Hill Vigo Chapel Fields Cradley Illey Lodge Green Wylde Green Elmdon Darby's Hill Meriden Pickford Green Kates Hill Eaves Green Hillfields Holly Bank Moseley Langley Highgate Walker's Heath Banners Gate Tipton Green Tilehouse Green Bickenhill Court House Green Great Barr Coombeswood Dudley Wood Rotton Park Coventry Dickens Heath Billesley Common Blakenhall Bloomfield Balls Hill Stirchley Highter's Heath Kingstanding Knowle Green Lane Silver End Palmers Cross Overend Hollyberry End Hill Wood End Mushroom Green Vauxhall The Chuckery Short Cross Pedmore Hurst Hill Stockwell End Bentley Lye Keresley Tansley Hill Mesty Croft Harden Vale, The Blackheath Alum Rock Hillfield Wergs Hurst Green Olton