Professional Company Accounts in Durleighmarsh

Get in touch

Company Accounting in Durleighmarsh

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 Durleighmarsh

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 GU31 5

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 Durleighmarsh (West Sussex)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Donnington Wepham Copsale Heath End Ingrams Green Selsey Hangleton Billingshurst Henley Rock East Grinstead Fernhill Broomer's Corner Twineham Dial Post West Burton South Bersted Graffham Bosham Midhurst Treyford Fisherstreet West Kingston Staplefield Navant Hill East Harting Terwick Common Goose Green North End Watersfield Littlehampton Bepton East Marden Burgess Hill Steyning West Grinstead Tilgate Forest Row Queen's Corner Rackham Littleworth North Stoke Goring-by-Sea West Dean Lower Horncroft Gay Street Merston Stopham Woodmancote Quebec Cross Gate Topleigh Walstead Rusper Hillgrove Southwick Sidlesham Common Hooksway Dragons Green Manor Royal Minsted Southwater Hoyle Upper Beeding Duncton Cocking Doomsday Green Storrington Worth Abbey Heath Common Ferring Compton World's End Walberton Amberley East Beach Elsted Bosham Hoe Felpham Crawley Rapkyns Keymer Cootham Durleighmarsh Fishersgate Marehill Fulking North End Dial Green Inlands Trotten Marsh Lickfold Bignor Eastergate Turners Hill Lodsworth Pulborough Ashfold Crossways Mackerel's Common Brookpits Sutton Kingsfold West Itchenor Salvington Broadbridge Heath Bewbush Crabbet Park Broadwater Plaistow White's Green Rudgwick Horsham Bolnore Portfield Norton Petworth Small Dole Tullecombe Broadfield Lower Beeding Ifieldwood Sidlesham Henley Common Coldwaltham High Salvington Hill Top Green Street South Stoke Monk's Gate South Ambersham Hermitage Lidsey Sullington Warren Elmer Deanlane End Westergate Smock Alley Northgate Balls Cross South Harting Somerley Gospel Green Strettington West Tarring Broomershill Chithurst Aldwick Birdham Upwaltham West Hoathly Borden Whitemans Green Nyewood Westerton Gorehill Beggars Bush Ardingly Scayne's Hill Yapton Patching Thorney Island Wiggonholt Heyshott Green Lumley Southgate Brook Street Wardley Poynings Loxwood Cowfold Rogate Black Corner West Wittering Coates Gossops Green West Town Furnace Wood Manor, The Lagness Smithbrook Shoreham Beach Pyecombe Old Shoreham Hammerpot Aldingbourne West End Nep Town Durrington Stoughton Shopwyke Clapham Park Street East Kingston Kirdford Alfold Bars Burndell River Poling Nutbourne Common The, Close Milland Hurst Wickham Nuthurst Ancton East Wittering Arundel Bines Green Goddards' Green Cocking Causeway Tote Hill Quags Corner Sompting Abbotts Robins Strood Green Lyminster Tangmere Rose Green Habin Shipton Green Strood Green East Dean Kingston by Sea Maudlin North Mundham Southwater Street Bilsham Dumpford Roundstreet Common South Lancing New Town Horsemere Green West Hill Poling Corner Bury Copthorne Highbrook Breach Woodmansgreen Crouchers Maidenbower Chidham Kent Street Summersdale East Preston Lowfield Heath Three Bridges Tilgate Pagham Easebourne Ifield Twineham Green Tortington Bramber Colgate South Mundham Woodmancote Atherington Haywards Heath Little Bognor Shopp Hill Adversane Sharpthorne Hambrook Stedham Kingston Gorse Clayton Bedlam Street Redford Rotherbridge Tinsley Green Cote Middleton-on-Sea North End Buchan Hill Fishbourne Stockbridge West Stoke Titty Hill East Lavington Broadford Bridge Ford Findon Valley Hampers Green Coombes Henfield Lancing West Lavington Thakeham Elmers Marsh Whitehall Up Marden Didling Shipley Dell Quay Slaugham Coolhurst Wood East Hampnett Warminghurst The Haven Rustington Halfway Bridge High Cross Houghton Chownes Mead Climping Madehurst Kingsley Green Crossbush Edburton Durrington-on-Sea Sta Charlton Botolphs Wick Elbridge Fernhurst Heyshott Five Oaks Two Mile Ash Hassocks Eartham Upper Wardley Lindfield Fyning West Chiltington Common Ashington Saxby Fontwell Horsted Keynes Tisman's Common Pease Pottage Abbotsford Sayers Common Maplehurst Portslade-By-Sea Hole Street Pound Hill Sompting Tower Hill Halnaker Roffey Newpound Common Balcombe Bury Hollow Down Park Walderton Offham Ashurst East Worthing Oakhill Abingworth Lurgashall Street End Chorley Common Shripney Albourne Boxgrove Partridge Green Camelsdale Westbourne Nutbourne Slindon Mannings Heath Langley Green West Harting Little Haven Rowhook Bracklesham Winterfold West Chiltington East Ashling Southbourne Balls Green Trotton Tillington Fittleworth Sunnyside Hardham Handcross Blackwell Birchgrove Castle Town Highleigh Lambs Green Hunston Lodsworth Common Waterbeach Stonequarry Ifield Green West Worthing Haslingbourne Singleton Apuldram Shoreham-By-Sea Furnace Green Marley Heights West Ashling North Heath North Marden Parbrook Findon Upper Norwood Balcombe Lane Halecommon Saddlescombe Selham Wisborough Green Sutton End Itchingfield Barlavington Hammer Binsted Slinfold Norton Coolham North Lancing Ebernoe Angmering Bognor Regis Greatham Bedham Coneyhurst Cinder Hill Funtington Westhampnett Upperton Gunter's Bridge Ansty West Green Shermanbury Iping Prinsted Barnham Wiston Stubbermere Leggatt Hill West Thorney West Marden Crosspost Crawley Down Chichester Little Common The Common Barns Green Temple Bar Hatch Farm Hill Linchmere Goose Green Northchapel Earnley Flathurst Worth Woldhurst Albourne Green Faygate Nutbourne Southern Cross Washington Codmore Hill North Bersted Brooks Green Rookwood Whyke Woolbeding Nyetimber Staples Hill Slough Green Crockerhill Baldwins Hill Churchwood Hickstead Ifold Nepcote Oving Nyton Broadbridge Worthing Bolney Colworth Burpham Runcton Church Norton Warninglid Warningcamp Byworth Bucks Green Lower Fittleworth Woodgate Crabtree Flansham Mid Lavant Bexleyhill Wineham Cuckfield East Lavant Toddington Hurstpierpoint Chilgrove Sullington Turkey Island Forestside Blackstone Great Common