Professional Company Accounts in Twyford

Get in touch

Company Accounting in Twyford

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 Twyford

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 WR11 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 Twyford (Worcestershire)

Get in touch

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


Skip to

Gallery

Other locations available for professional company accounts
Honeybourne Elms Green Boreley Piper's End Headless Cross Bevere Broughton Green Hanbury Rowney Green Green Lane Brockencote Marsh End Corse Lawn White Ladies Aston Cruise Hill Sytchampton Barbourne Pendock Ryall Cleeve Prior Leigh Sinton Stonepits Holt Fleet Bishampton The Bourne Hanley Swan Gorst Hill Lower Strensham Gadfield Elm Guarlford Stoke Wharf Kinsham Sweet Green Welland Stone Knowle Fields Cookley Kyre Green Abberton Gilbert's End Lower Wyche Overbury Bredon Holy Cross Lower Westmancote Broad Green Birlingham King's End Huddington Snead Common Hanley William Moseley Stock Wood Shelsley Beauchamp Collett's Green Bugle Gate Birchen Coppice Broadmore Green Hinton Cross Frankley Hill Monkwood Green Rhydd Green Rye Street Wilden Hawford Broombank Weatheroak Hill Hartle Sheriff's Lench Barnard's Green Fairfield Birts Street Fernhill Heath Cropthorne Stoulton Bowling Green Blackpole Hunnington Pirton Fingerpost Stonehall Foley Park St John's Hopwood Hook Bank Crown East Naunton Beauchamp Lickey End Copcut Clifton Clows Top Childswickham Pin's Green Stone The Lakes High Green White End Kidderminster Beoley Hallow Heath Hawbridge Ab Lench Walton Pool Egdon Apes Dale Sidemoor Wick Shrawley Oldwood Cross Bank Newtown Kempsey Sedgeberrow Holly Green Trimpley Park End Bransford Guller's End Ravenhills Green Knighton Dodford Grafton Flyford Sledge Green Timberhonger Doverdale Hurcott Bushley Trotshill Brayswick Bournes Green Sankyns Green Goom's Hill Coles Green Buckbury Dunstall Common Worcester New End Malvern Wells Harvington Astley Cross Baylis Green Newtown Littleworth Chaddesley Corbett Alfred's Well Marl Bank Dormston Bastonford Longley Green Winyates Newnham Bridge Battenton Green Kerswell Green Lime Street Stanklyn Stock Green Broadwaters Bateman's Green Horsham Bank Street Dunley Noutard's Green Hadley Norton Lower Hook Great Witley Bengeworth Harbours Hill Inkford Pershore Cherry Orchard Cobley Hill Sandford Dowles Lea End Eachway Shelsley Walsh Leigh Lower Town Clent Woodgate Yarhampton Cross Lodge Park Webheath Finstall Elmley Lovett Badsey Kington Enfield Hagley Castlemorton Alfrick Evesham Hartlebury Common Birtsmorton Rochford Eastham Severn Stoke Cold Elm Franche Newland Common Whittington Hanley Castle Bockleton Cookhill Little Malvern Bradley Green Upper Wolverton Hunt End Forhill Kersoe Bricklehampton Churchill Astwood Bank Holbeache Kingswood Common Norton Martin Hussingtree Peopleton Witnells End Woolmere Green Interfield Dunhampton Blackwell Suckley Knowl Napleton Charford Hipplecote Church Hill Broughton Hackett Walcot The Hyde Deblin's Green Lower Sapey Mount Pleasant St Godwalds Salwarpe Withybed Green Middle Littleton Charlton Bury End Bank's Green Lineholt Common Primsland Tunnel Hill Carpenter's Hill Tardebigge Ronkswood Chawson Kemerton Sale Green Rushwick Rhydd Mamble Upper Arley Wickhamford Grove, The Upper Haselor Wildmoor Redcross Baughton Green Street Kinnersley Hill Croome Brockamin Gilver's Lane Ribbesford Broad Green Malvern Common Poolbrook Trueman's Heath Sinton Green Birch Berrow Hanley Child Titton Shell Upper Moor Rumbow Cottages Wribbenhall Offenham Barnettbrook West End Leapgate Pensax Blackminster Cofton Hackett Smite Hill Stoke Bliss Wichenford Drakes Cross Little Inkberrow Winnall Tolladine Hollybush Cooksey Corner Lem Hill Oddingley Moon's Moat Upper Catshill Chapman's Hill Summerhill Kingsford Uphampton Frith Common Walshes, The Ashton under Hill Longdon Heath Offmore Farm Wood Green Westlands Droitwich Holt Heath Matchborough Ladywood Aggborough Crabbs Cross Great Comberton Birch Green Wood Norton Lower Howsell Bretforton Drayton Upton Warren Oakall Green Slideslow Caunsall Sneachill Slades Green Newbridge Green Ham Green Castle Hill Grafton Wants Green Conderton Norchard St Peter The Great Woodgates Green Pinvin Sinton Himbleton Martley Nineveh Saleway Arrowfield Top Structon's Heath Morton Underhill Broadwas Stratford Powick Crossway Green Upper Bentley Dawshill Earl's Common Hindlip Abberley North Piddle Little London Stonebow Elmbridge Crowle Hartlebury Holt Madeley Heath Rainbow Hill Greenlands Long Bank Witton Woodrow Sherrard's Green Wythall Crowle Green Mere Green Hales Park Hill Side Kyrewood Lower Moor Willow Green Flyford Flavell Hatfield Hollywood Fairfield Ockeridge Earl's Croome Rous Lench Pound Bank Upper Wyche Bickmarsh Shernal Green St Michaels Dagtail End Lower Clent Wick Episcopi Dayhouse Bank Littleworth Yarhampton Libbery Upper Gambolds Pebworth Greenhill Noah's Green Blakeshall Henbrook North Littleton Four Pools Heightington Berrow Green Grimley Old Storridge Common Lakeside Ripple Lineholt Woodmancote Chandler's Cross Tutnall Eldersfield Hadzor Strensham Lower Wick Bell Heath Brownheath Common Little Beckford Laughern Hill Beckford Chase End Street Romsley Hill Windmill Hill Broadway Shatterford Park Gate Hillpool Far Forest Rashwood Suckley Upper Ham Burcot The Gutter Mustow Green Broad Alley Pole Elm Stakenbridge Piper's Hill Picken End Doddenham Claines Suckley Green Tanwood Ramsden Darbys Green Broad Marston Neight Hill Gallows Green Madresfield Eardiston Upper Lode Pixham Edgiock Cakebole Bell End Good's Green Naunton Knighton on Teme Major's Green Phepson Whiteleaved Oak Southwood Habberley Summerfield The Rampings Barnt Green Drakelow Hill Furze Badger's Hill Linthurst Drakes Broughton Wyre Piddle Foster's Green Eckington Astley Witton Hill Longdon Hill End Cotheridge Beach Hay Bridge End Stoke Prior Cladswell Bayton Chadbury Aston Fields Great Malvern Stanford on Teme Orleton Atch Lench Lickhill Offenham Cross Alfrick Pound Charlton Uckinghall Nash End Cutnall Green Stockton on Teme Smith End Green Bouts Newland Washford Stanbrook Wadborough Besford Kyre Park Howsen The Burf Brook End Smallwood Camer's Green Hallow Callow End Elmley Castle South Littleton Kendal End Headley Heath West Malvern Northwick Acton Upper Strensham Bredon's Norton Menithwood Lower Wolverton Diglis Heath Green Pink Green Green Street Astwood Dunhampstead Morton Spirt Greenhill Church Lench Stanford Bridge Blakebrook Portway Woodsfield Southcrest Abbots Morton West Hagley Winyates Green Feckenham Bredon's Hardwick Lydiate Ash Holdfast Harvington Little Witley Bluntington Nineveh Callow Hill Foxlydiate Queenhill Bewdley Stoke Heath Moor End Riverside Knightwick Elcock's Brook Birch Acre Longdon Tibberton Tenbury Wells Alvechurch Netherton Stoke Pound Hoobrook Chatley Perryfields Upton upon Severn Bushley Green Druggers End Chadwick Broome Pound Green The Hook Little Eastbury Burlish Park Ombersley Stoney Hill Kyre Grimes Hill Hackman's Gate Catshill Waresley Collins Green Spetchley Bournheath Upper Welland Hoden Baynhall Warndon Duckswich Aston Bank Ipsley Lindridge Blackmore End Hampton Malvern Link Fladbury Cross Lower Broadheath Frog Pool Broom Hill Hall Flat Cooksey Green Woodrow Torton Long Green Greenway Romsley Sharpway Gate Redditch Westmancote Belbroughton Twyford Berry Hill Pensham Lincomb Upton Snodsbury Clifton upton Teme Aldington Brotheridge Green Rushock Low Habberley Wolverley Bliss Gate Mount Pleasant Podmoor Hinton on the Green Woodcote Green Holt End Lower Bentley Goosehill Green Hampton Lovett Ullington Ross Green Marlbrook Ankerdine Hill Blackstone Shurnock Fladbury Murcot Cobbler's Corner King's Green Buckridge Astwood Footrid Little Comberton Catchems End Brickfields Churchill Staple Hill Draycott Branson's Cross Little Welland Hardwick Green Dordale Tanner's Green Holberrow Green Linkend Rock Church End Upper Howsell Inkberrow Shoulton Fairfield Defford Highwood Hill End Stourport-on-Severn Bromsgrove Welland Lenchwick Shenstone Batchley Bayton Common Frankley Priestfield Lickey Throckmorton Upper Wick Spennells Red Hill Wychbold Old Hills Portway Harpley Oldfield Lye Head Aston Somerville Upper Rochford Pound Bank Silver Street Broad Common Radford Blakedown Areley Kings Dines Green Worms Ash Bryan's Green Sneads Green Bickley Frankley Green Lulsley Crowcroft Berrow Comhampton Stitchin's Hill Bellevue