• Preparation of Accounts

Our Services - Preparation of Accounts

What is Preparation of Accounts?

Your company’s annual accounts - called ‘statutory accounts’ - are prepared from the company’s financial records at the end of your company’s financial year.

You must always send copies of the statutory accounts to:

  • all shareholders
  • people who can go to the company’s general meetings
  • Companies House
  • HM Revenue and Customs (HMRC) as part of your Company Tax Return

You have different deadlines for sending your accounts to Companies House and your tax return to HMRC, but you may be able send them at the same time.

How to put together statutory accounts

Statutory accounts must include:

  • a ‘balance sheet’, which shows the value of everything the company owns, owes and is owed on the last day of the financial year
  • a ‘profit and loss account’, which shows the company’s sales, running costs and the profit or loss it has made over the financial year
  • notes about the accounts
  • a director’s report (unless you’re a ‘micro-entity’)

You might have to include an auditor’s report - this depends on the size of your company.

The balance sheet must have the name of a director printed on it and must be signed by a director.

Contact us now for more information: Telephone: 0208 399 9962, Mobile: 0771 013 7298, Email: enquiries@shansohalaccountants.co.uk