What is this and why would you need this service?

Whether a limited company or not, the business has to create accounts each year
representing the profit or loss (or excess of income over expenditure) for the business
for that year.

For limited companies, statutory accounts also need to be prepared and filed with
Companies House.

In both cases, the annual accounts form the basis of tax (personal for non limited
companies, personal and corporate for limited companies) computations for that year.

So a very important process!!

Prerequisites

There must be some form of books of account although accounts can be prepared from
a box of receipts.

As a bare minimum, the following would be required in order to facilitate the preparation
of accounts:

1. Receipts to support income and expenditure.
2. Statements to support the receipts. for example, credit card and bank statements.
3. Unless this is a new business, a copy of last year's accounts.

To make life easier for you to manage your business, we would recommend keeping
the business books discrete.  For limited companies, this is a must! For non limited
companies, we would recommend opening up a 'Trading as' bank account if at all
possible. Keeps the bookkeeping simple and reduces the bookkeeping fees!!!! 

How can we help?

We can prepare your accounts from your books of account whether these be from an
accounts application, a cash book or a box of receipts.