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Statutory Accounts Service
Statutory Accounts
In the UK every single company registered at Companies House is under a legal obligation to prepare and submit statutory accounts. All too often the directors are too busy to undertake this task. We can do this for you explaining every step and ensuring complete transparency throughout the process.
Our Statutory Accounts Services
Annual accounts prepared, checked and submitted to Companies House
Accounts submitted punctually and professionally
Expert tax advice minimises liability and identifies areas to help plan future business improvements
Financial statements and abbreviated accounts ensure minimum financial information is disclosed
Compliance with Companies House and UK law guaranteed
Statutory auditing services available where applicable
Next Step:
Please contact us if you need further Statutory Accounts advice have any questions about our services, or would like a free consultation or a fixed quote.
What are Statutory Accounts?
Company accounts or statutory accounts consist of a set of statements which is prepared usually at the end of the year. These statements offer summaries of business organization’s performance and its state of financial health. These are mandatory for limited UK companies and must be submitted to Companies House and HMRC.
Statutory accounts typically include:
Balance Sheet: This shows the current balances of assets, liabilities, and equity at the end of the financial year.
Profit and Loss Account: This shows the income statement and the net profit or the losses incurred in the year under consideration by the firm.
Cash Flow Statement: This help in tracking of the cash flow of the business’s operation, investment and financing.
Notes to the Accounts: These supplement more information and context to the financial statements, which involves the policies of the financial statements and an explanation of the numbers.
Statutory accounts must be prepared because the shareholders, creditors, and regulatory bodies must have useful information about the company.
Why Choose
IBISS & CO for Statutory Accounts?
Selecting the most appropriate accountancy firm to source statutory accounts significantly impacts the work’s quality, legal compliance, and productivity. Here are some reasons to choose IBISS & Co:
Expertise and Experience
Our accountants at IBISS & Co. are professional and capable of delivering statutory accounts services to companies in diverse fields. Their specific knowledge makes them abide by the current legal provisions and rules on accounting.
Personalised Service
IBISS & CO acknowledges the fact that each form of the business is different from the other. They have personalized solutions that relate to the specifics of your business, requiring them to give you valuable information for choosing the best financial strategies.
Attention to Detail
Statutory requirements also play a major role in preparing accounts, and it is essential so that people who invest their money can trust that firm and the authorities who break the law do not take advantage of them. IBISS & CO employs a very effective method that ensures every figure provided in your financial statement is checked severally and verified.
Timely Delivery
It is crucial to meet statutory deadlines since failure to do so will invariably attract a penalty. IBISS & CO thus ensures that you receive your accounts on time and fulfill all the filing requirements.
The IBISS & CO Process
The process IBISS & CO follows for preparing statutory accounts is designed to be efficient and comprehensive:
Initial Consultation: The procedure begins with an initial consultation to understand the client’s business, its financial operations, and its expectations and worries.
Preparation of Draft Accounts: Based on the gathered data, IBISS & CO. creates the first version of the statutory accounts, which should be published. This is done to check with you for accuracy or to discuss further details, problems, or changes with the draft.
Data Collection: Every dollar needed is collected – bank statements, invoices, receipts, and even previous financial statements, if any- to ensure nothing is left out and to paint a clear picture of the financial year.
Finalization and Review: The adjusted trial balance is then prepared to recheck the balances in the ledgers after adjustments are made and the final accounts are prepared. A detailed check confirms that all the details are correct to meet the set requirements and avoid violating the set regulations.
Filing and Submission: After reviewing, IBISS & Co submits the statutory accounts to Companies House and HMRC since all your business’s filing deadlines must be followed.
Advantages of Our Statutory Accounts Services
Choosing IBISS & CO for your statutory accounts offers several benefits:
Compliance Assurance: There are legal issues involved, and it is critical to remember to abide by all laws to avoid being on the wrong side of the law, hence facing the consequences. So, our statutory accounts provide compliance assurance.
Financial Insights: It provides a good clue of how your business is financially placed to enable you to make sound strategic plans.
Time Savings: Take less time managing your accounts while you concentrate on the business operations, knowing that it is in capable hands.
Cost-Effective Solutions: Competitive pricing guarantees that you can access high-quality services at relatively cheap rates that you will be willing to pay.
Peace of Mind: Have peace of mind knowing that qualified personnel are so careful when preparing the financial statements.
Frequently Asked Questions(FAQs)
The statutory accounts are filed, though, taking an average of nine months after the year-end to do so. For instance, if the net of the company is of the financial year ending on 31st December then it is recommended that the accounts of the company are to be filed the Next year before 30th September.
However, as will be observed if an organisation files for an event, and fail to do so before the time of filing, penalties/fines are paid.
Certainly, but at IBISS & CO, we have great experience preparing statutory accounts for businesses of all sizes, including small and medium enterprises. This guarantees the satisfaction of the client’s needs as everyone is given explicit attention.
Indeed, even if a company is nonactive, statutory accounts must be prepared and filed. However, the requirements are simplified and IBISS & CO has helped.
Therefore, to begin with, one can telephone IBISS & CO to make an appointment for the first interview. They will assist you in all processes and all the statutory account work.
CONTACT US
Confused Where To Start?
Schedule a Free 15-minute discovery call by providing your contact details, mentioning your requirements, and selecting a convenient date for the call.
How our discovery call works:
- Complete Our Contact Form
- Discovery Calls Scheduled
- Receive a Tailored Proposal
We Help Our Clients
Sole Trader
HMRC Self employed registration
Self Assessment submission
Unlimited accountancy support
Dedicated client management
from £30 +VAT (Per Month)
Ltd Company
All your accountancy questions answered
Statutory Year End accounts
Corporation Tax filing
Phone and email support
from £70 +VAT (Per Month)
Tax Advice
Income Tax Planning
Overseas Workday relief
Effective Tax planning for property landlords
Capital Gain Tax Mitigation
from £150 +VAT (Per Hour)
Growing Business
Self Assessment
MTD VAT Submissions
Annual Accountancy Health check
Our speediest support & service
from £150 +VAT (Per Month)
IBISS Offices Location
- 188 Mitcham Road Tooting London SW17 9NJ
- 0208 626 7098
- 0203 808 0999
- tax@ibissandco.com
- Schedule A Meeting
Tooting
- 48 Cambridge Rd, Barking, IG11 8NW
- 0203 393 1654
- 0208 626 7098
- essex@ibissandco.com
- Schedule A Meeting
Barking & Essex
- 21 Hyde Park Rd, Burley, Leeds LS6 1PY
- 0113 247 0505
- 0113 322 0502
- leeds@ibissandco.com
- Schedule A Meeting
Leeds
Accountancy Advice
Do you wish you could spend less time
worrying about liabilities and more time
growing your business? Our free consultation
- Understanding your business
- Tailored Advice
- An accurate financial service
- Great value for money
Free /One hour
Tax Advice
Whatever your taxation needs we offer guidance and support in meeting your legal obligations while reducing your resultant tax.
- Analysing your tax problem
- Finding a solution
- Tailored Advice
- Fixed Fee Quote
£150 /Hour
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