Year-end record review
Reviewing the trial balance and supporting records, with queries on missing information and significant balances.
Company Accounts in Harrow and Ruislip
Year-end company accounts you can understand.
Practical company accounts support from our Ruislip base, with the work and fees agreed around your needs.
The Service
What are company accounts?
Company accounts are annual financial statements prepared from a limited company's accounting records. They show its financial position and performance, with the content and filing format depending on the company's size and circumstances. Angel Accountancy helps private limited companies prepare accounts, resolve year-end queries and plan the required filings.
Who can benefit?
This service is for directors of trading companies, recently incorporated businesses preparing their first accounts, and companies that need to review their reporting obligations. Dormant companies may qualify for a simpler filing. If your company is part of a group, has overseas activity or may need an audit, describe that at the outset.
Discuss Your Requirements
What Support Can Include
A considered approach to company accounts.
The services below can form part of an agreed engagement. We confirm the work, responsibilities and fees before starting.
Accounts preparation
Preparing the relevant financial statements and notes for the agreed accounting framework and company circumstances.
Director review
Explaining the draft accounts, resolving outstanding questions and obtaining the required director approval.
Companies House filing
Preparing the filing version of the accounts and submitting it when filing support is included and authorisation is in place.
Tax coordination
Connecting the accounts to the corporation tax computation and CT600. Tax return work is agreed as part of the scope.
First and dormant accounts
Checking reporting needs for a first period or a dormant company, including any differences between Companies House and HMRC status.
A Closer Look
Make the reporting requirements clear.
What goes into a set of company accounts?
The accounts draw together sales, costs, assets, liabilities and shareholder funds for the period. Supporting notes and other reports depend on the applicable reporting rules. We review material balances such as loans, fixed assets, debtors, stock and director accounts. The information sent to Companies House can differ from the full accounts supplied to members and HMRC. A limited company does not automatically have to publish every document in its full accounts.
Choosing the reporting framework
The available framework depends on eligibility and the accounting period, rather than simply choosing the shortest filing. Current micro-entity size criteria are turnover no more than £1 million, a balance sheet total no more than £500,000 and no more than 10 employees, with at least two criteria required and additional qualification rules. Group membership, excluded company types and changes in size can affect eligibility. We check the rules before using a micro-entity format.
Accounts, tax and filing dates
Most private companies file subsequent annual accounts within nine months of their financial year end. First accounts normally have a deadline 21 months after incorporation, with special rules in some cases. The Company Tax Return has its own timetable, and tax payment can be due before the return. Check the actual deadlines for your company rather than treating the accounts and tax return as one filing.
Keeping director responsibilities clear
The directors remain responsible for company records and approving the accounts. Before approval, check whether the draft reflects the business and whether all assets, debts and related-party transactions have been disclosed. Tell us about dividends, money taken out of the company, changes in ownership and any concerns about its ability to continue trading. If records are incomplete or a deadline is close, raise this early so the available options can be discussed.
Getting Ready
What to bring to your first discussion
Bring the bookkeeping file or trial balance, bank statements, invoices, year-end stock figures, fixed-asset details, loan and lease agreements, payroll summaries, previous accounts and details of director transactions. Include Companies House notices and the accounting period you expect the accounts to cover.
- Bookkeeping file, trial balance and bank statements
- Invoices, stock and fixed-asset details
- Loans, leases, payroll and director transactions
- Previous accounts and Companies House notices
How We Work
From year-end records to approved accounts.
Check the company and dates
We review the company's reporting period, filing history, size and current records before agreeing the work.
Prepare and explain
We reconcile key balances, raise queries and prepare draft accounts for your review.
Approve and file
After approval, we complete the agreed filings and explain the remaining tax payment or company administration actions.
No. Accounts report financial results and position. A Company Tax Return reports taxable profits and Corporation Tax, using accounts and a tax computation as supporting information.
No. Many companies qualify for audit exemption, but size, group status, company type and other conditions must be checked. An accounts preparation engagement does not itself provide an audit.
A qualifying dormant company may use simpler accounts. Dormancy for Companies House and dormancy for Corporation Tax are different tests, so both positions should be reviewed.
The directors approve the accounts, and the balance sheet must include the required director signature. We prepare the draft and explain it before asking for approval.
Companies House accounts can cover a first period longer than 12 months. A Corporation Tax accounting period cannot exceed 12 months, so more than one tax return may be needed.