Submitting annual accounts to Companies House is a statutory requirement for any private limited company. It is important to submit your accounts on time as you will incur hefty fines for late submission. Choice Accountancy will prepare a profit and loss account, balance sheet and other reports on your behalf, and we guarantee to submit your accounts on time.
We have expertise in the specific accounting needs of partnerships, charities and not for profit organisations. Our accountants will advise you on the exact reporting requirements for your organisation, as determined by factors such as income and value of assets.
Our experts are well aware that business owners are busy people, and that your priority is to invest in your company’s future growth, rather than waste time wading through paperwork to ensure your accounts are perpetually up to date and accurate.
Annual accounts are certainly a necessary evil though, not only to keep you on side with the tax man, but also from your own point of view. Accurate annual accounts allow you a detailed and relevant insight into your business performance and the overall health of your organisation. You will be able to see at a glance how your income compares to your outgoings, you will be able to measure your annual profits against previous years, identify areas in need of improvement, areas where you could potentially save money, and of course, pin point exactly what is working to make you money so you can do more of it!
Business accounts are involved, and can be complicated, which is why so many small and large business owners alike get into bad habits such as going long periods without updating and auditing their own affairs.
Using a professional service to maintain your accounts ensures things are kept up to date, so that you have instant access to your most recent information, allowing you to make the best decisions going forward.