0113 288 8111
This is the ‘bread and butter’ of any chartered accountancy practice – the annual accounts preparation.
Our starting point for preparing the accounts is to use the records that you provide. Our approach is to offer all clients a template Excel spreadsheet (with advice on how to complete it!). That way, we get the records in a format that we prefer.
However, many clients also provide their records in other formats, ranging from a Trial Balance using a computerised bookkeeping Package (like Sage or a Cloud package), a traditional ledger book, or even a bag of loose receipts!
We clearly don’t encourage the latter – however, using these records, we then prepare annual accounts in the required format – whether that be for sole traders, partnerships or limited companies. These are brought to draft format for the client’s approval, and then we file the final version with HMRC, and also with Companies House for limited company accounts.
Certain companies, including limited liability partnerships and charities, are required by law to have their financial statements audited if certain criteria are met. Many small and medium sized companies will be able to claim exemption from this requirement so long as it has at least two of the following:
– an annual turnover of no more than £6.5 million
– assets worth no more than £3.26 million
– 50 or fewer employees on average
Given most companies meet the criteria, we would add an ‘Audit exemption statement’ on the balance sheet. It should be noted, however, that companies may also require an audit for other reasons, including if it is in the public interest or if it is required by the shareholders or other stakeholders.
For businesses requiring this, we are able to provide a full, audit service.
Tel : 0113 288 8111
100 High Ash Drive, Leeds, LS17 8RE
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