Why do we produce annual accounts?
Apart from being a statutory requirement, your annual accounts can provide you with various amounts of information about your business’ performance. It can identify areas where savings can be made or indicate a product or service that is not performing to its optimum potential. This information is crucial for any business and can be the difference between success and failure (we only do success). Using the comprehensive report of every single financial transaction during the year, you can see all your business’ actions and things you could improve. It also shows the tax you need to pay to the state for your business.
What will we do for you?
We will start by reviewing your bookkeeping or business and produce a set of working papers which are used to calculate your accounts. Once we’re happy this is all correct we will then create a draft set of accounts which we will review with you. This may highlight some changes that are needed, for example you may need to become VAT registered or consider tax planning for the future. Either way, we will be there every step of the way to guide you and provide all the information required. Should you have any of the questions, you can always contact us and we will provide you with more information.
This section contains frequently asked questions and answers to these questions. If you have a question that you could not find an answer to, feel free to contact us so we could provide the answer.
What are annual accounts?
Annual accounts are a disclosure of the financial details of a company, usually presented in the form of a profit & loss account and a balance sheet. They show all the financial activity of your business.