Every company is required to prepare statutory accounts – to comply with Companies Acts and HM Revenue & Customs legislation.
Statutory Accounts provide shareholders, investors, creditors and other interested people information about the company’s financial position and dependent upon the size of the business, typically include:
- Accounting policies
- Balance Sheet
- Cash-flow Statement
- Director’s Report
- General Company Information
- Profit & Loss account
- Notes to the Annual Accounts
These accounts have to be filed at Companies House within 9 months of the year end.
Preparing accounts, for internal and external reporting purposes, is one of our core post deal services. Although the primary aim of the preparation of statutory accounts is to report the performance and financial position to the stakeholders of a business, we shall also advise you on the following:-
- The resulting taxation consequences
- The view the accounts will present to bankers, potential investors, credit rating agencies and your competition
- Industry standards for the accounting policies followed to prepare these statutory accounts
Instruct Blue Sky to prepare your statutory accounts and we will unburden you of the worry of correctly calculating how your business has performed and we will take away the complication of ensuring all technical disclosures are correct. We will also ensure that they are prepared in sufficient time to be filed with the relevant Authorities by the statutory filing deadlines, so that no late filing penalties are incurred. When preparing these accounts, we shall be mindful that your tax liability is related to these results and we will actively seek proven techniques to minimise your tax.
We specialise in helping the owners/managers of small and medium enterprises to become investment ready, raise finance, start up a business, to sell a business, to undertake management buy outs/buy ins and to make corporate acquisitions.