Annual Accounts Preparation
By Law, every business whether Limited company, sole trader or partnership are required to prepare accounts that report on the performance and activities of the business for each financial year (usually a 12 month period).
It is a statutory requirement for a Limited company to prepare this set of accounts. Although it is not mandatory for sole traders and most partnerships to prepare a formal account, they do need to maintain adequate financial records for the purpose of their self assessment / partnership tax return. MZA & CO. Accountants can assist in making sure that your business complies with the accounting standards.
At MZA & CO. Accountants we can prepare a final set of annual accounts for sole traders, partnerships, limited liability partnerships and limited companies taking into account all necessary year end adjustments.
Generally this would include:
It is a statutory requirement for a Limited company to prepare this set of accounts. Although it is not mandatory for sole traders and most partnerships to prepare a formal account, they do need to maintain adequate financial records for the purpose of their self assessment / partnership tax return. MZA & CO. Accountants can assist in making sure that your business complies with the accounting standards.
At MZA & CO. Accountants we can prepare a final set of annual accounts for sole traders, partnerships, limited liability partnerships and limited companies taking into account all necessary year end adjustments.
Generally this would include:
- Preparation of financial statements in the form of income and expenditure statement (Profit and loss accounts); a balance sheet; notes explaining the accounts for Sole Traders and Partnerships businesses which can be used to complete you vat returns if applicable and self assessment tax returns for submission at HMRC.
- Full annual statutory / abbreviated accounts prepared for limited companies to be filed electronically in iXBRL format at Companies House and HMRC
* Accounts and Tax Return services include a review of your bookkeeping or income and expenses records. Please Note: Prices are based on the adequacy and accuracy of the information, records, maintained by clients and are also dependent on the level of the work carried out!
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