Accounts
For Limited Companies and LLP
For limited companies and LLP’s, a set of statutory accounts need to be filed at Companies House annually.
Accounts need to comply with reporting standards and will form the basis of the company tax return. We will take your bookkeeping data and prepare accurate business accounts to not only meet your compliance requirements, but also provide you with the essential financial data you need to run an effective and successful business.
Our expert team will prepare accurate and correct accounts to give you all that you need when it comes to your self-assessment tax return, company tax return, business decisions and investment needs
Why choose a limited company accountant?
At Low Cost Accounts, we will ensure your accounts:
- Comply with current accounting standards
- Are as tax efficient as possible
- Are filed on time to avoid any penalties
- Are accurate and can be relied upon for decision making
- Can be used as evidence for applying for a loan or a mortgage
- Are filed for an unbeatable fee
FAQs
Do I have to file company accounts?
If you have a Limited Company or a Limited Liability Partnership (LLP), then you will need to file accounts at Companies House. These will normally include a Balance Sheet, a Profit and Loss Account, notes to the accounts and a Director’s Report
What other requirements are there?
Aside from filing accounts with Companies House, a Corporation tax return, a Confirmation statement and a self-assessment Tax Return will typically have to be filed annually. A Director’s Payroll may also be a tax efficient strategy.
What is a Balance Sheet?
A Balance Sheet is a snap shot of a Company’s Financial Position at Year-end. It will show all assets and liabilities of the company, including fixed assets, debtors, creditors, loans and cash balances.
When is the year end accounts deadline?
The deadline for filing accounts at Companies House is generally 9 months after the year end date.
What records do I need to keep?
Small business owners will normally keep a spreadsheet detailing income and expenses or use cloud accounting software to track business transactions. Together with company bank statements, these will form the basis for preparing accounts. Companies are required to keep invoices, receipts and records for a minimum of six years!