We offer a full range of Accounts and Book-keeping services for all types of small businesses.
Year End Accounts
We prepare accounts for the Self-Employed, Partnerships and Small Companies. There are different reporting requirements for different business structures and we ensure that we comply with current legislation.
How do you need to provide your records?
Well, it’s your choice as to whether you do your own book-keeping first, and this would have been agreed in our discussions beforehand. We will help you try and save money by helping you decide which aspects you feel comfortable doing yourself, and which bits you would just rather hand over to us. If you don’t keep good financial records during the year, then we will require all receipts, invoices, bank statements, cheque books etc.
If you do your own book-keeping, then we normally require access to your records, plus your business bank statements and copies of major invoices / expenses. We will then request certain copies of expenses as we check your records.
Company accounts are submitted online to Companies House once we have obtained your approval. Self-Employed Year End accounts form the basis for your tax calculation and are submitted to HMRC by way of your tax return.
If the thought of doing your own book-keeping scares you silly, or sends you to sleep, we can do your book-keeping for you as we love it! Or, you may be like us, and not mind book-keeping (maybe even like it, at a push!), but have just got far too busy to do it yourself.
We have two fantastic book-keepers, so you are not having to employ someone yourself and costs are kept as low as possible. Fixed monthly fees can be agreed, rather than hourly rates. Paperwork can be provided to us either electronically or by post / collection or drop off. Or we can come onsite at your premises and prepare all of the books there. The advantage of us doing your book-keeping for you, is that the accounts are near perfect when it comes to preparing year end accounts and therefore your year end accounts fees are kept to a minimum.
We partner with Clearbooks and Xero online book-keeping systems. This means we have the advantage of Partner discounts which we can pass onto you. By using a cloud based book-keeping package, the accounts are visible to you at any time of day - all you have to do is log in and you can instantly view your current financial position. It also has the advantage that we can log in to your accounts and help you with a problem, at the click of a few buttons.
Regular Management Accounts
“What is the difference between management accounts and year end accounts?” we hear you ask…
Management Accounts are for you to use in order to know how your business is performing at any point during the year, as opposed to Annual Accounts that are mainly for statutory reporting or tax purposes. Other important information is also included in a Management Accounts pack, such as details of debtors and creditors, and may include a Cash Flow Forecast.
We deal with all aspects of tax compliance work for Trusts.
A Trust is a legally binding arrangement whereby a person (the Settlor) transfers assets to another person (the Trustee) who then legally owns the assets. The Trustee holds the assets either for the benefit of the Beneficiaries which may or may not include the Settlor, or for a specified purpose.
A tax return must be submitted to HMRC on behalf of the Trust. There are specific rules regarding what type of expenses are tax deductible, which are not the same as for general business rules. We can prepare your Trust Accounts and will know what information to ask you for, depending on what type of Trust you hold and the purposes and assets of the Trust.
Some of our clients are registered charities and we prepare the annual reports and accounts for submission to the Charities Commission, as well as the normal year end accounts and tax return.
To hear more, contact us today.