All businesses require the preparation of accounts for use by both the shareholders/partners and the Inland Revenue. We ensure that annual accounts are prepared to the requisite standard, helping you to fulfil your tax ans statutory obligations.
Although many see the only purpose of accounts is to arrive at a profit figure for the taxman there is much more to it than that. Accounts provide a basis on which to review your business in order to determine ongoing plans and decide on future strategies. Accounts enable you to evaluate your short, medium and long term goals.
Having prepared your financial statements we take the opportunity to interpret and advise on the results and figures contained therein, thereby assisting you with your decision making process be it growth, tax minimisation or exit strategy.
If the business is more dynamic we are able to prepare monthly, quarterly or half yearly accounts for management purposes to aid the decision making process.
UK limited companies are required to undertake an audit if:
- turnover exceeds £6.5 million,
- total assets exceed £3.2 million or,
- demanded by other regulatory bodies e.g. Financial Services Authority or ABTA,
- shareholders owning 10% or more of the issued share capital request an audit
Other entities such as charities have separate audit requirements governed by their own appropriate legislation.
We are skilled and experienced to carry out audits on all types of businesses and regulated entities.