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Limited Company Accounts

We will prepare a full set of accounts prepared in accordance with FRC (Financial Reporting Council) and IFRS (International Financial Reporting Standards).  The set of accounts would typically include but not limited to:

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  • Statement of Comprehensive Income (Profit & Loss Account)

  • Statement of Financial Position (Balance Sheet)

  • Statement of Changes in Equity

  • Accountant's Report

  • Director's Statement

  • Accounting Policy Statement

  • Detailed Assets, Liabilities & Equity

  • Detailed Income Statement

Limited Compay Accounts

Sole Trader Accounts

Individuals that run their own business with no legal entity are required to produce income and expenditure report to allow correct assessment of their tax liability.

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We would typically ​require:

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  • Bank statements

  • Receipts and invoices for all types of expenditure

  • Income records (sales receipts or extract of digital transactions)

  • Details of any assets held and it's useful life 

  • Stock records if applicable

  • Proper VAT invoices/receipts if VAT registered

  • Payroll details if operating a payroll

Sole Trader Accounts

Partnership Accounts

Partnership businesses have certain obligations such as a nominated partner is responsible for reporting the accounts.  However, each partner are also responsible for submitting their share of profit, which must tally to the partnership income and it's recorded distribution to HMRC.

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We would typically produce the following for a partnership:

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  • Profit & Loss Account

  • Balance Sheet

  • Partners Drawing Accounts

  • Detailed Assets, Liabilities & Equity

  • Detailed Income Statement

  • Financial Summary

Partnership Accounts

Bookkeeping Services

Our bookkeeping services usually comes in as standard unless you state otherwise.  We use latest cutting edge cloud-based accounting platforms to efficiently load all your accounting transactions.  All transactions are available to then export using multiple report functions by yourself for real-time analysis, decision-making as well as statutory reporting.

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Services include but not limited to:​

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  • Digital Bank Reconciliation

  • Recording Revenue

  • Sales Ledger Management

  • Purchase Ledger Management

  • Bills & Receipts Upload

  • Entering Journals

  • Creating New Account Codes

  • Constant review of the Trial Balance​

Bookkeeping Services

Payroll Services

You must submit electronic payment schedules to HMRC on or before the pay day.  You must also submit Employer Payment Summary (EPS) to obtain all eligible allowances and reclaim any statutory payments.  We manage this all seamlessly on our software platforms and transmit to HMRC in real-time. 

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Services include but not limited to:​

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  • Generating monthly/fortnightly/weekly pay slips

  • Real-Time Reporting to HMRC

  • Pension Auto-Enrolment Management

  • Claim tax relief such as Employer's NI Allowance

  • Producing annual P60s/P11d etc.

  • Updating tax codes as appropriate

  • Providing monthly HMRC tax liability statement

Payroll

Management Accounts

In order to make effective decisions financial decisions, a set of accounts required for Companies House is not enough to make internal decisions to allow you to operate in the most cost-effective way.  By allowing providing a set of management accounts, you can benefit in the following ways.

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  • Analyse all category of sales, costs and margins

  • Focus on driving higher gross margins

  • Reduce waste and save money

  • Drive efficiencies

  • Invest working capital in the right places

  • Understand you cash flow statements

  • Decide to implement or drop a product/service range

  • Make effective investment appraisal decisions

Management Accounts

Budgeting & Forecasting

It is good practice to set your company goals as without a target, it is difficult to know if you are performing well or not.  A budget is usually set annually and a forecast is something that changes regularly based on many factors.   There will also be occasion where you will be obliged to do it if you are looking to raise cash or borrow funds.

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Benefits of conducting a budget and forecast exercise are:

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  • Better control of your business

  • Plan your cash flow better

  • You will know your liabilities well in advance

  • Allows comparison against a baseline target

  • Hold budget holders to account

  • Visibility of what things are going well and not so well

  • More likely to access borrowing and funds

  • Helps plan ahead for timely expenditure

  • Make better decisions on avoidable costs

Budgeting & Forecasting
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