Statutory Annual Accounts
Tailored solutions for your business.
We offer accounting and bookkeeping services for various types of businesses, including sole traders, partnerships, limited companies and LLPs, where you can choose between our manual or online options.
With our fully outsourced service, we handle everything for you. Alternatively, we can work alongside your finance staff to assist them in preparing the accounts and provide guidance if they encounter any difficulties.
Take a look at our fully managed service and review and balance service below for more details.
Our annual accounts preparation services are customised to meet the unique needs of our clients. Typically, they include:
- Preparation of statutory annual accounts (and consolidated accounts for groups of companies), including all the required disclosures – for both incorporated and unincorporated businesses which comply with the Companies Act and HMRC’s requirements.
- Preparation of financial accounts for partnerships, LLPs and smaller businesses.
- Maintaining accurate and comprehensive nominal, sales and purchase ledgers.
- Reconciling your bank position.
- Preparing business and personal tax returns and VAT returns.
- Providing you with business reports e.g. profitability and business & financial performance analysis, aged debtor and creditor listings to help you get a better understanding of the business, commercial trends and prospects for the year ahead.
Fully managed service
We can offer a fully outsourced service where we take care of everything for you, or we can collaborate with and support your internal financial team and divide up the duties for all the various components in accordance.
In the event that you decide to have Martin Aitken & Co. manage everything, for instance, we will:
- Prepare your accounts from your cashbooks, bank statements, trial balances, invoices, credit notes and other trading and commercial documentation.
- Prepare your full accounts i.e. FRSSE (Financial Reporting Standards for Smaller Entities) accounts or abbreviated accounts. The choice will depend on whether you are able to take advantage of disclosure exemptions. We will explain this to you at our first meeting.
- Submit the accounts to Companies House on your behalf.
- Review your draft accounts – we will check these for completeness, errors and any omissions, including any disclosure requirements which you may be unsure about.
- Providing accounting standards compliance advice, especially in relation to transactions.
- The level of our involvement will depend on the size and complexity of your business.
Review and balance service
On the other hand, if you employ a bookkeeper or a finance manager/director and tend to prepare and file your own accounts, we will be able to assist you by:
- Reviewing your draft accounts – we will check these for completeness, errors and any omissions, including any disclosure requirements which you may be unsure about.
- Providing accounting standards compliance advice, especially in relation to transactions.
- The level of our involvement will depend on the size and complexity of your business.
Our team is proficient in a wide range of financial software packages. Transforming your detailed internally prepared accounts into well-organised statutory accounts that are easy to understand.
