Annual accounts

As a person responsible for a trading business, you are undoubtedly aware that your business has a statutory obligation to prepare and submit annual accounts within a specified timeframe in order to agree your tax obligation with HM Revenue and Customs (HMRC). In addition, if you are the Director of a limited company, you have the added responsibility of ensuring that your business’ annual accounts are filed at Companies House.

While some larger businesses are fortunate enough to have an in-house accounting function, the majority of companies, particularly owner-managed SMEs, sole traders, partnerships and self-employed freelancers and contractors, turn to an accountant, like Forrester Boyd, to complete annual accounts. However, many businesses still address the completion of their annual accounts as a tick-box exercise to meet statutory requirements.

At Forrester Boyd we have vast experience in preparing annual accounts for a variety of businesses and organisations, from LLPs and limited companies to charities, social enterprises and CICs, but in each case we view the completion of the accounts as the starting point to us helping you achieve or maintain business success.

Our experienced team at Forrester Boyd prepares the accounts efficiently, comprehensively and in line with three key criteria to meet the necessary requirements, but more importantly we use our expertise across a variety of business sizes and sectors to help make your accounts meaningful to you and your business.

In addition to ensuring that you are compliant with trade and legal obligations, we also look at ways to minimise your business’ tax liability and maximise your profit margins. We analyse the figures and cross reference the data with management information to provide you with insight that can help you make informed decisions to drive your company forward and support your business objectives.

We believe in being a supporter of your business, rather than just another supplier and prioritise follow-ups with you to ensure that the information gleaned from your annual accounts is being put to good use in helping your company to be more efficient and profitable.

Contact us today to arrange a meeting to discuss how we can help you achieve your business goals.

Management accounts

Your accounting information requirements will vary depending on the size and complexity of your organisation, but for many annual accounts will not be enough to ensure that you have accurate, timely and reliable financial information on the key performance indicators driving your business.

We can set up appropriate accounting procedures and controls to ensure that your accounts are kept fully up-to-date and in compliance with statutory regulations, while also providing regular management accounts to keep you up to speed on essential areas such as:

  • cash flow
  • profitability
  • performance ratios
  • customer activity
  • credit control
  • budget comparisons.

Through our management accounts service we are able to provide you with proactive and practical advice on how to make improvements to the performance of your business. We will help you make best use of your management accounts to make important decisions for your organisation.

We can also relieve additional pressure on you by providing support with payroll, VAT returns and bank reconciliations among other services.

To find out more call us today or simply complete our online enquiry form.