Small Business End of Year Accounts

At Edwards Bailey Chartered Accountants our year end accounts service is tailored to meet you and your business needs, as we understand that every business is different so a blanket approach to small business end of year accounts just does not work.

Year End Accounts

Year end accounts are a necessity for every business, whether you have a limited company, are self-employed, have rental property or are a sub-contractor. They vital for understanding your businesses performance and to implement tax planning.

Small business end of year accounts are the basis for corporation tax returns and self-assessment tax returns in the UK and are the key to ensuring you are generating profits in a tax efficient manner. For Limited companies they are also filed on public record at Companies House.

At Edwards Bailey Chartered Accountants our year end accounts service is tailored to meet you and your business needs, as we understand that every business is different so a blanket approach to small business end of year accounts just does not work.

Our team of experts are on hand to assist you with preparing your small business end of year accounts, as well as advising on what records to keep and they best way for you to maintain your financial records.

Accounting for limited company uk

In the UK limited company accounts need to be filed on public record with Companies House 9 months after the end of the financial year. They can either be filed by post or online by using IXBRL tagging software.

The rules and regulations around what needs to be included in limited company accounts is complex and needs to be followed in order for Companies House to accept the accounts. Failure to follow these regulations can lead to fine and penalties that no one needs!

Our small business end of year accounts service ensures your limited company accounts comply with the applicable rules and regulations, meaning no unwanted fines and penalties for you and your business.

We will always keep you informed of any changes to the legislation that impacts you and your business so you can be prepared and adapt as needed with minimal effort and stress.

Understanding End of Year Accounts

Most accountants can complete year end accounts and tax returns, but it is how this service is provided to you and your business that makes the difference.

We will never provide you with your small business end of year accounts without discussing them with you first to ensure you fully understand your company's performance.

Understanding end of year accounts can assist you with making business decisions which ultimately could make your business thrive. As a firm we will provide any training you need to help you in understanding end of year accounts at no additional charge.

Buy to Let Limited Company Accountant

Buy to let property and investment property businesses have very specific requirements and rules which can result in you not generating profits in the most tax efficient manner and have serious VAT implications.

Our team of buy to let limited company accountants are experts in their field and are ready to help you get the most out of your property portfolio.
They will always inform you of any changes in legislation that will impact you and your property business to make sure action can be taken in advance to ensure you continue to generate profits in a tax efficient manner.

How can Edwards Bailey help you?

Our aim is to ensure we help our clients attain their goals.

End of Financial Year Accounting Checklist

Many people ask us what information they need for us to prepare their small business end of year accounts.
Our end of financial year accounting checklist below details some of the key pieces of information that is required:

Manual Accounting Records

  • Bank statements
  • Credit card statements
  • Petty cash records
  • Sales invoices
  • Purchase invoices
  • Payroll Records

Accounting Software

  • Access to your accounting software
  • Your bank reconciled in the software
  • Your credit card statements reconciled in the software
  • Purchase invoices 
  • Payroll records

End of Year Accounts Cost / Accountants Fees for Small Limited Company

We often get asked is my accountant charging me too much, how much does a tax return cost and what is the fee for small business end of year accounts.

The answer is, it depends!

Our accountancy practice does not operate like most others. For all our Accountancy Solutions we work on a fixed fee basis, which includes as many calls, emails and as much advice as you require throughout the year at no additional charge, as well as HMRC enquiry defence as standard.
That way you know exactly what your accountancy costs will be for the year without any nasty surprises.

Limited Company Accountant Romford / Thurrock

Our small business end of year accounts service is second to none, will assist with understanding end of year accounts and ensure they will be prepared in the most tax efficient way possible.

If you are in the property sector, our team of expert buy to let limited company accountants are perfectly placed to provide you industry specific advice which can help your business prosper.

If you are looking for a limited company accountant in Romford, Thurrock or London, contact Edwards Bailey Chartered Accountants today for a free consultation.

How can Edwards Bailey help you?

Our aim is to ensure we help our clients attain their goals.

Frequently Asked Questions?

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How Much do Accountants Charge for Year End Accounts?

It depends! Our accountancy practice does not operate like most others. For all our accountancy solutions we work on a fixed fee basis, which includes as many calls, emails and as much advice as you require throughout the year at no additional charge, as well as HMRC enquiry defence as standard.

That way you know exactly what your accountancy costs will be for the year without any nasty surprises

When do Year End Accounts Need to be Filed?

For newly incorporated companies you have 24 months from the date of incorporation to file your accounts with Companies House.

After the first year, limited company year-end accounts need to be filed with Companies House 9 months and 1 day after the end of the company’s financial year.

If you are self-employed your accounts do not need to be filed, but they will be used to file your personal tax return, which has a filing deadline of 31st January following the end of the tax year.

How Long After Year End to File Accounts?

We recommend completing your accounts as soon after your year-end as possible. This gives you plenty of time to file your accounts before the filing deadline and gives you time to save for your tax bill.

What is Accounting Year End?

When you incorporate a limited company you will automatically be allocated a financial year-end. For example, if you incorporate your company on 5th July, your company’s financial year-end will be 31 July.

You can shorten or extend a financial year to get your desired year-end date. If you are extending a financial year, the period cannot be greater than 18 months and you can only extend a company’s year-end once every 5 years.

What Does my Accountant Need for Year End?

If you keep manual accounting records your accountant will need:
- Bank statements
- Credit card statements
- Petty cash records
- Sales invoices
- Purchase invoices
- Payroll Records

If you use accounting software your accountant will need:
- Access to your accounting software
- Your bank reconciled in the software
- Your credit card statements reconciled in the software
- Purchase invoices
- Payroll records

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If you would like to discuss the services we offer or for a no obligation quote please contact us using the details on the right.