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St John’s Business Estate
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Norfolk
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Accounts

 

There are many ‘sets of accounts’ available, depending on your specific needs as explained below. If you are unsure about what you need or why you need them, just ask.

Company Accounts

If you are a Limited Company, you are required to submit your year end accounts to Companies House within 9 months of the year end. We prepare a fully comprehensive set of accounts and an abbreviated version for submission, then use the information to complete the company tax return.

 

Self Employed as a Sole Trader, a Trading As or in a Partnership

The size and nature of your business determines if you require a set of accounts. Not everyone that has to produce a tax return will need them;

• If your sources of income are straight forward, you can just ask us to complete and submit your tax return.
• If you have rental properties and are employed, than we will complete a rental statement and again there is no need for a full set of accounts.
• If you have various sources of income or have a large amount of sales invoices, purchase invoices and bank transactions, it is more likely that we will need to produce a set of accounts to enable us to produce your tax return.

Cessation Accounts

Cessation Accounts are usually needed when a business ceases trading. They provide the owner or director with vital information with regards to how much is owed in and out of the business.

‘Trading being ceased’ can sound negative but Cessation Accounts can be constructed for businesses that are growing and becoming a Limited Company  or the owner has sold the business and is moving forward with another business or trade.

 

Management Accounts

There are no legal requirements to prepare Management Accounts, although it is becoming increasingly difficult to run a business effectively without them. They can aid you to make appropriate and concise management decisions about your business by providing you with accurate and relevant information.

Depending on the areas that are important in a Company the Management Accounts can be tailored to suit individual requirements, such as looking at;

The Companies Sales Process – Pricing, Distribution and Debtors
The Purchasing Process – such as Stock Records and Creditors
The Fixed Assets Register – details of all Fixed Assets, including Cost and Date of Purchase.

We will look at historical performance as well as forward plan using techniques called forecasting and budgetting which look at elements such as sales, cashflow cashflow and profit.

 

Reference Accounts

We are often asked to produce a set of accounts for many different reasons. It could be that a landlord needs to know a person’s income in order to make the decision to rent to them or a mortgage company would like a set of accounts regarding a person’s financial situation to enable them to lend money.

Whatever the reason, we can compile your information into a structured set of accounts to enable you to present them in an informative and professional manner.

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