Financial Accounts and Accounts Preparation

Every trading entity in the UK, whether you’re are a sole trader or partnership, is required to report to HM Revenue & Customs (HMRC) detailing its trading activities within the last accounting period. Not only are annual accounts preparations a necessity in satisfying your reporting responsibilities, they are also an invaluable resource in providing an assessment on how your business is progressing and its financial stability.

Sole Trader & Partnership
As a sole trader or partnership you’re required to prepare a year-end set of accounts, the complexity of these accounts will be governed by the level of trading and other factors such level of staff, VAT registration, bank loans, finance agreements, amongst many others.

These services in accordance with this are;

  • • Drafting up trial balance and balance sheets.

  • •Producing profit and loss accounts.

  • • Completing and submitting tax returns online or paper form.

  • • Aiding in calculation of tax payable or repayable.

  • • Providing letters supported by accounts to be used in applying for mortgages, short/long term loans and visa applications.