Every limited company has to prepare annual accounts and file them with Companies House. It is the one job that cannot be avoided, and the one most business owners would rather not think about until the deadline is close.
We prepare your statutory accounts properly, file them on time, and — more usefully — explain what they actually say about your business.
What’s included
- Preparation of statutory annual accounts in the correct format for your company’s size
- Filing with Companies House within the deadline
- Preparation of the figures needed for your Corporation Tax return
- A conversation about what the numbers show, not just a set of accounts to sign
- Reminders well ahead of the deadline, rather than the week before
The deadlines that matter
Your accounts are normally due at Companies House nine months after your year end. Your Corporation Tax payment is due nine months and one day after the end of the accounting period, and the tax return itself twelve months after.
That ordering catches people out: the tax is usually payable before the return is due, and late payment attracts interest automatically.
Why accounts prepared late cost you more
Accounts filed at the last minute are accounts you cannot act on. By the time they are signed, the year they describe is long finished and the next one is well under way.
Prepared earlier, the same figures tell you what your margin did, whether overheads grew faster than sales, and roughly what tax to set aside — while there is still time to do something about any of it.
There is also a direct cost to filing late. Companies House penalties start at £150 for a private company and increase the longer the delay runs, and they double if you file late two years running.
What we need from you
In most cases: access to your bookkeeping records, bank statements for the year, details of anything unusual, and answers to a handful of questions. If your records are kept in Xero, QuickBooks or Sage, we can usually work directly from them.
If your bookkeeping has fallen behind, say so at the outset. It is a normal situation, it is fixable, and it is much better dealt with early than discovered in month eight.
Who this suits
Limited companies of any size that want their accounts done properly and on time, and would rather understand them than simply sign them. If you also want to know how the business is performing during the year rather than after it, management accounts are the natural next step.
Compliance is important. Understanding your numbers is where the real value lies.
Common questions
When are my accounts actually due?
For a private limited company, normally nine months after your accounting reference date. Your first set is different — usually 21 months after incorporation. Companies House will show your filing deadline on the public register, and we will tell you well before it arrives.
Do I need an audit?
Most small companies do not. Audit thresholds are based on turnover, balance sheet total and employee numbers, and the large majority of owner-managed businesses sit comfortably below them. If you are approaching the thresholds, or a lender or investor requires one, we will tell you.
What happens if I file late?
Companies House issues an automatic penalty starting at £150 for a private company and rising with the length of the delay. File late two years running and the penalty doubles. The penalty is separate from anything HMRC charges on late tax.
Can you take over from my current accountant?
Yes, and it is a routine process. We write to them for professional clearance and the handover information, you authorise it, and in most cases it happens without any difficulty. The best time to move is usually just after a year end has been filed.
Book a consultation and we can talk through where your company is and what the year end involves.