Accounts Preparation

for companies of all sizes in Essex

Company Accounts Preparation in Essex

It’s that time of year again, when you know you need to prepare your company accounts for the taxman. Preparing these accounts can be a complex process, as well as a lengthy one, so wouldn’t you rather hand the entire job to a professional?

When you engage MCL to prepare your company’s accounts, you can be sure you’re working with experts. We’ll carry out account preparation in line with all best practices and ensure that they’re prepared in line with Financial Reporting Standards applicable to your business whether it be FRS102 Sec1A or FRS105 for Micro Entities. The result? Your accounts are prepared in the perfect way, plus you’re left free to concentrate on what you’re good at – running your business.

Company accounts are a report on all aspects of a business. Regardless of whether a business is a small one-man operation or a multinational conglomerate, accounts must be filed. The main reason for the filing of accounts is to inform HMRC of any corporation tax payable. The other reason is that the company must show a public record demonstrating their state of affairs and file accounts annually with companies house.

But what will we need to prepare your accounts? Well, we’ll need records of all payments and receipts, along with the bank statements of your company. Many businesses now use software such as Quickbooks or Xero, and the use of these makes the preparation of accounts that much easier, as well as more accurate.

Once all accounts have been prepared, we’ll send them to you for your review. The accounts can then be sent to Companies House & HMRC.

Preparing Your Company Accounts

Why Use MCL for Your Accounts Preparation in Essex?

Many are lulled into the false belief that they can complete company accounts themselves. Unfortunately, this is not always true, and even if they do manage to submit them, they often omit hugely important considerations.

At MCL Accountants, we ensure everything is completed properly, in line with all rules and regulations. Working with a professional accountant also has other benefits for your business, namely:

– Boosting performance. Properly carried out accounts enable you to evaluate your business from the top down. You can identify any poorly performing sectors of your business and make necessary improvements.
– Minimising tax. Calculating your corporation tax payment isn’t simple and many people doing their own accounts end up overpaying. We’ll use our expertise to minimise your tax liability, without incurring the wrath of the taxman.
– Being prepared. Having a professional complete your accounts means that you can be prepared financially. You’ll know exactly how much you owe in tax and exactly how much you’ve earned.

Overall, you should think of working with an accountant as an investment, not an expense. When you work with us, the savings you make will nearly always outweigh the money you spend.

At MCL, we work with companies of all sizes throughout Essex and London. We have a plan to suit every business, including yours, so why not call us today to find out more?

Alternatively, send us an email via our contact form. Our friendly team members look forward to speaking with you!

Get Your Taxes Prepared by a Professional

Company Accounts Preparation FAQs

Got a question you need answering about the preparation of your company’s accounts or about the service we provide? If so, take a look below and you could find the answer you’re looking for.

Which companies need to prepare financial accounts?

Financial accounts must be prepared by every company registered in the UK. This is even the case if a company is yet to start trading or is dormant as they will need to submit dormant accounts. However, sole traders and partnerships are not required to prepare financial accounts for filing with companies house & they only need to prepare & file their self-assessment tax returns with Hmrc. If in any doubt, please contact us for more information about the obligations your business is under to prepare accounts.

Can I submit my own company accounts?

Yes, you can, but we do not recommend it. You must remember that accounts are a legal document and that they can be investigated by HMRC. Also, you could end up paying more tax than you should if you prepare your own accounts. Therefore, it makes sense to have them prepared properly by a qualified professional.

When must company accounts be submitted by?

Company accounts must be submitted to Companies House within nine months of the end of the company’s financial year-end, and to HMRC within 12 months of the year-end. You face financial penalties if you do not submit your accounts on time.

What areas does MCL Accountants cover?

We are based in Southend-on-Sea, but we work with clients from all over Essex and London. Our clients come from towns and cities including Leigh-on-sea, Thorpe Bay, Rochford, Shoeburyness, Basildon, Brentwood, Chelmsford, Maldon, Colchester, Romford, Harwich and more.

How much does company accounts preparation cost?

This really depends on the size and scope of your business. However, we pride ourselves in providing the highest quality of service for competitive prices. Please contact us today and we can discuss this with you and provide you with a fixed fee quote for our service.

Get in touch if you need further advice, have any questions about our company accounts preparation service or would like a FREE consultation