Accounts Preparation in Southend

for companies of all sizes and in line with all best practices

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Company Accounts Preparation in Southend

Preparing company accounts can be one of the most stressful times of the year for business owners. Many aspects of account preparation can be particularly confusing, plus it requires a large investment of time to complete them properly. With that in mind, would it not make sense to give the entire job to a professional?

At MCL Accountants, we’re experienced in the preparation of company accounts for a range of businesses, from small local enterprises to large national and multinational companies. We’ll complete your accounts in accordance with all FRS102 Sec1A or FRS105 for Micro Entities requirements, plus we’ll utilise all best practices.

The end results are company accounts that are prepared professionally and that provide an accurate financial summary of your business.

Before we talk about how we can help, it’s important to answer this question: what exactly are company accounts? Quite simply, it’s a requirement that all limited companies file their accounts with Companies House and HMRC every year. They provide a summary of the company’s financial activity over 12 months and these accounts are used to prepare Corporation tax computations to ascertain the exact amount of tax payable to HMRC. Company accounts also provide a public record of a company’s state of affairs – a legal requirement that all companies must meet.

In order to prepare your accounts, we will need records of all financial transactions, both incoming and outgoing. We will also need bank statements from the year in question. Many companies now use specialist accounting software, such as Xero & Quickbooks, and providing access to this software makes the job of account preparation much simpler and therefore significantly less time consuming.

We will handle the process of creating your accounts from the very beginning, and when they’re ready for submission, we’ll send them straight to Companies House and HMRC.

Preparing Your Company Accounts For Your Southend Business

Why Work with a Southend-based Accountant?

There are many advantages to working alongside a professional accountant when preparing your company’s accounts. Despite this, many still choose to attempt the task themselves, which often results in records that don’t paint an accurate picture of their business.

At MCL Accountants, we prepare accounts to the highest standards, in line with all regulations. The benefits of working with us include:

  • – Financial preparation. It’s vital that every business owner has an accurate record of their financial state. By doing so, it will be far easier to fully evaluate your business and gain a complete view of all financial comings and goings.
  • – Reduce tax liability. When many people attempt their own company accounts, they don’t usually understand the entire process. The result is them paying more corporation tax than necessary. At MCL, we’ll make sure you pay the least tax possible while remaining within the law.
  • – Enhance performance. By having correctly compiled accounts, you can give yourself a proper overview of your entire business, helping you to make major strategic decisions and strengthen your organisation as a whole.

While it might seem like working with an accountancy firm is expensive, we would instead encourage you to think of it as an investment. Why? Because our expertise will ultimately ensure you save money, not spend it.

Are you searching for a well-respected, yet affordable accountancy firm in Southend to provide assistance with your company accounts preparation? If so, we’d urge you to contact us today. We have options to suit businesses of all shapes and sizes, and the experience to deal with even the most complex accounts.

Why not call us today to find out how we can help you? Alternatively, send us an email via our contact form.

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Company Accounts Preparation FAQs

Got a question about company accounts preparation in Southend-on-Sea? If so, you might find the answer you’re looking for in the FAQs below.

All companies registered in the UK have a legal requirement to prepare financial accounts, even if the company in question has not yet begun trading or is dormant. Sole traders and partnerships do not need to file financial accounts with companies house, but they are instead required to complete an annual self-assessment tax return & submit it to HMRC.

Yes, you can submit your own accounts. However, we would strongly advise against doing so, as accounts require a level of knowledge and skill to complete accurately. By completing company accounts yourself, you could unintentionally provide incorrect information in a legal document. What’s more, you could find yourself paying more tax than you really owe.

You must submit accounts to Companies House within nine months of the end of your financial year, and to HMRC within 12 months of the end of your financial year. Should you fail to file your accounts on time, you are liable to face financial penalties.

While we are based in Southend-on-Sea, we also welcome clients from throughout Essex and Greater London. Current clients come from a range of towns and cities, including Chelmsford, Basildon, Brentwood, Romford and Grays.

We tailor our packages to suit your individual needs, ensuring you always get the best deal. To find out more, please contact one of our team members, who will be happy to provide you with a free, no-obligation quote.

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

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MCL Chartered Accountants