Annual Accounting

Preparation and filing of annual accounts

The backbone of any accountancy practice has and will remain the preparation and filing of annual accounts both with HM Revenue & Customs and for corporate entities, Companies House as well. For charities there will also be filing with the Charities Commission.

In theory, this can often be done without the need of a professional. But, there is a need to file such returns using a whole host of legal reporting standard and specific online filing protocols. Failure to follow these rules could lead to financial penalties.

The investment we have made in our software solutions will ensure we are always in a position, once accounts are completed and approved by you, to “press the button” and know your accounts are filed on time, compliantly and safely.

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An Accounting story

A few years ago we took over the work of a charity where an independent examination was required. The charity wanted to increase their profile but when we looked at the data provided both at Companies House and the Charities Commission we found it was well short of being compliant. The first drafts were prepared and it took a while to convince the Chairman that the different level of reporting was required. However, eventually we persuaded him that our version was in order and compliant accounts were filed accordingly.