Year End Statutory Accounts

Every busi­ness, whether it be a sole trad­er, part­ner­ship, com­pa­ny, LLP, or char­i­ty, is required to pre­pare a set of year end accounts. Sole trad­er and part­ner­ship accounts are lodged with HM Rev­enue and Cus­toms, along with your indi­vid­ual tax returns. If you are a lim­it­ed com­pa­ny or an LLP then you are required to pre­pare accounts that must be filed with Com­pa­nies House in a statu­to­ry for­mat. Whilst char­i­ty accounts will have to be lodged with the rel­e­vant gov­ern­ing body

What­ev­er busi­ness you are we can help you by prepar­ing your statu­to­ry accounts, in the cor­rect for­mat, and fil­ing them accord­ing­ly.

As well as meet­ing with you through­out the year we also believe it is impor­tant to meet every year end to dis­cuss the year end results. It’s a good time to mon­i­tor the pri­or year’s per­for­mance and to deter­mine what tar­gets were achieved. It can also help you to set bud­gets and tar­gets for the next year and allow us to proac­tive­ly work with you on any tax plan­ning issues.

To find out more please call 0141 332 6331 or email mail@russell-russell.co.uk

Audit

If you are a lim­it­ed com­pa­ny and you meet two of the fol­low­ing cri­te­ria then you are enti­tled to an audit exemp­tion:

• Annu­al turnover is no more than £15 mil­lion
• Bal­ance sheet is no more than £7.5 mil­lion
• Num­ber of employ­ees less than 50

If you do not meet two of these cri­te­ria then it is a legal require­ment to have your annu­al statu­to­ry accounts audit­ed. How­ev­er, in some instances, even if the com­pa­ny qual­i­fies for audit exemp­tion there could still be occa­sions when you are required to have an audit. You can also have an annu­al audit vol­un­tar­i­ly.

Whilst we no longer offer audit we do work close­ly with oth­er firms to reduce the bur­den for you as an own­er.

To find out more please call 0141 332 6331 or email mail@russell-russell.co.uk