Accounts preparation

The problem

Changes in accounting standards and Companies Act regulations mean that producing statutory accounts that are fully compliant and in order to meet filing deadlines is not a straightforward exercise.  In addition to this, independence regulations have also dictated that audit firms can no longer take such an active involvement in assisting with accounts preparation.

Businesses can not justify having their own resources dedciated to preparing statutory accounts, particularly at a time when many of them are trying to reduce costs.  However if statutory accounts are not prepared correctly or if they are not prepared on time then extra cost can be incurred in the form of additional audit fees or late filing penalties.

The solution

We offer a service of preparing your statutory accounts in full.  We use market leading software to produce the statutory accounts which is regularly updated to ensure full compliance with the latest accounting standards and regulations.  We also have many years experience of preparing statutory accounts for audit and meeting client's account preparation timetables.

We take the data you provide, usally in the form of a trial balance from your accounting system, and prepare draft accounts for your review.  In addition to the draft accounts we provide an extensive list of information that we will require in order to complete the accounts along with guidance of what is required.

After making any required amendments as a result of your review, auditor review and tax finalisation, we will email you the completed accounts in pdf format for signature.  We will also provide the accounts in iXBRL format for accompanying the corporation tax return.

Our fee for providing this service depends on number of sets of accounts required and the complexity of the required disclosures. Please feel free to contact us for a quotation.

If you have already preapred your statutory accounts and only need the accounts to be converted into iXBRL the we also offer an iXBRL conversion service.