End of Year Accounts
Annual accounts are an essential tool for any business, whether you are a sole trader who needs accounts to obtain a mortgage, a small to medium business owner looking for finance, or a Limited company who needs their accounts produced as a statutory requirement for HMRC and Companies House. Annual accounts are a legal requirement for a limited company and must be submitted to
Companies House to go on public record. They must also be submitted to HMRC with the year end corporation tax return. Therefore, a set of year end accounts is vital in assessing the performance of your business, tracking profitability, monitoring costs, as well as ensuring compliance with Inland Revenue and VAT regulations. Audit and Assurance
In the purest sense, auditors assess a set of company accounts to determine if they are a true and fair representation of a company's affairs on the accounts date. Audited accounts help to raise confidence with stakeholders and funding sources. Any UK company that earns over £10.5million in revenue is required to complete an audit by law. The audit provides assurance to the users of the accounts that an independent third party (the auditor) has examined the accounts and agrees with them. Audit not only helps businesses meet all statutory requirements, it also helps to identify areas of weakness within a business and offer advice including introducing effective measures and controls. Chappell Associates provide a thorough and professional audit, carried out speedily with the minimum of disruption and at a competitive price.
