Year-end Accounts Gravesend
Accountants and preparation for companies and sole traders in Gravesend.
What are Year-end Accounts
We offer the following year end accounting services:
- Preparation of statutory accounts for Limited Companies
- Preparation of statutory accounts for Limited Liability Partnerships
- Accounts for Sole Traders
- Accounts for unincorporated Partnerships
Year-end in terms of company accountants refers to the end of the financial end of a year. The year-end accounts are a summary of a company’s performance across the financial year. This normally includes directors’ report, balance sheet, profit and loss statement and explanatory notes.
This is where accountants come in, we handle all of this for businesses so you can focus on running things.
We make sure all of these accounts along with the company tax return, comply with HMRC.
Preparing for your companies year end accounts
Your companies year end or annual accounts are called the “statutory accounts”, these are made from the companies financial records at the end of your financial year.
When running a company you must keep track of the company’s records and financial accounts. We recommend hiring a professional accountant like Clayton Stirling & Co to do this for you.
What records a company must keep
- directors, shareholders and company secretaries
- the results of any shareholder votes and resolutions
- promises for the company to repay loans at a specific date in the future (‘debentures’) and who they must be paid back to
- promises the company makes for payments if something goes wrong and it’s the company’s fault (‘indemnities’)
- transactions when someone buys shares in the company
- loans or mortgages secured against the company’s assets
This info comes the HMRC website.
What accounting records should my company keep?
- all money received and spent by the company, including grants and payments from coronavirus (COVID-19) support schemes
- details of assets owned by the company
- debts the company owes or is owed
- stock the company owns at the end of the financial year
- the stocktakings you used to work out the stock figure
- all goods bought and sold
- who you bought and sold them to and from (unless you run a retail business)