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- Reducing Redundancy
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- Improving Communication
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- Handling of employment
- Greater retention rates
- A fully engaged workforce
Company Annual Accounts Services London
Every business has to prepare and file accounts to cater its statutory compliance needs. However, there are several other reasons why shareholders and directors must have precise and up-to-date information on accounts. After all, Cashflow and profit are the lifeblood of every business. You’ll see MintAccountax as a company annual accounts services London.
Annual Report and Accounts Services
Mint Accountax can assist you in balancing the sheets for the most basic form of profit and loss accounts as well as highly bespoke management accounts. You can get assistance to manage your business and keep it healthy, whether you need financial projection or other forms of assessments (measuring, monitoring and reporting).. Along with all such services, MintAccounts is good at providing annual accounts services to you. Generally, SME business clients start with a basic question of what type of accounts they should have and prepare. The answer is very simple, all the companies must prepare full annual accounts for Companies House and HMRC. Though there are some exceptions for ‘small’ and dormant companies.
Company Accounts
Most companies residing in the UK come under the category of small businesses as defined by the HMRC definition. A business is small if it satisfies 2 out of 3 following points:-
- 50 employees or less
- Balance sheet of £5.1 million or less
- Turnover of £10.2 million or less
Statutory Accounts
What are statutory accounts?
Statutory accounts are essential for your business and it helps you run the company accounts smoothly. It helps you keep your records updated with Companies House and shareholders can see how the company is performing.
Statutory accounts include several important figures of your business and most of the time are referred to as annual accounts. In addition, you could even get an idea about your competitors if you know what and where to look for such details as it includes in statutory obligations.
Statutory accounts of a company must include cash flow statement, a profit and loss account, notes, a balance sheet and a directors’ report.
If you are planing for preparing statutory accounts of a company, it must include cash flow statement, a profit and loss account, notes, a balance sheet and a directors’ report.
As a business, you have to file the first accounts within 21 months after you have registered the business with annual accounts companies House. After that, you have to submit it annually within nine months once your company’s financial year ends.
You may have to pay a fine up to £1,500 if you file late and the amount of fine depends on how long the delay is.
Understanding Company Accounts
Stable and successful businesses that are well-run tend to keep a close eye on their accounts and financials. For such purposes, you should have a clear idea of financial projections to run your business smartly. However, getting your accounts prepared by a competent bookkeeper or accountant doesn’t mean you shouldn’t worry about them. If you want to run a healthy business, you must be aware of the figures that are put together by the accountant.
By this, we don’t mean that you should know how much you are earning and how much money is coming in. Although that’s a basic thing you must understand, there are several other factors as well.
Your company accounts can throw light on many other factors and measures. Aside from profit and loss, you can know about warning signs of future troubles, measures of efficiency, and/or inefficiency or success.
We offer advice and training to you so that you can better understand financial reports and concepts. Plus, we provide accounting services London and guidance regarding software that is commonly used to record information.
What About The Profit & Loss Account?
In the UK, small companies only have to file a balance sheet as a statutory obligation. However, without a profit and loss account, you can’t start working on a balance sheet.
This (Profit and Loss account) is nothing but a basic trading summary of your small business. It indicates how much you have spent running your company and how much has been sold.
Adjustments To Final Company Accounts From Profit And Loss
You have to adjust the profit and loss statement in order to reflect other tax-related and/or financial aspects, which usually involves a Balance Sheet and Cash Flow statement.
In order to prepare and file your annual statutory accounts, our Accountants will need financial information shortly after the end of your tax year. This is something that our Business Consultants can help you with to ensure accurate collection of the data.
You can ask to prepare the financial data that we will collect from bank statements and original invoices. If you have already compiled it in excel files, our accountants are always happy to work with your own bookkeeping records.
Year-end Accounts
Our team of hard work accountants in London team can prepare a statutory accounts draft within a week after, once the data is collected. You can also get an estimation of your corporation tax liability based on this data. We help you build the payment into your cash flow model by tackling your account process after the financial year-end. Our accountant team calculates your corporation tax in the same time frame to ensure you get a better idea of your accounts.
Commercial Insight
Our Commercial Managers and Accounts team will provide you with a detailed “Commercial Insight” report as soon as your statutory accounts are completed. This insight report usually comprises actionable commercial guidance that will help you improve growth and will increase your profitability. Thus, we provide our clients a chance to identify and exploit competitive advantages. Get in touch with our expert accountants in London.
Sustainable Growth
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Showing You
The Way of Success
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- Cost-Effective Services
- Helps Reduce Business Risks
- Management of Employee Performance
- Increasing Company’s Agility
Why Creote
Affordable & Flexible
Must explain too you how all this mistaken idea of denouncing pleasures praising pain was born and we will give you complete account of the system the actual teachings of the great explorer.
- Cost-Effective Services
- Helps Reduce Business Risks
- Management of Employee Performance
- Increasing Company’s Agility
Why Creote
Affordable & Flexible
Must explain too you how all this mistaken idea of denouncing pleasures praising pain was born and we will give you complete account of the system the actual teachings of the great explorer.
- Cost-Effective Services
- Helps Reduce Business Risks
- Management of Employee Performance
- Increasing Company’s Agility
Perfect for Small & Lare Brands
Mint Dormant Package
£100 (Annual Charge)
£100
- Preparation & Filing of Annual Accounts to Companies House
- This package is for Companies that is dormant during the financial year.
Mint Pro Package
£450 (Annual Charge)
£450
- Preparation & Filing of Annual Accounts to Companies House.
- Preparation & Filing of CT600 to HMRC.
- This Package is for Companies having turnover less than £50,000.
Mint Premium Package
£650 (Annual Charge)
£650
- Preparation & Filing of Annual Accounts to Companies House.
- Preparation & Filing of CT600 to HMRC.
- This Package is for Companies having turnover more than £50,000
Bronze Package
Pricing plan for startup company
149
- Collaboration with up to 10 users
- Collaboration with up to 10 users
Bronze Package
Pricing plan for startup company
149
- Collaboration with up to 10 users
- Collaboration with up to 10 users
Bronze Package
Pricing plan for startup company
149
- Collaboration with up to 10 users
- Collaboration with up to 10 users
Business Partners
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- What means annual account?
-
The company accounts provide a summary of financial performance for 12 months. They are required for income tax returns filing. Each year they include a balance sheet and cash flow statements.
- Why are annual reports important?
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Annual reports should serve two purposes. They help to generate ideas and make investment decisions. Second, they identify red flags and early warning signs of trouble, even when all seems well. Annual reports are like an anchor for your investment decisions.
- What are the 4 components of an annual report?
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These include
- income statement
- balance sheet
- statement cash flows
- statement of stockholder's equity and statement of changes.
Management is responsible for the information in the financial statements. It will be subject to external audit verification.
- What is the most important part of an annual report?
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The most important part of an annual report is the financial statements. They allow current and future shareholders, shareholders, employees, and other stakeholders to assess how the company performed in the past, its ability pay its debts, and its growth plans.
