What is the regulatory requirement?
Currently, companies that are incorporated under the Companies Act 2006 need to file annual accounts at Companies House within 9 months of their period end, or face penalties. This includes Community Interest Companies. The accounts should comply with:
- The accounting requirements of the Companies Act 2006
- UK GAAP and applicable accounting standards
Companies that are charities have to prepare Charity SORP accounts.
Where a company has a subsidiary it may be required to prepare group consolidated accounts dependent on what size it is. If this is the case it does not need to prepare its own separate company accounts. The subsidiary company needs to prepare separate company accounts.
Why use Slade & Cooper for accounts preparation?
- We always strive to ensure that our accounts are accurate – for example reconciling the payroll to the accounts and checking for accruals and prepayments.
- Having an accountant’s report attached to your accounts can give readers of the accounts more confidence.
- If we are also doing your audit there is a significant cost saving because some of the audit work is covered as part of the accounts preparation.
- We can also prepare your corporation tax return including iXBRL tagging of the accounts.
- We will advise you regarding any VAT or PAYE compliance issues or any issues regarding your governance or financial procedures that become apparent during the preparation of the accounts.
- We aim to provide a good value service – see our pricing policy.