McColes & Co (Herts) Ltd

Annual Accounts

Colleagues looking at financial reports

We can prepare your annual accounts, ensuring you meet all legal requirements

Annual accounts (also called statutory accounts or financial statements ) need to be prepared every year and demonstrate the financial performance of a business over the past 12 months.  All businesses are required to produce annual accounts.  Even if your company isn’t trading, you will still need to send accounts to Companies House to avoid a filing penalty.

Annual accounts must comply with HMRC regulations and include the following:

  • a balance sheet documenting the value of everything the company owns, owes and is owed on the last day of the financial year
  • a profit and loss account showing sales, running costs and the profit or loss over the past 12 months
  • notes about the accounts
  • a director’s report

(N.B. Larger companies may also be required to provide an auditor’s report.)

All of the reporting must meet certain accounting standards.

At McColes and Co we can prepare your annual accounts and ensure you meet all of the legal obligations.

Contact us to arrange a free consultation meeting.

Book your FREE consultation today