Year-End Accounts

Guarantee compliance with your year-end tax accounts.

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Year-End Diamond

Are you a director/owner of the limited company but find the UK accounting standards lengthy and intimidating? Are you concerned about providing either too little or too much information in the public domain? Our specialist team in the UK can assist you.

With our advanced knowledge of the relevant regulations, we can help you determine the best standards and policies to follow. We'll guide you on the recommended level of disclosure, ensuring the right amount of information is provided while safeguarding your personal interests.

Accountancy

Understanding Statutory Accounts

Statutory accounts refer to financial statements that must be prepared and submitted to Companies House and HMRC. Typically covering a one-year period, these accounts are required to be filed within nine months after the end of that specific period.

The key components of a financial statement are:

  • A directors’ report: this states the directors’ view of the company position and how it conforms with the financial reporting standards
  • A profit and loss statement: showing the income and expenditure incurred by a company during the period
  • Balance Sheet: Reflects the company's assets, liabilities, and equity at the conclusion of the accounting period.
  • Notes to the Accounts: Provides insight into the adopted accounting policies and offers detailed information explaining the figures in the profit and loss and balance sheet.

Our approach

Leewop offers a comprehensive accountancy service ensuring that your accounts are in good hands. We talk to you through the process providing specialist advice tailored to your needs, giving you the ability the prioritise what matters most, the day-to-day running of your business.


How can we help?

Preparing statutory accounts suitable for filing at Companies House and HMRC

With our many years of experience, we will prepare your accounts in the correct format and disclose the correct amount of information, giving you peace of mind. During the process, we will provide updated guidance on what is required to be filed, protecting personal information such as dividends declarations. Using our state-of-the-art accounting production system, we can easily prepare the accounts for your review and signature before filing the documents at Companies House and HMRC electronically, reducing the worry of accounts being lost in the post and associated penalties.


Selecting Appropriate Accounting Standards

Leveraging our familiarity with UK general accounting standards, we can assist you in identifying the suitable accounting standards for your business. Options may include:

  • FRS101
    This closely resembles the EU-adopted IFRS but offers exemptions for reduced disclosure. It is particularly suitable for companies with subsidiaries that would otherwise be required to adhere to IFRS standards.
  • FRS102
    The primary UK accounting standards applicable to all companies. FRS102 1A also offers a reduced disclosure framework for small companies.
  • FRS105
    The UK accounting standard specifically designed for micro-entity companies.

Whatever you choose, we will ensure it is right for you.


Assist in choosing the right accounting policies for your business

With our understanding of businesses across a variety of sectors, we can help choose suitable policies related to the following (among other areas):

  • Goodwill and other intangibles capitalisation
  • Tangible fixed asset capitalisation
  • Depreciation and amortisation charges
  • Inventory valuation
  • Bad debts provision
  • Warranty provision
  • Work-in-progress valuation
  • Long-term contract valuation

Important Dates for filing Limited Company Accounts

There are some important dates as with filing your accounts:

  • Companies House requires accounts to be filed within 9 months from the end of the accounting reference date
  • Corporation tax return must be filed within 12 months from the end of the accounting reference date and must be paid within 9 months and one day from the end of the accounting reference date

Why opt for Leewop for your
year-end accounts?

Managing the administration for your business can be intricate and time-consuming. Leewop, however, can handle all the necessary tasks on your behalf. We ensure that you operate in the most efficient and compliant way to meet ongoing regulations.

Our primary focus is on building long-term relationships and providing our clients with the best advice. Beyond year-end accounts services, we help you identify strengths and weaknesses within your business. By tailoring our services to your business needs, we meet expectations, maintain deadlines, and handle the legwork for you.

  • A single point of contact for all of your enquiries
  • A service that is tailor-made for you
  • Quick response time
  • Business heritage dating back over 120 years
  • UK-based accountants with national and international reach
  • Saving you valuable time with technology solutions
  • Hands-on partners who give you the best advice

With Leewop, your business not only stays compliant with laws and regulations but also benefits from our team recognizing operational areas for improvement. This includes better structures and leveraging technology to bring down costs and increase efficiencies.

What’s next?

Arrange a consultation to find out how we can help you. Call us today on +92 302 4012116 or email contact@leewopconsultancy.com.

Talk to Our Team

Transitioning to Leewop from your current accountant is a swift and straightforward process.

Leewop is a prominent accountancy practice in the UK, catering to clients nationwide. Regardless of your location, we are here to assist you. We will allocate an accountant to help you grow your business and enhance its efficiency. Contact us to discover how we can assist you today.

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