Taxation and accounting requirements can be somewhat of a minefield - let us guide you through the process.
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Annual Accounts Services
Annual accounts production is one of our specialities. Every company is required to produce a set of accounts annually for presentation to its shareholders and to statutory bodies like; HM Revenue & Customs and Companies House. The filing of such information has to be completed within statutory filing deadlines. Failure to comply will result in heavy fines which escalate with time.
At Brearley & Co, we understand the importance of accurate and timely financial reporting. As business owners, you have a legal obligation to submit annual accounts and the corporation tax return to Companies House and HMRC within nine months of the end of your financial year. However, navigating this complex process requires professional expertise and specialised systems, which are typically found within recognised accounting firms like ours.
What we do
We prioritise accuracy in our work, as knowingly submitting inaccurate accounts is not only unethical but also illegal. Inaccurate accounts can have a significant impact on the amount of corporation tax your business pays. Moreover, banks, investors, and other external parties evaluate your business's financial statements when considering lending, investing, or partnering with your organisation.
To ensure compliance and avoid penalties, it is crucial to partner with a reliable accounting firm like Brearley & Co. We have the knowledge and experience to assist you in preparing and submitting accurate annual accounts and corporation tax returns on time. By entrusting your financial reporting to us, you can focus on running your business with confidence, knowing that your accounting needs are in capable hands.
Remember, failure to file accurate information or meet the filing deadline for your year-end accounts can result in fines for your business. Safeguard your financial reputation and maintain compliance by partnering with Brearley & Co, your trusted accounting advisors.
With our systems and expertise, we can work with your chosen accounting software regardless. We will deliver work to the highest standards. All accounts prepared are IXBRL compatible and meet all the filing requirements for the latest Company Act.
Both interim and annual financial statements can be prepared for private companies as well as for companies limited by guarantee and LLP partnerships. Our clients cover all aspects of commerce, agriculture, and industry.
You should look on your accounts as not just a ‘chore’ but a great opportunity to examine your business performance comparing to that of previous years. You will receive from us with all accounts prepared detailed analysis including the taxation due on the profits. We will also highlight discussion points on areas we feel require attention or can possibly be improved upon.
Our annual accounts team in Rotherham and Sheffield will compile all relevant financial reports in line with current legislation under the relevant Companies Act sections ensuring all reporting exemptions are applied where necessary.
Full and abbreviated versions are available for filing at Companies House and HM Revenue & Customs as well as bound copies for the client’s retention. Our document exchange package allows all our clients to confidentially view their current and previous accounts online from our cloud website database.
Contact UsWhy choose Brearley & Co for your accounts?
Our existing clients already know the benefits of working with us. But here are just a few of the benefits of choosing Brearley & Co for your annual accounts.
- 100% compliant – accounts that are deemed inaccurate can incur fines from HMRC. Brearley & Co clients don’t need to worry
- Tax-efficient – we make sure you’re paying the right amount of tax first time and every time
- A personal (and hassle-free) experience – our team has decades of experiences working with businesses just like yours. Relax, you’re in good hands
Who do we work with?
Brearley & Co offers full-service accounting support for businesses of all sizes, including sole traders, SMEs, and large corporations. With hundreds of satisfied clients, we provide a comprehensive range of services, from bookkeeping and self-assessment to VAT compliance, annual company accounts, and long-term financial and tax strategic planning.
What sets us apart is our industry-specific expertise. Our clients span various sectors, and they choose us because we understand the unique accounting challenges associated with each industry.
Partner with Brearley & Co for reliable and tailored accounting solutions that meet your business's needs. Trust our team to handle your financial reporting accurately and ensure compliance, allowing you to focus on what you do best.
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Annual accounts FAQs
Do sole traders have to produce annual accounts?
Yes, sole traders are required to produce annual accounts. These accounts summarise the financial performance and position of the business over a specific period, usually one year. They include details such as income, expenses, assets, liabilities, and capital. Annual accounts fulfil legal obligations, provide financial insights, and serve stakeholders like tax authorities, lenders, and potential investors. Seeking professional accounting help is recommended for accurate and compliant preparation of annual accounts.
When are annual accounts due?
In the United Kingdom, the deadline for submitting annual accounts depends on the type of business entity. For limited companies, directors must generally submit their annual accounts to Companies House and HMRC within nine months of the end of their financial year. However, it's crucial to note that this deadline can be subject to variations or extensions based on individual circumstances or specific filing requirements.
It is essential for businesses to stay informed about any updates or changes to the filing deadlines issued by the regulatory authorities. Seeking guidance from a qualified accountant or referring to the official guidelines provided by Companies House and HMRC is recommended to ensure compliance with the specific deadlines for submitting annual accounts in the UK.
Can I email my annual accounts to HMRC?
No, you cannot email your annual accounts to HMRC in the UK. The preferred method for submitting annual accounts is through the online platform called "Companies House WebFiling." This platform allows businesses to electronically file their annual accounts in the required format. Email submission is not accepted for annual accounts.
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How can we help you?
Brearley & Co Accountants are pleased to offer a free, no obligation, initial consultation with one of our experts who will be happy to discuss your business needs and how we can help you.
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