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Statutory Accounts Preparation

Year end accounts are important.  Not just because they have to be filed by all limited companies and LLPs at Companies House but because they make a difference.  Accounts are available for public inspection.  Suppliers and customers will look at them.  Credit agencies will base their ratings on them.  They therefore need to be accurate and well presented.

The regulatory framework regarding accounts preparation has gone through a lot of change over recent years and is continuing to do so.  With International Financial Reporting Standards, UK GAAP, the newly introduced FRS102, Financial Reporting Standard For Smaller Entities and now the Financial Reporting Standard for Micro-Entities, keeping up to date has never been more complex and time consuming.  This can be a big distraction for your finance team who need to be focussed on running the business.

We can work with you to remove this distraction and to ensure you deliver a first class set of accounts which fully comply with all of the latest standards.  Our service can range from working with you to identify which standard applies to you, developing a pro-forma set of accounts for your finance team to complete through to preparing the complete set of accounts for you to review and approve.

FRS 102

Many companies are currently grappling with the conversion from UK GAAP to FRS 102.  Our specialist teams can help you with this transition by identifying where differences between the two standards exist and the additional information that will be needed on conversion.

To discuss your statutory accounts preparation requirements further, please contact one of our team or look at our Business News for articles and discussion.

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