Annual Accounts and Management Accounts in the UK

As in all matters, our approach to Annual Accounts and Management Accounts in the UK is to provide as much or as little support as you feel you need. You will find us working with you, in order to gain a full understanding of your Annual Accounts and business. And how you want to run it. You will then get the most appropriate services, which will be tailored to your needs.

We will offer the most optimal and cost-effective accountancy services and set them up for you. You will receive from us, as much support as you feel you need. You can then call upon us when you need to.

If you would rather not carry out the bookkeeping yourself, we can provide a number of reliable and cost-effective bookkeepers. Winning Business Mentoring can also work closely with you, to relieve you and your staff from the burdens of in-house bookkeeping.

As well as year-end accounts, we are strong believers in the benefits of periodic management accounts, to enable you to monitor the performance and progress of your business. Management accounts are usually vital for limited companies who need to quantify their post-tax profits during the year, in order to enable them to declare a lawful dividend to the directors and shareholders. HM Revenue and Customs (HMRC) are very hot on excessive dividends being paid by companies. HMRC will often take action against companies where, it is later shown, there are insufficient post-tax profits to support these dividends.

For sole traders and partnerships, you will receive, at a minimum, annual accounts. We will submit the figures to HMRC as part of the individual’s and partners’ self-assessment tax returns.

For limited companies, we produce and file with HMRC the full statutory accounts. We also file with Companies House shorter, abbreviated accounts.

After the annual accounts have been signed off, we will ensure that the year-end accounting adjustments are made to your accounting system so that it properly reflects the figures in the annual accounts.

Annual Accounts

For Limited companies, Charities and Partnerships, we offer:

  • Review all annual transactions
  • Corrections wherever necessary
  • Computation of taxes
  • Electronic filing with Companies House and HMRC

 All businesses, even those not trading, are required by law to file their accounts every year.

Management Accounts

Our services include:

  • Check accuracy of monthly transactions
  • Bank account reconciliation
  • Fixed Assets and Depreciation Journals
  • Accruals and Prepayments Journals
  • Posting of Payroll Journals
  • Balance sheet reconciliations
  • Variance Analysis against budget
  • Management Account
  • Presentation of Management Accounts to the business

If you’d like us to quote you regarding your Annual and Management Accounts in Canada, Europe, the UK, or the USA, please complete the following details and we’ll be in touch as soon as possible!