Comprehensive Financial Accounts by Leading London Accountants
As a chartered accountancy firm, our accountants prepare comprehensive financial accounts. Our granular reports of companies' financial activity over a financial year allows you to relax, knowing that your company accounts are in order, and meet statutory requirements. Our accountants also prepare monthly or quarterly management accounts. These accounts are often matched to budgets and forecasts to provide management with reliable information so they can make informed business decisions. We do all the hard work for you, efficiently and accurately, leaving you to focus on other aspects of your business.
Annual Accounts For Sole Traders
We offer our accounting service to sole traders, the people who work for themselves. For example a local shopkeeper, plumber or
hairdresser. Our annual accounts can be in either Profit and Loss Account or Income and Expenditure Account format, together with Balance Sheet. The term sole trader refers to the ownership of the business; many sole traders we encounter also have employees, in which case we can hep also with your payroll.
Financial Accounts for Limited companies, LLPs (limited liability partnerships) and PLCs (public limited companies)
Why are annual accounts required to be filed on time?
Annual accounts must be filed on time in order to avoid penalties, improve your credit score and raise capital. They are also needed in order to accurately calculate and file the tax. Why do businesses need to produce accounting information in the form of financial statements?
If a business is being run efficiently, why should it have to go through all the bother of accounting procedures in order to produce financial information? A business should produce information about its activities because there are user groups who want or need to know that information in order to make economic decisions. Annual Accounting is just one of our comprehensive accounting services that our chartered accountants in London provide to help businesses flourish.
Annual Accounting for Partnerships
Partnerships occur when two or more people decide to share the risks and rewards of a business together. Examples include an accountancy, medical or legal practice. We can assist you in Accounting for your Partnership. A partnership can take one of two forms: a general partnership (like two or more sole traders) and a Limited Liability Partnership LLP (more like a company). All our Annual accounts to include Profit and Loss Account, Balance Sheet and Partners’ Capital Accounts.
Limited liability companies are incorporated to take advantage of ‘limited liability’ for their owners (shareholders). This means that, while sole traders (always) and partners (usually) are personally responsible for the amounts owed by their businesses, the owners (shareholders) of a limited liability
company are only responsible for the amount to be paid for their shares. All of Action Accountant's annual accounts comply with the Companies Act disclosure requirements.
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