Our accountants can help your business prepare and submit your Statutory Accounts to Companies House. We file correctly and on time so you avoid any penalties.
Statutory Accounts and Accounts Preparation
Statutory accounts, also known as annual accounts or financial statements, are required to be submitted to Companies House by all Limited Companies (“Limited” or “Ltd”), Public Limited Companies (“PLCs”), and Limited Liability Partnerships (“LLPs”) at every year-end.
They are reports that showcase everything your company owns, owes and is owed (balance sheet) as well as your turnover, costs and profitability (profit and loss account) over the financial year.
Why Choose DS Burge & Co Accountants?
At DS Burge & Co, our team of accountants are experts at helping business prepare and submit your documents to Companies House, ensuring they are filed correctly and filed on time so you avoid any penalties.
As part of our annual accounts preparation service, we don’t just submit them to Companies House on your behalf, we also help you better understand your company’s finances. We can also combine your statutory accounts filing with your Corporation Tax Return submission so know what to save up for your tax bill and can adjust your cash-flow accordingly.
From cash-flow to profit, we want to help you grow, and so we offer each and every customer a friendly, flexible and professional service customised to their individual needs.
We'll handle the headache and submit your Statutory Accounts for you
Schedule a free consultation with our specialists and make sure your statutory accounts are submitted accurately and on time
What are statutory accounts?
Limited companies must produce statutory accounts (annual accounts) every financial year. The level of detail isn’t granular, so it won’t include individual invoices or pay to specific individual(s).
This applies to all limited companies, whether your trading, non-trading or dormant you’re required to submit.
They are used to report your company’s financial information and should be sent to:
- Companies House
- HM Revenue and Customs (HMRC) as part of your Company Tax Return
- Limited company shareholders
- People who can go to the company’s general meetings
The annual accounts are set out in a specific format, defined by the Companies Act, so that they can be published on public record.
Have worked with DS Burge & Co for the past few years and could not recommend Kieran and his team more highly, always professional and always responsive!Richard A.
I've been using DS Burge & Co accountants for years and highly recommended their services. Very professional and efficient serviceDaniel M.
Very pleased with the service they have provided over the years. They have responded clearly and quickly to any issues we have had. They are good value for money. They are a professional service and we have had no problems with the Inland RevenueMark F.
Very efficient and easily accessible. Responds quickly to communication. I would recommend to others.Cath G.
I needed help completing my self-assessment tax return for the 2019-2020 fiscal year and DS Burge were great: very good value with friendly, professional service. I fully intend to use them again for my 2020-2021 tax return.Chris H.
Very Friendly and professional we are very happy with the service ThankyouTony F.
I’ve been working with the Team for over 30 years and can only compliment them on their service and supportKit M.
Had a great experience with DS Burge, and particularly Kieran. He made the process nice and easy and was a help throughout. Can't recommend highly enoughJason M.
It’s great working with Kieran and the team. Fast and efficient and extremely knowledgable.Marieke S.
Kieran and his team are the best accountants I've ever had! Their advice is always above and beyondHelene M.
I've been using DS Burge for many years and they have always provided a great service. I use them for my personal finances, and for two businesses also. Very knowledgeable in all areas, and always available and helpful.Julian W.
I have used this company for my tax returns for 2 years and will be using them again shortly. Very happy with the way they respond to my questions and deal with tax queries promptly.JOAN H.
Extremely knowledgeable, helpful and communitive. Inexpensive quality service. Highly recommended.Doyne-Ditmas M.
DS Burge & Co are an essential support. They are responsive, professional, practical and trustworthy. It is a pleasure dealing with every member of the team.Lucy B.
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When do your statutory accounts need to be filed with Companies House?
The deadline for submission of your first set of statutory accounts is 21 months after you first incorporate your limited company. After this, you are then required to submit your statutory accounts annually within 9 months after your company’s year-end.
Please note these annual accounts are different from your confirmation statement. The company’s confirmation statement is due after the company’s first year since its incorporation (your company’s first year-end) and once a year after that. The first set of statutory accounts are then due another 9 months after this period – 21 one months in total.
The deadline for these statutory accounts and your tax return are also different, however, we find most businesses want us to file them at the same time to simplify the process.
What is included in statutory annual accounts?
The information that your company is required to submit to Companies House varies depending on the size of your business.
Irrespective of your size, they must include:
- ‘Balance sheet’ – total value of its assets (what the company owns and is owed), total value of its liabilities (what the company owes)
- ‘Profit and loss account’ – Income, expenditure and resulting profits of the company
- Notes about the accounts – Providing more details of the figures above
- A director’s report (unless you’re a ‘micro-entity’)
Small and medium businesses don’t usually have to have an audit, however, please check the government’s advice on audit exemption for private limited companies.
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If you are considering switching accountants, we can help make the switch smooth, quick and hassle-free.
How to prepare statutory accounts?
Statutory accounts are prepared in a fairly generic format to make them easier to understand and compare.
Popular accounting software can help speed up the process of preparing your annual accounts, but as you’re legally responsible for the information submitted, we’d always recommend speaking to us first.
What is the difference between management accounts and statutory accounts?
Management accounts are different to statutory accounts as they are financial reports used internally to help business owners and senior managers make strategic decisions on a day-to-day basis.
Typically, they are produced on a weekly, monthly or quarterly basis and provide a deep level of insight into the business against various key performance indicators (KPIs).
Statutory accounts, as already discussed, have to include at minimum key financial information, and are required to be formatted in a specific way for public consumption. Management accounts are rarely shared outside of the business.