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.
Excellent service from DS Burge and Co; very responsive and pragmatic and helpful approach. Extremely well priced service. My wife and I have used their services for a number of years and have always been extremely impressed.Julian T.
I started my own business at the beginning of the year, and I decided to use DS Burge as my accountants based on recommendations from a few friends who were long term customers.So far their levels of service and professionalism have been fantastic. They have helped guide me through all the hurdles I expected (and some I didn't).As you would expect you have a lot on your plate when you set-up from scratch, but they have always been on hand to help.Ali W.
Efficient, personable and highly professional. Would highly recommend!Dominic R.
Very fast and friendly service.Rosemaria E.
Excellent service. Taxes and incorporation of my company sorted promptly.IMGS
Have been using DS Burge & Co ever since I started having to do a tax return both personally and for a limited company. Always very detailed and quick responses to any queries and thorogh explanations. Great at ensuring tax payable is the most efficient it can be. Would highly recommend.Jack M.
I started using DS Burge and Co following a recommendation from my brother. I have been with them now for 6 or 7 years now and I always find them to be extremely responsive and efficient. Kieran and Darius are extremely knowledgeable and up to date. I have recommended them to a number of friends who have started using them and then told me how good they. This reflects well on me but it has also confirmed my impression that they are a quality outfit.Dr 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.
DS Burge have been invaluable in helping with my tax returns and planning, and forming a number of companies for me. The team are friendly, results focused and knowledgeable.Alexander P.
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.
We have used DS Budge & Co since we set up the company 11 years ago and I can honestly say that we wouldn’t still be here if it hadn’t been for their assistance over the years. They are not only first rate accountants but trusted, loyal advisors and friends – I could not recommend them more highly.Camilla H.
Very efficient and easily accessible. Responds quickly to communication. I would recommend to others.Cath G.
Prompt professional service.Alex a.
Last year I got a very scary letter from HMRC demanding I pay them £17k in lost taxes. Kieran from DS Burge & Co was extremely knowledgeable and helpful in getting that bill largely reduced and ensuring that HMRC don't make the same mistake again. Would highly recommend their services to anyoneAlexis P.
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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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.