We understand that you need to “know the numbers” for your business and our accounts preparation service provides these to you. The standard profit and loss account and balance sheet have been the tried and tested standard reports about the performance of a business.
At Fairfield we go further, using the latest software to produce reports that help clients make decisions on issues like: what effect a price increase would have? What is the effect the current debtor to creditors ratio is having on cash flow? Another popular report is the 9 month report – put simply, this report gives you a picture of your business at a stage when beneficial changes could still be made to your tax liabilities.
Accounts for Companies, Contractors and Small Businesses
Full accounts produced by
your dedicated accountant
Monthly, quarterly or annual
Compiled and submitted to
Companies House and HMRC
Fully compliant with
What are Accounts?
Most businesses are required to produce a set of accounts at least once per year. These accounts will form the basis for the tax return which tells HMRC how much tax is owed.
Aside from accounts being a requirement, as a business you can benefit greatly from carefully considering the information within your set of accounts. Accounts can tell you how well your business is doing and may highlight areas that need to be addressed.
Accounts can be produced as frequently as you need them. So, if you require frequent up to date information about the performance of your business then monthly management accounts will possibly be best suited for you. However, if your business is very small and you have a rough idea of how well you are doing then you may only want the statutory annual accounts.
It is nearly always better for a professional to produce your business’ accounts because an accurate and comprehensive set of accounts will be of much more use to both you and your business, and will ensure that you are paying the correct amount of tax to HMRC.