We take the time to explain your accounts to you so that you understand what is going on financially within your business, helping you to plan for the future. We do more than just repeat the history of what has already happened…
to file at Companies House and abridged accounts to ensure the minimum amount of your financial information is made public
Work to your Timescales
Accounts Preparation in Swansea & Neath to agreed timescales and deadlines.
Minimising tax liability
Identify areas where we can assist in minimising your tax liability
Identify areas of the business that give you the most opportunity to make improvements
Help meet your goals
Use the accounts to help you measure where you are in meeting your goals and what actions you need to take
Do you know why you need an audit or why you should have one?
An audit involves a detailed review of the company’s accounting systems and systems of control and also requires a detailed understanding of the company’s business. We can advise you if you need an audit and if not, you can save on accountancy fees! However, we aim to deliver hassle-free audits and there are good reasons for having an audit even if you are not required by law to have one.
The review required for an audit can provide increased opportunities to provide proactive business advice on many matters
An unqualified audit report can improve the status of the accounts in the eyes of banks and commercial lenders, the Taxman and suppliers who may be seeking credit references, etc.
A history of accounts with clean audit reports can also be a factor if you ever wish to sell the company or, perhaps, take it to the market.
The following are the main reasons why you will be required by law to have a statutory audit…
You are a PLC or a banking, insurance or finance company (or a subsidiary of one of these)
You are required by your professional or trade organisation to have your accounts audited
Your shareholders do not agree to opting out of the audit
However, companies (including LLP’s) are exempt from having a statutory audit if they meet 2 of the 3 following conditions…
Your turnover is below £10.2 million
Your balance sheet total is below £5.1 million
You have less than 50 employees
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Patricia Edmunds • Hanford’s Chemist
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