What are statutory accounts?
Statutory accounts, also known as annual accounts or financial statements, serve as a cornerstone for businesses across all industries. They are a legal requirement that must be submitted to HMRC on an annual basis. Statutory accounts provides a snapshot of a company’s financial health, its financial performance, over the fiscal year, and its adherence to financial regulations.
These accounts play a critical role in building trust among stakeholders, attracting investors, and ensuring transparent financial reporting.
However, the realm of preparing statutory accounts is far from simple. With evolving regulations, accounting standards, and reporting requirements, businesses face an increasing challenge to ensure accuracy and compliance in their financial statements.
Why outsource my statutory accounts to an accountant?
Reduce the risk of errors
Using a qualified chartered accountant to produce your statutory accounts will reduce the risk of errors and mistakes being made in company accounts and potentially being issued a penalty or fine by HMRC.
Improve financial efficiency
When an accountant produces statutory accounts to companies house, they will be able to identify and advise on areas of financial inefficiencies on your business.
Become more tax efficient
If an accountant is consulted early enough they may be able to identify areas where you might be able to reduce your company’s corporation tax and liability before you submit your company tax return.
Our statutory accounts service
Ensuring compliance
When submitting your statutory accounts, ensuring compliance with statutory requirements and maintaining a clear financial record is paramount. At Hawsons our expert accountants understand the intricate nature of statutory accounts to provide you with financial clarity and compliance. When we prepare statutory accounts we will analyse your financial reports and data, ensuring each figure is accurate, complete, and aligned with the latest accounting standards . With our services, you can present your company’s financial position and performance with confidence.
Providing meaningful feedback
At Aksons Accounting, we provide all of our clients with a personal tailored service. This is because although compliance is of the up-most importance we also want to provide our clients with meaningful feedback. We interpret the figures, identify trends and areas that require attention. This in-depth analysis empowers our clients to make informed decisions, spot opportunities for growth, and address potential challenges proactively.
