Sole Traders & Partnerships
For sole traders or partnerships there is no legal requirement to produce final accounts every year. It is however, necessary to produce annual accounts for various reasons:
The Inland Revenue requires to see annual accounts in support of personal tax calculations.
For monitoring your financial and non-financial performance
For other interested parties such as banks and lenders.
In the UK every year all companies are legally required to produce a set of final accounts and file them at the Companies House. This applies to all registered companies including those that are non-trading.The Annual accounts must include the following:
a profit and loss account (or income and expenditure account if the company is not trading for profit);
a balance sheet signed by a director and includes the printed name of the director who signed the balance sheet on behalf of the board; and
notes to the accounts;
How we can help you
We will take the pressure off you by producing non-audited final accounts for your business and filing them at the Companies House.
We will provide you with a high quality service at a reasonable charge thus saving you time and money.
We will ensure that you meet statutory obligations by managing the timing for the production of your annual accounts.
We will also help you to take advantage of tax planning opportunities.