Cashtrac Accountancy Services | Accountants Gloucester | Services | Year End Accounts
Business Start Ups | Book Keeping | Payroll | Fast Tax Return Service | Self Assesment | Year End Accounts | Company Secretarial | Contracting | Online Accounts
Tel: 01452 413800
15 Westgate House, The Island, Westgate Street, Gloucester GL1 2RU
Year End Accounts
A Limited Company has a statutory duty to prepare annual accounts. These have to be filed with Companies House and HM Revenue & Customs on a specific date with penalties being levied for late filing.
Sole traders and partnerships also have a duty to prepare annual accounts to form the basis of their income tax liabilities. In addition to their statutory role, annual accounts are often required for other reasons including:
Proof of income to support mortgage applications
Evidence for a prospective lender that the business is viable and able to support business loans
To show to a prospective purchaser of the business that this is a viable business and to help establish the asking price
Cashtrac can produce accounts to support all these requirements