Statutory annual accounts preparation

We provide both manual and online accounting and bookkeeping services to sole traders, partnerships, limited companies and LLPs.

We provide a fully outsourced service where we will do everything for you, or we can work with your finance staff to help them to prepare the accounts and be their sounding board if they get into any difficulties.

See our fully managed service and our review and balance service below for more.

The Martin Aitken & Co team are trained in a wide variety of financial software packages and will turn your comprehensive, internally prepared accounts into well-organised, easy to interpret statutory accounts.

Our annual accounts preparation services are tailored to our clients’ individual reqassets liabilitiesuirements, but in essence they typically include:

  • Preparation of statutory annual accounts (and consolidated accounts for groups of companies), including all the required disclosures – for both incorporated and unincorporated businesses which comply with the Companies Act and HMRC’s requirements.
  • Preparation of financial accounts for partnerships, LLPs and smaller businesses.
  • Maintaining accurate and comprehensive nominal, sales and purchase ledgers.
  • Reconciling your bank position.
  • Preparing business and personal tax returns and VAT returns.
  • Providing you with business reports e.g. profitability and business & financial performance analysis, aged debtor and creditor listings to help you get a better understanding of the business, commercial trends and prospects for the year ahead.

Fully managed service

We can provide a fully outsourced service where we will do everything for you, or we can work with and compliment your in-house finance team and allocate responsibilities for all the elements involved accordingly.

For instance, if you decide you want Martin Aitken & Co to handle everything for you, we will:

  • Prepare your accounts from your cashbooks, bank statements, trial balances, invoices, credit notes and other trading and commercial documentation.
  • Prepare your full accounts i.e. FRSSE (Financial Reporting Standards for Smaller Entities) accounts or abbreviated accounts. The choice will depend on whether you are able to take advantage of disclosure exemptions. We will explain this to you at our first meeting.
  • Submit the accounts to Companies House on your behalf.
  • Review your draft accounts – we will check these for completeness, errors and any omissions, including any disclosure requirements which you may be unsure about.
  • Providing accounting standards compliance advice, especially in relation to transactions.
  • The level of our involvement will depend on the size and complexity of your business.

Review and Balance service

On the other hand, if you employ a book-keeper or a finance manager/director and tend to prepare and file your own accounts, we will be able to help you by:

  • Reviewing your draft accounts – we will check these for completeness, errors and any omissions, including any disclosure requirements which you may be unsure about.
  • Providing accounting standards compliance advice, especially in relation to transactions.
  • The level of our involvement will depend on the size and complexity of your business.