Year end accounts

Looking for support in
year-end statutory accounts preparation?

Look no further — 3E’S is here!

Don’t make the year-end a time to dread your business. Play smart, use our services.

Starting from £450.00 + VAT

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Dealing with year-end accounting can be a headache for any business owner.

You have to make sure all statutory deadlines are met and your business avoids any penalties and fines.

The good news is you only have to prepare and submit year-end accounts once a year, and if you get someone else to handle the function, you don’t have to worry about it all!

Why waste time preparing time-consuming and tedious compliance reports when you could be scaling up your business?

Know the accurate status of your financials through our annual statutory accounts services.

What you get with 3E’S annual statutory accounts services

We are happy using any software to prepare your year-end accounts

VT software
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Our clients love us for our brilliant services.

Is 3E'S the right choice
for your business?

We could throw a long list of reasons at you for working with us. But we’ll stick with a few:

Rely on us to efficiently manage your year-end accounts, freeing up your time for key business decisions.

Get a comprehensive annual report of your financial status from our year-end accounts service to guide your strategic planning.

Trust your year-end accounts to the best in the business, ensuring accuracy and compliance.

We provide expert year-end account services at a fair price, reflecting our commitment to value.

Focus on year-forward planning while we take care of your year-end financial closure.

Frequently asked questions

All limited companies registered in the UK are required to prepare year-end accounts. This includes both active trading companies and dormant companies. Partnerships and sole traders are also encouraged to prepare year-end accounts to gain a clear understanding of their financial position, even though they are not legally obligated in the same way as limited companies.

Year-end accounts should be prepared annually, shortly after the end of your company’s financial year. The exact timing can vary, but it is best practice to start the preparation process as soon as possible to ensure timely filing and to identify any issues that need to be addressed before submission.

The year-end accounts preparation process typically involves the following steps:

  • Reviewing and reconciling financial records for the year
  • Preparing a trial balance to summarise all financial transactions
  • Adjusting entries for any accrued income or expenses
  • Compiling the profit and loss statement and balance sheet
  • Reviewing and verifying all figures for accuracy
  • Preparing notes to the accounts and a directors’ report, if applicable
  • Submitting the accounts to Companies House and HMRC

To find out more, please speak to a 3E’S accountant.

Yes, year-end accounts play a crucial role in tax planning. They provide a detailed overview of your financial performance, which can help identify opportunities for tax savings and ensure that you are taking advantage of all available tax reliefs and deductions.

Early preparation and review of year-end accounts allow for strategic tax planning to minimise liabilities.

To prepare your year-end accounts, you will need the following documents:

  • Bank statements
  • Payroll records
  • Expense receipts
  • Previous year’s accounts
  • Sales and purchase invoices
  • Any loan or lease agreements
  • Copies of VAT returns (if applicable)
  • Details of any assets purchased or sold

The filing deadline for year-end accounts depends on your company’s accounting reference date (ARD). Typically, private limited companies must file their accounts with Companies House within 9 months of the accounting reference date (the ARD) – this is generally the end of the company’s financial year.

Newly formed companies have 21 months from the date of incorporation to file their first accounts. Additionally, the corporation tax return must be filed with HMRC within 12 months of the end of the accounting period.

Failing to file your year-end accounts on time can result in penalties. For private limited companies, the penalties are as follows:

  • Up to 1 month late: £150
  • 1 to 3 months late: £375
  • 3 to 6 months late: £750
  • More than 6 months late: £1,500

There is also a penalty, interest, and surcharge for late filing of corporation tax returns. Persistent late filing can also lead to further legal consequences, including potential removal from the Companies House register and directors being disqualified from managing a company.

If you have any additional questions or need further assistance with your year-end accounts, please do not hesitate to contact us. We’re here to ensure your accounts are accurate and submitted on time.

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