Accounts Preparation

Do you need accurate accounts provided on time?

We can…

  • Prepare accounts to help in completion of self-assessment tax returns
  • Produce financial statements to file at Companies House and abridged accounts to ensure the minimum amount of your financial information is made public

Accounts are prepared to agreed timescales and deadlines.

But we can do more than just report the history of what’s already happened…

  • Identify areas where we can assist in minimising your tax liability
  • Identify areas of the business that give you the most opportunity to make improvements
  • Use the accounts to help you measure where you are in meeting your goals and what actions you need to take

We take the time to explain your accounts to you so that you understand what is going on financially within your business, helping you to plan for the future.

Company Secretarial

Our company secretarial team can handle all delicate matters of this nature for you, saving time, protecting you from fines or penalties and alleviating your related anxieties.

Bookkeeping Services

Flexible bookkeeping services tailored to your business

Business Advice

Help when you need it most

Specialist Audit

we undertake specialist audits for organisations that are required to report under additional rules such as clubs and associations, charities and other not-for-profit organisations, solicitors and law firms

Auditing

Do you know why you need an audit or why you should have one?

The main reasons why you will be required by law to have a statutory audit are…

  1. You are a PLC or a banking, insurance or finance company (or a subsidiary of one of these)
  2. You are required by your professional or trade organisation to have your accounts audited
  3. Your shareholders do not agree to opting out of the audit

For accounting periods starting on or after 1 January 2016 audit thresholds are aligned with the new qualification as a small company, meaning companies (including LLP’s) are exempt from having a statutory audit if they meet 2 of the 3 following conditions…

  • Turnover below £10.2 million
  • Balance sheet total below £5.1 million
  • Less than 50 employees

For accounting periods starting before 1 January 2016 and ending on or after 1 October 2012 small company, meaning companies (including LLP’s) are exempt from having a statutory audit if they meet 2 of the 3 following conditions…

  • Turnover below £6.5 million
  • Balance sheet total below £3.26 million
  • Less than 50 employees

Most subsidiary companies are also exempt from audit where their parent company guarantees their liabilities.

For accounting periods ending on or before 30 September 2012 an audit is required where your turnover exceeds £6.5 million or your gross assets exceed £3.26 million or the company is part of a group that exceeds those limits.

We can advise you if you need an audit and if not, you can save on accountancy fees!

However, we aim to deliver hassle-free audits and there are good reasons for having an audit even if you are not required by law to have one…

  • An audit involves a detailed review of the company’s accounting systems and systems of control and also requires a detailed understanding of the company’s business. Such a review and knowledge can provide increased opportunities to provide proactive business advice on many matters
  • An unqualified audit report can improve the status of the accounts in the eyes of banks and commercial lenders, the Taxman and suppliers who may be seeking credit references, etc
  • A history of accounts with clean audit reports can also be a factor if you ever wish to sell the company or, perhaps, take it to the market
  • The possibility of fraud can be reduced and an audit can act as a deterrent to any potential fraudster

Lets talk!

Whether you’re starting from scratch or have been in business for years you’ll benefit from working with Morgan Griffiths. Get in touch to see what we can do for you.
Contact us today