Parrott & ParrottParrott & Parrott

Accounts Preparation – Annual and Management Accounts

The preparation of historic accounts is often seen as a mere compliance exercise, a necessary task to comply with tax and regulatory requirements.  Clearly the need to determine the trading results of a business for tax purposes and to meet the requirements of the law is very important.

We realise that accounts preparation provides clients with a massive insight to their business and gives them the bigger picture highlighting not only past performance and the outcome of management strategies, but also the short-term objectives and long term goals for the business.  This allows the entrepreneur to plan for the future and to decide how they wish their business to progress over the years.

Of course, the need to monitor financial performance is relevant not only to businesses with a profit motive, whether a sole trader, partnership or limited company, but also to other entities such as clubs and associations, charities, trusts and pension schemes.  Indeed our accounts preparation solutions can be tailored to meet the needs of any type of entity not only to comply with tax and regulatory requirements.

Annual accounts preparation
Whether your accounting records are maintained using a computerised package, manual daybooks or something less sophisticated we can tailor an annual accounts preparation solution to meet the needs of your business.

Upon receipt of your accounting data we will prepare accounts which comply with current best practice, relevant legislation & accounting standards and which are appropriate to your circumstances. For Limited Companies we will produce accounts that comply with the requirements of the Companies Acts and file the approved accounts with Companies House, helping to ensure you carry out your statutory obligations.

Management accounts preparation

Timely information is key to the success of most businesses, allowing owner/managers to capitalise on successful ventures or to take corrective action, if necessary, at an early stage.  If you don’t want to wait a whole year to find out how your business has done, there’s no need to.  We can prepare management accounts at a frequency to suit you and taking a finance director view of performance we can highlight the key performance indicators that your business should rely on to monitor and improve performance.  This is an ideal option for small businesses who do not have their own accountant or those that do, but want to keep their time free for other things