Producing statutory accounts at the end of your financial year can be a difficult and time-consuming process. Disclosure requirements are constantly changing and it is increasingly difficult for organisations to be sure they have complied fully. A further complication is that many businesses now have to file corporation tax returns in iXBRL format. This requires appropriate software that can tag the key elements of the accounts in a format compatible with HMRC’s database.
Businesses need to ensure that they file their accounts on time with their regulator. For example, most limited companies accounts will need to be filed at Companies House within 9 months of the company’s year end, and charities usually have to submit their accounts to the Charity Commission within 10 months of the year end.
Our expert team advises clients on disclosures and produces accounts on a regular basis within the required reporting timeframes and have dealt with most reporting frameworks over the years including:
- FRS 101, FRS 102 and FRS 105
- Limited Liability Partnerships
- Charities Statement of Recommended Practice 2015
- Solicitors Accounts rules
- Trade Union and Employers’ Associations
- Unincorporated associations
- Housing Associations
- Statement of Recommended Practice – Financial Reports Of Pension Schemes 2015
Knox Cropper are also registered with the Institute of Chartered Accountants in England and Wales to carry out audits should this also be required.
If you require assistance or advice about producing accounts for your organisation, please contact one of our team.