Audit

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

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…

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…

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

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.

• Turnover below £10.2 million
• Balance sheet total below £5.1 million
• Less than 50 employees
• Turnover below £6.5million
• Balance sheet total below £3.26 million
• Less than 50 employees

1. For accounting periods ending on or before 30 September 2012 an audit is required where your turnover exceeds £6.5million 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.

Book-keeping

Let us take the stress of paperwork off your hands…

• Drop off your invoices, bank statements, etc;
• We do all the processing;
• We can then easily prepare for you…
• Management Accounts;
• VAT Returns;
• Key Performance Indicators;
• End of Year Accounts;
• Estimated Tax Liabilities as you go along so there’s no end of year surprises;
• You pick up the records (neatly filed and organised!) and all the information we’ve agreed to provide you with.

It also makes it easy for us to handle any VAT inspections.

Company Secretarial

We can help you fulfill this role and offer the following services…

• Registered office facilities;
• Maintenance of statutory registers;
• Submission of statutory documents;
• Giving notice of General Meetings;
• Drafting agendas for company meetings;
• Preparing Minutes of Meetings;
• Completion of share transfer forms;
• Preparation of share certificates;
• Carrying out company searches;
• Filing of Annual Return;
• Acting as Company Secretary;
• General Company Law advice;
• Advice on protection of minority interests.

Management Accounts and Information

Up to date, relevant and quickly produced management information allows you to make the right decisions.

Our management accounts and information services include…

• Monthly or quarterly management accounts;
• Reporting of key performance indicators that are the underlying drivers that run your business;
• Help with in-house systems for you to produce your own information;
• Training on how to get the most out of your information;
• Supplying management information to lenders;
• Branch/Divisional results;
• Actual performance compared to budget and/or comparative periods;
• Costing information, including break-even turnover levels.