Main Menu
Client login
Arrange a discovery call

Annual accounts for Companies House

Financial reporting standards are notoriously complex, so let us worry about them.

On-time submissions

Hassle-free

Help identify business improvements

Free up your time

Your key contact

Jamie Snell

Director of Client Finance

Let us worry about compliance

Schedule a brief, no obligation call with our team today.

Schedule a discovery call

Annual accounts for Companies House

Annual accounts provide an overview of your company’s financial activity over the last financial year allowing you and your shareholders to see how well the company is doing financially.

It is a statutory requirement for your company to file accounts each financial year which are also compliant with UK financial standards…. this is where we come in.

Financial reporting standards are notoriously complex, so let us worry about them. You will be able to sleep easy knowing that your company’s annual accounts will be compliant and submitted on time.

"Financial reporting standards change all the time – but that’s our job to keep up with them, so you don’t have to."
Karen Coult
Client Finance Partner

Why should I prepare annual accounts?

It's a UK statutory requirement
  • It is a UK statutory requirement if your business is either a limited company, LLP, charity, association or a society.
  • This means that it is your responsibility to make sure that your annual accounts are accurate and submitted on time.
  • HMRC can issue large fines and subsequently close down entities if annual accounts are not submitted.
  • They will also be used to prepare a Corporation Tax return for HMRC and estimate the amount of Corporation Tax owed by your company. 

How do I prepare annual accounts?

Let Caldwell Penn do the hard work for you
  • We have a team of in-house experts with vast detailed knowledge of the latest financial reporting standards who will prepare your company’s annual accounts.
  • They have experience working with a wide range of businesses and individuals, so your accounts are in good hands.
  • We like to free up your time as much as possible so you can concentrate on the more important day-to-day tasks, so after an initial meeting, no face-to-face meetings are required.
  • We will let you know what information we need each year and prepare everything electronically.
  • Our team will electronically iXBRL tag your financial statements so that they comply with the current UK company requirements and submit your financial statements on your behalf.  
"We don’t just file your accounts – we use them to find ways to save you tax and improve profitability."
Caitlyn Evans
Client Finance Partner
"Every set of accounts tells a story – our job is to make sure yours says all the right things to HMRC, shareholders, and lenders."
Luke Noble
Client Finance Partner

What are the benefits?

We do more than just prepare annual accounts...
  • Your financial statements will be compliant, submitted to HMRC on time, and hassle free, giving you the confidence that all UK regulatory requirements have been met.
  • Preparing your annual accounts will give us the opportunity to identify areas where we can assist in minimising your corporation tax bill and recommend improvements to increase your business’s profitability. 
  • They provide a summary of company’s financial performance for each financial year giving reassurance to existing investors on how well your company is doing. They will also be required to assist securing finance for either the directors or the business.
  • Accurate annual accounts may also attract potential new investors. 

Your client finance leads

Jamie Snell

Director of Client Finance

Caitlyn Evans

Client Finance Partner

Karen Coult

Client Finance Partner

Luke Noble

Client Finance Partner

Frequently asked questions

Accounts are due for filing 9 months after the company’s financial year end. However, if it is your first financial year the deadline is 21 months after you registered with Companies House .

Your financial year end will be automatically set at 12 months after you register with Companies House (i.e. if you register on 26 May 2020, your financial year end will be 31 May 2021).

Corporation tax is payable 9 months and 1 day after the end of your accounting period.

If you miss your company’s filing deadline you will have to pay penalties, this depends on how late you are at filing your accounts, from £150 for up to 1 month late, up to £1,000 for more than 6 months late.

There are three key stages to an audit:

Planning

This includes the administration of the audit, undertaking a risk assessment and designing tests to address the key risks identified .

Gathering evidence

This is the actual testing stage where we gather evidence, which could involve some or all of the following:

  • Discussions with directors and staff
  • Calculating and investigating variances between the current and previous year and between budget and actual results
  • Undertaking tests as designed at the planning stage
  • Evaluating significant judgements and estimates made by the directors
  • Contacting a sample of your suppliers and customers to confirm the amounts that are owed
  • Reviewing the accounting policies and disclosures within the financial statements

Any discrepancies which are found will be discussed with the directors to allow them a chance to adjust the financial statements before they are finalised .

Conclusion

This is where we assess the evidence we have gathered and conclude on whether the financial statements are free from material misstatement. Our opinion will hopefully be ‘unqualified’ which means that we are saying that the financial statements are true and fair.

Yes, you can shorten your company’s year end as many times as you like. You can also lengthen the financial year end by a maximum of 6 months, however you can only do this once every 5 years.

You cannot change your year-end if the accounts are overdue.

If your company is actively registered at Companies House you need to submit accounts whether you are trading or not. If you would like to keep your company open but not trading then you will need to submit dormant company accounts.

You must keep records for six years from the end of the last company financial year they relate to, or longer if:

  • they show a transaction that covers more than one of the company’s accounting periods
  • the company has bought something that it expects to last more than 6 years, like equipment or machinery
  • you sent your Company Tax Return late.

Advice and guidance can vary on a case by case basis so if you would like to obtain further information, including an answer tailored to your specific circumstances, please do get in touch and we would be more than happy to help.

Our core sectors

Our expertise spans a wide range of industries, with 60% of our client base concentrated in the following core sectors:

Professional Services

Consultants, agencies, engineers, and other specialised firms providing expert professional services.

Technology & Innovation

SaaS companies, crypto businesses, software development firms, and tech start-ups.

Manufacturing & Logistics

Manufacturers, supply chain operators, warehousing businesses, and logistics providers.

While we specialise in these areas, our diverse client portfolio includes businesses across various industries, from retail to construction and manufacturing to hospitality.

No matter your sector, we’re equipped to support your growth and success.

Schedule a discovery call

Trusted by businesses like yours

"Caldwell Penn's transparency, professionalism, attention to detail, and friendliness distinguish them from all other firms we have previously engaged. They have exceeded our expectations by additionally offering R&D advice, which has significantly benefited our operations."
Allaero Limited
"While it’s hard to get excited about an audit, Caldwell Penn made the experience as seamless as possible. Communication was clear and effective, and the management letter provided valuable insights for our business. We highly recommend their services to any business in need of a thorough and efficient audit."
UK Lanyard Makers Ltd
"Caldwell Penn handle everything for us with a proactive, tailored approach. Their dedicated team understands our goals, ensuring we never miss tax-saving opportunities. They’re more than accountants, they’re partners in our growth."
Syon Creative Ltd

News & insights

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.