Driving informed decisions
When it comes to managing your accounts, we’ve got you covered.
We seamlessly blend compliance with insightful financial data to benefit small businesses and their owners. Just like you, we’re a small business, so we fully grasp the day-to-day challenges you encounter. While annual accounts are a statutory requirement, we believe they should be more than a mere obligation. When meticulously crafted in a timely, cost-effective manner, they become invaluable tools for informed decision-making.
Our approach goes beyond number-crunching. We ensure you understand the profit figures and provide services such as timely submissions, iXBRL tagging for HMRC, micro-entity and abbreviated accounts for Companies House. Importantly, we help you avoid the pitfalls of late filing penalties and business disruptions.
With Simon & Co, your financial well-being is our priority. Explore our Accounts service to see how we transform compliance into a strategic advantage.
Expert financial services at your fingertips
Year End Accounts
- Insightful Financial Clarity – We go beyond compliance, offering you meaningful insights from your year-end accounts to make informed decisions and plan for the future.
- Timely Submissions – We ensure your accounts are prepared and submitted promptly to meet statutory deadlines, preventing late filing penalties.
- HMRC-Compliant iXBRL Tagging – Our experts handle iXBRL tagging, ensuring your accounts are fully compliant with HMRC regulations.
- Tailored Micro Entity Accounts – Created to suit your business’s size and needs, simplifying your financial reporting.
- Abbreviated Accounts – We prepare and file abbreviated accounts for Companies House, reducing the administrative burden on your business.
- Averting Late Filing Hassles – With us, you can avoid the hassle of late filing penalties and safeguard your company’s reputation and financial stability.
- Real-Time Business Insights – Providing you with up-to-date financial data, empowering you to make informed decisions for your business’ success.
- Customised Service Levels – We offer flexible service levels, from explaining reports to customising and preparing them for you, ensuring you get the support you need.
- Utilising Online Bookkeeping – We leverage online platforms like Xero to give you access to your own management accounts, making financial insights easily accessible.
- Data Analysis Expertise – For larger and more complex companies, we offer Data Analysis services using Power BI and Xero to unlock deeper insights.
- Strategic Budgeting – We help you create budgets to control sales and costs, ensuring you stay on track to meet your business goals.
- Proactive Cash Flow Management – We help you forecast cash flow to ensure your business remains liquid and can cover future costs, preventing financial crises.
Frequently Asked Questions
Explore our frequently asked questions to find valuable information on various business topics. Get the answers you need to make informed decisions about your business.
Management accounts are crucial for making informed business decisions as they provide detailed financial and statistical information about your business operations. While there is no legal requirement in the UK to prepare management accounts, businesses often prepare them monthly or quarterly to keep a close eye on their financial performance and to make timely strategic decisions.
Limited company owners must submit accounts to Companies House within 9 months after the financial year ends and pay any corporation tax to HMRC in the same period. Additionally, corporation tax must be submitted to HMRC within 12 months of the company’s year-end.
Accountants typically need a record of all business transactions, including receipts and payments, and company bank statements to verify completeness. While traditionally these were paper-based, nowadays a link to accounting software like Xero, FreeAgent, or QuickBooks is commonly sufficient to begin the process.
If company accounts are not filed, the company will ultimately be struck off, and all its assets, including bank balances, properties, and vehicles, will be transferred to the Crown. While it is possible to reinstate the company, it is a time-consuming and expensive process that is easily preventable.
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