Year-End Company Accounts – What You Need to Prepare

What You Need to Prepare

Preparing for year-end accounts requires organisation and attention to detail. Here are the key documents and information you should have ready:

1. Financial Records
   • Bank statements
   • Invoices (both issued and received)
   • Receipts for expenses
   • Loan or credit agreements
2. Payroll Information
   Ensure that salaries, bonuses, and pensions are accurately recorded, along with PAYE and National Insurance contributions.
3. VAT Records
   If your business is VAT-registered, gather your VAT returns and ensure all VAT transactions are properly documented.
4. Fixed Assets and Depreciation
   Keep an updated record of company assets, including any new purchases or disposals, to calculate depreciation correctly.
5. Stock and Inventory
   Conduct a year-end stocktake to value your closing inventory, which directly impacts profit and loss calculations.
6. Debtors and Creditors
   Prepare a list of outstanding invoices (money owed to you) and unpaid bills (money your business owes).
7. Director’s Loans and Dividends
   Record any loans taken from or given to the business, as well as dividend payments to shareholders.

How a Specialist Accountant Can Help

Managing all these records can feel overwhelming, especially when you’re focused on running your business. That’s where a specialist accountant comes in. At Stan Lee Accountancy Ltd, we take the stress out of year-end accounts by:

• Reviewing and reconciling your financial records
• Ensuring compliance with Companies House and HMRC requirements
• Identifying tax-saving opportunities
• Providing clear reports to support business decision-making