Services
Statutory Accounts
Includes Statutory Accounts Service, Different Types of Statutory Accounts, FAQ
What’s Statutory Accounts ?
- Profit and Loss Account (Income Statement)
- Cash Flow Statement: Details cash inflows and outflows.
- Notes to the Accounts: Additional explanations and details on financial figures.
- Auditor’s Report : Independent verification of financial statements.
- Director's Report: Overview of company activities and performance.
Different Types of Statutory Accounts
- Simple accounts showing income, expenses, and profits. Typically less detailed than company accounts.
- Similar to sole trader accounts but for multiple owners, showing combined income, expenses, and profits.
- Detailed accounts required for companies listed on stock exchanges, including extensive disclosures and regulatory compliance.
- Accounts for public sector entities, focusing on budget compliance and public fund management.
- Simplified accounts for very small companies, requiring less detailed financial statements.
Our Value-added Service
Our experienced team of professionals is here to assist you with statutory services. With just one phone call, we can determine the specific information your company needs to provide to HMRC and Companies House.
Our fast delivery Service
At FAZ Accountancy Services, we proactively manage your statutory requirements with efficiency and accuracy. We aim to complete your company’s filings for HMRC and Companies House within 1 to 2 weeks from receiving the relevant information from you.
Never Miss a Deadline
You won’t need to scramble for last-minute paperwork for HMRC, avoiding fines and stress. We’ll proactively remind you in advance of any required information or payments.
FAQ
Statutory accounts ensure transparency and provide a true and fair view of a company’s financial performance and position. They help regulators, investors, and stakeholders assess the company’s financial health and compliance with legal requirements.
All companies, including limited companies, public companies, and some partnerships, are required to prepare statutory accounts. The requirements vary based on the company’s size and type.
Accounts must be filed with the relevant regulatory authority, such as Companies House in the UK, typically within nine months of the end of the financial year.
Failure to file statutory accounts on time can result in penalties, fines, and potential legal action. It can also affect the company’s reputation and creditworthiness.
Statutory accounts are prepared for regulatory compliance and external stakeholders, while management accounts are used internally to aid decision-making and monitor business performance.