Ilyas Patel Accountants in Preston

Annual Accounts

What are Annual Accounts?

Your company’s annual accounts – called ‘statutory accounts’ – are prepared from the company’s financial records at the end of your company’s financial year.

You must always send copies of the statutory accounts to all shareholders
people who can go to the company’s

  • – General meetings
  • – Companies House
  • – HM Revenue and Customs
  • – (HMRC) as part of your Company Tax Return


You have different deadlines for sending your accounts to Companies House and your tax return to HMRC, but you may be able send them at the same time.

How we can help!

An accountant can be used by all types of businesses, from sole traders to multinational corporations. There are many benefits to be gained from doing so, not least the time and money you could save and the reassurance that everything has been done properly.

An accountant will be more cost-efficient than dedicating many hours of your own valuable time.

An accountant can help you with many other financial matters beyond accounts and tax returns. They can prepare financial projections during the planning stage, help you to grow your business once it’s up and running, identify appropriate tax-saving opportunities, assist with audits, and offer advice on ways to raise additional capital.

Depending on the size of your business, you may require a full-time accountant. Most small businesses, however, only need to use an accountant periodically when accounts and tax returns have to be filed.

If you appoint an accountant or tax advisor, you will need to provide them with a number of business and accounting records.

You can keep a record of income, expenditure, assets, and liabilities in paper form in an account book, or you can use spreadsheets or a bookkeeping cloud software package. 


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Contact Us

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Meet Us

Come meet our team receives specialized training regularly to ensure you're receiving the best information possible. From basic questions to complex compliance inquiries, we're here to help!

Help You

Interested in learning more about our services? Our Account Executives take the time to discuss your existing business background and help you make smart decisions that best meet your needs.