Annual Accounts and Compliance

What are annual accounts?

Also referred to as statutory accounts, annual accounts are a set of key financial statements that most UK businesses are legally required to prepare. These typically include:

• Profit and loss account: Shows your company’s income, expenses, and profit for the financial year.
• Balance sheet: A snapshot of your company’s assets, liabilities, and equity at year-end.
• Cash flow statement: Illustrates how cash has moved in and out of the business, often essential for internal use and lenders.
• Notes to the accounts: Provide important context or breakdowns for figures in the statements.
• Directors’ report: Required for medium and large companies, summarising financial position, risks, and future outlook.

We prepare company annual accounts in full compliance with Companies House, HM Revenue and Customs (HMRC), and the applicable financial reporting standards.

What's included in our annual accounts service?

Preparation of compliant company annual accounts

We’ll gather your year-end financial data and turn it into a professionally compiled set of company annual accounts, ensuring full compliance with FRS 105, FRS 102, or IFRS standards - whichever applies to your business.

Filing with Companies House and HMRC

Our team takes care of all submissions for you, ensuring your annual accounts are filed correctly and on time to avoid penalties or compliance issues.

Clear presentation of financial performance and position

We don’t just produce your accounts - we make sure you understand them. We’ll explain key metrics, trends, and variances, helping you evaluate performance and inform future strategy.

Accounting standards and legislative compliance

We stay up to date with evolving legislation, including Companies Act requirements and financial reporting standards, so your company annual accounts are always accurate and audit-ready.

Integrated service with tax and bookkeeping

By combining your annual accounts with our tax planning and bookkeeping services, we minimise duplication, improve efficiency, and give you a seamless year-end process.

Strategic advice based on your financial data

We interpret your annual accounts to identify opportunities and risks - whether it's improving margins, controlling costs, or preparing for investment or expansion.

Who we help

Our annual accounts services are tailored to suit the unique needs of:

• Limited Companies: From startups to established firms, we prepare and file complete company annual accounts with a focus on clarity and growth.
• Partnerships and LLPs: We ensure correct partner profit allocations and help meet tax and compliance duties.
• Sole Traders: As you grow, annual accounts become more important for planning, funding, and tax efficiency.
• Community Interest Companies (CICs) and charities: We align your annual accounts with regulatory and public accountability expectations.
• Group companies: We can consolidate group entities into one set of statutory accounts, offering group-wide visibility and control.

Additional services that enhance your annual accounts

Management accounts

Monthly or quarterly reports that help you track performance throughout the year - so your annual accounts don’t come as a surprise.

Forecasting and budgeting

Create realistic financial plans to guide your business decisions and support funding or investment strategies.

Corporate tax returns

We prepare and submit your corporation tax return (CT600) using data from your company annual accounts, identifying reliefs or allowances to minimise liabilities.

Cloud accounting integration

We work with Xero, QuickBooks, Sage, and other digital platforms to simplify your financial processes and give you better real-time data.

Speak to our experts

Whether you’re a new company preparing your first annual accounts, or a growing business needing strategic insight from your company annual accounts, Duncan & Toplis is here to help.

Get in touch to find out how we can support your business with reliable, insightful annual accounts.