Limited Company Accounts

Running a limited company comes with specific responsibilities, including the preparation and submission of annual accounts. These accounts provide a detailed overview of your company’s financial performance and are a legal requirement for filing with both HMRC and Companies House. At W. Wilson Millar, we specialise in helping limited companies in Prestwick stay compliant and on top of their financial reporting.

What Are Limited Company Accounts?

Profit and Loss Account: This shows your company’s income, expenses, and overall profit or loss for the financial year.
Balance Sheet: A snapshot of your company’s financial position at the end of the year, detailing assets, liabilities, and shareholder equity.
Notes to the Accounts: Additional information to explain certain items in the financial statements, providing greater transparency.
Director’s Report: A narrative report that summarises the company’s activities, performance, and future outlook.
Corporation Tax Return (CT600): Submitted to HMRC, this document details your company’s taxable profit and the amount of corporation tax due.

Key Dates for Limited Company Accounts

Company Year-End: This marks the end of your company’s financial year and is typically set during incorporation.
9 Months After Year-End: You must file your annual accounts with Companies House within nine months after your company’s financial year-end. Additionally, any corporation tax due must be paid to HMRC by this deadline.
12 Months After Year-End: You need to file your corporation tax return (CT600) with HMRC within 12 months of your company’s financial year-end.

Our Limited Company Accounts Services

Preparation of Annual Accounts: We handle the preparation of your profit and loss account, balance sheet, and other required documents, ensuring accuracy and compliance.
Corporation Tax Filing: We calculate your corporation tax liability and handle the submission of your CT600 to HMRC.
Filing with Companies House: We ensure your annual accounts are submitted on time to Companies House, avoiding any penalties for late submission.
Tailored Advice: Our team provides personalised advice on financial reporting, tax efficiency, and compliance to help your company thrive.

Benefits of Our Services

Compliance Assurance: We ensure your accounts meet all legal requirements, giving you peace of mind that your company is fully compliant.
Time-Saving: Let us handle the complexities of financial reporting, so you can focus on running your business.
Expert Insights: Our experienced team offers valuable insights to help you make informed decisions and improve your company’s financial health.

If you're looking for expert assistance with your limited company accounts in Prestwick, contact us today. We’re here to support your business every step of the way.

*All information correct at 9th Jan, 2025*