Audit and Accountancy

Audit and Accountancy Services

Audit

All companies other than those, which are exempt under the Companies Act, must have their annual accounts audited by a qualified auditor. The main criteria, which determine whether a company qualifies for exemption, are:

• Its annual turnover must not exceed £6.5 million
• Its balance sheet total must not exceed £3.26 million
• It has less than 50 employees

As Registered Auditors we are able to provide an audit service that will benefit your business in several ways:

• The independent audit of accounts provides tax inspectors with some comfort when reviewing the tax returns based on those accounts and as a result audited businesses are less likely to be subject to Inland Revenue enquiry.
• 
  As a growing business you may need financial assistance to expand. When a bank or other financial institution is looking to provide finance, audited companies may be offered preferential terms compared to unaudited companies.
• 
  Customers will have greater confidence in your ability to deliver if they can see that your company’s accounts show a solid track record. Audited accounts will add to that. If they are relying on your goods to make their products, they need to be confident in your ability to maintain supplies.

Accountancy

Although annual accounts must be prepared in order to comply with tax and company legislation, if they are prepared in a timely and efficient fashion they can be an important source of management information.

• Upon receipt of your records we will let you know when we expect the accounts to be completed.
• By doing this we will ensure that your statutory responsibilities are always met.