Our accountancy services
Accounts
If you are just starting out or running a successful business already, try our accounting services that are designed to meet your personal needs and those of your business.
Our friendly and approachable Accounting Services
Accounts
What are Statutory Accounts?
Also known as “Annual Accounts” or “Year-end Accounts”, Statutory Accounts are a set of financial reports prepared at the end of each financial year.
All UK limited companies must submit Statutory Accounts to Companies House within nine months of their fiscal year’s end. If you compare the preparation of accounts for large corporate companies, the accounts of small businesses are much easier to prepare than larger competitors.
What do statutory accounts include?
- A balance sheet
- A profit and loss statement
- Notes about the accounts
- A director’s report
- An accountant’s or auditor’s report
Copies of statutory accounts should always be sent to:
- Shareholders
- Companies House
- HM Revenue and Customs (HMRC)
- Anyone who attends the company’s general meetings
Compiling Statutory Accounts can be complicated and time-consuming. You can also face fines if you make a mistake or are late filing your accounts!
Here at Jones and Partners, our accounting services delivered by our highly-experienced team, help many different types of firms with the preparation and filing of their year-end accounts.
Get in touch with us today and see how we can help.
Management accounts are financial reports produced for and used by business owners and managers. Management accounts are vital to those running and monitoring any business. It does not matter if your business is small or if you have built your firm to become a large organisation, management accounts highlight several critical indicators regarding performance and help highlight if you are achieving set targets within specified time frames.
Typically management accounts are produced on a monthly basis and will include:
- KPI’s
- Profit & loss statement
- The cash position
- The balance sheet
Through your management accounts, you can access:
- Staff and management performance
- Show how customers are performing and their effect on your business
- Cashflow
- Billing
- Pinpointing your business’s ‘star performers’ as well as those who are underperforming.
In summary, management accounts are a powerful tool that will help you run your company and help you understand the financial health of your business.
Let our accounting service help you build and understand the bigger picture by explaining how management accounts can be of benefit to your business.
Get in touch with us today and see how we can help.
Bookkeeping places an enormous burden on you and your staff!
We can remove the burden of recording and organising your financial data by taking care of all your bookkeeping and accounting needs, including the preparation of your annual accounts.
Our first step is to work with you so we can gain a full understanding of your business. We then tailor our accounting service to your requirements so we can provide the exact approach you need.
Besides your core bookkeeping, we can also maintain your VAT records, prepare and audit your group pension fund, and take on short-term projects to relieve your staff of any temporary overload.
Perhaps the most important part of this bookkeeping service is the preparation of management accounts. These are vital to the continued success of your business. We discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.
Contact us today for a no-obligation consultation about your accounting needs.
Managing payroll can be a real hassle for any size of business. Irrespective of if you are a freelancer, a small business owner, or a director of a large corporation with many employees, running an efficient payroll system is not always easy.
The process can be a very time-consuming and labour-intensive task. Small business owners and payroll bureaus can sometimes struggle to accurately calculate payroll and pay employees wages on time.
Payroll outsourcing can also be a low-cost option offering a fixed monthly fee, saving your business both time and money in the long run.
RTI compliant
All UK businesses running payroll need to be fully compliant with Real Time Information (RTI).
Ours is a comprehensive payroll service, providing HMRC reporting, P60s or P45s, P11Ds, Auto-Enrolment & RTI compliance. It is one of our stand-out accountancy services. We implement payroll processes to help you focus on the growth of your business.
Whether you need to run monthly or weekly wages, we will provide you with the support you need so you stay on top of all your requirements, saving you time and money and relieving you of the administrative burden.
We will set up and run your pay run for you on agreed timelines and provide payslips so they can be delivered directly to your staff. We apply all necessary deductions, e.g. National Insurance, PAYE, Bonuses, Pensions, etc., and ensure calculations are accurate and payroll is delivered on time, for every payment period.
Give us a call today on 020 7631 3080 to arrange a meeting to discuss how our accounting service can deliver your payroll needs.
Everyone knows that a successful business must plan ahead, but all too often the pressures of keeping the business going on a daily basis mean that strategic planning is not given the attention it needs. The result is often rushed judgments, over or under-capacity, or missed opportunities.
Every business owner needs a planning adviser who has the time and space to take the long view and advise on appropriate courses of action before it is too late. With years of experience advising the local business community, we have a wealth of experience and expertise for you to draw on.
Arrange a convenient time with us to discuss your planning review.
The term ‘self assessment’ continues to prove to be one of the great misnomers of all time. Many taxpayers struggle to understand complex Personal Tax Returns and complete them correctly.
Late returns can result in an initial penalty of £100, and this will increase substantially further if not addressed.
Who needs to send a tax return?
Generally, this will apply if:
- you are self-employed as a ‘sole trader’ and earn more than £1,000 (before taking off anything you can claim tax relief on)
- you are a partner in a business partnership
- you earn £100,000 or more
You may also need to send a tax return if you:
- receive money from renting out a property
- receive tips and commission
- receive income from savings, investments and dividends
- have a foreign income
- profit from selling assets such as buy-to-let property or shares
- have an income over £50,000 and receive child benefit
- receive income from the UK but live abroad
- are a trustee
You can save yourself a lot of time, worry, and money by using our accounting service for self assessment. We will manage your self assessment and submit your personal tax return. We will do all the necessary computations, complete your return, and even offer advice about how you can minimise your tax liability.
By appointing us as your agent and handle your tax affairs, we can deal directly with HMRC on your behalf and, should you be selected for a self assessment enquiry, act for you at any meetings.
Contact us or arrange a meeting to find out how we can help you or if you have any concerns about your personal tax return or filing a self assessment.
Making Tax Digital
It is now mandatory for VAT-registered businesses to keep records and submit their VAT returns digitally.
Value Added Tax is one of the most complex and onerous tax regimes imposed on businesses – so complex that many businesses inadvertently overpay or underpay VAT.
The ever-widening scope of VAT, the constant stream of detailed changes to the regulations, and the ever-growing demands of HMRC call for a trained professional eye to ensure that you do not fall foul of the regulations and do not pay the Exchequer more than you need to!
We provide an efficient cost effective VAT service, which includes:
- Assistance with VAT registration
- Advice on VAT planning and administration
- Use of the most appropriate scheme
- VAT control and reconciliation
- Help with completing VAT returns
- Planning to minimise future problems with HMRC
- Negotiating with HMRC in disputes and representing you at VAT tribunals
We will help you file your VAT returns digitally and provide VAT advice and assistance whenever you need it.
We use approved accounting software Xero, QuickBooks and Sage, and are fully accredited and MTD compliant.
If you have any questions about VAT or would like to find out more about how we can help you with Value Added Tax, then get in contact.
Auto-enrolment makes it compulsory for employers to add eligible job holders into a pension scheme and make contributions into the scheme.
Our clients really benefit from our comprehensive auto-enrolment and pensions service! We can set up your workplace pension scheme with the pension provider of choice and assist you with submissions and compliance.
We can help and offer guidance on:
- Onboarding staff for Auto-enrolment
- Help you understand your responsibilities as an employer
- Checking employee eligibility criteria
- Manage employee data.
Cash flow is a measurement of the amount of cash flowing in and out of your business over a specified period of time.
When your business’s cash flow is positive, it has more cash going into it than leaving it. When your business’s cash flow is negative, the opposite is true.
A long period of negative cash flow can make it hard for businesses to pay their bills and cover their other expenses.
Cash flow forecasts
A cash flow forecast helps business owners to identify how money moves in and out of their business and it helps them predict future cash movements. Creating a cash flow report on a regular basis gives you a snapshot of the financial health of your business and helps understand the impact of sales, purchases, and other business costs on your cash balance. It also helps spot trends and plan for any future borrowing needs.
A vital tool for business, cash flow management helps you understand how much money is available so you can keep it running effectively.
We provide clients with an accurate and comprehensive accountancy service that reports on their cash flow and future forecast. Contact us today to learn how we can help you!
If you are running or starting a new business, you need to be able to plan ahead. Financial plans and forecasts are vital for business success and are an essential part of a Business Plan.
What’s the difference between financial planning and forecasting?
A financial forecast offers an estimate of future income and expenses. A financial plan is a process that lays out the necessary steps to generate the predicted future income and how this covers future expenses.
Making a plan is one thing, but sticking to it is another! By tracking key metrics such as sales and orders, cash flow, and expenditure, you can assess the viability of your plan. A well-run business can still fail due to a lack of funds.
If you think you need help with your business, its future plans, and financial forecasts, please get in touch with us so we can help you. We can help you to help your business grow by building a realistic financial forecast.
A successful company can grow organically or by acquiring businesses. When a company acquires a controlling stake in another business, accounting rules require that financial statements are consolidated.
Consolidating financial reports takes time and is not without its complications.
As a full-service chartered accountancy advisor, we can expertly guide you through the process providing you with a set of financial statements, including parent and subsidiary profit and loss, stock summary, cash flow, consolidated balance sheet, and more.
Working with the best accounting software...
