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Accounting and taxation

Company accounting

Every limited company must do bookkeeping and accounting as well as keep accounting records. That applies also to non-trading and dormant companies. Limited companies may keep their accounts on their own or employ an accounting office such as Capital Business Links Ltd to record, classify, summarize, report and analyse their invoices, receipts, bank statements and payrolls.

 

Business accountancy is not an abstract and useless activity. On the contrary, it is supposed to assist you in running a company on a daily basis. Professional bookkeeping and accounting are indispensable for the following purposes:

  • To prepare company’s accounts for Companies House.
  • To prepare company’s Corporation Tax and VAT returns for HM Revenue & Customs.
  • To control accounts with shareholders, employees (payroll), creditors and debtors.
  • To communicate financial information and prepare financial reports.
  • To prepare financial documentation for investments, bank loans and insurances.
  • To deliver reports on inventory and assets.

Company’s accounting records should include in particular:

  • Revenue account.
  • Record of company’s assets and liabilities.
  • Stock record if the company deals in goods.

A limited company (ltd) is obligated to keep its accounting records at its registered office or a place that its directors consider suitable. If you do not keep all company records at its registered office, you have to inform Company House about it and provide the address of the location where your company records are stored. The records must be accessible for inspection at all times. Private companies must keep accounting documents for 3 years.

 

Capital Business Links Ltd provides limited companies with professional accounting and bookkeeping services. Our offer covers all aspects and areas of recording, presenting and interpreting business transactions. If you would like to learn more about our accounting services for limited companies (ltd), please contact us on the telephone number 0208 567 99 44 or at our e-mail address.