Services | Company accounts

File company accounts with ease

We make it simple to file your company accounts. Our team offers efficient and accurate account preparation to ensure compliance and provide you with peace of mind.

Get your company accounts filed today

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What are company accounts?

Company accounts are financial records that show how a business is performing. They include key financial details and help ensure compliance with tax and legal requirements.

Why are company accounts important?

Track financial health

Show income, expenses, assets, and liabilities.

Ensure compliance

Meet HMRC and Companies House requirements.

Plan for growth

Help make informed business decisions.

Secure funding

Provide financial details for loans or investments.

Common challenges businesses face

Managing company accounts can be overwhelming, especially with constantly changing regulations and deadlines. Here are some common challenges businesses face and how NJM Accountancy Ltd. can help:

Missing deadlines

Late submissions can lead to penalties and fines. We ensure your accounts are filed on time which keeps you compliant with HMRC and Companies House.

Inaccurate records

Errors in financial records can cause cash flow issues and tax miscalculations. Our expert accountants review and organise your records for accuracy and reliability.

Compliance risks

Staying up to date with tax laws and reporting requirements is challenging. We handle compliance, so you don’t have to worry about missing critical updates.

Time-consuming paperwork

Managing accounts takes valuable time away from running your business. We simplify the process which makes it easier and more efficient.

Lack of financial clarity

Without proper accounts, it’s hard to make informed business decisions. We provide detailed reports and insights to help you stay on track.

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With NJM Accountancy Ltd., you get expert support to manage these challenges with confidence.

We can help with:

Management accounts

We handle your accounts on a monthly, quarterly, or annual basis to give you a clear picture of your financial performance.

Budgets & forecasts

We assist in creating accurate budgets and forecasts to help you plan for the future and manage your resources effectively.

Reports

We prepare and submit detailed financial reports, so you can concentrate on growing your business without worrying about paperwork.

Accounts for all businesses

Whether you’re a sole trader, partnership, limited company, or a larger business, we provide services to meet your specific needs.

Statutory accounts

We ensure your limited company accounts comply with statutory requirements and accurately reflect your financial activities.

Accounting software

As partners with QuickBooks, Sage, and Xero, we use the latest software to manage your accounts efficiently and effectively.

How our process works

We follow a straightforward process to ensure your company accounts are accurate, compliant, and submitted on time.We discuss your business needs and gather essential financial information.

Initial consultation

We discuss your business needs and gather essential financial information.

Data collection & review

Our team reviews your records and ensures all financial data is accurate and up to date.

Account preparation

We prepare your company accounts, including profit and loss statements, balance sheets, and statutory reports.

Compliance check

We ensure your accounts meet HMRC and Companies House requirements.

Final review & submission

Once approved, we file your accounts with the relevant authorities.

Ongoing support

We provide year-round guidance to help you stay on top of your finances.

Let us handle the process for you!

Why choose NJM Accountancy Ltd. for your company accounts preparation

Streamlined approach

Our process gives you accurate accounts on time with ease and efficiency.

Personalised support

We provide regular updates and support to help you understand your financials and address any issues.

Quality service

We are providing high-quality service and building strong client relationships to ensure your satisfaction.

FAQs on company accounts

What happens if I file my accounts late?

Late filing can result in penalties from Companies House, starting from £150 for a private company and increasing the longer the delay. Persistent late filing can also harm your company’s reputation and lead to possible legal action.

Do I still need to file if my company made no profit?

Yes, even if your company made no profit or was inactive, you must still file accounts. A dormant company must submit dormant accounts to Companies House to remain compliant.

What financial records do I need to keep?

You must keep records of all income, expenses, assets, liabilities, and transactions. This includes bank statements, invoices, receipts, payroll records, and VAT documents.

How long do I need to keep my company accounts?

HMRC requires businesses to keep financial records for at least six years. Some documents, such as payroll records, may need to be kept longer.

Can I file my own company accounts, or do I need an accountant?

You can file your own accounts, but many businesses choose to work with an accountant to ensure accuracy, compliance, and to save time.

When is the deadline to file company accounts?

For a new company, the first accounts must be filed within 21 months of incorporation. After that, annual accounts must be filed within nine months of the company’s financial year-end.

What happens if my company is dormant?

Dormant companies must still file accounts with Companies House, but they can submit simplified dormant accounts instead of full financial statements.

Do I need to register for VAT to file company accounts?

No, VAT registration is separate from company accounts. You only need to register for VAT if your taxable turnover exceeds the threshold (currently £90,000).

Can I change my company’s accounting period?

Yes, you can change your accounting reference date by applying to Companies House, but there are restrictions on how often you can do this.

Do I need to file accounts if I close my company?

Yes, you must file final accounts and a tax return before closing your company officially.

How do I correct an error in my filed accounts?

If you notice an error, you must resubmit the corrected accounts with a note explaining the changes. Companies House may also allow limited corrections for minor mistakes.

How do I know if my business needs an audit?

Most small businesses are exempt from audits, but if your company exceeds certain thresholds in turnover, assets, or number of employees, an audit may be required.

Can I extend my deadline for filing company accounts?

In exceptional circumstances, you can apply to Companies House for an extension, but this is rarely granted unless there is a valid reason.

How can NJM Accountancy Ltd. help with my company accounts?

We handle the entire process, from preparing and filing your accounts to ensuring compliance with all legal requirements. Our team ensures accuracy, prevents missed deadlines, and provides ongoing support to keep your business on track.

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File your company accounts with confidence

Choose NJM Accountancy Ltd. to handle your finances and let us support your company accounts in Bangor, Belfast, and rest of UK.