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Annual Accounts for Growing UK Businesses
Accurate, HMRC and Companies House compliant statutory accounts, prepared by qualified accountants so you can file with confidence.
Every UK limited company must prepare annual accounts each year, whatever its size or turnover. These statutory accounts give Companies House, HMRC, shareholders and lenders an accurate picture of your company’s financial position, and getting them wrong, or filing late, can mean penalties that grow the longer they are left unresolved. At Durhams Accountants we prepare clear, accurate annual accounts for limited companies across Wakefield, Yorkshire and the wider UK, handling the technical detail so you can focus on running your business. From sole director companies to growing SMEs, we make sure your accounts are filed correctly and on time, every year.
What's Included in Your Annual Accounts
Your annual accounts, also known as statutory accounts, typically include a balance sheet showing what the company owns and owes on the last day of the financial year, a profit and loss account summarising income and expenses, notes explaining the figures in more detail, and a director’s report where applicable. Smaller companies can usually file an abridged or filleted version with Companies House, with less detail made public, while a fuller set is still prepared for HMRC and your own records. We prepare both versions as part of our service, so you always have the complete picture even where only a summary is published.
Who Needs to File Annual Accounts?
Every active limited company registered at Companies House must file annual accounts, whether or not it has traded, made a profit, or is currently dormant. This covers small businesses, contractors operating through their own company, and larger SMEs alike. Sole traders and partnerships do not file accounts with Companies House in the same way, though accurate records are still needed for Self Assessment. If you are unsure whether your company needs to file, or whether it qualifies as dormant, we can quickly confirm your position and make sure nothing is missed.
Key Deadlines and Penalties
Private limited companies must normally deliver their accounts to Companies House within nine months of their financial year end, with a slightly different deadline for the first year after incorporation. Corporation Tax is due nine months and one day after the year end, while the CT600 return itself must be filed within twelve months. Miss the Companies House deadline and a late filing penalty applies automatically, starting at £150 and rising to £1,500 for accounts filed more than six months late, and the penalty doubles if you file late two years running. We build reminders into our process well ahead of each deadline, so these costs are entirely avoidable.
Our Process: How We Prepare Your Annual Accounts
1
Gather your records
Bank statements, sales and purchase information, payroll data and any existing bookkeeping.
2
Prepare a draft
We draft a full set of accounts, reconciling the figures and flagging anything that needs a closer look.
3
Review together
We talk you through the results in plain English and answer any questions before anything is finalised.
4
Finalise and approve
Once you’re happy, we finalise the accounts ready for submission.
5
File on time
We file with Companies House and HMRC well ahead of the deadline, and send you copies for your records.
Switching Accountants Made Simple
Many clients come to us partway through their financial year, often because their current accountant is slow to respond, difficult to reach, or more expensive than expected. Switching is far simpler than most business owners expect, and you don’t need to wait until your year end to make the move. We handle the process on your behalf: requesting professional clearance and your records from your previous accountant, reviewing your bookkeeping to date, and picking up exactly where you left off, with no disruption to your filing deadlines.
Why Choose Durhams Accountants
Choosing who prepares your annual accounts matters, since the right support goes beyond the numbers. We are qualified accountants who get to know your business, so we can spot opportunities and flag issues long before deadlines loom. You’ll have a dedicated point of contact, straightforward pricing with no surprise fees, and accounts delivered well ahead of time rather than a last-minute scramble. Based in Wakefield and serving clients across Yorkshire and the wider UK, we combine local, personal service with the technical knowledge of a modern accountancy practice, so your statutory accounts are accurate, compliant and genuinely useful to your business.
Frequently Asked Questions
Do I need annual accounts if my company hasn't traded yet?
Yes. Every company registered at Companies House must file annual accounts each year, even if it is dormant or has not yet started trading. We can prepare simplified dormant company accounts quickly and cost-effectively.
What's the difference between annual accounts and a Corporation Tax return?
Annual accounts are filed with Companies House and show your company’s financial position, while the CT600 Corporation Tax return is filed with HMRC and calculates how much tax is due. We prepare both together, so the figures match and nothing is duplicated.
How far in advance should I send you my records?
Ideally as soon as possible after your financial year end, and at least two months before your filing deadline. This gives us time to query anything unusual and gives you time to plan for any tax due, rather than facing a last-minute bill.
Can you help if my accounts are already overdue?
Yes. We regularly help companies catch up on overdue accounts, working quickly to minimise further penalties and get you back on track with a clear system for future years.
Do you only work with limited companies, or can sole traders use this service too?
This service is specifically for limited companies filing statutory accounts with Companies House. If you’re a sole trader or partnership, we offer a separate bookkeeping and Self Assessment service tailored to your needs.
How much does it cost to prepare annual accounts?
Costs depend on the size and complexity of your company, and whether your bookkeeping is already up to date. We offer fixed, transparent pricing agreed in advance, so you always know what to expect with no hidden extras.
Ready to get your annual accounts sorted?
Talk to a qualified accountant for a no-obligation quote, or use the form alongside this page.