Business Accounting
Financial Statements
Clear, accurate financial statements — for your tax return, your bank and, most importantly, for you.
Overview
How we can help
Financial statements summarise your business's performance and position. They underpin your tax return and are often required by banks, landlords, investors and government programs.
We prepare annual statements from your records, make the year-end adjustments needed, and walk you through what the numbers say about your business.
What's Included
Our financial statements service
Profit and loss
Income and expenses for the year.
Balance sheet
Assets, liabilities and equity at year end.
Year-end adjustments
Depreciation, accruals, prepayments and stock.
Notes and schedules
Supporting detail where required.
Comparatives
This year against last, so trends are clear.
Walk-through
What the numbers mean, in plain English.
Good to Know
Key things to know
- 01
Special-purpose statements
Most small businesses prepare special-purpose financial statements, designed for their owners and tax purposes rather than public reporting.
- 02
Finance applications
Lenders typically ask for recent financial statements and tax returns. Having them ready can speed up approvals.
- 03
Start with good records
Statements are only as good as the bookkeeping behind them. Reconciled accounts make year end faster and more accurate.
- General information only, current at the time of writing. Rules change — please confirm how they apply to you.
FAQs
Common questions
General information only. Your circumstances may differ — contact us for advice specific to you.
Do sole traders need financial statements?
Not always for tax purposes, but a profit and loss and balance sheet are often needed for finance and are valuable for understanding your business.
How long does it take?
It depends on the state of your records. With reconciled bookkeeping, statements can be prepared much faster.
Can you prepare statements for a bank application?
Yes. Let us know the lender's requirements and timeframe when you get in touch.
Enquire
Ask about financial statements
Tell us briefly what you need. We'll reply to arrange a time to talk and confirm the fee before any work begins.