Year End Accounts

Year End Accounts:

 

Unaudited Accounts:

Whether sole trader, partnership or Limited Company we can provide the full package for your year-end accounts:

These requirements vary depending on the status:

 

 

 

Sole Trader

Partnerships

Limited Companies

1

Books & records received

Books & records received

Books & records received

2

Preparation and necessary queries raised to client

Preparation and necessary queries raised to client

Preparation and necessary queries raised to client

3

All reconciliations are completed and supporting working papers are prepared internally for clients  greater understanding

All reconciliations are completed and supporting working papers are prepared internally for clients  greater understanding

All reconciliations are completed and supporting working papers are prepared internally for clients  greater understanding

3

Draft Accounts to 31st Dec completed

Draft Accounts to 31st Dec completed

Draft Accounts to year end completed

4

Meeting to review draft accounts, noting any final adjustments

Meeting to review draft accounts, noting any final adjustments

Meeting to review draft accounts, noting any final adjustments

5

Profit & Loss Accounts and Balance Sheet at 31st December completed. Forms part of Income Tax return for relevant year end

Profit & Loss Accounts and Balance Sheet at 31st December completed.

Computation completed splitting profit between partners.

Forms part of Income Tax return for relevant year end

Detailed Profit & Loss Accounts and Balance Sheet at year end completed for management information only.

 

6

 

 

Financial Statements prepared and issued for signature.

7

 

 

Abridged Accounts prepared and issued for signature

8

 

 

Corporation Tax Return computation and CT1 return prepared and duly submitted to revenue.

9

 

 

B1 Annual Return and Abridged Accounts duly submitted to CRO by annual return date.

 

Note: In some instances it may be necessary to have 2/3 review meeting to ensure the accounts reflect a true and accurate account of trade during the period.

Note:  All Sole Traders & Partnership accounts are completed to 31st December.

            Limited Companies year ends differ - for deadlines see the our ‘News & Important Dates’ page

 

Revenue & CRO deadlines are adhered to by Horizon Accounting in the most pro-active manner possible. We work with our clients to ensure deadlines are met and that un-necessary penalties and interest are avoided.

 

Audited Accounts:

 

Our ultimate aim is to provide a greater financial understanding to our clients of their business; this is where we are different from the standard accountants/auditors practice.

 

Audited Accounts only refer to Limited Companies.

Most Limited Companies can avail of the audit exemption option see xxxxxxxxx

 

Q: Why would a Limited Company want a set of audited accounts completed?

A: They do not met the criteria for the audit exemption

A: The Directors/Shareholders have agreed on an annual set of audited accounts

A: The companies’ bankers may insist on a set of audited accounts

 

At  Horizon Accounting our fees are well balanced and great value for money. When an audited set of accounts are required we complete items no. 1-9 above and  subcontract our the audit for a set fee to one of our associates where all documents and files are provided by Horizon and where any queries (which are very limited) are addressed by ourselves directly to the auditors.

We are not a firm of auditors and find that this practice of subcontracting the audit work our works well for and still maintains value for money for our clients.