Our Services

BOOKKEEPING

The bookkeeping service is described as the process of recording financial transactions. This service is usually performed by our trained and skillful bookkeeper whose work are supervised and by our expert accountants. Our accountants create reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies.

Our bookkeeping service will assist you in running your business in a more efficient way. You will have no more fears about late submission and missing HMRC deadlines, no more fines, no more VAT compliance, complete avoidance of stress so that time will be spent on other important things.

Our bookkeeping tasks consist of the following:

• Writing the "daybooks - The daybooks consist of purchases, sales, receipts, and payments.
• Our bookkeepers are responsible for ensuring all transactions are recorded in the correct day book, suppliers' ledger, customer ledger and general ledger.
• Extract of trial balance
• Set up accounting and filing system.
• VAT Returns
• Update daily, monthly and yearly accounting records such as Sales, Purchases, Bank and Cash accounts and general ledgers
• Monthly bank, petty cash, sales, purchase ledger and salary control reconciliation.

ACCOUNTANCY

The financial statements of a business or an organisation is made up at the end of an accounting period, usually the fiscal year. The final accounts consist of the following accounts stated below:

• Trading account
• Manufacturing account
• Profit and loss appropriation account
• Profit and Loss Account Or Income and Expenditure Accounts
  (Statement of Recommended Practice) for Non Profit Making organisation
• Balance Sheet

These accounts show the gross profit, net income, and distribution of net income figures of the company or organisation.

Our team can produce these final accounts more often than once a year and it will give the information to the owner(s) and other users on how the business is progressing and also the trustees and donors for the voluntary sector on how their grants or funds has been use over the period.

However, it is customary to produce annual or final accounts for the benefit of the Inland Revenue, bank managers and other interested parties. Limited companies have a legal responsibility to report to their shareholders each year, while none trading organisation such as charitable organisations report financial results to the members, public, funders and government agencies annually.

Our services:

As final accounts preparation is the fundamental part of our operation our teams have the expertise and ability to meet your needs promptly and efficiently and they produce the following services stated below:

• Final accounts to comply with Companies house, HMRC and (Charity commission for voluntary organisations)
• End of year accounts, corporation tax and management account Profit and Loss Account, Balance Sheet, Corporation Tax Calculation and submission of returns to HMRC
• Management reports for managers and other stakeholders of your company or organisation
• Accounts for partnerships, contractors, landlords and all types of sole trading businesses

PAYROLL ADMINISTRATION

Payroll administration encompasses all the tasks involved in paying an organisation's employees. It typically involves keeping track of hours worked and ensuring that employees receive the appropriate amount of pay. It also includes calculating taxes and National Insurances Contribution, as well as ensuring that they are properly withheld and processed. Depending on the company in question, a full range of other deductions may be calculated, withheld, and processed as part of payroll administration. Additionally, the processing of contractor payments may fall under the umbrella of payroll administration.

The specific tasks involved in payroll administration tend to vary according to the needs of each unique company or organisation. For example, some companies have workers that receive commissions in addition to salaries. In these companies, including commissions in employee salaries is a part of payroll administration. For some companies, it also involves assigning exempt or non-exempt status to workers, adding bonuses into pay cheques, calculating overtime payments, and adhering to applicable employment laws.

Handling payroll-related problems are part of payroll administration as well. If an employee is paid an incorrect amount or a direct deposit fails to go through, both things are payroll administration issues. Likewise tax filing and deduction errors are payroll administration matters as well.

We are able to provide a complete service, whatever the size or complexity of your business. We will take care of all your payroll needs using up-to date technology.

Our services:

• Calculate Monthly Pay, and advise of the PAYE, Employee NIC and Employer NIC
• Process your payroll and supply all pay slips and all summary reports
• Submission of P30 (PAYE and NIC)
• Calculation of all Statutory Payments (Maternity Pay, Paternity, Statutory Sick Pay)
• Annual payroll return to be file online and producing of P60 and P35

TAXATION

Value Added Tax

A value added tax (VAT) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the "value added" to a product, material or service, from an accounting point of view, by this stage of its manufacture or distribution. The manufacturer remits to the government the difference between these two amounts, and retains the rest for themselves to offset the taxes they had previously paid on the inputs.

The "value added" to a product by a business is the sale price charged to its customer, minus the cost of materials and other taxable inputs. A VAT is like a sales tax in that ultimately only the end consumer is taxed. It differs from the sales tax in that, with the latter, the tax is collected and remitted to the government only once, at the point of purchase by the end consumer. With the VAT, collections, remittances to the government, and credits for taxes already paid occur each time a business in the supply chain purchases products.

We can assist in ensuring that your business complies with the regulations so that overpayments can be avoided.

• VAT registration
• Advice on VAT planning and administration
• Use appropriate scheme
• VAT control and reconciliation

Completing VAT returns and submission

Tax Return

In the United Kingdom, a tax return is a document that must be filed with the HM Revenue & Customs declaring liability for taxation. Different bodies must file different returns with respect to various forms of taxation.

Who needs to complete a tax return?

If you pay tax on your earnings or pensions through PAYE (Pay As You Earn) tax is deducted automatically and self-assessment is not usually necessary. But if you have more complicated tax affairs, you may need to complete a self-assessment tax return. This includes the self-employed, company directors or trustees and people who have foreign or rental income.

It also includes employees, pensioners, those who receive untaxed income and annual investment income.

Corporation tax

A company must file a return, using form CT600, and assess its liability to tax, normally within 12 months of the end of its accounting year.

The main returns currently in use are:

• SA100 for individuals paying Income Tax
• SA800 for partnerships
• SA900 for trusts and estates of deceased persons
• CT600 for companies paying Corporation Tax
• P35 for PAYE deductions by employers and National Insurance contributions
• VAT100 for value added tax

We strive to ensure that our clients' tax affairs are run in the most tax efficient and profitable manner. We are tax specialists and can provide you with tax advice throughout the year.

Our Services:

• Income tax
• Capital Gains tax
• Corporation tax calculation and quarterly instalment payments.
• Corporate tax planning
• Help in making a tax return or tax returns
• Obtain refund from HMRC

BENEFITS

• Taxes saving
• Understanding private and charity accounts
• Continuous professional support and advice
• Accountancy, Audit and Independent examination charge will be reduced
• Management reports will be produced on time
• Investor, funding organisation and Donor reports will be produced on request
• Telephone and one to one support will be available
• Professional Staff will visit businesses and organisation premises
• Our services are built on the individual needs of the organisation and not using the one size fits all system
• Our services are cost effective

OUTSOURCING

We provide services to other accountants as another part of our business operation. Our main aim is to establish a long-term relationship with accountants by providing your customers with routine accounting services that you do not have the capacity with those accounting aspects you are not geared to carry out, such as bookkeeping, accountancy, taxation and payroll

COMPANY FORMATION-START UP

• Set up limited companies and provide advice on available company names, share allocation and content of the Memorandum and Articles of Association
• Complete any registration procedures with Companies House and HMRC
• Advice on the most suitable business structure such as sole trader, partnership or limited company

Other Consultancing Services

• Set up accounting system compliant with statutory requirements
• Advice on computer software and hardware and help with installation of accountancy software
• Advice on business compliance and administration
• Family companies with multiple interests
• Business turn around and risk management

CONSULTANCY MANAGEMENT ACCOUNTING

Management accounting or managerial accounting is concerned with the provisions and use of accounting information to managers within organisations, to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions.

In contrast to financial accounting information, management accounting information is:

• forward-looking, instead of historical;
• model based with a degree of abstraction to support decision making generically, instead of case based;
• designed and intended for use by managers within the organisation, instead of being intended for use by shareholders, creditors, and public regulators;
• usually confidential and used by management, instead of publicly reported;
• Computed by reference to the needs of managers, often using management information systems, instead of by reference to general financial accounting standards.

We can help to evaluate and monitor your businesses financial position.

• Produce monthly and quarterly management reports such as budget vs. actual income and expenditure; cash flow forecast; financial planning
• Reviewing your bookkeeping information and producing specifically-tailored financial reports that are useful to both the management and or investors
• We produce management accounts for clients, comparing results with prior periods or against budget.
• Review credit control, stock control, budgeting and financial reporting systems.
• Advice on problems and issues such as gross profit, cost control and stock valuation.
• Small companies and voluntaries organisations seeking to expand and develop
• Preparation of business plans, cash flow projections, budgets, and trading forecasts
• Financial Risk Assessment
• Business & tax advice.
• Prepare monthly, quarter and yearly financial reports that will help the business in decision making.
• Advice on computerised systems and the producing of accurate and timely information

Financial Support

• One to one financial advice
• Group financial advice
• Debts
• Saving and Investment

Mentor and Career Advice

• Education and career
• Personal and professional development