Accounts Preparation & Business Services
We understand the pressures of running a business; especially an owner managed business. Our dedicated team provides high quality advice and assistance in every aspect of your financial and accounting function. This allows you to focus your energies on generating income from your business activities.
Our extensive range of clients, from small family-owned limited companies to sizeable limited companies, relies on us to help them with their accounting needs. We also advise partnerships, sole traders and professional partnerships, including doctors, dentists, architects and solicitors.
These clients operate across most business sectors and we offer extensive experience on advising businesses in the construction industry; retail and service industries; pharmacies and healthcare; hotels and leisure industry; property development and facilities management.
French Duncan Business Services can offer advice and assistance in:
All UK limited companies are obliged to prepare and file statutory accounts with Companies House. Sole traders and partnerships have an obligation to submit financial information to HMRC and in accordance with general accounting standards.
We will help you meet your statutory financial reporting requirements and, as part of our core service, we will:
- prepare annual financial statements in the required statutory format;
- assist in meeting Companies House filing deadlines for limited companies;
- electronically tag accounts to comply with HMRC IXBRL formatting; and
- liaise with our tax department to ensure information is complete to assist in meeting HMRC tax filing deadlines.
Our team offers a wealth of experience on the interpretation of this financial information and works closely with you to help you understand the financial results of your business. We will provide advice on how to use this information to help make decisions about how to grow and develop your business.
Should you wish to monitor the financial performance of your business on a more regular basis, we can assist SMEs in the UK with preparation management accounts.
Management information can be produced on a monthly or quarterly basis and provides a vital management tool to help you make the right decisions for your business. We provide financial information to suit your organisation and help you review and evaluate this information on a regular basis. We can also provide:
- analysis of Key Performance Indicators (KPIs);
- variance reporting;
- preparation annual budgets; and
- financial projections.
Management accounts are often specifically requested by the bank or other external funders. We will ensure that the management information required to meet any of your financial covenants are produced within the reporting deadline.
If you are seeking a financial controller or a management accountant, but cannot justify the costs associated with appointing a full time employee to perform these services, we can provide a tailored service to suit your business requirements. We would be delighted to be part of your financial support team.
Administering your payroll can be time consuming and burdensome. The task is made all the more challenging by the growing complexity of taxation and employment legislation and the accompanying regime of penalties for non-compliance imposed by HMRC.
We provide a comprehensive and confidential monthly, fortnightly or weekly payroll service which meets your business needs and can include:
- customised payslips;
- administration of PAYE, NIC, SSP and SMP;
- completion of statutory forms, including year end returns;
- summaries and analyses of staff costs;
- administration of incentive schemes, bonuses, pension schemes, termination payments etc; and
- advice on HMRC Real Time Information procedures (RTI)
Read more about what Payroll services we can offer
Book-keeping and accounting systems
A business is expected to keep its accounting records to a certain standard and, for limited companies, company law states that it is the director’s responsibility to maintain adequate books and records. We can help you meet this requirement. If an HMRC enquiry process commences, we can provide services to ensure your accounting records and systems are to the required standard. Our experienced team can provide:
- full or partial assistance with your book-keeping function, maintaining your accounting records on an industry recognised accounting package;
- advice on the set up and implementation of accounting systems and controls within your business; and
- advice and assistance to help ensure that your records are sufficiently robust to withstand an HMRC enquiry.
For businesses eligible for VAT, we can prepare a monthly or quarterly VAT return from your books, or from accounting records maintained on your behalf.
We will submit the VAT return to HMRC electronically, within the required filing deadline, and advise you timeously of the required payment to be made to avoid any penalties arising.
We will liaise closely with our VAT specialists should any VAT issues arise.