Annual statutory accounts are filed once a year at HMRC and Companies House.
In order for your accountant to prepare your accounts, they will require the following information:
- Details of invoices issued for fees and expenses for which payment is received into the bank account
- Details of invoices that you receive for which payment is made out of the company bank account
- A transcription of the company bank account transactions
- A summary of your personal expenses
- A detailed record of all business mileage and entertaining
- Details of fixed asset purchases
You are strongly advised to keep your record-keeping up to date, to avoid penalties for late filing. If you are organised about the way you run your company, this record keeping should not normally take much more than one hour per month, in addition to the time you take to organise your personal expenses.