UK Finance (uk.finance) Discussion about Finance issues in the UK.

Reply
 
LinkBack Thread Tools Display Modes
  #1   Report Post  
Old December 16th 06, 04:40 PM posted to uk.finance
AD AD is offline
external usenet poster
 
First recorded activity by FinanceBanter: Dec 2006
Posts: 2
Default submitting abbreviated accounts

hi,

anyone have any advice on submitting abbreviated accounts? what do I need to
send to Companies House?

I have produced a balance sheet and profit and loss sheet for the year in
question, do I just send that to them?

An accountant wants to charge me over 1000 for submitting the accounts, but
also wants to audit them.
I don't have money for this as the company makes no money and I am a
student.


thanks







  #2   Report Post  
Old December 16th 06, 05:33 PM posted to uk.finance
external usenet poster
 
First recorded activity by FinanceBanter: Oct 2005
Posts: 20
Default submitting abbreviated accounts

sounds over the top quote and no reason for audit assuming you meet
exemption criteria. Your best of having an accountant for many reasons. I
know we bill small companies less than that, especially if reliable records
are in place. Suggest another quote! Where you based?



  #3   Report Post  
Old December 16th 06, 05:37 PM posted to uk.finance
external usenet poster
 
First recorded activity by FinanceBanter: Jun 2004
Posts: 408
Default submitting abbreviated accounts


"AD" <[email protected] DDDD.COM wrote in
message ...
hi,

anyone have any advice on submitting abbreviated accounts? what do I need
to
send to Companies House?

I have produced a balance sheet and profit and loss sheet for the year in
question, do I just send that to them?

An accountant wants to charge me over 1000 for submitting the accounts,
but
also wants to audit them.
I don't have money for this as the company makes no money and I am a
student.


thanks



I would have thought that any accounts submitted must be audited - you
could come up with any figures if this was not the case.

I am no expert but would think that this is a condition of any limited
company.




  #4   Report Post  
Old December 16th 06, 05:46 PM posted to uk.finance
AD AD is offline
external usenet poster
 
First recorded activity by FinanceBanter: Dec 2006
Posts: 2
Default submitting abbreviated accounts


"eyup" wrote in message
...
sounds over the top quote and no reason for audit assuming you meet
exemption criteria. Your best of having an accountant for many reasons. I
know we bill small companies less than that, especially if reliable
records are in place. Suggest another quote! Where you based?


brighton and gloucester

turnover less than 50k for first year, i am the only employee,
company is now not trading and I will probably wind it up in the new year,



  #5   Report Post  
Old December 16th 06, 06:02 PM posted to uk.finance
external usenet poster
 
First recorded activity by FinanceBanter: Oct 2005
Posts: 20
Default submitting abbreviated accounts

Sounds like on size limits you dont need audit so unless your into financial
services I think you'd be safe from an audit. I'm sure if you ring around
local firms and explain situation you'll find one that will get accounts
sorted and desolve the company for well under 1000. I'm not sure whether
you can submit accounts yourself without a qualified accountant but sure
someone will be along to let you know that one.




  #6   Report Post  
Old December 16th 06, 06:11 PM posted to uk.finance
external usenet poster
 
First recorded activity by FinanceBanter: Jun 2005
Posts: 2,457
Default submitting abbreviated accounts

In message , Eric Jones
writes
I would have thought that any accounts submitted must be audited - you
could come up with any figures if this was not the case.

I am no expert but would think that this is a condition of any limited
company.


Not any more. The threshold is t/o of about 5m. There are exceptions
such as FSA regulated companies but even that is changing form next
year.
--
John Boyle
  #7   Report Post  
Old December 16th 06, 06:13 PM posted to uk.finance
external usenet poster
 
First recorded activity by FinanceBanter: Jun 2005
Posts: 2,457
Default submitting abbreviated accounts

In message , AD
<[email protected] DDDD.COM writes
I have produced a balance sheet and profit and loss sheet for the year in
question, do I just send that to them?

An accountant wants to charge me over 1000 for submitting the accounts, but
also wants to audit them.


You dont need an audit.

The info needed is quite limited but there are some other thngs like
directors details etc., An Acct wold do just that few a few hundred
quid.
--
John Boyle
  #8   Report Post  
Old December 16th 06, 08:05 PM posted to uk.finance
external usenet poster
 
First recorded activity by FinanceBanter: Jul 2003
Posts: 1,485
Default submitting abbreviated accounts

On Sat, 16 Dec 2006 19:02:41 -0000, "eyup" wrote:

Sounds like on size limits you dont need audit so unless your into financial
services I think you'd be safe from an audit. I'm sure if you ring around
local firms and explain situation you'll find one that will get accounts
sorted and desolve the company for well under 1000. I'm not sure whether
you can submit accounts yourself without a qualified accountant but sure
someone will be along to let you know that one.

You don't need a qualified accountant but you should use someone who
does it all the time otherwise they would not be able to do it
properly.

--
Peter Saxton from London

  #9   Report Post  
Old December 16th 06, 08:07 PM posted to uk.finance
external usenet poster
 
First recorded activity by FinanceBanter: Jul 2003
Posts: 1,485
Default submitting abbreviated accounts

On Sat, 16 Dec 2006 19:13:24 +0000, John Boyle
wrote:

In message , AD
<[email protected] DDDDD.COM writes
I have produced a balance sheet and profit and loss sheet for the year in
question, do I just send that to them?

An accountant wants to charge me over 1000 for submitting the accounts, but
also wants to audit them.


You dont need an audit.

The info needed is quite limited but there are some other thngs like
directors details etc., An Acct wold do just that few a few hundred
quid.


I would charge around 400 pounds for taking fully reconciled draft
accounts and putting them into full and abbreviated statutory accounts
and a tax return.

--
Peter Saxton from London

  #10   Report Post  
Old December 17th 06, 07:17 AM posted to uk.finance
external usenet poster
 
First recorded activity by FinanceBanter: Jun 2006
Posts: 253
Default submitting abbreviated accounts

AD wrote:

I have produced a balance sheet and profit and loss sheet for the year in
question, do I just send that to them?


You don't need to submit a profit and loss account, but you do need some
notes to the accounts, and a director's report.


Reply
Thread Tools
Display Modes

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
How abbreviated can abbreviated balance sheets be? skrivener UK Finance 0 March 31st 11 04:19 PM
Submitting own small company accounts? AnthonyL UK Finance 1 September 2nd 09 05:45 PM
Abbreviated accounts lodged at Companies House Fred UK Finance 2 March 12th 06 11:34 PM
Submitting tax return electronically. Daniel UK Finance 6 January 31st 05 09:39 AM


All times are GMT. The time now is 06:55 AM.

Powered by vBulletin® Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
Copyright 2004-2017 Finance Banter.
The comments are property of their posters.
 

About Us

"It's about UK money and finances"

 

Copyright © 2017