Preparation of financial statements

Preparation of financial statements (also known as accounts preparation or accounts production) is a service whereby we use accounting and business records to create an income statement, balance sheet, and explanatory notes for a financial period.

Springbok specialises in preparing accounts for all types of businesses, including Micro, Small, Medium, and Large companies, as well as sole traders and partnerships.

We also prepare accounts for companies whose auditors cannot do so due to independence rules.

iXBRL tagging and submission to Companies House are included as standard with this service.

Springbok does not offer any audit or assurance services, and cannot issue audit opinions on any financial statements including those prepared by Springbok.

The importance of financial statements

Limited companies and Limited Liability Partnerships (LLPs) registered on Companies House are legally required to file financial statements with Companies House on an annual basis. These financial statements are publicly available.

There are no filing requirements for sole traders, partnerships, and other unregistered businesses, although these businesses may need financial statements for other reasons.

Financial statements in business

The primary requirement for accounts, other than for filing with Companies House, is to accompany annual tax returns filed by all registered and unregistered businesses with HMRC.

Finally, financial statements are a key tool in understanding how a business has performed, the value of assets the business owns, and how much is owed to and by the business.

They are frequently used internally by management of businesses, and externally by shareholders and lenders.

Get in contact

Reach out to us today if you have any accounts preparation needs. For information on the other services we offer, see our home page.