Financial Reporting

From statutory accounts through to financial statements for lenders, UK businesses are subject to increased scrutiny and digitalised compliance checks; however, there are also more opportunities for entrepreneurial clients to use financial reporting, along with our expert analysis, to their advantage.

Adding value through insightful financial analysis

We carry out a full range of statutory and high-level financial reporting for an established portfolio of fast-growing owner managed businesses (OMBs) and corporate entities. Our expertly prepared reports cover all UK statutory reporting requirements for private and public companies, national groups, overseas parent companies, UK subsidiaries, trusts, charities and partnerships, whilst providing senior management teams with concise and strategic financial analysis to support board level decision making.

Working alongside senior management teams and often integrating with their in-house financial department, we adapt our approach to suit clients’ different structures, financial systems and processes, whilst shaping our reporting and analysis around each clients’ particular priorities.

Many of our clients have complex organisations with international interests, so they can have highly technical financial reporting, compliance and advisory requirements. Whether it’s producing full group accounts, consolidated financial statements, directors’ reports, or audits, our robust quality assurance and insightful analysis, enhances the quality of clients’ financial information. This helps them to identify emerging opportunities and potential performance improvements, which add value to their businesses over the long-term.

  • £10.2>£36m

    The annual turnover thresholds for small and medium-sized companies

    HMRC (figures quoted are for financial years that begin on or after 1 January 2016)
  • £5.1m>£18m

    The balance sheet thresholds for small and medium-sized companies

    HMRC (figures quoted are for financial years that begin on or after 1 January 2016)
  • 50>250

    The average employee thresholds for small and medium-sized private companies in the UK

    HMRC (figures quoted are for financial years that begin on or after 1 January 2016)

Areas we cover:

  • Full and abridged statutory Financial Statements
  • International Financial Reporting Standards (IFRS)
  • Non-small businesses Financial Reporting Standard (FRS 102)
  • Small businesses Financial Reporting Standard (section 1A)
  • Very small businesses Financial Reporting Standard (FRS 105)

Ensuring concise & timely statutory reporting

A springboard for considering wider financial issues

We prepare and file statutory UK accounts for businesses of all sizes according to either the UK Generally Accepted Accounting Practice (UK GAAP), or International Financial Reporting Standards (IFRS). Under the Companies Act 2006, the majority of private companies can choose to prepare their accounts using either reporting framework and we help clients assess which regime is most appropriate.

Organisations’ reporting requirements vary greatly, depending on a number of factors and we can guide clients through the different rules that apply to them, covering micro-entities, small, medium, and large companies, group companies, Limited (LP), Limited Liability (LLP) and General Partnerships (GP). There are simplifications available for micro-entities, small and medium-sized companies, which we can advise on. Additionally, we can provide official financial statements for shareholders, lenders and other key stakeholders, when required.

Along with filing accounts and reports with Companies House, our tax specialists can use annual accounts to prepare disclosures for filing clients’ corporation tax and partnership tax returns with HM Revenue & Customs (HMRC).

Whilst clients’ trust in the quality and efficiency of our financial and tax compliance, this work is also the springboard for us to consider wider tax and strategic issues for clients through our business consulting and corporate advisory divisions. This integrated approach ensures that all financial aspects are being considered to optimise tax efficiency, whilst highlighting emerging commercial opportunities.

Driving financial and operational improvements

We have extensive knowledge and valuable insight into growing businesses, from industries including premium hospitality, music, entertainment, luxury retail, advertising and marketing, property and construction. With particular expertise in strengthening internal financial systems, we work closely with clients to help them select and implement the right software and processes, including reviewing and migrating existing set ups and systems.

As companies expand, there’s more advantage to using the worldwide set of financial reporting standards, IFRS, to give stakeholders a more cohesive view of performance across multiple countries. We can advise clients on migrating to IFRS, as well as guiding them through the transition process.

Related Services

Our work is diverse, multi-disciplined and multi-jurisdictional. We provide a very effective accountancy service for our creative, entrepreneurial and owner managed business clients, along with specialist support and advice on a range of complex cross border tax and VAT issues.

Get in touch

If you’d like more information about this service specialism or have a particular financial issue to discuss, please do get in touch.