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 entrepreneurial businesses 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.
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 them 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.
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