{"id":486,"date":"2023-11-20T10:12:55","date_gmt":"2023-11-20T10:12:55","guid":{"rendered":"https:\/\/cmgaccountant.com\/?page_id=486"},"modified":"2023-11-21T16:10:28","modified_gmt":"2023-11-21T16:10:28","slug":"statutory-accounts","status":"publish","type":"page","link":"https:\/\/cmgaccountant.com\/index.php\/statutory-accounts\/","title":{"rendered":"STATUTORY ACCOUNTS"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"486\" class=\"elementor elementor-486\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ba9278d e-flex e-con-boxed e-con e-parent\" data-id=\"ba9278d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-a1c59a2 e-con-full e-flex e-con e-child\" data-id=\"a1c59a2\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dda91de elementor-widget elementor-widget-text-editor\" data-id=\"dda91de\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c63f0db elementor-widget elementor-widget-heading\" data-id=\"c63f0db\" data-element_type=\"widget\" data-widget_type=\"heading.default\"><div class=\"elementor-widget-container\"><h2 class=\"elementor-heading-title elementor-size-default\">Preparing statutory accounts<\/h2><\/div><\/div><div class=\"elementor-element elementor-element-7196ae73 elementor-widget elementor-widget-text-editor\" data-id=\"7196ae73\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><p><strong>CMG ACCOUNTANTS<\/strong> is all about getting you the best possible results, with a team of accountants who have your back and will work tirelessly to ensure every detail has been taken care of. The statutory accounts are necessary for keeping companies in compliance with their regulatory obligations and offer much more. Statutory accounts provide an insight into how well businesses operate, which might help them make decisions on future directions or initiatives as well as protect against fraudulent activity within any business unit.<\/p><p>\u00a0<\/p><p><strong>CMG ACCOUNTANTS<\/strong> take statutory accounts as they come with their requirements under Companies House or HM Revenue &amp; Customs. We have found that in many cases, statutory accounts are effective at providing opportunities for improvement. Our clients are able to find the missing opportunities that are normally overlooked by other businesses and provide better results in their organization while also being compliant with HMRC\u00a0and\u00a0Companies House<a href=\"https:\/\/www.gov.uk\/government\/organisations\/companies-house\" target=\"_blank\" rel=\"nofollow noopener\">.<\/a><\/p><p>\u00a0<\/p><p>The statutory accounts are a gold mine of information. They can be used to plan and identify areas that need cost control while giving you an idea of how your company is performing in terms of profit margins.<\/p><p>\u00a0<\/p><p><strong>CMG ACCOUNTANTS<\/strong> are committed to providing you with professional and compliant accounting services. We use the latest computerized software, so your statutory accounts prepared can be 100% up to date. We will prepare both statutory financial statements and provide bookkeeping\u00a0summaries if needed.<\/p><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7f07332 e-con-full e-flex e-con e-child\" data-id=\"7f07332\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-63db801 elementor-widget elementor-widget-image\" data-id=\"63db801\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"770\" height=\"458\" src=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/satutoryaccount1.jpg\" class=\"attachment-large size-large wp-image-985\" alt=\"\" srcset=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/satutoryaccount1.jpg.webp 770w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/satutoryaccount1-300x178.jpg.webp 300w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/satutoryaccount1-768x457.jpg.webp 768w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c155888 elementor-widget elementor-widget-image\" data-id=\"c155888\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"600\" src=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/DISCOM1-1024x768.jpg\" class=\"attachment-large size-large wp-image-738\" alt=\"\" srcset=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/DISCOM1-1024x768.jpg.webp 1024w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/DISCOM1-300x225.jpg.webp 300w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/DISCOM1-768x576.jpg.webp 768w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/DISCOM1.jpg.webp 1280w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2a49064 e-flex e-con-boxed e-con e-parent\" data-id=\"2a49064\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-8271819 e-con-full e-flex e-con e-child\" data-id=\"8271819\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c85e76e elementor-widget elementor-widget-image\" data-id=\"c85e76e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"770\" height=\"458\" src=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/cgtax3.jpg\" class=\"attachment-large size-large wp-image-941\" alt=\"\" srcset=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/cgtax3.jpg.webp 770w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/cgtax3-300x178.jpg.webp 300w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/cgtax3-768x457.jpg.webp 768w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-45fbd89 elementor-widget elementor-widget-image\" data-id=\"45fbd89\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"458\" src=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/cgtax1.jpg\" class=\"attachment-large size-large wp-image-927\" alt=\"\" srcset=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/cgtax1.jpg.webp 770w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/cgtax1-300x178.jpg.webp 300w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/cgtax1-768x457.jpg.webp 768w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-388a759 e-con-full e-flex e-con e-child\" data-id=\"388a759\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-04a09c7 elementor-widget elementor-widget-text-editor\" data-id=\"04a09c7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b36d4b4 elementor-widget elementor-widget-heading\" data-id=\"b36d4b4\" data-element_type=\"widget\" data-widget_type=\"heading.default\"><div class=\"elementor-widget-container\"><h2 class=\"elementor-heading-title elementor-size-default\">Statutory accounts key facts<\/h2><\/div><\/div><div class=\"elementor-element elementor-element-dfa796e elementor-widget elementor-widget-text-editor\" data-id=\"dfa796e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><ul><li>The statutory accounts for <strong>limited companies<\/strong>\u00a0must be prepared according to law.<\/li><\/ul><ul><li>A short set of statutory accounts (abbreviated accounts) must be submitted to Companies House within nine months following their period-end date.<\/li><\/ul><ul><li>The business owner must file a complete set of statutory accounts with more detailed notes and the attached\u00a0<strong>profit-loss statement<\/strong>. These will be submitted for review by HM Revenue &amp; Customs (HMRC).<\/li><\/ul><\/div><\/div><div class=\"elementor-element elementor-element-a5aaef0 elementor-widget elementor-widget-heading\" data-id=\"a5aaef0\" data-element_type=\"widget\" data-widget_type=\"heading.default\"><div class=\"elementor-widget-container\"><h2 class=\"elementor-heading-title elementor-size-default\">Accurate financial statements<\/h2><\/div><\/div><div class=\"elementor-element elementor-element-911e944 elementor-widget elementor-widget-text-editor\" data-id=\"911e944\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><p>Accurate\u00a0<strong>financial statements<\/strong>\u00a0are crucial for any business, and we can help you understand your financial performance. Our experts will provide actionable insights to take necessary steps towards achieving your long-term goals.<\/p><p>Financial reporting in the UK is not a straightforward task. With new regulations and updates to laws, rules, or guidance \u2013 you need an expert on your side who can help make sure you comply with all relevant standards.<\/p><p>Accurate and compliant statutory accounts are essential to any company. Whether you\u2019re preparing statutory or IFRS reports, complying with UK GAAP (FRS 102) or international rules and regulations can be tricky without the proper skill set- which is why we\u2019ve got everything here.<\/p><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9675748 e-flex e-con-boxed e-con e-parent\" data-id=\"9675748\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-ce70f19 e-con-full e-flex e-con e-child\" data-id=\"ce70f19\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-465e21b elementor-widget elementor-widget-text-editor\" data-id=\"465e21b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>The UK is a diverse and complex market, with several reporting options for financial reports. We can assist you in the following:<\/strong><\/p><p>\u00a0<\/p><ul><li><strong>International Financial Reporting Standards (IFRS)<\/strong>\u2013\u00a0We can help you prepare consolidated financial statements in compliance with IFRS. We have experience drafting these reports for listed companies and non-listing clients alike.<\/li><\/ul><p>\u00a0<\/p><ul><li><strong>Large companies\/businesses \u2013 Financial Reporting Standard (FRS) applicable in the UK<\/strong>\u2013\u00a0FRS stands for Financial Reporting Standard, and their 102 is the primary standard that applies to most large UK entities. Financial statements should comply with FRS 102, and we can help you meet this degree.<\/li><\/ul><p>\u00a0<\/p><ul><li><strong>Small companies\/businesses \u2013 Financial Reporting Standard (FRS) applicable in the UK<\/strong>\u2013\u00a0FRS 102 is a complicated set of rules and requirements, but entities must follow. If you\u2019re not a large company, then most of FRS 102 won\u2019t apply \u2013 Thankfully, though, there are still some disclosure requirements in place so that any information collected can be used properly.<\/li><\/ul><p>\u00a0<\/p><ul><li><strong>Very small companies\/businesses (FRS 105 \u2018The Financial Reporting Standard applicable to the Micro-entities Regime\u2019)\u00a0<\/strong>are the accounting standard for smaller companies. It\u2019s a more manageable and less burdensome than FRS 102, where you must use double entries or other special techniques to report your financials properly.<\/li><\/ul><p>\u00a0<\/p><ul><li><strong>Charitable companies and charities<\/strong><\/li><\/ul><p>we help charitable companies to stay compliant with statutory requirements. This includes filing annual reports, as well as making sure that the charity is adhering to any applicable rules and regulations<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-79b0763 e-con-full e-flex e-con e-child\" data-id=\"79b0763\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0f67dff elementor-widget elementor-widget-image\" data-id=\"0f67dff\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"571\" height=\"353\" src=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/satutoryaccount2.jpg\" class=\"attachment-large size-large wp-image-1004\" alt=\"\" srcset=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/satutoryaccount2.jpg.webp 571w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/satutoryaccount2-300x185.jpg.webp 300w\" sizes=\"(max-width: 571px) 100vw, 571px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-437f67b elementor-widget elementor-widget-image\" data-id=\"437f67b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/inner_1-1024x683.jpg\" class=\"attachment-large size-large wp-image-142\" alt=\"\" srcset=\"https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/inner_1-1024x683.jpg.webp 1024w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/inner_1-300x200.jpg.webp 300w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/inner_1-768x512.jpg.webp 768w, https:\/\/cmgaccountant.com\/wp-content\/uploads\/2023\/11\/inner_1.jpg.webp 1200w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Preparing statutory accounts CMG ACCOUNTANTS is all about getting you the best possible results, with a team of accountants who have your back and will work tirelessly to ensure every detail has been taken care of. The statutory accounts are necessary for keeping companies in compliance with their regulatory obligations and offer much more. Statutory accounts provide an insight into how well businesses operate, which might help them make decisions on future directions or initiatives as well as protect against fraudulent activity within any business unit. \u00a0 CMG ACCOUNTANTS take statutory accounts as they come with their requirements under Companies House or HM Revenue &amp; Customs. We have found that in many cases, statutory accounts are effective at providing opportunities for improvement. Our clients are able to find the missing opportunities that are normally overlooked by other businesses and provide better results in their organization while also being compliant with&hellip;<\/p>\n<p> <a class=\"more-link\" href=\"https:\/\/cmgaccountant.com\/index.php\/statutory-accounts\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-486","page","type-page","status-publish"],"_links":{"self":[{"href":"https:\/\/cmgaccountant.com\/index.php\/wp-json\/wp\/v2\/pages\/486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cmgaccountant.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/cmgaccountant.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/cmgaccountant.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cmgaccountant.com\/index.php\/wp-json\/wp\/v2\/comments?post=486"}],"version-history":[{"count":37,"href":"https:\/\/cmgaccountant.com\/index.php\/wp-json\/wp\/v2\/pages\/486\/revisions"}],"predecessor-version":[{"id":1010,"href":"https:\/\/cmgaccountant.com\/index.php\/wp-json\/wp\/v2\/pages\/486\/revisions\/1010"}],"wp:attachment":[{"href":"https:\/\/cmgaccountant.com\/index.php\/wp-json\/wp\/v2\/media?parent=486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}