Statutory Accounts Production

UK statutory accounts preparation is becoming increasingly complex and onerous. Many of our clients have responded to this by partnering with Neil Ellis Consulting for the preparation of their UK statutory accounts. This has enabled them to avoid changing their finance processes or investing in additional staff or IT resources.

Our statutory accounts process is very simple. Clients give us the trial balance for each company and we manage the accounts production process, including the technical adjustments and reclassifications necessary to comply with the relevant GAAP. The final deliverable from this process is an iXBRL-compliant set of financial statements ready for audit sign-off and filing with HMRC and Companies House.

We make the process as efficient as possible by using the latest software tools and drawing on our extensive technical accounting skills and experience, so that you can rely on us to bear the burden of the technical accounting and disclosure issues relating to the statutory accounts.

Our production service brings clients the following benefits.

Technical Expertise

We have the technical accounting expertise to deal with even the most complex issues and, just as importantly, to identify how important potential issues really are from a materiality point of view. We use our expertise to avoid or simplify issues, anticipating the view your auditors will take, and avoiding the need for unnecessary work. We will handle iXBRL compliance as an integral part of our service.

Communication

We will agree a bespoke communication plan, tailored to your needs, to keep you up to date with progress and facilitate your review. We like to conduct as much work on-site as suits your requirements, as this helps build the personal relationship that is key to our approach. We aim for an optimal balance: keeping you fully informed throughout the process without burdening you with unnecessary detail.

Review and Authorisation

Our service increases the overall effectiveness of your review and authorisation of the accounts, enabling you to "see the wood for the trees". You will be far better placed to answer the key question: do the accounts give a true and fair view?

You will, for example, be far more likely to identify when something is missing from or not disclosed in the accounts, or whether a "substance over form" question has been treated appropriately - precisely the kinds of error that can be the most embarrassing or damaging. The director actually signing the accounts will also have their own personal authorisation report which enables them to see at a glance the key adjustments to profit and net assets that have been made in getting from your in-house figures to the final statutory accounts.

If you would like to find out more about how we can help you with statutory accounts production, please contact us.