At Parsons, we offer a full statutory accounts service, taking a practical and straight-forward approach to year-end-accounts. You’ll have peace of mind your annual accounts are completed on time and meet all the current standards and practices.
BIGGER PICTURE
What are statutory accounts?
At Parsons, we ensure your accounts are accurate, compliant and give a rounded insight into your business – year after year.
Statutory accounts are financial statement prepared in accordance with UK accounting standards and company law. They’re a formal record of the company’s financial performance over the year and its position at the year-end date and are submitted to Companied House and HMRC.
Your statutory accounts are not just for compliance. They’re a chance to step back and reflect on the year – how the business has performed and look at what opportunities there are for the year ahead.
The accounts present a clear and consistent picture of your company and include:
A profit and loss statement
A breakdown of income, cost and expenses, showing the breakdown of the business’s trading performance across the year.
Balance sheet
A snapshot of your company’s financial position, summarising assets, liabilities and shareholders’ equity.
Supporting explanation notes
More information to support the figures, explain accounting policies and provide transparency.
Why are they needed?
COMMUNICATE WITH THIRD PARTIES
There’s a legal requirement for all limited companies to submit financial statements to Companies House.
PROVIDE SUPPORT
Support the preparation of the corporation tax return.
CLEAR OVERSIGHT
Provides shareholders and directors with a reliable view of the company’s performance.
MEET DEADLINES
Supports planning, investment decisions, and lender negotiations.
SPECIALIST GUIDANCE
Accurate. Compliant. Prepared With Care.
Every business is different, and your statutory accounts should reflect that. Our team take time to understand how your business operates and what matters to you.
At Parsons, we go beyond compliance requirements, taking time to highlight opportunities for tax efficiencies and financial improvements that will support you to meet your financial goals.
After a taking an independent look at your financial statements, internal controls and compliance processes we’ll give you a clear picture of how your business is looking, help you stay ahead of regulatory requirements and achieve your wider business goals.
We want you to fully understand what your finances say, which is why we’ll simplify technical accounting issues and explain them in a clear and understandable way. You’ll have dedicated experts on hand, whenever and in whatever way (in person, on the phone or via email) that suits you to answer questions you may have about your accounts.
“We have engaged Parsons as statutory auditor and are thrilled with their knowledge and professionalism. They have taken time to understand our business and us as individuals and have audited in a way which does not feel onerous and allows us to continue business as usual.”
Victoria McLeod
Director at Royle Recruitment
“I’ve worked with Ian and his team at Parsons for several years. They were instrumental in helping me to negotiate the successful sale of my first business and they continue to give me reliable advice and accountancy for my current business, Prosura.”
Jon Newall
CEO, Prosura Ltd
“York Medical Group have trusted Parsons as our finance and commercial partner for over six years. When the practice scaled up and merged several practices into one and became a Primary Care Network in its own right, we need fit-for-purpose financial systems. We outsourced our Financial Controller, Finance Administrator and strategic financial advice to Parsons…
Zulf Ali
CEO York Medical Group
“We outsourced our finance function because it gave us the flexibility and breadth of financial expertise we needed in the face of very rapid growth. The COVID pandemic saw our contractual income grow from a £2m to a £6.3m within a very short period of time. Our finance needs have changed along the journey and…
Maddy Ruff
CEO at Nimbuscare Ltd
“There was a lot of documentation and complex processes involved with the disposal of the business. I needed the advice of someone who understood what was required to ensure everything was done correctly and with my best interests at heart. Parsons certainly fulfilled that need. We has a very smooth deal which was comparatively swift…
Barry Vale
former owner at Ridings Reprographics
“Parsons have been with us since our first audit in 2023, supporting us as a privately owned SME in the flooring sector through an important milestone for the business. Their approachable, supportive manner made the process feel straightforward and reassuring, and we genuinely enjoy working with a team who are always on hand throughout the…
Helen De La Rue
UK Trade Furnishings Limited
“The team at Parsons York is our first port of call when we need expertise to support key strategic decisions. We know we can rely on Rebecca and Mark to answer a call and provide immediate and sound advice when we need it. Parsons provide high-level strategic insight that complements our in-house finance team and…
Jordan Cook
Managing Director at PolyGlobal Ltd
“The team at Parsons understand my business very well, they truly care about the job they do and the clients they look after. Parsons looks after my tax affairs – previously for the business and my personal tax affairs now that I’ve retired. Having that long-term relationship has been beneficial because there is an existing…
Allan Binns
Former Managing Director at Incom Systems Communication Specialists Ltd
“Parsons have been managing my annual Self Assessment tax return for several years and they are so easy to deal with, I’ve even recommended them to other people. I like working with a local business and it’s important to me that my accountant is established and professional. There’s always someone there to answer any queries…
Nick Stokes
Business Owner at Stokes Creations
“The service from Parsons is very professional and efficient. I can always get hold of an accountant when I need them, they have reliable expertise and a very good understanding of my accounts. I know I can trust them to advise me on everything I need to know and any actions I need to take.…
Statutory accounts are financial statements prepared in accordance with UK accounting standards and law. They’re a formal record of the company’s financial performance over the year.
Why are statutory accounts needed?
There’s a legal requirement for all limited companies to submit financial statements to Companies House. They also provide shareholders and directors with a reliable view of the company’s performance and support the preparation of corporation tax return. Statutory accounts are also a good chance to look back and reflect on how the business has performed for the year.
