Accounting and audit

Added Support for your business beyond compliance:

At McCranors we'll work with you to lessen the burden of statutory accounting requirements.

If you run any business, you're legally required to:

• Keep certain records; for example, payroll documents if you have employees and VAT records if you are VAT registered. This will involve regular record keeping.
• Submit an annual tax return to HM Revenue & Customs. This will involve the preparation of annual accounts.
• Certain businesses and organisations require an audit of their annual accounts, although there are exemptions for smaller companies. We can advise whether or not an audit is required.
• If you are a limited company you are required to file accounts at Companies House.

Trust our independent experts to remove the pain of compliance

At McCranors we work with businesses ranging from business start-ups to larger enterprises with multi-million pound turnover. We can prepare accounts and perform audits for all types of business including sole traders, partnerships, and limited liability companies, and in any sector of the economy.

For smaller businesses, the burden of accounts can be daunting and distracting.  

For larger organisations, there is a need for independent accountancy experts who can work with them in partnership in order to efficiently manage their complex financial requirements.

There is of course an important compliance element to accounts production for tax purposes, and we will ensure that you are approaching your accounts in the most appropriate manner.

At McCranors our services range from preparing the basic accounts for clients through to providing support and assistance in many other areas of running a business.

From the outset we will discuss with you the optimal business structure, and also the financial controls that you need to have in place so that you can concentrate on doing what you do best -  running the business.

You can rely on McCranors to help you comply with your statutory accounting obligations and to add value to your business through the accounting process.

Beyond Accounts

In addition to the above, the McCranors team are commercially-minded  and experienced business advisers who can provide high-level support in order to help you make critical business decisions and to grow your business successfully.

Financial Understanding

It is imperative that you as a business owner have a clear and ongoing understanding of your financial position.

We can work with you to produce tailored management accounts and reports that ensure you have access to the information you need, when you need it.

From cash-flow analysis and forecasts, through to more detailed management accounts, we'll work with you to ensure that you have all the accounting information and key performance indicators at your fingertips to help you drive your business forward.

Audit

As a broad guide, you are likely to need an audit for accounting periods beginning after 6 April 2008 if the company has a turnover of more than £6.5million and your assets total more than £3.26 million. Certain other organisations such as Charities have different criteria, and some companies who do not exceed the above thresholds may still need an audit. Where an audit is required there is a legal requirement for a report on the accounts by an independent registered auditor, such as McCranors, who is registered with the Institute of Chartered Accountants in England and Wales or other regulatory body.

The McCranors team has extensive experience of external audit. We conduct audits with professionalism and sensitivity.

Working with you as a trusted business partner we gain a very detailed understanding of your business as part of the Audit process.

We use this understanding not only for compliance purposes, but also to share ideas which add value throughout the audit cycle.

Additional benefits of a McCranors Audit include:

• You receive an independent assessment of your financial position
• We advise you on appropriate remedial action whenever the audit process reveals potential areas of weakness in your business.  
• You have a professionally documented basis for future finance applications or reports.
• You have peace of mind in knowing your financial accounts are checked for compliance with statutory disclosure requirements.
• The overall image and reputation of your business is greatly enhanced by being able to present a professionally prepared set of accounts

And as ever we pride ourselves on our approachability and the personal service we offer.

That's why they say, "McCranors: Accountants you can talk to."