Service overview
Sole traders and partnerships do not file accounts at Companies House, but they still need reliable annual accounts. The figures behind the business need to be prepared, checked and summarised so that the profit position is clear and the financial information required for tax reporting is available.
At Accountant Bookkeeping Ltd, we prepare annual accounts for sole traders and partnerships throughout Bournemouth, Dorset, London and across the UK. We work from your bookkeeping records and supporting information to produce a clear set of accounts, with profit and loss information, balance sheet information where applicable and the accounting figures required for relevant tax reporting.
The work usually begins with a review of the bookkeeping and accounting records. Where records are incomplete, out of date or contain transactions that need clarifying, we identify what is required and agree the bookkeeping or accounting work involved before completing the accounts. Year-end accounting adjustments are made where appropriate, including accruals, prepayments, stock, fixed assets and other items that affect the reported figures.
We also identify bookkeeping and accounting issues as we work through the records, such as items that have been recorded incorrectly, costs that may need to be treated differently or information that is missing. Those points are explained in plain English so you can decide how you would like to deal with them.
As an AAT Licensed Accountant, we provide accounts preparation with transparent fixed-fee pricing and no VAT charged on our fees. The fee is confirmed by fixed quotation before any work begins.
Pricing
Our Sole Trader Accounts start from £250 and our Partnership Accounts start from £350. The final fee for either is confirmed by fixed quotation following an initial review of the records, the period involved and the work required, so you know the cost before any work begins. VAT is not charged on our fees because we are not VAT registered.
Who this service is for
- Sole traders who need annual accounts prepared and their profit position confirmed.
- Partnerships whose accounts need to be prepared for the partners and for relevant tax reporting.
- Business owners whose bookkeeping has fallen behind and needs to be reviewed before the accounts are prepared.
- Sole traders and partnerships whose turnover, activity or record-keeping arrangements have changed.
- Business owners who would like the figures explained in plain English rather than simply produced.
- Partnerships where more than one partner needs the same set of figures to report their share of profit.
What we can help with
- Sole trader annual accounts
- Partnership accounts
- Review of bookkeeping and accounting records
- Year-end accounting adjustments where appropriate
- Profit and loss information
- Balance sheet information where applicable
- Accounting figures required for relevant tax reporting
- Identification of bookkeeping and accounting issues
How it works
Initial discussion
We discuss the business, how it is structured, the accounting period involved and the records you have available.
Records review
We review the bookkeeping and accounting records, bank information, sales and expense records and any other relevant financial documents.
Adjustments and accounts
We make the year-end accounting adjustments that are appropriate and prepare the accounts, including profit and loss information and balance sheet information where applicable.
Explanation and next steps
We explain the figures and the accounting position, and confirm the accounting information available for relevant tax reporting, with a fixed quotation for any agreed further work.
Information we may need
- Bookkeeping records or access to your accounting software.
- Business bank statements and records of business income and expenditure.
- Sales and expense records, including invoices, receipts and supplier statements.
- Asset information, including purchases, disposals and hire purchase or finance agreements.
- Stock and work-in-progress information where relevant to the business.
- Details of amounts owed to and by the business at the period end.
- Partnership agreement or profit-sharing arrangements where the business is a partnership.
- Relevant correspondence from HMRC and details of any outstanding tax matters.
Frequently asked questions
Related services
Scope
Accounts preparation is not an audit or an assurance engagement. Accountant Bookkeeping Ltd provides accounts preparation and related accounting support within our professional scope, based on the records and information provided, and does not provide statutory audit services.
Get a free quote for sole trader & partnership accounts
Tell us what you need and we'll come back with a clear, fixed fee — no VAT, no obligation.