The Importance of Doing Annual Accounts

Annual accounts hold information about your balance sheet, profit and loss accounts, other accounts involved and the director’s report. These are produced at the end of each financial year and must be acknowledged by shareholders, HM Revenue and Customs and those in managerial roles. If you aren’t sure where to start with your financial reports, then there are annual accounts in Bedford who will be able to help you. Accountants have a skilled and professional mind set meaning that annual accounts are done reliably and efficiently.  


Provide Financial Information

The final reports will provide you with a significant amount of financial data that is imperative to the business. This data will allow you to understand the progressions of the business and highlight where the company is making money, ensuring that they are making more than they spend. It’s essential to know that the company is making more money than it’s spending as this will stop it accidentally slipping into deficit.   


Show Achievements

An annual account will enable you to see how well the business is doing. The report will show figures indicating the success or failure of the business during that year. It will show whether or not you beat last year’s statistics. From knowing this, it will allow you to understand the areas in which you need to improve and will give you the opportunity to try new things for the business. Final accounts in Bedford will show you where you were successful during the previous financial year, giving you the opportunity to improve that.


Strategic Plan

Strategic plans are incredibly useful for businesses. A strategy can be written up that will enable the company to grow and increase their sales. The figures presented from the annual accounts will inspire the production of a strategic plan for the next year. This plan will be based on the figures the business produced last year, and its purpose is to help boost the figures for the next year. As a result, it will spark an interest in finding promotional ways to improve the business’s statistics.

What Services Does an Accountant Typically Provide?

Although the services an accountant provides can vary depending on the package you decide upon, below is an outline of some of the services to look out for. Furthermore, some services can be provided at additional cost. For example, providing references for mortgages and rental agreements or dealing with correspondence from the Companies House or HMRC.


Before you commit to working with a new accountant, make sure you have them explain to you exactly what is included in your particular package. Contact Bedford Accountants for more information on the kinds of services available to you.


  • VAT and VAT Returns

If you are looking for accounting services such as VAT returns in Bedford, Bedford Accountants are able to assist any size of business. Furthermore, our team of professional chartered accountants will take care of all of the responsibilities that accompany the process.

  • Corporation Tax

For companies registered with the Companies House, Corporation tax and the rates you pay are related to your business profit. Bedford Accountants provide expert guidance, so you pay the exact amount of corporation tax in Bedford.

  • Payroll & Register Your Business for PAYE

Should you need to take on new employees, payroll can prove quite difficult to manage on your own. Luckily, Bedford Accountants offer excellent services, including payroll in Bedford and PAYE in Bedford.

  • Bookkeeping

Bookkeeping done correctly can ensure that your business has room to grow. If you are looking for help with bookkeeping in Bedford, our team of accountants can help.

  • Annual Accounts

Annual accounts can be tricky to manage. If you require an accountant to carry out annual accounts in Bedford, look no further than Bedford Accountants.

  • Company Formation

If you need help with the financial side of company formation in Bedford, Bedford Accountants team of experienced and professional accountants are here to help.

  • Personal Tax

Personal tax or income tax as it is otherwise known is dependant on the amount you earn. If you are in need of advice and guidance regarding personal tax in Bedford, contact Bedford Accountants.