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ACCOUNTS & AUDITS

Every business has a requirement to maintain their books and records to enable them to comply with all the regulations governing taxation and limited companies. We feel that these records should be of direct benefit to the management giving them useful assistance in the running of the business.

Annual accounts are a fact of business life but prepared on a timely basis and co-ordinated with the management figures they should be a confirmation of the business's progress. Good budgets and forecasts will assist management and actual up to date figures are a bonus which cannot be under-rated.

Limited company accounts have to be formatted in a particular way due to the regulations governing them and it is sometimes necessary to unscramble the format to enable the basic details to be clear - this can be done with management accounts accompanying the formal accounts.

Pennington Williams are registered auditors and are thus equipped to not only assist in the preparation of accounts but also to formally audit them as well if required either by the regulations or by lenders or the shareholders. It is recognised that the audit should add value to the annual process, not be a sterile activity alongside it - clear reporting to management, as well as to interested third parties should result.

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Annual Accounts

Our Services will include:

  1. Preparation of Annual Accounts fully compliant with all regulations and laws.
  2. In the case of limited companies the accounts will be prepared under Companies Acts regulations and the relevant accounting standards.
  3. Detailed discussions with the management will take place both prior to and after the process explaining what will and has been done together with our professional views as to the interpretation of the results obtained.
  4. Advice as to the effects of provisions and after-date changes to the figures together with the tax effects of such changes.
  5. Telephone availability of our accounts and taxation departments together with Directors to deal with queries throughout the year.
  6. Provision of firm quotes of our fees to be agreed in advance of the services being provided

Audits

Our Services will include:

  1. The full audit of Limited Company's annual accounts under the governing auditing standards and regulations.
  2. Detailed discussions with the directors both before and after the audit process to ensure that all parties are clear what will be undertaken and are satisfied that the conclusions arising from the audit are understood.
  3. Our management letters, prepared after the audit is complete, having been discussed with management, will summarise the results of the audit and make improvements suggestions where applicable.
  4. Certification as registered auditors where required for various other purposes (i.e. solicitors/ estate agents/ grants).
  1. Certainty that where possible our audit work will be positively utilised to add value to the organisation and the process being undertaken.
  2. Telephone availability of our accounts and taxation departments together with Directors to deal with queries throughout the year.
  3. Provision of firm quotes of our fees to be agreed in advance of the services being provided

Forecasts and Budgets

Our Services can include:

  1. Assistance in deciding the reasons that forecasts and budgets are being prepared.
  2. Help in the setting of the parameters of the forecasts together with the assumptions that will be included.
  3. Actual preparation of the forecasts and budgets together with preparation of the introduction and conclusions to be drawn from the figures.
  4. Attendance and assistance at presentation meetings of the figures both internally and to interested third parties.
  5. Updating on a regular basis the forecasts with the actual results including altering the future figures to accommodate the actuals.
  6. Provision of firm quotes of our fees to be agreed in advance of the services being provided