Financial Statement Preparation (P&L and Balance Sheet)

What this service covers

Financial statements translate your day-to-day bookkeeping into formal reports you can rely on. You receive:

• A profit and loss account showing income, costs and net profit for the period
• A balance sheet showing assets, liabilities and money owed at the reporting date
• A clear structure aligned to UK year-end accounts and tax requirements
• Sensible categorisation of income and expenses so results are meaningful
• A check for consistency across key areas like bank, debtor and creditor balances

When financial statement preparation is most useful

This service is a fit if you need dependable figures for compliance and planning, for example:

• You run a limited company and need year-end accounts figures you can stand behind
• You are a sole trader or partnership preparing for tax returns and want clean numbers
• You have grown quickly and need clarity on profitability, cash pressure and liabilities
• You are applying for finance or reviewing performance with stakeholders
• You suspect your bookkeeping is “mostly right” but not fully reconciled

How the work is delivered

The starting point is your accounting records for the year or period. Work typically includes reconciling key control accounts, checking postings for completeness, and making adjustments where required (for example, accruals, prepayments or depreciation) so the statements reflect the right period.

You will be asked for any missing information that affects accuracy, such as loan statements, asset purchases, or year-end stock figures (where relevant). Once finalised, the statements are supplied in a format that can be used for year-end accounts and tax work.

What happens after the statements are prepared

You can use the finished profit and loss and balance sheet as the foundation for statutory accounts, corporation tax or self assessment work. If anything looks unusual, you can identify it early and correct it before deadlines.

Many clients also use the reports to set a baseline for the new year, tighten bookkeeping processes, and make better decisions around pricing, costs, and cashflow.