ANH Partners can support your business with statutory accounts. Statutory accounts are legally required financial statements that companies must prepare and submit to regulatory authorities to provide a concise and accurate overview of their financial performance and position.

1. Balance Sheet: A snapshot of the company’s assets, liabilities, and shareholders’ equity at a specific point in time.

2. Profit and Loss Statement (Income Statement): A summary of the company’s revenue, expenses, and net profit or loss over a specific period.

3. Cash Flow Statement: An overview of the company’s cash inflows and outflows during a specific period, categorized into operating activities, investing activities, and financing activities.

4. Notes to the Financial Statements: Supplementary information providing further details and explanations about the items included in the financial statements.

5. Director’s Report: A report written by the company’s directors, providing additional information about the company’s activities, performance, and prospects.

6. Auditor’s Report: A report prepared by an independent auditor, expressing their opinion on the accuracy and fairness of the financial statements.

These components together provide a comprehensive view of a company’s financial position, performance, and compliance with applicable accounting standards and regulations.

Consolidated accounts refer to financial statements that present the combined financial results and position of a group of companies as if they were a single entity. These accounts consolidate the individual financial statements of subsidiary companies into the financial statements of the parent company, providing a holistic view of the group’s financial performance and position.

Consolidated accounts typically include the following elements:

1. Consolidated Balance Sheet: A combined statement that presents the assets, liabilities, and shareholders’ equity of the parent company and its subsidiaries as a single entity.

2. Consolidated Profit and Loss Statement (Income Statement): A summary of the combined revenue, expenses, and net profit or loss of the parent company and its subsidiaries.

3. Consolidated Cash Flow Statement: An overview of the combined cash inflows and outflows of the parent company and its subsidiaries, reflecting the group’s overall cash position and liquidity.

4. Notes to the Consolidated Financial Statements: Supplementary information providing additional details and explanations about the items included in the consolidated financial statements.

5. Consolidated Director’s Report: A report written by the directors of the parent company, discussing the group’s activities, performance, and future prospects.

6. Consolidated Auditor’s Report: A report prepared by an independent auditor, expressing their opinion on the fairness and accuracy of the consolidated financial statements.

Consolidated accounts consolidate the financial information of the parent company and its subsidiaries to provide a comprehensive view of the group’s financial performance, position, and cash flows. This allows stakeholders to assess the overall health and performance of the group as a whole.

Management accounts refer to financial statements and reports prepared specifically for internal use by management within an organization. These accounts provide timely and relevant information to support decision-making, planning, and monitoring of the company’s operations, performance, and financial position. Management accounts typically include key financial indicators, budget comparisons, variance analysis, and other customized reports tailored to the specific needs of management.

Management accounts can vary depending on the specific needs and preferences of an organization. However, the following components are typically included:

1. Income Statement: A summary of revenues, costs, and expenses, showing the organization’s profitability over a specific period.

2. Balance Sheet: A snapshot of the organization’s assets, liabilities, and shareholders’ equity at a specific point in time, providing insights into its financial position.

3. Cash Flow Statement: An overview of cash inflows and outflows, highlighting the organization’s cash position and liquidity.

4. Key Performance Indicators (KPIs): Metrics and ratios relevant to the organization’s objectives, such as sales growth, profit margins, customer acquisition costs, and inventory turnover.

5. Budgets and Forecasts: Comparison of actual financial results against planned budgets and forecasts, enabling analysis of performance and identification of variances.

6. Variance Analysis: Examination of the differences between actual results and budgeted figures, helping to identify areas of concern or opportunities for improvement.

7. Management Commentary: Narrative explanations and interpretations of the financial information, providing context and insights into the organization’s performance and financial trends.

These components, along with any additional customized reports or analysis, provide management with the necessary financial information and insights to make informed decisions, monitor performance, and drive the organization’s success.

Have specific questions or need immediate assistance? Reach out to our team for prompt and reliable support. We are here to address your accounting and tax-related concerns, provide guidance, and help you achieve financial peace of mind.