Statutory and Management Accounts

Brayan & Spencer Associates is a reputable accounting firm that offers comprehensive services, including statutory and management accounting. Both types of accounting are vital for any business.
Statutory accounting are official financial reports that show how well your company has performed over the past year and its current financial position. These reports include a Profit and Loss statement and a Balance Sheet, along with any important notes or disclosures. At Brayan & Spencer Associates, we make sure these accounts are prepared accurately and on time, so your business stays compliant with all legal requirements. You'll need to send these accounts to all your shareholders, anyone who can attend company meetings, Companies House, and HM Revenue and Customs (HMRC) as part of your Company Tax Return.
Management accounting are financial reports created for business owners and managers to help with internal decision-making. Produced monthly or quarterly, these reports include a Profit & Loss statement and a Balance Sheet. They are similar to year-end accounts but are less formal and customized to meet specific business needs, aiding in planning, controlling, and improving performance.