We can prepare your annual accounts if you are a self employed freelancer, partnership or limited company. We will also submit your accounts to Companies House if required.
At Theataccounts, we specialise in preparing clear, compliant, and professional annual accounts for freelancers, partnerships, and limited companies, with a special focus on the entertainment industry. Whether you're a self-employed artist, a growing production company, or a creative partnership, our expert accountants are here to help you navigate financial reporting with confidence.
From creating your annual accounts report to filing with Companies House, we provide a reliable and personal service that gives you peace of mind, so you can focus on your craft while we handle the numbers.
Annual accounts, also known as financial statements, are essential documents that show your business’s financial performance over a 12-month period. These reports typically include a profit and loss statement, balance sheet, and other supporting financial disclosures.
For limited companies and LLPs in the UK, filing annual accounts with Companies House is a legal requirement. For sole traders and partnerships, it may not be mandatory but it’s still highly beneficial. Your annual accounts give you insights into your income, expenses, assets, and liabilities, helping you make informed financial decisions year after year.
Theataccounts provides these reports with precision and clarity, ensuring you remain compliant and aware of your financial standing at all times.
A typical annual accounts report prepared by Theataccounts includes:
Whether you’re asking "what is a profit and loss at statement?" or wondering how to use it to guide your next business move, we make these complex financial concepts simple to understand. Our accountants will walk you through each section of your report and answer any questions you may have.
The profit and loss statement also called the P&L account, is one of the most crucial parts of your annual accounts. It provides a summary of your business’s income, subtracts your expenses, and shows whether you’ve made a profit or a loss.
If your revenue exceeds your costs, you’ve made a profit. If your expenses are higher, you’ve made a loss. This simple, yet powerful document gives you a clear view of your operational success and helps you plan more effectively for the future.
For those unfamiliar with the terminology, we’re happy to clarify what a profit and loss at statement is and how it differs from other financial reports. We make sure you not only have the right data, but also the knowledge to use it wisely.
Whether or not you're legally required to file accounts, having a profit and loss account is essential for understanding how your business is performing. It helps identify what’s working, where costs can be cut, and how to improve profitability.
A well-prepared P&L account:
For creative professionals and entertainment industry businesses, these insights can be game-changing. We help you keep a finger on the financial pulse of your business, so you're never left guessing.
Even if you’re not required to submit accounts to Companies House, having well-prepared annual accounts can still be a huge asset. For freelancers and partnerships, these reports offer:
At Theataccounts, we tailor our services for self-employed professionals who want to operate with the same financial confidence as larger businesses.
Unlike traditional accountancy firms, Theataccounts is built for creatives. We understand the unique challenges of managing finances in the entertainment sector, from fluctuating incomes to project-based earnings.
We proudly serve actors, musicians, production companies, agents, and creative freelancers across the UK. With us, you're not just another client, you're a partner whose art deserves financial clarity and support.
Let us help you keep your business finances sharp, compliant, and future-ready. Book your free consultation today to get started with a no-pressure chat about your accounting needs.
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Our FAQ Section aims to provide you with clear and comprehensive answers that help you navigate through any uncertainties you may have.
If you have any questions, please do not hesitate to contact our accountants.
A Profit and Loss (P&L) statement shows your business’s income and expenses over a specific period to calculate profit or loss. We provide tailored P&L reports to help you track your business performance.
It’s another term for a Profit and Loss statement, which we regularly prepare for our clients at theataccounts to ensure financial clarity.
It refers to the financial result of a business’s operations:
Profit: When revenue exceeds expenses.
Loss: When expenses exceed revenue.
A stakeholder is anyone with an interest in a business, including employees, customers, suppliers, investors, and government bodies.
A stakeholder in business is any individual or group affected by or affecting the company's operations, strategies, or financial success.
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