Year End Statements

Statutory accounts prepared with the rigour boards,
lenders and investors increasingly demand

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Statutory accounts are read with more attention than the filing requirement alone might suggest.

Banks set facility terms from them, investors form views from them, acquirers price businesses from them and shareholders form judgements about stewardship from them.

They are the most public statement a business makes about itself in any given year – and for many businesses, a set of accounts that does not read well or does not hold up to scrutiny, can undermine relationships with lenders and investors at exactly the wrong time.

We prepare year end accounts with the technical rigour, presentational care and timing discipline that a serious set of statutory accounts merits.

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How we deliver year end accounts

It goes without saying that effective year end work begins well before the year ends and is a year-round process.

The earlier we are engaged in the cycle, the more we can do to shape the position rather than simply report on it.

Where we already act on the accounting function or audit, we map the close timetable, identify the judgement areas likely to need attention and have the supporting analysis underway before the period closes.

Where the engagement is new, we run a structured handover designed to surface those same questions in the first few weeks.

Framework applied with care

The reporting framework is confirmed early and applied deliberately, based on the size and structure of the business.

The options we work across include, but aren’t limited to:

  • FRS 102 – the principal framework for medium and larger UK entities
  • FRS 102 Section 1A – the reduced disclosure regime for qualifying small entities
  • FRS 105 – for micro-entities
  • Full IFRS – for listed groups and entities reporting under international standards

Whichever framework applies to you, the technical judgement areas are documented properly, discussed with you so that they are reflected in the disclosures with the precision they require.

Senior review

Drafts are reviewed by a senior reviewer before they reach you, so the version you see is the version we stand behind.

Where the accounts will be read by a third party with particular sensitivities, such as a lender, a potential acquirer or a regulator, we prepare the presentation accordingly, without compromising the underlying position.

What you can expect from our year end team

Three things distinguish how we run a statutory close:

Framework applied with judgement

The reporting standards are applied by people who understand the underlying principles, not just the disclosure checklists. Where there is room to present the position more clearly within the framework, we use it.

Predictable, agreed timing

The close timetable is set early, communicated clearly and held to. Boards and audit committees see the timetable; lenders and investors get the accounts when they were promised.

Accounts that read well

The narrative sections — strategic report, directors’ report, accounting policies — are written to be read, not simply filed. The result is a document that does work for the business in conversations beyond the filing.

Businesses entrust their year-end work to us because the statutory accounts are not, for them, a back-office formality.

They are a document that will be read, scrutinised and used to form decisions – and they want an adviser who understands that weight and guides the process accordingly, from first planning conversation to signed accounts.

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Macalvins have been running the Payroll and Pension Plan for Hayes & Yeading United Football Club for over 10 years.… Read more

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I’ve been with MaCalvins since 2013, they are managing my company business accounts and my personal tax returns in a… Read more

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Why choose Macalvins?

With our team, you get precision, continuity and the kind of considered advice that comes from people who know your numbers as well as you do.

As a Top 100 UK accountancy firm with international reach through PrimeGlobal, Macalvins brings that depth of expertise to every client, at every stage of growth.

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Frequently Asked Questions faq

When should we engage you in the year end process?

The earlier the better. Where we are not already on the accounting or audit work, an introductory conversation two to three months before year end allows us to identify the judgement areas and presentation points worth thinking about in advance. Once the period has closed, we can still run the work efficiently — but the opportunity to shape the position before it locks in has passed.

We are a group with subsidiaries in multiple jurisdictions — can you handle the consolidation?

Yes. Group consolidation, intra-group elimination, foreign currency translation and the presentation of group structures sit within our routine work. Where overseas subsidiaries are audited by other firms, we co-ordinate the component reporting through our PrimeGlobal network or directly with the relevant local firms.

Will you also handle the corporation tax computation?

In most cases, yes. There are real efficiencies in running the accounts and the tax computation in parallel within a single team and the consistency of treatment that comes from doing so reduces both cost and risk. Where you prefer to keep tax separate, we co-ordinate cleanly with the firm holding the tax work.

Mr. Jackson
@mrjackson