Annual Accounts

Annual accounts preparation from Lambert Chapman LLP. Accurate accounts, meaningful insights

Whether you’re a sole trader, partnership, LLP or limited company, annual accounts aren’t simply a compliance task; they’re a strategic tool. At Lambert Chapman, we prepare, review, and optimise your annual accounts so you can meet statutory requirements and use the financial data to drive business improvement.

What we do:

• Tailored accounts preparation
  We’ll prepare your accounts in the right format for your business structure, liaising closely with your team to ensure the numbers reflect both compliance and commercial reality.

• Robust review and advisory
  Our team looks beyond the figures. We’ll review your accounting records, spot weaknesses or inefficiencies, and offer practical improvements, helping you strengthen internal controls, cash flow and financial performance.

• Fit-for-purpose reporting

1. Sole traders & partnerships – income and expenditure accounts or self-employment summaries, depending on turnover and complexity
2. Growing businesses – balance sheets, profit & loss accounts, notes to the accounts
3. LLPs –  compliant with the Statement of Recommended Practice for LLPs
4. Limited companies – Accounts consistent with the Companies Act, with exemptions applied where relevant (e.g. smaller company disclosure relief, abbreviated accounts)
5. Dormant companies – need only prepare dormant accounts. They don’t have to submit accounts to HMRC or prepare a tax return when they are not trading for the entirety of their financial year

• Efficiency-minded approach
  We help you keep disclosure as light as possible and capitalise on exemptions where available, for example, by preparing abbreviated accounts to limit the visibility of sensitive financial data at Companies House.

We have included some frequently asked questions at the bottom of the page.

Why choose Lambert Chapman for your annual accounts preparation?

Chartered accountants experience
Years of experience across business types mean we get the right balance of compliance and commercial insight.

Partner-led relationship
Your accounts won’t be delegated to someone else – we work closely with you at partner level to understand your business and discuss financial strategy, not just “tick the boxes.”

Actionable insight, not just numbers
We review your bookkeeping and accounting process, flag risks and opportunities, and provide advice to improve profitability, efficiency, and financial control.

Practicality and pragmatism
We’re not in the business of overburdening you with jargon or needless disclosures. Our goal is to help you meet regulatory obligations while keeping things as streamlined and useful as possible.

➡️ Ready to improve your annual accounts?

Contact us today for a tailored quote and find out how we can turn your statutory annual accounts into a powerful business tool.

Annual Accounts FAQs for businesses:

1. What are annual accounts and why are they important?

Annual accounts are a formal record of your business’s financial activity over 12 months. They ensure you comply with HMRC and Companies House requirements, while also giving you insight into profitability, cash flow and financial health.

2. Who needs to prepare annual accounts?

All limited companies, LLPs, partnerships and sole traders above a certain turnover threshold must prepare accounts. Even if you’re a small business or freelancer, annual accounts can be valuable for tracking performance and planning growth.

3. What information is included in annual accounts?

Annual accounts typically include a balance sheet, profit and loss account, notes to the accounts, and (for companies) a director’s report. The exact format depends on your business structure and size.

4. Can small companies file simplified accounts?

Yes. Many small companies can take advantage of exemptions, such as filing abridged or filleted accounts, to reduce the amount of information made public at Companies House. We’ll advise you on the best option for your business.

5. How long do I have to file annual accounts?

Limited companies usually have nine months after their financial year-end (or accounting reference date) to file with Companies House. For sole traders and partnerships, accounts support the annual Self Assessment tax return, due 31 January.

6. What happens if I miss the deadline?

Late filing can result in fines and, in the case of companies, potential strike-off action. We’ll ensure your accounts are prepared in good time and deadlines are never missed.

7. How can annual accounts benefit my business beyond compliance?

Annual accounts are more than a regulatory requirement – they help you analyse margins, spot inefficiencies, manage tax exposure, and make informed decisions for growth.

8. Why use Lambert Chapman for annual accounts?

We don’t just prepare the numbers. Our partner-led approach ensures compliance, minimises disclosure, and provides practical advice to strengthen financial performance.

9. Do you only provide accounts preparation services in Essex?

No. Thanks to secure cloud technology, online bookkeeping platforms and video conferencing, we work seamlessly with clients across the UK and even overseas. Using tools like Xero, QuickBooks and secure document-sharing portals, we can prepare and review your annual accounts remotely without compromising quality or confidentiality. Wherever you are based, you’ll receive the same partner-led advice and personal service as our local clients.

Our Terms of Business relating to Annual Accounts.