Accounting

Our accounting services

AGA accountants provides professional services in the preparation of year Statutory financial statements.

Limited company accounts

Limited Liability Partnership Accounts

Partnership Accounts

Sole trader accounts

If you are self-employed sole trader, it is important to prepare accounts to ensure you arrive at your correct income figure.

Fixed fees

AGA Accountants offers fixed fee packages for an all inclusive services incorporating the preparation and submission of company accounts.

This fees start as little as £750 for small micro-businesses.

Bookkeeping

AGA Accountants can help you set up cloud bookkeeping solutions to manage your bookkeeping efficiently and quickly. Modern day bookkeeping

XERO and QuickBooks are the leading solutions in this respect.

Being online and secure bookkeeping platforms you can have access to all your key financial reports whenever you need them.

Management accounts

Profit and loss analysis

Bank transactions

Aged Payables reports

Aged receivables reports

With the advent of Making Tax Digital ( MTD), the importance of accurate accounting systems which can capture your financial data efficiently and on a timely basis is far more important. HMRC MTD requirements apply to VAT registered business, but are likely to spread to the quarterly reporting of income tax and corporation tax.

With Making Tax Digital compliance becoming increasingly important , it is vital that you have the correct systems operating to support the accurate and timely processing of your accounting records internally. Good bookkeeping support your business decision making and planning and enable you to derive meaningful financial reporting.

These are often required for businesses for purposes of interim reporting on performance to date. Good quality management accounts aids relevant and timely decision making in running your business.

Management accounts are also used to present to third parties for purpose of presenting financial performance. Third parties can include potential buyers or even banks.

With good bookkeeping systems, the management accounting process becomes more accurate and less time consuming. AGA Accountants can help you set up these systems to enable timely reporting.

AGA Accountants can also prepare management accounts in a suitable format, as long as you are operating good bookkeeping systems. Without good quality internal accounting and bookkeeping processes , management accounting reports  themselves can end up being not very helpful

Management accounts on an interim basis are essential to monitoring and reviewing performance on a regular basis. AGA Partners Accountants can help you set up systems to carry out this process efficiently and on a timely basis.

Cashflow

One of the key issues in business failure or insolvency is poor cashflow forecasting and cash management. Managing cash and cash requirements is vital to ensure the future trading and growth for any business. AGA Accountants can help you formulate cashflow forecasts to help you set targets and analyse future financial position.

Financial Statutory reporting

For Limited companies and LLPS Statutory financial statements must be prepared according to prescribed formats and be filed on time with companies house every year. AGA Accountants can handle this full process accordingly. We prepare and file accounts in a number of different formats suitable for filing with Companies House. Accounts are tagged electronically in IXBRL format for filing purposes for HM Revenue Customs as well.

AGA Partners Accountants will prepare accounts in accordance with the statutory requirements of the Companies Act and Financial Reporting Standards. It is highly important that the accounts are prepared in the correct format and accurately prepared as these accounts go on the public record.

AGA Partner Accountants will advise you on the most suitable format for producing your year end financial statements. We have years of experience in producing compliance and uesful financial statements for all business types.

Cashflow

One of the key issues in business failure or insolvency is poor cashflow forecasting and cash management. Managing cash and cash requirements is vital to ensure the future trading and growth for any business. AGA Accountants can help you formulate cashflow forecasts to help you set targets and analyse future financial position.

Accounting for Rental Property

If you have rental property, it is highly likely and beneficial to you to prepare a tax return. Not doing so can lead to significant penalties from HM Revenue and Customs.

Accountants can analyse your income and expenditure in a manner that allows you to come to an accurate profit figure and also analyse other reliefs avaialble to you.

Whether you’re an owner of rental properties, or managing the property, the whole financial process behind rental properties can be incredibly difficult.

Menacing away beneath the mandatory profit and loss statements, there are a large number of financial transactions demanding your attention; from the incoming rental payments to the outgoing repairs and maintenance costs, they all need to be monitored. And, if you own multiple properties, it gets even more complicated.

You may be familiar with the terms rental property and property manager, but knowing exactly what they do and how they operate is perhaps unchartered territory.

Rental property is where the owner of a property receives payment from the occupants, known as tenants, in return for using the property. Rental properties can either be residential or commercial, and each have separate guidelines and regulations owners need to comply with.

A property manager is a third party who is hired to handle the daily operations of a real estate investment. They can manage all types of properties, from single family homes to large apartment complexes. Responsibilities differentiate depending on their terms of contract, but most managers are liable for finances; being in charge of collecting, setting and adjusting rent, handling deposits, managing the budget, maintaining records and filing taxes. Along with this, property managers need to oversee tenant welfare, dealing with complaints and also rectifying any maintenance and repair issues.

The rental property field is diverse and detailed, and devising equal time to each area can become very stressful. Dealing with accounts requires highly specialised, expert knowledge, and, tax-related laws and loopholes can provide unwanted complications. Therefore, hiring a qualified accountant to organise and implement an efficient accounting system is a logical step to help combat the complexities.

Firstly, hiring an accountant will give you complete peace of mind. Knowing that you have a qualified and competent individual keeping everything in order; all the tax returns will have been dealt with, the cash flow is in order.

Secondly, and perhaps most advantageous, using an Accountant will save you money. When letting or selling a property, tax payments can be a hurdle that reduces your profit considerably.