Forum

• # 70514
• Mon 02 May 2011 02:41 PM

I have just taken on a Client who is a Director of a small Ltd Company. I am at level AICB (comp)PM.Dip. at what level could I submit Year end Reports and Financial Statements

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• # 70515
• Mon 02 May 2011 03:24 PM

Hi John,


As an AICB, you can produce  trial balance for a limited company. You are not qualified to produce final accounts for limited company.

Feel free to browse further through previous threads and will have a confirmation from, i believe from one of the fellow members.

Have a great weekend,

Nathaliexxx

• Provide bookkeeping and virtual accountancy assistance service in English and French @nckaccountancy.
  West Essex Twitter:http://nckaccountancy.co.uk
  E-mail: info@nckaccountancy.co.uk
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• # 70516
• Mon 02 May 2011 03:30 PM

Just would like to add, MICB are qualified to produce final accounts to be submitted to the accountant.

I believe, according to the law, the accountant is assigned to certify accounts for submission to company house.

Sorry if this is not the response you were expecting.

Nathaliexxx

• Provide bookkeeping and virtual accountancy assistance service in English and French @nckaccountancy.
  West Essex Twitter:http://nckaccountancy.co.uk
  E-mail: info@nckaccountancy.co.uk
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• # 70517
• Mon 02 May 2011 04:15 PM

Hi John

In order to prepare draft accounts for a limited company you need to be Member, having passed either Level III computerised or manual. In order to prepare final accounts for a small limited company ( ie  turnover < 5.6m, employees < 50 ...), which includes a corporation tax return you will need to have passed all the new Level IV exams. Otherwise it's best pass the draft accounts on to an accountant.

These are unaudited accounts and are in fact signed off by the directors of the company, not the accountant or bookkeeper that prepares them.

cheers

Mike

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• # 70519
• Mon 02 May 2011 04:53 PM

Thanks for Replies I will have to find Accountant.

Regards John

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• # 70526
• Tue 03 May 2011 08:21 AM

Hi Mikeee

Just an FYI a set of unaudited accountants can contain an accountants report which needs to be signed by a qualifed accountant.

Cheers
Stuart

• Forum Moderator, South East & Greater London Regional Chairman
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• # 70532
• Tue 03 May 2011 03:54 PM

Thanks Stuart

I have seen an Accountants report in unaudited accountants. It was labelled 'Accountants report to the board of directors ... ' Granted you would have to be an accountant to comlete such a report, does this form part of final accounts submitted to CH?

What will the situation be with the new Level IV qualification, will there be the need for a Certified Bookkeepers report?

Looking at the Accountants report it is a series of statements on what professional requirements the accountant has adhered to and that because the accounts are unaudited it is the responsibility of the directors to verify the accuracy of the financial statements.

Cheers
Mike

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• # 70539
• Tue 03 May 2011 07:47 PM

Hi Stuart / Mikee 

I appreciate that their can be an Accountants Report to the Directors.  This is optional

 It is it is not a statutory requirement for small business unaudited Abbreviated accounts.  For an annual turnover of no more the £6.5 million . Balance Sheet Total to be no more than £3.26 million.  Average number of employees must be no more than 50.

It is in the Directors Report and Directors Statement that are statutory .  The Directors' statements required by Sections 475(2) and (3) are stating

In approving these Financial Statements as directors of the company we hereby confirm:

a) For the year stated above the company was entitled to the exemption conferred by Section 477 of the Companies Act 2006:

b) that no notice has been deposited at the registered office of the company persuant to Section 476
 requesting that a audit be conducted for the year ended ------------ .

I have only provided this info so members are aware of the Companies House requirement.  Please note .  It is not part of the discussion as to want members are allowed to provide. 

Edited at 03 May 2011 07:55 PM GMT

• Sarah Douglas C.FICB

  HouseTree Business Ltd 

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