Limited Company Accounts Package Produces Final Accounts for publication

DIY accounting and payroll software limited company formation UK

LIMITED COMPANY PUBLISHED FINANCIAL ACCOUNTS

The end product produced by the DIY Accounting company accounts package is not simply a set of financial accounts to be sent to the accountant but a full set of limited company accounts ready for publication and submission to Companies House and the Inland Revenue.

A fully automated set of limited company accounts is produced from the basic sales income and purchase expenses entered in the spreadsheets. The final accounts shown below as an example is an abbreviated copy of the final profit and loss account, balance sheet and notes to the accounts which include the statutory Companies Act statements required when submitting the published financial accounts to Companies House .

Accounting knowledge is not required to produce the company accounts as the formulae and linking structure within the excel spreadsheets have automated the accounting function including the double entry bookkeeping that is used to prepare the accounts. The client work stops at the point where sales and expenses are input into the spreadsheets from where the accounting software automatically produces a trial balance and then goes the extra step by using those figures to produce the annual profit and loss account and balance sheet.

		Profit and Loss Account
	for the year ended 31st January 2009
31 January 2008			31 January 2009
£	£		£	£
	0	Sales Turnover		0
	0	Investment Grants received		0
	0	Sales Turnover		0

		Cost of Sales
0		Stock at 1 January 2006	0
0		Purchases	0
0	0	Less Stock at 31 December 2006	0	0
	0	Sub contractors		0
	0	Cost of Sales		0

	0	Gross Profit		0

		Administrative Expenses
0		Wages and Salaries	0
0		Directors Wages	0
0		National Insurance	0
0		Premises Rent & Rates	0
0		Premises Light & Heating	0
0		Distribution Transport Costs	0
0		Equipment Tools & Plant Hire	0
0		Repairs & Maintenance	0
0		Consumable Materials	0
0		Advertising & Promotion	0
0		Telephone Postage & Stationery	0
0		Travel & Hotel Expenses	0
0		Motor Vehicle Expenses	0
0		Insurance Costs	0
0		Leasing Charges	0
0		Legal & Professional Fees	0
0		Bad Debts written off	0
0		Bank Interest Paid	0
0		Bank Charges	0
0		Charitable Donations	0
0		Goodwill written off	0
0		Loss on disposal of assets	0
0		Depreciation	0
	0	Administrative Expenses		0

	0	Operating Profit		0

	0	Other Income		0
	0	Profit (Loss) before Tax		0
	0	Corporation tax		0
	0	Profit (Loss) after Tax		0
	0	Dividends		0

£	0	Retained Profit (Loss) for the year	£	0

Production of the balance sheet is undoubtedly a technical accounting function which has been fully automated to produce not just the list of fixed and current assets and liabilities, debtor and creditor balances but is automatically balanced too as the bookkeeping financial transactions are only required to be entered once in the data entry spreadsheets and the accounting software uses each of the financial transactions twice to complete the accounting entries.

		Balance Sheet
		as at 31st January 2009
31 January 2008			31 January 2009
£	£		£	£

	0	Fixed Assets		0
		Tangible assets (note 1)