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You have told us that the company is exempt from an audit of the accounts.
You will notify us if any shareholder of the company has notified the company that they require an audit.
You will also check and confirm that the conditions have been satisfied to ensure that the company does not require an audit.
As directors, you have a duty to prepare accounts that comply with the Companies Act 2006 and any accounting standards that apply.
Unless we have also agreed to carry out a bookkeeping service you will carry out all the day-to-day accounting work. This will include:
You agree to make your accounting records and related financial information available to us in line with the request we will make on or around your year-end date. You recognise that a failure to do so could have an impact on the price or the speed of our work.
Even if we have not directly requested it, you agree to disclose to us in full any information that is relevant to the accounts and may have a bearing on the financial position of the company. You also agree to make available to us minutes of management, directors and shareholders meetings.
Company accounts need to be completed and filed with Companies House within certain deadlines set out in the Companies Act 2006. Failure to submit on time will result in penalties. We will therefore plan our work so as to ensure sufficient time is allowed to meet the submission deadlines. However if you fail to provide your accounting records in line with our request as noted above or do not promptly answer any queries that we raise, you understand that we will not be responsible for any late filing penalties charged for a late submission.
You have a duty, as directors, to prepare statutory accounts which show a true and fair view of the company’s results for the period. In summary, your accounts must not be misleading and you should make any adjustments or disclosures which we advise.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than you for our work or for the report. If you wish, or are asked, to provide a copy of the accounts to a third party you must seek our consent before you do this. You are not entitled to disclose our work to a third party without our express written permission. We may grant consent subject to certain conditions which you must comply with. In every situation where we do grant consent you agree to ensure that the report remains attached to the accounts shown to the third party.
You will approve and sign the accounts electronically via our portal thereby acknowledging responsibility for them and confirming to us that you have reviewed them, approved them and provide authorisation to submit to Companies House and HM Revenue and Customs.
If financial information is published, which includes a report by us or is otherwise connected to us, on the company’s website or by other electronic means, you must:
You must set up controls to prevent or quickly detect any changes to electronically published information. We are not responsible for reviewing these controls nor for keeping the information under review after it is first published. You are responsible for the maintenance and integrity of published information, and we accept no responsibility for changes made to any information after it is first posted.
We have no responsibility to report whether any shareholder of the company has notified the company that they require an audit. Therefore we have no responsibility to do any work in respect of this.
We will not check whether the company is exempt from audit. However if our work indicates that the company is not entitled to an exemption from audit we will inform you. If this happens we will discuss with you the need to appoint auditors.
We shall plan our work on the basis that no report is required on the accounts from us by statute or regulation, unless you inform us in writing to the contrary. In carrying out our work we will make enquiries of you and undertake any procedures we judge appropriate, but we are under no obligation to perform procedures such as would be required for an audit or other type of assurance engagement.
Our work will not be an audit of the accounts in accordance with International Standards of Auditing (UK and Ireland). This means that our work will not provide any assurance that the accounting records or the accounts are free from material misstatement, whether caused by fraud or other irregularities or error. It also means that we are unable to provide any assurance as to whether the accounts present a true and fair view.
We have a professional duty to prepare accounts that conform to generally accepted accounting principles. We will prepare the accounts so as to meet the requirements of the Companies Act 2006 and related accounting standards which apply. The accounts we prepare for filing purposes will, unless you instruct us otherwise, be prepared on the basis of taking all available filing exemptions and so may not be identical to the accounts prepared for members.
You have asked us to assist you in preparing accounts in accordance with the requirements of the Companies Act 2006. We have agreed to prepare the year-end accounts for your approval based on the accounting records you maintain. We will also rely on any information and explanations you give us.
We will not specifically check the adequacy of your accounting records. However, if any issues arise during the course of our work then we will recommend improvements.
We will write to you on or around your year-end date to request the information and records we will need to prepare the accounts.
As part of our normal procedures we may request you to provide written confirmation of any information or explanations given to us verbally during the course of our work.
We will plan our work so as to ensure sufficient time is allowed to meet the submission deadlines. However if you fail to provide your accounting records in line with our request as noted above or do not promptly answer any queries that we raise, you understand that we will not be responsible for any late filing penalties charged for a late submission.
We will prepare your unaudited statutory accounts, including unaudited abbreviated accounts, where applicable, for your review and approval via our electronic portal.
We will provide a report with the accounts addressed to the Board of Directors. This will show that we have not carried out an audit but have compiled the accounts from the accounting records and from information and explanations supplied to us.
In order to file your unaudited accounts with both Companies House and HM Revenue and Customs, we will insert the inline Extensible Business Reporting Language (iXBRL) “tags” in accordance with the minimum tagging requirements specified by HM Revenue and Customs. This allows the data to be read by a computer. In most cases, we will use professional software to undertake the “tagging” and it is therefore agreed that you authorise us to process all normal/standard data tags without reference to you. However, as it is your legal responsibility to provide the information in iXBRL format, we will refer to you on any non-standard or judgemental areas.
We have a professional responsibility to not allow our name to be associated with accounts that we believe may be misleading. We are not required to search for such matters, but if we become aware that information in the accounts may be misleading we will discuss this with you so that appropriate adjustments or disclosures can be made. Where the adjustments or disclosures we consider appropriate are not made and we consider that the accounts remain misleading, we will withdraw from the engagement. In these circumstances you agree that we have a right to invoice you for our time spent preparing and discussing the accounts with you as well as time spent on any other work that is not completed as part of our resignation.
To the fullest extent permitted by law, we will not disclose any information to anyone other than the director(s) of the company or authorised personnel without your express written permission.
We will consider all requests made to us in writing to publish your unaudited statutory accounts.
We have the right to withhold consent to the electronic publication of our report or the accounts if they are to be published in an inappropriate manner or we have any other professional reason which we consider applicable.
Your advice and support has been invaluable throughout this crisis period. I really appreciate it.
I have worked with Richard for about 8 years and I couldn’t be happier with the level of service and commitment to the success of our business shown by him and his team. Richard is forward thinking and their desire to ‘go beyond’ and combine the accounting work with an appetite to assist in the success of our business is extremely valuable. I look forward to what the next chapter brings.
The team has been great at helping us get to grips with our income, expenditure and future expectations. This has supported us make decisions about the strategic direction of the business. I would highly recommend ‘Accounting & beyond’.
We met with Richard early on in our start-up journey and it’s been great working with him and the team. They are really keen to know what we’re doing and where we’re going and that’s not just about the numbers. We’ve been working with them to define what’s the best way forward and how we can maximise our sales and grow. Looking forward to seeing what the next few months bring!