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Accounts Layout

Small Company Accounts Layout

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I accept that company accounts filed with HMRC and Companies House need to be in formats FRS102 or FRS105 but are there any reasons why accounts sent to the client can't be more "user friendly". I usually only include notes to the accounts that are relevant and useful rather than note after note included seemingly only to pad out the accounts. I would also like to do away with the summarised P & L Account altogether as some clients find it confusing being in front of the Balance Sheet and duplicated further on in more detail.

Any thoughts?




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By Truthsayer
20th Jul 2021 08:45

If the client has approved the statutory full accounts, then a different format can be prepared for their own use to whatever format they want, provided those accounts make no claim to be compliant with the Companies Act or any FRS etc.

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By tom123
20th Jul 2021 08:58

The phrase you are grappling for is "management accounts"

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Replying to tom123:
By Leywood
20th Jul 2021 09:03


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By stepurhan
20th Jul 2021 09:24

No, there isn't any reason why the accounts sent to the client cannot be more user-friendly.

Can you prepare more user-friendly accounts without significant additional work? If not, are your clients prepared to pay more to get user-friendly accounts?

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By I'msorryIhaven'taclue
20th Jul 2021 09:57

I send the bare minimum requirement for statutory accounts, which of course amounts to very little with FRS105 accounts.

So the "management accounts" I send to accompany those FRS105s I call "Enhanced Accounts"; these contain a detailed P&L & B.S., and append the useful information that used to be presented within notes to FRSSE accounts - debtors and creditors breakdowns, highlighting DLAs; taxes creditors / debtors; FA note; anything inter-company - in short, the sort of information the clients can understand and might be interested in, only without too much camouflage.

I don't confuse them with a funds-flow statement, or with percentages (so no GP% or similar).

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By Moonbeam
20th Jul 2021 10:38

I prefer to ensure bookkeeping is done properly throughout the year, and encourage them to look at the P &L and Balance sheet each quarter. By the year end any information is well out of date.

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By atleastisoundknowledgable...
20th Jul 2021 14:15

We also file the minimum at CoHo - be that FRS105 or 102s1A abbreviated (Ed.?)
We provide the client a detailed Balance Sheet analysis with PY comparatives, same layout as the accounts so they can follow it, but giving actual information that means something to them ie less generic than 102s1A notes such as rent deposit not other debtors; the bottom half of the BS breaks the P&L into CY profit/divs/CT/R&D etc.

TBH part of the reason for doing it is that it’s formulated in the WPs and a quick way of checking the workings match the accounts!

We don’t compile a separate P&L, just what is in the full accounts.

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