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accurate accounts preparation for your business

This ensures that businesses are fully compliant and are submitting the right documentation, at the right time, as well as giving business owners the information they need to make key financial decisions.
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Stress-Free Accounting Services
We take care of your year-end accounting and tax while you take care of your business. Day-to-day bookkeeping with us ensures that your year-end accounts are finalised quickly and cost effectively. We can help you deal with incomplete accounting records with equal efficiency.

Year-end Accounts

If you are a sole trader, partnership or a company we can help you produce your year end accounts. Your accounting information requirements will vary depending on the size and needs of your business, but all businesses need accurate, timely and reliable financial information so you can make any decisions needed.

Research & Development Relief

R&D tax relief can be used by companies that are developing new or improved systems, processes, services or products in the areas of technology or science. You can also claim a tax credit even if your company is not making a profit. Our R&D Tax Relief accountants will help you decide how and when to invest, as well as generating your report for you.

Self-Assessment Tax Return

Allow us to save you the hassle and eliminate the risk of incurring penalties for inaccuracies, late filing, or payment. Furnish us with all receipts and invoices of expenses and income, and we will calculate your tax liability and ensure that your self-assessment tax return is correct and filed on time. Our experts can give you advice suited to your individual requirements.

Management Accounts

Management accounts are a vital part of understanding your business. They help inform you in depth about the financial state of your company and are very valuable in allowing you to make better decisions about company matters and your overall strategy.

Corporation Tax

We can help you to keep accurate corporation tax records, submit returns online on your behalf, ensure that all aspects of your tax returns is carefully managed and corresponds to HM Revenue and Customs (HMRC) requirements.
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Frequently asked questions about Accountancy

What is the Role of an Accountant?

An accountant has many duties and responsibilities, such as:
-> An accountant is responsible for financial accounting and reporting
-> He takes care of the auditing process
-> He helps in preparing tax documents
-> He provides management services and consulting
-> An accountant is responsible for financial analysis
-> He plays a major role in cash management

What is working capital?

It refers to the capital that is used in day-to-day trading. It is calculated by subtracting current liabilities from current assets. Working capital helps in calculating the resources that a company can count on to carry out its operations for the short term.

Are inactive and dormant accounts the same?

An inactive account refers to the account that has been closed and cannot be used in the future. A dormant account refers to the account that is currently not operational but can be used in the future.

Should I set up as a sole trader or as a limited company?

In rough terms running your business as a sole trader is more straight forward, easier to set up and cheaper but has the disadvantages of risking your personal assets and can be less tax efficient. Each case differs and we would recommend that we have a chat to see the option that is best for you and your business.

What is cash basis accounting?

Businesses that use cash basis accounting record income and expenses only when money related to those transactions is received or dispensed. They do not count sent invoices as income, or bills as expenses until they have been settled.

Despite the name, cash basis accounting has nothing to do with the form of payment you receive. You can be paid electronically and still be using cash accounting. You can use cash basis if you:
-> run a small self-employed business, for example sole trader or partnership
-> have a turnover of £150,000 or less a year

If you have more than one business, you can use the cash basis for all your businesses. The combined turnover from your businesses must be less than £150,000.

What is accrual basis accounting?

Businesses that use accrual accounting record income as soon as they raise an invoice for a customer. Revenue is accounted for when it is earned, and an expense is recognised when a bill is received. It is recognised as an expense even if the payment will not be made for another 30 days.
-> You have a much more accurate picture of business performance and finances
-> You can make financial decisions with far more confidence
-> It can sometimes be easier to pitch for long-term finance

Which one should I use?

The accrual method is the more commonly used method. One reason for the accrual method's popularity is that it smooths out earnings over time since it accounts for all income and expenses as they are generated. The cash basis method records these only when cash changes hands and can present more frequently changing views of profitability.

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bookkeeping
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Accountancy
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testimonials
what our clients say..
''..work tirelessly to ensure 100% accuracy and clarity..''
''JK Bookkeeping provide a reliable, friendly and accurate bookkeeping service for us each month. With some fairly difficult transactions to reconcile, including foreign exchange and import from outside of the UK, they work tirelessly to ensure 100% accuracy and clarity of our company financial position. Would thoroughly recommend their service, which also offer great value too.''
Jon Burton
CEO / Funeral Supplies Ltd
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''Great people and easy to work with, always on hand to answer queries and very happy with the standard of the work provided. Wouldn;t hesitate to recommend Jola and karolina at JK Bookkeeping.''
Alex Lockley
CEO / Grant James Consultancy Ltd
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''We use JK Bookkeeping for administering our company books in Xero and have been very happy with their service. They carried out an initial audit for us to ensure Xero was set up correctly and checked various integrations (Shopify, Zettle etc) to ensure correct data flow. They also do our monthly books. They are quick and efficient, responsive, knowledgeable and have good attention to detail. I would be happy to recommend them.
Scott Hunter
CEO / JJ Park Ltd
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