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Accountants for Startups

Features of our Accounting Services for Small Business

Customised Guidance

Complete Services

Focus on Growth

Better Tax Compliance

How Our Expert Accountants Support Startups and Small Business Accounting

At PHS, we specialise in providing comprehensive business start-up services customise for aspiring entrepreneurs in the UK. We aim to guide you through the entire process of launching your business, from developing your initial idea to establishing a fully operational company. We understand that starting a business can be overwhelming, which is why we offer personalised support every step of the way.

How We Can Help

Our team of expert accountants for startups is dedicated to providing complete accounting services for small businesses customised to your needs.

  • Our experts will review your financial figures.
  • We manage day-to-day bookkeeping and payroll tasks.
  • We ensure that your new business meets all HMRC requirements.
  • We'll inform you of important deadlines.
  • Our team will help you create realistic cash flow predictions.
  • We handle self assessment tax returns.
  • Stay informed about any new tax legislation that may affect your business.
  • We assist with share allocation processes to ensure smooth operations.
  • From day one, we help you develop an effective business plan important for securing bank funding.

Why Choose Our accounting services for small business start-ups in the UK

Expert guidance

Our experienced consultants offer valuable insights to help you navigate and avoid common challenges faced by new businesses.

Time efficiency

We streamline the start-up process, enabling you to launch your business quickly and effectively.

Increased funding opportunities

With our assistance, clients often achieve funding success at rates that exceed industry averages, enhancing their financial prospects.

Reduced risk of failure

With our guidance, clients often secure funding at higher rates than industry averages.

Business start-up services

PHS offers a wide range of services designed to meet the diverse needs of new entrepreneurs,

Business idea assessment

We start by looking at your business idea and giving you helpful feedback to make sure it’s practical and meets what the market needs. Our assessment includes checking the strengths, weaknesses, opportunities, and threats (SWOT) of your idea. This helps you improve your concept and make it more likely to succeed.

Business plan development

Our experienced team assists you in creating a professional business plan that meets investor expectations. This plan outlines your business goals, operational strategies, and financial projections, serving as a roadmap for your venture.

Funding advice

We help you identify potential funding sources, including government-backed loans and grants. By guiding you through the funding landscape, we ensure you have access to the financial resources necessary to launch and grow your business.

Legal compliance support

Starting a business in the UK involves navigating various legal requirements. Our team ensures that all necessary regulations are met, helping you avoid potential mistakes and focus on building your business.

Operational management

We provide guidance on setting up daily operations, including bookkeeping and financial management. This support helps streamline your processes and ensures that you have the right systems in place for long-term success.

Reach us today.

If you want to take your accounting work to the next level, then reach us today without wasting time.

Gives us a Call

0208 8611685

Send me Mail

info@phs-uk.co.uk

Frequently Asked Questions

Annual accounts, also known as statutory accounts, are financial documents that summarise a company's financial activities over a specific period, usually one year. These accounts are essential for reporting to Companies House and HM Revenue and Customs (HMRC). They typically include a balance sheet, profit and loss account, notes about the accounts, and sometimes a director's report.

Yes, you can prepare your company accounts in the UK. However, while it's possible, many business owners choose to hire an accountant to ensure accuracy and compliance with legal requirements. An accountant can help navigate complex regulations and provide valuable insights into your financial situation.

Balance Sheet: Shows what the company owns (assets), owes (liabilities), and the net worth (equity) at the end of the financial year. Profit and Loss Account: Details the company's income, expenses, and profit or loss over the year. Notes to the Accounts: Provide additional context and explanations about specific figures in the accounts. Director’s Report: Summarises the company’s performance and future outlook (unless exempt).

Financial statements are a broader term that includes various reports like balance sheets and profit and loss accounts. Annual accounts specifically refer to the complete set of financial statements prepared at the end of a company's financial year for submission to Companies House and HMRC. In essence, all annual accounts are financial statements, but not all financial statements are annual accounts.

Reading annual accounts involves understanding key components: Balance Sheet: Look at assets vs. liabilities to gauge financial health. Profit and Loss Account: Check revenue against expenses to see if the company is profitable. Notes: Read these for context on accounting policies or unusual transactions. Director’s Report: This section provides insights into management's view on performance and plans. By focusing on these areas, you can get a clear picture of a company's financial status and performance over the year.

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PHS Associates Acc & Co is led by a skilled team with expertise in Accounting, Taxation, Payroll, Business consultancy, and Company secretarial services.

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Company number - 08670151