- A company’s financial position
- A company’s financial strength.
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After your set up a company, you will be obliged to submit a number of statutory documents to HMRC and Companies House on an annual basis. One of these is the Corporation Tax Return and the other is the company’s accounts which are filed to HMRC and Companies House respectively. As accounting is one of the two fundamental compliance requirements that every company is obliged to complete annually, it is important to understand what accounts are on a basic level. The main purpose of accounting is to show:
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