Management Company Year End Accounts ?

Lucky131313

Hi chaps

I’ve taken over as Company Secretary of our Management Company, 6 flats in an old Victorian House, I’m just wondering if someone knows of a guide on how to complete and return the company accounts for 2019 ?

We have the service charge income, £80 a flat and then outgoings such as building insurance, electricity bill, cleaner and few odds and ends..really only a handful of money in and money out transactions.

Is there a template of something nice and easy I can use or copy ?

Many thanks Lucky

anselld

Can you not just download the previous year accounts from Companies House?

AdrianC

https://www.amazon.co.uk/dp/1119026539/

Lucky131313

anselld wrote: »

Can you not just download the previous year accounts from Companies House?

Thanks I’ve looked at those but all the columns are mixed up and the formatting has been lost, I’m really not sure what the hell is going on plus there is very little detail on what each amount is for or means and how I find or submit the online form..even if it is an online form ???

Lucky131313

AdrianC wrote: »

.amazuk/dp/1119026539/

Thanks but I need something more specific I tend to get easily confused and overwhelmed, I need something very specific and with 1000’s of normal none business savy residential people running these flat management companies you really think there would be a simple 1,2,3 guide somewhere online.

eddddy

If you don't know how to do it, why not instruct an accountant to do it?

It would be a legitimate Management Company expense, so the accountant's fee would come out of service charge funds.

And split 6 ways, it's not going to be very much each.

Lucky131313

eddddy wrote: »

If you don't know how to do it, why not instruct an accountant to do it?

It would be a legitimate Management Company expense, so the accountant's fee would come out of service charge funds.

And split 6 ways, it's not going to be very much each.

I appreciate that but I thought the whole point of this forums was to save money ..moneysavingexpert ? It would easily cost £200-300 for a accountant to essentially fill in 1 page of A4, once I have a guide it’s going to be an very easy process every year but it’s only easy once you know how

00ec25

Lucky131313 wrote: »

I appreciate that but I thought the whole point of this forums was to save money ..moneysavingexpert ? It would easily cost £200-300 for a accountant to essentially fill in 1 page of A4, once I have a guide it’s going to be an very easy process every year but it’s only easy once you know how

well you won't save money if you submit rubbish and get investigated by HMRC

you state yourself

Lucky131313 wrote: »

I tend to get easily confused and overwhelmed,

so why do you think you can cope with the help of "only" a book?

what do the other directors of the company think?
who did them before?

if you cannot follow what was done last year given you (should) have the working papers by simply repeating that, then it suggests the company needs someone who knows what they are doing to draw a line at this year's accounts.

you can always ask the accountant to give you full workings and therefore have a start point for DIY next year

Lucky131313

00ec25 wrote: »

well you won't save money if you submit rubbish and get investigated by HMRC

you state yourself you are easily confused and overwhelmed so pay so why do you think you can cope with the help of "only" a book?

what do the other directors of the company think?
who did them before?

if you cannot follow what was done last year given you (should) have the working papers by simply repeating that then it suggests the company needs someone who knowns what they are doing to draw a line at this year's accounts.


you can always ask the accountant to give you full workings and therefore have a start point for DIY next year

We really don’t have £200-300 to spend on an accountant it’s a luxury you might be able to afford but not us, I guess I will just keep looking and hopefully find someone or a website that has a guide..I thought this would be a lot easier to find help on but I guess not around here.

diggingdude

Should you really be doing this if you admit its not something you find straight forward? If something goes wrong guaranteed lease holders will come after you if not HMRC

Lucky131313

Good god I’ve got a Masters I’m not brain dead, why on earth would I submit accounts if I wasn’t sure it was correct??? ....my original post is to find a simple guide for submitting accounts for a small management company instead I’ve been advised to buy a 400 page book on accounting or spend £300 on an accountant..you guys really are the most helpful, unhelpful people I’ve ever come across :T


this has got to be the most condescending forum I’ve ever been on, I’ve askex for help