Micro-Entity Accounts

rustlings

Hi All,

I set up a Ltd company about 8 months ago which, due to the pandemic didn't do very much at all. Long story short, I had to go out and get a "proper job" again.

I'm planning to shut down the company but before I do that, presumably I need to get the accounts done.

The business turnover is around £2000 but about 80% of this came from 2 jobs. Probably only made about £400 profit. There's fewer than 50 transactions in total (using Sage) so really reluctant to pay a large fee to an accountant to do them. 

My question is, do I need an accountant to sign the accounts off? I have a friend who is able to prepare accounts (although not qualified he works in finance at a large company) 

Would appreciate advice - thanks!!

Savvy_Sue

Your friend may be able to prepare accounts, but one advantage of using a 'proper' accountant is that they would know all the steps you need to take in order to close a company 'cleanly'. It is not always straightforward, especially if you are owed money by HMRC, or don't realise that you owe money to HMRC. 

rustlings

Thanks for the reply Sue