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Annual Accounts / Compilation Report

Only for UK Tier 1 (Entrepreneur) points system

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Annual Accounts / Compilation Report

Post by muhammadaliabad » Mon Nov 28, 2016 1:17 am

My query is regarding Annual Accounts & Compilation Report

Investment:

1st Year: 17,000
2nd Year: 20,000
3rd Year: 28,500
Total: 65,500

I have received last year accounts which is showing 2nd Year and 3rd figures. Last year accounts are not showing 1st year figures due to space limitation. Do I need to send separate 1st year accounts or last two year accounts are enough for extension?

I have concern about accounts compilation report which is very short and precise. Could seniors please confirm following wordings meet the requirement of accounts compilation report.

Report of the Accountant to the Director of XYZ Limited

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 5 November 2016 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.


XYZ Accountants Limited
Address of Accountant

Dated: 27th November 2016

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Re: Annual Accounts / Compilation Report

Post by Zimba » Mon Nov 28, 2016 1:41 am

Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

muhammadaliabad
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Re: Annual Accounts / Compilation Report

Post by muhammadaliabad » Mon Nov 28, 2016 1:58 am


Hi zimba88....the link you have shared to read is not answering any of my above questions.

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Re: Annual Accounts / Compilation Report

Post by muhammadaliabad » Mon Nov 28, 2016 7:18 pm

Can someone answer above query regarding annual accounts and compilation report format.

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Re: Annual Accounts / Compilation Report

Post by sgdxb » Tue Nov 29, 2016 10:24 pm

Report to the director on the preparation of the unaudited statutory accounts of YOUR COMPANY Ltd For The Year Ended 31 May 2016

To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of YOUR COMPANY Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/membershandbook.
OR

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/en/member/pro ... ebook.html.


This report is made to the director of YOUR COMPANY Ltd, as a body, in accordance with the terms of our engagement letter dated. Our work has been undertaken solely to prepare for your approval the accounts of YOUR COMPANY Ltd and state those matters that we have agreed to state to the director of YOUR COMPANY Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation.


OR

This report is made to the director of YOUR COMPANY Ltd, as a body, in accordance with the terms of our engagement letter dated. Our work has been undertaken solely to prepare for your approval the accounts of YOUR COMPANY Ltd and state those matters that we have agreed to state to the director of YOUR COMPANY Ltd, as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at
http://www.accaglobal.com/content/dam/A ... et-163.pdf.



To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than YOUR COMPANY Ltd and its director as a body for our work or for this report.

It is your duty to ensure that YOUR COMPANY Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of YOUR COMPANY Ltd. You consider that YOUR COMPANY Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of YOUR COMPANY Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

This is FYI only. Do not rely on it. Check with your accountant.

muhammadaliabad
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Re: Annual Accounts / Compilation Report

Post by muhammadaliabad » Tue Nov 29, 2016 10:39 pm

Thanks sgdxb on your inputs here.

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