Navigating Early-Stage Company Compliance

Keirstone supported a newly established digital media company with its initial compliance obligations. The company, in its early stages, had been primarily relying on bank statements and invoices/receipts to track its financial transactions.

To ensure efficient and secure data transfer, we established a dedicated Dropbox folder for the client to upload their financial documents. This streamlined the process while maintaining strict adherence to GDPR regulations.

Given the absence of formal bookkeeping records, we meticulously reviewed the provided bank statements and invoices/receipts to reconstruct the company’s financial transactions. This involved categorising expenses, identifying income sources, and accurately recording all relevant financial data.

With the comprehensive financial data in hand, we prepared and filed the company’s first annual return with Companies House. This crucial filing marked the company’s compliance with its statutory obligations.

In addition to the annual return, we also prepared and submitted the company’s corporation tax return to HMRC. This involved calculating the company’s taxable profits, claiming allowable expenses, and ensuring accurate tax reporting.

By providing expert guidance and meticulous attention to detail, Keirstone helped the digital media company successfully navigate its initial compliance requirements, setting a strong foundation for future financial management.