How to READ AND UNDERSTAND Limited Company Accounts | Full walkthrough with an accountant

Understanding limited company accounts is not an easy task, knowing what the terminology and figures actually mean can seem like an impossible task. In this video I run through a set up UK Limited Company accounts to break down what the numbers mean and what you should look at in your company accounts.

I explain:
What the income statement is?
What the balance sheet is?
How to read the notes of the accounts?
What an accountants report is?

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DISCLAIMER
Our videos are for general guidance, education and empowerment in helping you understand accounting, tax and your numbers. They in no way constitute specific advice to your specific circumstances. Me & my team would be delighted to help you with your specific queries or accounting requirements through a formal engagement.

[WillTheRider]

This is such a good video, we never get educated on how to do these things.
Keep up the good work.

[josephjamesgough]

I look at some Total exemption full accounts reports and they do not have the profit they have made, is there no need to show this in some cases? Is it possible to find this elsewhere?

[RafaelSchaider]

anyone knows why this company is not registered for VAT with a turnover of 1.6M ? wondering why or if i got the VAT thing all wrong....

[followthefocusofficial]

Is there somewhere, that you can learn how to prepare and work out ltd company accounts that doesn't cost a fortune? I want to start a ltd company and there will be our family as equal directors (2 adults and 3 adult kids) but we only want to take dividends every year.

[rob-]

Why would you skip one quarter of the statement?