Financial reporting services

Understand the requirements of statutory financial reporting for businesses. Learn how S&W’s dedicated, technical team of accountants can support with statutory year-end financial statements.
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Our team of dedicated technical specialists has extensive knowledge working with companies of all sizes and complexities. We can help with the preparation of financial statements to meet the requirements of:

  • FRS 102
  • FRS 101
  • IFRS
  • Single entities and consolidations
  • LLPs
  • Charities and academies
  • Pension schemes

Five signs you may need to outsource your statutory financial reporting:

  1. The business is growing organically or through acquisition, and is experiencing an increased administration burden
  2. Capacity issues challenge your finance team
  3. You face internal pressure to deliver to a timeline to meet your statutory requirements
  4.  Your audit team has identified a high volume of errors in the draft financial statements
  5. The business is entering new areas and lacks expertise or experience

What can S&W’s financial reporting team do to help you

  • Expertise

    Along with our accounting advisory division, we specialise in preparing complex accounts and have significant experience in accounting under local UK GAAP and IFRS. Both teams work with our clients to ensure they maintain an awareness of upcoming changes to accounting standards and the implications for their business. We are currently supporting several clients through the impacts of the Financial Reporting Exposure Draft (FRED 82).

  • Quality

    We conduct two levels of quality reviews of accounts to ensure accuracy and compliance with accounting standards. Quality checklists and reviews against model accounts are standard on all reviews.

  • Time back for internal finance teams

    We provide our clients with more time to focus on other financial responsibilities, relieving the pressures of the statutory reporting process.

  • Independence

    We prepare the financial statements independently from the audit team (whether that be internally at S&W or working with external third parties) and are experienced in working cohesively through the process to ensure we leverage each other's knowledge and maximise efficiency. We can help interpret accounting technical issues raised as part of the audit and find practical reporting solutions.

  • Cohesive timeline

    We prepare the accounts alongside the audit timeline to ensure a smooth process. We use a shared cloud platform (Inflo) to minimise requests and share knowledge. We consolidate amendments into as few batches as possible to maximise service efficiency. 

  • Personal service

    All our clients have a dedicated financial reporting team manager supporting them through the statutory reporting process. We provide effective engagement and true partnership working through regular meetings and ongoing communication.

Upcoming changes:

Are you ready?

  • What are the significant changes coming up in FRS 102?
  • How will revenue recognition change?
  • How will leases change?
  • The changes to revenue and lease accounting could be significant, but is there anything else which may change?
  • What else might affected entities need to think about?

FRED 82

The Financial Reporting Council (FRC) has approved a number of changes to FRS 102 within its Financial Reporting Exposure Draft (FRED 82). This constitutes a significant update to the financial reporting standards within the UK and Ireland.

The amendments focus on updating accounting requirements so that they reflect UK adopted international accounting standards (IFRS), whilst noting that the general size and complexity of entities applying FRS 102 is different to those under IFRS.

The changes will become effective for accounting periods beginning on or after 1 January 2026.

Company size limit changes

Company size thresholds are due to change from 6 April 2025, which could bring your company out of scope of audit. But what does that mean for your financial statement preparation?

The new thresholds for micro, small and medium companies are increasing, which may result in a change in scope for your company. 

Reach out to a member of the team if you wish to discuss these changes.

Delivering the brilliant basics

No matter how glossy the high-level service might be, we need to deliver the basics to a high standard and on time. Here is how we do it.

  • Our people

    We recognise that the quality of the services we provide depends on the quality of the people employed to deliver the financial statements.  We have stringent policies and procedures to ensure we recruit and retain competent, committed staff and partners.

    We know how important it is for you to have a team you can get to know and trust. At a senior level, we choose people with the right experience and expertise to work with you and we will not seek to change any of those team members unless it is for reasons outside of our control.

  • Our quality

    We are focused on delivering the highest levels of service quality. That goes beyond just ensuring the technical quality of our work and advice. Our working style is practical and commercial and we will address any accounting technical or other matters with you in an open and collaborative way.

  • Our technology

    The technologies we use are designed to support the delivery of an effective and efficient service, enabling the team to redirect time-savings back to engaging with you. 

Get in touch

If you would like to discuss any accounting or financial reporting challenges, let our financial reporting experts navigate complexities and create opportunities for you and your business.

Contact Katie Bradley to learn more. 

Contact Katie to learn more