Statutory Audit

Our experienced and professional team can provide a wide range of audit services for your single company, group, or as a component auditor.

Comprehensive Audit Services

We can help you understand whether or not your company needs an audit. This is a very important as an audit can be a costly and time-consuming process.

If your company needs an audit, our team of experts can help you through the process. We’ll work with you to ensure that your financial statements are accurate and that all necessary regulations are met. We’ll also provide valuable advice on how to improve your business operations and minimise risk.

Advantages of an Audit

Both voluntary or compulsory audits, adds credibility to your financial statements, and helps reassure external parties (be it suppliers, potential acquirers, or finance houses) about the underlying business. It also provides you and your shareholders with assurance that your results are not materially misstated, leading to better decision making.

As part of the audit, we get to know your business in depth, including the environment you operate in and the internal controls and processes that your staff follow on every day. This can generate valuable advice and suggestions to help your business run smoothly and minimise risk, as well as help your staff become more productive. An audit can also help promote a positive culture and minimise fraud as staff will be aware that a third party is regularly reviewing the company’s records.

Does Your Business Need an Audit?

Your business may need an audit if it has at least two out of the following three criteria:

• An annual turnover of over £10.2 million (pro-rate this if your accounting period is not 12 months)
• Assets worth over £5.1 million
• 50 or greater employees on average

There are some exceptions that may apply, such as if these criteria did not apply for the prior two accounting periods, though it can be a complex area to navigate on your own. Our team of experts can help you determine what your requirements are.

Futhermore, you may be below these thresholds but be a member of a larger group that means you still require an audit.

Charities

We can also help with charities, though the charity audit thresholds are much smaller than the Company audit thresholds:

an independent examination is required for charities with gross income of more than £25,000, but not more than £1 million, provided that if its gross income is more than £250,000, its gross assets (fixed assets plus current assets) are £3.26 million or less; or

A full audit is required if your gross income is over £1 million, or £250,000 if your gross assets are over £3.26 million.

Choose Hamlyns as Your Auditors

At Hamlyns, we take pride in providing a proactive and personalised approach to help improve your business. We understand that meeting compliance needs is just the beginning, which is why we work closely with our clients to provide valuable advice on how to improve business operations and minimise risk.

Our team of experts has extensive experience in auditing under UK GAAP (FRS 102, FRS 102 1A, FRS 101) and IFRS, and we are registered to perform audits in the UK by the Institute of Chartered Accountants in England and Wales, with reference number C009400266. We also cover charity audits and independent examinations, and can assist with special investigations, interim reviews, and profit verifications.

So why choose Hamlyns as your auditors? We believe that our personalised approach sets us apart, and we are committed to delivering high quality, efficient and effective services to our clients. Let us help you improve your business – choose Hamlyns as your auditors today.