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CIC accounts filed on time and ready for your funders
CIC accounts are what most Cardiff community interest companies call us about first, usually a few weeks before a funder wants to see the figures.
Most CICs are run by the same people doing the delivery work. The report Companies House wants is not the same as the one your funder wants, and both land in the same month. Tax investigation cover is included free for every client we act for.
In one lineSupreme Consultants is an AAT licensed accountancy practice in Cardiff Bay that prepares annual CIC accounts, community interest reports and corporation tax returns for community interest companies across South Wales. Fees are fixed and agreed before work starts. The founders run their own community interest company, LedgerUp CIC.
Check we’re the right fit
A few questions about your business. Mudassir replies the same working day.
Thank you Mud, your help and support with my VAT return is greatly appreciated. Always a prompt response and my difficult VAT return was quickly submitted and resolved. Would definitely recommend.
Are your CIC accounts in good hands? Three questions.
Answer with a button, and we do not ask for your email.
Question 1 of 3
Does your accountant reply the same working day?
Do you know your fee will not change this year?
Has your accountant written a community interest report before?
That is a real gap, and it tends to show up the week a funder asks for numbers. The check takes a few minutes and tells us exactly where you stand.
Start the checkYou are in a reasonable position on the basics. There is one thing here worth a conversation before your next filing date.
Start the checkYou are well served and there is no reason to move. The guides are there if you want to read up on grant reporting.
Read the guidesWhat you get
Tax investigation cover at no extra cost
Investigation cover is included free for every client. Every HMRC investigation we have handled, we have won.
Accounts ready before the funder asks
We draft the annual accounts and the community interest report ahead of the filing date, so you can send a grant officer real figures the week they ask.
No invoice for picking up the phone
Calls, meetings and emails are never charged for. When Companies House brought in director ID verification, we did it free for every existing client while other firms charged around £50 a head.
What CIC directors tell us when they first call
Three things come up again and again with community interest companies in South Wales.
“Our funder wants a spend report by Friday and our books are nine months behind.”
The grant officer got a holding email instead of figures, and the next payment slipped a month.
“Nobody told us the community interest report had to say what we actually delivered.”
A thin report went in and came back with questions, which cost the directors a fortnight.
“Our accountant handles limited companies fine, but he had never done a CIC before.”
The directors ended up writing their own report and still filed after the deadline.
What changes once we take your CIC accounts on
We map every date for the year ahead: Companies House, corporation tax and your funder reporting dates. The accounts and the community interest report are drafted early, so you approve them with time in hand. When a funder asks for figures mid-year, we send them.
How we compare with a general practice doing your CIC accounts
Plenty of good accountants handle limited companies well and meet a CIC once a year.
A general practice
Accounts filed at the Companies House deadline.
Community interest report written from a template.
A call or an email can appear on the invoice.
Funder questions answered when there is time.
With Supreme Consultants
Accounts drafted early for grant deadlines.
Community interest report written from what you delivered.
Calls, meetings and emails are never charged for.
Same working day reply on funder questions.
Eight questions about your CIC set-up
Answer these honestly and you will know how exposed your next filing is.
Do you know the date your CIC accounts are due at Companies House?
We diarise it and start the draft well before it.
Is your bookkeeping split by grant or funding stream?
Restricted funds need to be traceable before any report is written.
Can you show a funder what their money was spent on?
We keep the spend coded so that answer takes minutes.
Does your community interest report describe real activity?
The regulator wants what you did for the community, in your own terms.
Are directors’ payments recorded clearly in your records?
They have to be disclosed properly in the report.
Is a corporation tax return filed alongside the accounts?
A CIC is still a company and HMRC expects the return.
Can you get an answer from your accountant the same day?
We come back the same working day, every time.
Do you know your fee for the year ahead?
Ours is fixed in writing before any work starts.
What we do for your CIC accounts
The full annual job for a community interest company, under one fixed fee.
All Services- Annual CIC accounts
- Year-end accounts prepared and filed at Companies House, drafted early so you approve them with time to spare.
- Community interest report
- We write the report from what your CIC actually delivered that year, including the figures the regulator expects to see.
- Corporation tax return
- Computed and filed alongside the accounts, with the reliefs your CIC is entitled to claimed.
- Grant and funder reporting
- Spend coded by funding stream through the year, so a report can go out in the week a funder asks for it.
- Bookkeeping and Xero
- Day-to-day bookkeeping kept current, with free migration to Xero if you want to move software.
What a first meeting found for a Cardiff retail client
A Spar franchisee came to us still paying full business rates through Covid. Cardiff Council ran retail rates relief by application and nobody had told him to apply.
Clients described by type. Names withheld.
- How it was found
- We spotted it in the first meeting, because we know how the Welsh schemes are claimed.
- What happened
- He got the money back and now rings us with the small questions as they come up.
Reviews from clients
Thank you Mud, your help and support with my VAT return is greatly appreciated. Always a prompt response and my difficult VAT return was quickly submitted and resolved. Would definitely recommend.
I just want to say a big thank you to Mudassir for all the advice, guidance and help he has provided whilst dealing with my accounts and tax returns. From start to finish the service has been excellent and professional. Unlike other accountancy firms they provide a friendly personalised service, I was very clear on the process and was even provided with additional guidance where needed. Highly recommended!
Friendly, nice 👌 , helpful and great all around
Difficult to describe as there are too many words that can be expressed for a wonderful accountant and their firm.
Definitely 🔝 and highly recommended in Wales 🏴 and throughout the UK for Accountancy and Tax Services
Shaz Khan
How switching to us works
You tell us where things stand and we handle the moving.
- Before you join
A free introductory chat
Tell us where your accounts and funder reporting stand. If we cannot genuinely help, we will say so.
- Week one
Fee agreed, records collected
We complete your ID checks, agree your fixed fee in writing and write to your current accountant for the records. You skip that conversation.
- First month
Past filings reviewed properly
We go through your accounts, returns and HMRC records in detail. This is where missed reliefs and appealable penalties turn up.
- By ninety days
Every deadline mapped out
Companies House, corporation tax, VAT, payroll and your grant reporting dates are diarised for the year ahead.
Who we are not right for
We do not take on CIS construction subcontractors.
We do not act for registered charities.
We cannot take on a business already late in an HMRC investigation.
If none of those describe you, the three question check will show us where you stand.
CIC accounts: questions people ask
How much do CIC accounts cost?
You pay one fixed monthly fee, agreed in writing before any work starts, covering the annual accounts, the community interest report and the corporation tax return. The figure depends on your transaction volume, how many funding streams you run and how tidy the records are, so we quote it after the introductory chat rather than guess.
Can you take over our CIC accounts from our current accountant?
Yes. We send the professional clearance letter and collect your records directly, so you do not have to have that conversation. We get appointed as your agent with HMRC and Companies House, handle ID verification where it is required, and give you a free first month and free migration to Xero.
What happens if HMRC writes to us or opens a check?
You send us the letter and we deal with HMRC directly. Tax investigation cover is included free for every client, where other firms sell it as an add-on. Every HMRC investigation we have handled, we have won. Bring it to us early, because the sooner we are involved the more we can change.
Do we have to change our accounting software?
No. We work with what you already use, and we only suggest a change if it will save you time. If you do want to move to Xero, the migration is free and we set up the coding by funding stream so grant spend is easy to report on later.
What is the community interest report and who reads it?
It is the annual report a CIC files alongside its accounts, describing what the company did for the community it was set up to serve, along with disclosures on directors’ pay and any assets transferred. The regulator reads it, and funders often do too, so it is worth writing properly.
Can you file our CIC accounts early for a grant deadline?
Yes, and that is usually how we plan the year. We draft the accounts and the report ahead of the Companies House date so the figures exist when a funder asks. If a report is needed mid-year, we produce it from the bookkeeping without waiting for the year end.
Three ways to take the next step
Run the three question check
It takes a few minutes, and we come back the same working day with what we would do first.
Start the checkGot a question about your next filing?
Ask Mudassir directly, because calls and emails are never charged for.
Ask Mudassir a questionStill deciding
The guides explain how CIC reporting and grant spend records fit together through the year.
Read the guides