News

Financial Year End Document Solutions

Date: 2015-04-09

For companies now archiving last financial year’s files and paperwork or clearing out redundant records, Russell Richardson are the experts to trust, with a comprehensive range of document storage and shredding solutions.

Limited companies are required to keep the following accounting records for six years from the end of the last company financial year they relate to:

  • all money received and spent by the company
  • details of assets owned by the company
  • debts the company owes or is owed
  • stock the company owns at the end of the financial year
  • the stocktakings you used to work out the stock figure
  • all goods bought and sold
  • who you bought and sold them to and from (unless you run a retail business)

Limited companies must also keep any other financial records, information and calculations including records of all money:

  • spent by the company, eg receipts, petty cash books, orders and delivery notes
  • received by the company, eg invoices, contracts, sales books and till rolls
  • other relevant documents, eg bank statements and correspondence.

For most companies, this is a vast amount of documents, containing huge amounts of confidential data.

Russell Richardson are now able to provide cost effective, secure archive storage, keeping documents safely stored, not only freeing up valuable office space, but also keeping your company data protection compliant. 

For financial records over six years old and no longer required, Russell Richardson provide a confidential shredding service, available on site at your premises, or off site at their secure warehouse. With all shredded paper recycled locally, the service is an environmentally friendly way to dispose of confidential documents securely. 

“Not keeping financial records for the required period of time can result in company directors being fined £3,000 by HMRC or disqualified, yet companies can’t afford to risk a data breach or becoming non-compliant with the data protection act,” commented Jonathan Richardson, managing director at Russell Richardson. “Archive storage and shredding services from a reputable company take away these headaches for company directors and often cost much less than people expect.”

For a no obligation quote or advise on secure document storage or destruction, contact Russell Richardson on 0800 2946552 or email info@russellrichardson.co.uk