Compilation Of Annual Financial Statements For Small Businesses

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Financial Statements are a key tool businesses use to plan, structure, invest and grow. They provide high-quality, understandable and globally accepted financial reports for the position and performance of a business.

Per the South African Companies Act, all companies are required to produce Annual Financial Statements (AFS) each year within 6 months after the end of their financial year.

Small to Medium-sized entities often require financial statements:

  • As part of the application for financing and overdraft facilities
  • If an investment opportunity presents itself the financial statements will form part of the due diligence process
  • Simply for owner’s use
  • Compliance

Remote AFS will collect your financial information and compile the financial statements for small businesses in accordance with the International Financial Reporting Standard for Small and Medium-sized Entities ( IFRS for SME’s) framework.

South African Section 90 Companies requires independently compiled financial statements where auditors are disqualified from preparing financial statements.

We have positioned ourselves as the provider of choice through the development of a seamless reporting process and assisting in practical application of reporting framework, with experience from medium to listed-entity financial statements.

We are also able to convert the financial statements in XBRL format for submission to the Companies and Intellectual Properties Commission (CIPC).

Affordable price plans

  • Pricing plans
    General Information: Directors' Responsibilities: Directors' Report: Independent Auditor's Report: Independent Reviewer Report: Statement of Financial Position: Statement of Comp. Income: Statement of Changes in Equity: Statement of Cash Flows: Accounting Policies: Notes: Detailed Income Statement: Delivery time:
  • Pricing plans
    Basic

    R12,890.00

    Annual turnover is R22m. Employees between 10 and 50.

    General Information
    Directors' Responsibilities
    Directors' Report
    Independent Auditor's Report
    Independent Reviewer Report
    Statement of Financial Position
    Statement of Comp. Income
    Statement of Changes in Equity
    Statement of Cash Flows
    Accounting Policies
    Notes
    Detailed Income Statement
    Delivery time 2 Days
    Buy now
  • Pricing plans
    Standard

    R15,472.00

    Annual turnover is R45m. Employees between 10 and 50.

    General Information
    Directors' Responsibilities
    Directors' Report
    Independent Auditor's Report
    Independent Reviewer Report
    Statement of Financial Position
    Statement of Comp. Income
    Statement of Changes in Equity
    Statement of Cash Flows
    Accounting Policies
    Notes
    Detailed Income Statement
    Delivery time 3 Days
    Buy now
  • Pricing plans
    Premium

    R18,611.00

    Annual turnover is R80m. Employees between 10 and 50.

    General Information
    Directors' Responsibilities
    Directors' Report
    Independent Auditor's Report
    Independent Reviewer Report
    Statement of Financial Position
    Statement of Comp. Income
    Statement of Changes in Equity
    Statement of Cash Flows
    Accounting Policies
    Notes
    Detailed Income Statement
    Delivery time 3 Days
    Buy now

Additional services

  • Consolidation

    Financial Statements can be separate per entity or consolidate the statements of a number of entities. Consolidated financial statements are financial statements that present the assets, liabilities, equity, income, expenses and cash flows of a parent and its subsidiaries as those of a single economic entity.

    R15,000.00
  • XBRL Report

    iXBRL is a global digital reporting standard for exchanging business information for financial reporting.

    As of 1st July 2018, the CIPC (Companies and Intellectual Property Commission) has made it mandatory for qualifying entities in South Africa to submit their Annual Financial Statements (AFS) in an iXBRL (Inline eXtensible Business Reporting Language) format.

    The CIPC is also encouraging all entities in South Africa to realize the benefits of iXBRL reporting to improve the quality of their Annual Financial Statements (AFS) through CIPC’s comprehensive business validation rules.

    R2,500.00
  • Income Tax Computation
    R1,300.00
  • Annual Return Submission

    Companies must file within 30 business days AFTER the anniversary date of its incorporation while close corporations must file within the anniversary MONTH of its incorporation up until the month thereafter (effectively 2 months). It is important to note that CIPC does not allow access to file the returns before the due date.

    All Companies that require an audit must also submit their audited financial statements. The rest of the companies have to submit a financial accountability statement ( CoR 30.2).

    The amount of money a company has to pay to CIPC for its annual returns depends on what type of company it is e.g: CC or (Pty) Ltd (new or old Act) and what the turnover is. The turnover is calculated on the last financial year (not calendar year) so that the CIPC can compare it with SARS for accuracy.

    R590.00
  • Change in registered address

    The registered address or office of a company is very important, as it is the address at which any legal documents will be served on the company. Companies are required by law to ensure that this information is up to date, and may be liable for a fine or prosecution if it is found that the information is not up to date.

    R350.00
  • CIPC Director Changes

    Director changes are required to be lodged with CIPC to ensure that their records are up to date.

    Shareholder changes are the responsibility of the Directors and are NOT required to be lodged with CIPC.

    We offer both services and can do them simultaneously.

    The Directors run the company and Shareholders own the company.

    R550.00
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Fequently asked questions

What are Financial Statements?

Financial Statements are a key tool business owners use to plan, structure, invest and grow. They provide high-quality, understandable and globally accepted financial reports for the position and performance of your business.

Per the South African Companies Act, all companies are required to produce Annual Financial Statements (AFS) each year within 6 months after the end of their financial year.

Small to Medium-sized entities often require Financial Statements: (1) As part of the application for financing and overdraft facilities (2) If an investment opportunity presents itself, the Financial (3) Statements will form part of the due diligence process Compliance with tax and CIPC statutory submission requirements (4) Simply for owner’s use.

Our professional Chartered Accountants at Remote AFS™ will: (1) Collect your financial information (2) Compile your Financial Statements using the IFRS for SMEs framework (3) Convert your Financial Statements in XBRL format to submit to the CIPC.

(1) Quality reports (2) 100% on-time delivery (3) Unlimited revisions until you are satisfied.

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