Statutory Audits In Romford
Millet Audit are a leading accountancy company, specialising in financial and statutory audits.
Get in Touch
Does your Romford business need a statutory audit?
Romford has a diverse business community, from well-established family firms to ambitious new ventures in retail, construction, and professional services. Under the Companies Act 2006, UK companies that exceed two of the following three thresholds usually require a statutory audit each financial year: a turnover of more than £10.2 million, assets over £5.1 million, or more than 50 employees. Some businesses must also have an audit regardless of size, including public companies, those in regulated industries, and businesses where shareholders demand it.
Speak to our team and we’ll help you understand your obligations, agree a realistic timeline, and guide you through the process from planning through to final report. Most audits take between two and six weeks to complete, and we work around your schedule to minimise disruption.
Professional Audit Services from Millet Audit
At Millet Audit, we provide dependable statutory audit services for businesses throughout Romford and the wider East London area. Our experienced team understands the pressures that come with running a company and meeting strict reporting deadlines. We help ensure your accounts are clear, accurate, and fully compliant with UK law. Romford has a diverse business community, from well-established family firms to ambitious new ventures in retail, construction, and professional services. We tailor our audit approach to suit each client’s unique situation, so you always feel supported and never like just another number.
We believe a statutory audit should do more than meet the legal requirement — it should give you real confidence in your business finances. Our friendly, local team gets to know your company inside out so that your audit not only checks the boxes but also highlights areas to strengthen your systems and spot opportunities for improvement. With Millet Audit by your side, your Romford business will always be prepared, compliant, and ready to grow.
Get in Touch
Understanding Statutory Audit Requirements in the UK
A statutory audit is a legal obligation for certain businesses, depending on their size and turnover. If your Romford company exceeds two out of three thresholds — more than £10.2 million in turnover, assets worth more than £5.1 million, or more than 50 employees — you are required to have your financial statements audited each year. This is set out under the Companies Act 2006, which ensures that companies remain transparent and accountable to stakeholders and regulators.
We know that many business owners feel overwhelmed by these requirements, especially if they’re close to crossing the thresholds for the first time. Millet Audit is here to make things clearer. We’ll review your situation, explain what’s needed in simple terms, and help you prepare the right documentation. Our team keeps you updated throughout, so you’re never left guessing about what comes next. For businesses in Romford looking to meet their legal obligations without hassle, our statutory audit services offer exactly the support you need.
Contact Us TodayFinancial Audits – Clearer Figures for Better Decisions
A financial audit is more than just a check on the numbers — it’s your chance to ensure your accounts are a true and fair reflection of your company’s position. At Millet Audit, our detailed approach helps Romford businesses gain greater insight into how they’re really performing. We carefully assess your income, expenses, assets, and liabilities, looking for inconsistencies or areas that need improvement. The result is not just compliance but better business decisions for the future.
Many Romford companies, especially those operating in East London’s competitive market, benefit from this extra level of reassurance. Whether you’re running a growing construction business, a local retailer, or a busy service firm, you want your accounts to be watertight and your stakeholders to feel confident in what they see. We tailor each financial audit to your size and sector, so you always get a thorough, relevant review. Once the audit is complete, we provide a clear report and practical recommendations, giving you peace of mind that your finances are in good order.
Get in Touch
Personal, Local Service
At Millet Audit, we offer a genuinely personal audit service in Shoreditch, combining local knowledge with responsive support to ensure your business meets its obligations with confidence, clarity, and minimal disruption.
Expert Audit Insight
Our statutory audits do more than tick boxes. We provide clear, professional insight that highlights risks, identifies opportunities, and helps your business grow. Trust Millet Audit to deliver audits that add real value to your company.
Tailored for Growth
Whether you’re a growing SME or a large private firm, we tailor our audit approach to suit your business. With us, you’ll receive practical guidance, detailed reporting, and consistent support every step of the way. Get in touch with our team today.
Regulated by
We’re committed
Our Commitments
Integrity
Everything we do we do with the upmost integrity
Understanding
We will ensure we understand your business
Commitment
We will work with you to deliver an efficient audit
Life
We organise ourselves so that we can best balance life and work
Training
We are committed to developing our team
Career
We want our team to progress and reach their maximum potential
Recent Articles
Late Filing of Audited Financial Statements: Why Filing Unaudited Accounts May Create Bigger Problems
Late Filing of Audited Financial Statements Missing a Companies House filing deadline is never ideal. Directors are understandably keen to avoid late filing penalties, particularly where the accounts are only days...
Valuing Share Options in Private Companies
Valuing Share Options in Private Companies: Methods and Audit Considerations Introduction Many private companies use share option schemes to attract, motivate and retain key employees. Whether the scheme involves EMI options,...
Charity Audit Management Letters: How Trustees Should Respond to Findings
The signed audit report is the public outcome of a charity audit, but it is not always the document that drives the most operational improvement. Auditors often issue a separate management...
What Documents Are Needed for a Charity Audit?
One of the first questions asked by a charity preparing for an audit is what documents the auditor will need. The simple answer is that the evidence must support the figures,...
How to Prepare for a Charity Audit: A 12-Week Timeline
Preparing for a charity audit is easier when it is treated as a project with owners, milestones and review time. The work should not begin when the auditor sends the first...
Charity Audit Guide & Checklist for UK Charities
Charity audits sit at the meeting point between financial reporting, governance and public trust. For trustees, chief executives and finance teams, the process is not simply an annual inspection of the...
Revenue Recognition for Small Charities: What the New Charity SORP Means in Practice
Revenue Recognition for Small Charities: For many small charities, income recognition has traditionally been one of the most challenging areas of financial reporting. Trustees often need to determine whether grants, donations,...
FRS 102 Revenue Recognition Changes: What Businesses Need to Know
FRS 102 Revenue Recognition Changes: Executive Summary The amendments to FRS 102 effective for accounting periods beginning on or after 1 January 2026 represent one of the most significant changes to...
White Paper: The New Era of Charity Accounting and Reporting
Understanding SORP 2026 and the New Charity Accounting Thresholds – The New Era of Charity Accounting and Reporting Executive Summary The UK charity sector is experiencing the most significant change to...
The Benefits of Working with Local Audit Experts
Choosing a local audit partner can make a huge difference to how straightforward and supportive your audit feels. Millet Audit is proud to work with companies across Romford and East London, offering a personal service that larger, remote firms simply can’t match. Because we’re nearby, you can expect prompt replies, quick site visits, and face-to-face meetings when needed — all of which make the audit process more human and less stressful.
Over the years, we’ve worked with businesses across many sectors, including property, trades, retail, and professional services. Each client benefits from our tailored, practical approach. We don’t rely on standard checklists — we take the time to understand how your company operates, so our audits highlight genuine risks and provide realistic solutions. Our deep knowledge of Romford’s local business scene and the wider East London economy means we know what you’re up against, from market pressures to regulatory updates. When you work with us, you’re choosing an audit partner who truly gets your business.
Why Choose Millet Audit for Your Statutory Audit
Businesses in Romford trust Millet Audit because we combine professional standards with a friendly, local approach that feels personal and supportive. We’re more than just your auditors — we’re here to help you run your business with clarity and confidence. From your first statutory audit to ongoing annual reviews, we’ll be right there alongside you, explaining our findings, answering your questions, and offering helpful advice you can act on.
We know that running a business in Romford — and the wider East London area — comes with its own unique challenges and opportunities. That’s why our service is always tailored to your specific circumstances. Whether you’re a fast-growing firm crossing the audit threshold for the first time or an established company looking for a more approachable audit partner, we’re ready to help. Get in touch with Millet Audit today and discover how our statutory audit services can help keep your business compliant, transparent, and ready for the future. Contact us to find out more.
Frequently Asked Questions
What is a statutory audit and who needs one?
A statutory audit is a legally required review of a company’s financial statements to ensure accuracy and compliance with UK accounting standards. Not every business needs one, but companies that exceed two of the following three thresholds usually do: a turnover of more than £10.2 million, assets over £5.1 million, or more than 50 employees. Even if you’re unsure whether your company meets these requirements, it’s always best to get professional advice. At Millet Audit, we help businesses in Shoreditch understand their audit obligations and stay compliant with confidence.
How long does a statutory audit take to complete?
The duration of a statutory audit can vary depending on the size and complexity of your business, the quality of your financial records, and how prepared you are. Typically, a standard audit can take anywhere from two to six weeks, from initial planning through to the final report. At Millet Audit, we pride ourselves on delivering audits efficiently without sacrificing quality. Our team works closely with you to minimise disruption and keep everything on track. We’ll agree on a realistic timeline at the outset so you always know what to expect at each stage.
What documents will I need to provide for a statutory audit?
To complete your statutory audit, we’ll need access to a range of documents, including your balance sheet, profit and loss account, general ledger, bank statements, payroll records, invoices, contracts, and any supporting notes or calculations. We may also request information on internal processes and financial controls. Don’t worry if that sounds overwhelming – our team will provide a clear list of what’s needed and guide you through the process. At Millet Audit, we believe audits should be as straightforward as possible, and we’re always available to answer questions or help you gather the required information.
Can a statutory audit help improve my business?
Yes, a statutory audit can be a valuable opportunity to gain deeper insight into how your business is performing. Beyond ensuring compliance, audits can highlight areas where financial processes could be tightened, reveal hidden risks, or suggest ways to improve efficiency. Many of our clients in Shoreditch use the findings from our audits to make informed strategic decisions. At Millet Audit, we don’t just deliver a report – we provide practical feedback and tailored recommendations that can help your business grow stronger and more financially secure in the long term.
