Statutory Audits In Shoreditch

Millet Audit are a leading accountancy company, specialising in financial and statutory audits.

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Does your Shoreditch business need a statutory audit?

Shoreditch is known for its creative industries, startups, and innovative tech firms, and the audit requirements that come with growth in these sectors are not always obvious. 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.

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Professional Audit Services from Millet Audit

At Millet Audit, we provide trusted statutory audit services for businesses based in Shoreditch and across East London. Our firm works closely with companies of all sizes to deliver efficient, accurate, and compliant audits that meet all legal obligations under UK law. Shoreditch is known for its creative industries, startups, and innovative tech firms – and our services are tailored to meet the unique needs of this vibrant business community. Whether you run a growing design agency or a well-established software company, our audit services are designed to support your success.

We understand that a statutory audit isn’t just about compliance – it’s also about strengthening trust with stakeholders and improving internal processes. Our team takes the time to understand your business inside and out, identifying opportunities to enhance your financial systems while meeting all regulatory requirements. From our offices near East London, we’ve built a strong reputation for being approachable, thorough, and dependable. With Millet Audit, Shoreditch businesses get more than just a standard audit – they get professional insight and personalised support.

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Understanding Statutory Audit Requirements in the UK

UK businesses that meet certain size criteria are required by law to undergo a statutory audit. This requirement is based on factors such as turnover, assets, and the number of employees. If your Shoreditch business exceeds two of the following thresholds – more than £10.2 million in turnover, over £5.1 million in assets, or 50+ employees – then you must have your accounts audited by a registered auditor. Even if you’re just approaching these limits, it’s wise to start preparing early.

At Millet Audit, we guide clients through the entire process, starting with a clear explanation of their legal responsibilities. Many business owners in Shoreditch are focused on growth and creativity, which is why we offer practical, jargon-free support to keep your finances in check. Our auditors make sure you’re fully compliant with the Companies Act 2006 and current auditing standards, while also offering guidance on best practices. If you’re unsure whether your company needs an audit, we’re always happy to advise with a free initial consultation.

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REVIEWS

Commendations from just some of our clients

CASS Assurance – Millet Audit Accounting has helped with our client account audit recently and the service has been exceptional, good value for money and I have found them to be professional …

Charles Lyndon Solicitors

Grant Assurance – Andrew was very responsive, as the accountant report requested needed to be completed on a relatively tight timeline. He was quick to come back with any relevant queries and very pleasant to work with. I highly recommend working with Andrew for independent accountant reports!

Renuka Ramanujam

Charity Audit – I do recommend Millet Audit, it was especially good experience working with Andrew, who was very professional and responsive. A trustworthy auditor to rely on.

C Yang

Independent Examination – Millet Audit Accountant helped us enormously at short notice and we are extremally grateful to have been introduced to them. We are looking forward to continuing to build a long lasting professional relationship.

S Kalik

Compliance – I highly recommend the accounting services from Millet Audit. The team was thorough, organised, and helped streamline my financial records. Their expertise ensured compliance and provided valuable insights for better financial management. A fantastic, reliable and efficient service.

J Stere

Recently moved to Millet Audit and the service has been great. They made our recent accounts a very smooth and easy process. Would definitely recommend.

Dorothea A

Financial Audits – Delivering Accuracy and Assurance

Financial audits are at the heart of what we do, and our goal is always to deliver clear, accurate results you can rely on. When we conduct your financial audit, we carefully examine your company’s income, spending, assets, and liabilities to ensure everything has been properly recorded and disclosed. For businesses in Shoreditch, this is essential not just for legal compliance, but also for building investor confidence and maintaining a professional image.

Millet Audit carries out each audit with attention to detail and a genuine interest in your business’s health. We know how fast-paced Shoreditch’s business landscape can be, and that’s why we tailor our approach to suit your operations. Whether you’re operating in tech, media, design, or retail, we take the time to understand how your business works so we can audit it thoroughly and efficiently. After completing the audit, we’ll talk you through our findings, highlight areas of improvement, and provide clear, practical recommendations. With our help, your financial reporting can be a powerful tool for growth and accountability.

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REVIEWS

Commendations from just some of our clients

CASS Assurance – Millet Audit Accounting has helped with our client account audit recently and the service has been exceptional, good value for money and I have found them to be professional …

Charles Lyndon Solicitors

Grant Assurance – Andrew was very responsive, as the accountant report requested needed to be completed on a relatively tight timeline. He was quick to come back with any relevant queries and very pleasant to work with. I highly recommend working with Andrew for independent accountant reports!

Renuka Ramanujam

Charity Audit – I do recommend Millet Audit, it was especially good experience working with Andrew, who was very professional and responsive. A trustworthy auditor to rely on.

C Yang

Independent Examination – Millet Audit Accountant helped us enormously at short notice and we are extremally grateful to have been introduced to them. We are looking forward to continuing to build a long lasting professional relationship.

S Kalik

Compliance – I highly recommend the accounting services from Millet Audit. The team was thorough, organised, and helped streamline my financial records. Their expertise ensured compliance and provided valuable insights for better financial management. A fantastic, reliable and efficient service.

J Stere

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The Benefits of Working with Local Audit Experts

Having a local audit partner brings numerous advantages, especially in a dynamic and fast-moving area like Shoreditch. Millet Audit is proud to be part of East London’s professional network, offering responsive and convenient support to businesses right on our doorstep. Being nearby means we can easily attend meetings in person, offer quick support when needed, and provide a more hands-on service than remote or national firms.

We’ve worked with a wide variety of Shoreditch businesses, from innovative startups to well-established agencies and limited companies. Each client benefits from a tailored service, where the audit process is adapted to suit the nature and structure of their operations. We don’t rely on rigid templates – instead, we listen carefully, ask the right questions, and apply our technical expertise in a way that genuinely helps. Our local knowledge also means we understand the types of challenges and opportunities businesses in Shoreditch face. That insight allows us to deliver an audit service that is not only legally sound but commercially relevant.

A Reliable and Efficient Audit Process

At Millet Audit, our audit process is designed to be smooth, straightforward, and stress-free. We begin with an initial planning phase where we discuss the timeline, request access to financial records, and explain what we’ll be looking for. Once the audit begins, our team works diligently to assess the accuracy of your accounts, identify any irregularities, and ensure everything complies with UK financial reporting standards.

We make it a priority to minimise disruption to your business during the audit. Our team uses modern software and proven methods to work quickly and efficiently, without compromising on quality. We liaise with your finance staff throughout, keeping you updated on our progress and answering any queries along the way. After completing the audit, we’ll provide a detailed report that clearly outlines our findings and any suggestions we may have. Whether it’s your first statutory audit or one of many, you can count on Millet Audit to make the process simple and professional from start to finish. 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.

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.

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.

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.