A bank statement is a document (paper or digital) that summarises all transactions in your bank account over a set period (usually one month).
It typically includes:
Bank details: name, address, and contact info
Your business details: company name, address, account number, sort code
Opening and closing balance for the period
Transaction list: each payment, receipt, or fee with date, description, amount, and updated balance
Why bank statements matter:
Track spending and cash flow
Make bookkeeping and tax prep easier
Provide proof of income and financial health for lenders (most request 3–6 months of statements)
Verify transactions or resolve discrepancies
Prove business address for HMRC, suppliers, or KYC checks