Annual accounts
What are Company / Statutory Accounts
All companies whether trading or not, must prepare annually, the Company’s Accounts (also known as ‘Statutory Accounts’). Their aim is to breakdown and report the financial position and performance of a Limited Company in that year.
These are prepared after the end of your company’s financial year and must be submitted to:
Companies House
HMRC
All Shareholders
What’s included in Company Accounts
Accounts are prepared differently depending on the size of the company, for example:
There are 5 different types of Limited Companies in the UK:
- Micro-Entity
- Small Company
- Medium-Size Company
- Large Company
- Dormant Company
Statutory accounts are not intended to include every last bit of detail that happens in the business, but provide a good overview of the business activity to help any stakeholder make useful decisions.
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