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Annual accounts

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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