Annual Accounts FAQs

What are annual accounts?

Annual Accounts are your company's financial records at the end of your company's financial year. The first accounts are due for submission to Companies House and HMRC within 21 months after your company's incorporation, and then 9 months after the accounting reference date (ARD). Dormant (non-trading) companies must file dormant company accounts instead.

How can I find out when my annual accounts are due?

You will be sent email and letter reminders from Companies House when your accounts are due. You can also check the due date via your account (login required). Simply click "My Companies", click on your company name to where you will reach the "Company Details" section where you will see the due.

Who should I file the accounts to?

Accounts are filed to Companies House. You must also send copies of the statutory accounts to:

  • HM Revenue and Customs (HMRC) as part of your Company Tax Return
  • all shareholders
  • people who can go to the company’s general meetings

What should I include in my accounts?

Statutory accounts must include:

  • a ‘balance sheet’, which shows the value of everything the company owns, owes and is owed on the last day of the financial year
  • a ‘profit and loss account’, which shows the company’s sales, running costs and the profit or loss it has made over the financial year
  • notes about the accounts
  • a director’s report

You might have to include an auditor’s report - this depends on the size of your company.

The balance sheet must have the name of a director printed on it and must be signed by a director.

Do you offer a service to file my company annual accounts?

Unfortunately, no. Company Formation MadeSimple does not offer an annual account service for active (trading) companies. However, you can file your annual accounts with Companies House.

My company is dormant. Do you offer a service to file my dormant company accounts?

Yes, we can file dormant company accounts for limited companies who are currently not trading. We will complete the necessary information and file the accounts at Companies House on your behalf.

Can I purchase a Confirmation Statement and Annual Accounts together?

If your company is dormant and has never traded from incorporation, we do offer a special bundle which will allow us to deal with both of your filing obligations with Companies House for the year to take the weight off your mind. Click here if you would like to purchase (or find out more about) this bundle.

Please note: If you have traded with your company at all, we cannot assist with your annual accounts.

I just received a notice that my accounts are overdue. What should I do?

Companies House will impose penalty fines due to late filings of the accounts -

Lateness:

  • Not more than one month £150
  • More than one month but not more than three months £375
  • More than three months but not more than six months £750
  • More than six months £1500

 If company accounts are overdue the only ways to avoid the penalty are:

  • Dissolve the company instead of filing accounts
  • File the accounts or dormant accounts and then appeal against the penalty (appeals may not be successful)

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