Statutory Accounts

As a Director of a Limited Company, you are responsible for the preparation of the year end accounts, these are also known as the Statutory Accounts. Statutory Accounts are prepared in accordance with the Companies Act 2006 and Accounting Standards and Guidelines.

Statutory Accounts for Small Companies include:

  • Balance sheet signed by a Director.
  • Profit and loss account.
  • Notes to the accounts.
  • Directors Report.
  • Accountants report

Definition of a Small Company

A company is a Small Company if it meets 2 of these 3 conditions:

  • Turnover less than £6.5m.
  • Net Assets less than £3.26m.
  • Fewer than 50 employees

A Small Company may:

  • File Abbreviated Accounts to Companies which is a shorter version of the Statutory Accounts.

These can be filed by Companies House Webfiling.

Abbreviated accounts include less information about the Company, therefore there will be less information available to the public. These include the Balance Sheet signed by a Director and shorter notes.

  • Choose not to be audited.
  • Not file a copy of the Director’s Reports.
Statutory Accounts
Tax Returns

Filing of Company Tax Return (CT600) with HM Revenue and Customs and Statutory Accounts

The Statutory Accounts filed with HM Revenue and Customs must be the full Statutory Accounts. The period for the Company Tax Return (CT600) usually covers the same period and are filed together. These must be filed electronically.

ML Accounting can prepare the accounts in the correct format for your Limited Company and file them to Companies House and to HM Revenue and Customs

Other Services provided for a Limited Company

As a Director of a Limited Company ML Accounting may be able to assist with other areas within your Business. If you click on the links below for further information on:

Budget

Call Us Today 01494 670 855 to discuss your accounting requirements.

We offer a free initial consultation.