The main types of company filing and reporting requirements are: Annual accounts; Confirmation statement; Corporation tax return (CT600) VAT returns; Employer (PAYE) returns ; Event-based filings to Companies House; Late failing or failure of file can have serious consequences. See our guidance on the temporary changes to Companies House filing requirements. Removed any references to SEs, EEIGs, EC Directives. If your company was incorporated on 6 April 2016 its first accounting reference date would be 30 April 2017 and 30 April for every following year. A financial year is usually a 12 month period for which you prepare accounts. If you are a limited company which is a member of a qualifying partnership, you must attach the partnership accounts to the next accounts which you deliver to Companies House. If the partnership agreement does not specify a period, the members, must draw up the accounts for each 12 month period ending on 31 March in each year. All the directors of the company risk prosecution. Documents filed through online filing are formatted in accordance with specifications set out in the registrar’s rules and powers. Companies House does not verify the accuracy of the information filed (link opens a new window) Sign in / Register. Every company must prepare accounts that report on the performance and activities of the company during the financial year. Edinburgh For an existing company, your financial year starts on the day after the previous financial year ended. See Companies House fees. Software suppliers offering electronic filing facilities must also ensure that documents submitted from their software are formatted in accordance with the registrar’s rules and powers. Failing to do so is a criminal offence. This means that a company will decide at the point they are preparing their accounts whether or not to abridge them (or to prepare micro entity accounts). To take up this exemption you will need to deliver, before the date on which your accounts are due, the following documents to Companies House: A subsidiary is not entitled to the exemption if it was at any time within the relevant financial year: The statement must include the following information: The statement must also include details of the section of the Companies Act 2006 under which the guarantee is being given: The guarantee has the effect that the parent undertaking guarantees all outstanding liabilities that the subsidiary is subject to at the end of the financial year. Companies with financial years beginning on or after 1 January 2016 may claim audit exemption if they meet the same criteria as other UK companies. The text should be black, clear, legible, and of uniform density. If (in the case of an unquoted company) the circumstances are not set out in the statement, the auditor must deposit a statement with the company to that effect. Instead, the notes to the balance sheet filed must disclose certain details about the audit. For more information and registration There are 3 size classifications of company to consider when preparing your accounts: small, medium or large. The requirement to file annual documents applies to all companies, including small companies such as flat management companies. Also a medium-sized company which is part of an ineligible group can still take advantage of the exemption from disclosing non-financial key performance indicators in the business review (or strategic report). The Companies, Partnerships & Groups (Accounts & Reports) Regulations 2015 introduced a number of changes to accounts filing requirements. Do not send a copy of the resolution to Companies House. It must be made up to the same date as the accounts. When determining whether a company is dormant, you can disregard the following transactions: How to file your dormant accounts online. As a charity you can get certain tax reliefs. It covers the rules governing filing of accounts of UK registered companies. Charitable companies cannot currently file full audited accounts on the Companies House WebFiling service. Deadline for filing annual accounts with Companies House is nine months after company’s financial year ends. Updated exemptions from audit as a small company. They will qualify for audit exemption under company law in the same way as any other company. You must send Companies House a copy of the accounts you have already prepared for your members or shareholders. Such a report does not have to contain a business review (or strategic report) or a statement as to the amount that the directors recommend be paid by way of dividend. For large companies, both sets of accounts are identical. The filing obligations of companies subject to the small companies’ regime are contained in section 444 of the Companies Act 2006. the guidance details the options for micro entities with respect to filing unaudited accounts with Companies House. Unless you are filing your company’s first accounts, the time normally allowed for delivering accounts to Companies House is: Please be aware of the definition of a period of months in connection with filing accounts. They must also date the signature. Companies House Tell us what you think of Companies House. The members of a qualifying partnership must make their accounts available for inspection by any person, without charge, during business hours at the head office of the partnership (together with a certified translation, if the original is not in English). WC2A 3EE. On 1 July 2020, Companies House announced the automatic extension of Company accounts filing deadline to give more time to businesses to prepare and submit their accounts during this Coronavirus (COVID-19) outbreak. When a customer searches the company record, they see the electronic image reproduced online. But if it’s a Scottish limited partnership, the requirement only extends to the general partners. A significant accounting transaction is one which the company should enter in its accounting records. 1. For financial years beginning before 1 January 2016, the thresholds to claim audit exemption for a small Northern Ireland charitable company remain: Alternatively, for financial years beginning before 1 January 2016, a charity may be partially exempt from the requirement for an audit if there is a suitable accountants report to the accounts and the company meets both the following conditions in respect of a financial year: Northern Ireland charities that want to claim audit exemption for financial years before 1 January 2016 must show the following statements on their balance sheet above the director’s signature: Small company/abbreviated accounts must also make the following statement on the balance sheet above the director’s signature: “These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.”. Companies may also send voluntary certified translations. ICAEW’s Financial Reporting Faculty has published this helpful document answering … If you prepare accounts in a language other than English, you must also send with them a certified translation into English. You must also supply to any person upon request, the name of each member required to deliver copies of the partnership accounts to Companies House. PO Box 4082 If in doubt, you should consider seeking professional advice. See guidance from The Charity Commission. All private limited and public companies must file their accounts at Companies House. To help us get your documents to the correct team and avoid processing delays, you could include a covering letter to explain: A dormant subsidiary cannot claim exemption if at any time in the financial year it was a: The Partnerships (Accounts) Regulations 2008 require the members of a ‘qualifying partnership’ to prepare accounts, which those members that are limited companies must attach to their own accounts for filing with Companies House. You can also claim exemption from audit as a subsidiary company. For accounting periods beginning on or after 01/01/2016 to qualify as small, a group of companies must meet at least 2 of the following conditions: For accounting periods beginning before 01/01/2016 the thresholds were: Generally, small company accounts prepared for members include: The balance sheet must contain a statement that “The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime”. All limited companies, whether they trade or not, must deliver accounts to Companies House. Example For private companies, the directors appoint the first auditor of the company. If you require any further technical advice regarding the content of the accounts then you will need to seek independent advice. It’s taking much longer than usual to process paper documents sent to us by post. Example A private company with an accounting reference date of 4 April has until midnight on 4 January of the following year to deliver its accounts (not 31 January). There are penalties for filing your report late, ranging from £150 for filing under a month late, to £1,500 for filing more than six months late. It can also choose to submit reduced information to Companies House. The filing requirements of a limited company include preparing annual accounts for Companies House every year. An acknowledgement of receipt does not mean that a document has been accepted for registration at Companies House. In 2013 the rules for SMEs filing accounts at Companies House were relaxed, allowing very small (micro) companies to file even less financial information than before. This applies to dormant companies as well. Medium-sized companies preparing Companies Act accounts may omit disclosure with respect to compliance with accounting standards and related party transactions from the accounts they send to their members. The purpose of accounts is to report the financial activity of your company at the end of its financial year. Financial reporting for NZ companies. The rules are different for public and private companies. There’s also an automatic civil penalty for submitting accounts late. Subject to the Auditing Practices Board ethical standards, the auditors’ statutory duties are limited to checking that there are adequate books and records, and to reporting on the annual accounts. The agreement is a written notice of consent that all members of the subsidiary company agree to the exemption for the financial year. Companies House is a registry and can not provide professional accountancy advice. All CICs must prepare and deliver a CIC report (CIC34) to Companies House. The appropriate supervisory body will be able to tell you whether a particular individual or firm has a current audit-practising certificate. We use cookies to collect information about how you use GOV.UK. Some flat management companies (that would otherwise qualify for exemption) may have to prepare audited accounts to comply with the terms of their lease. The definition of what constitutes a micro, small, medium-sized or large companies is found in Schedule 9 of the Companies Act. This provision does not apply if the auditor’s most recent appointment was by the directors or the company’s articles require annual appointment. This statement must be in a prominent position above the director’s signature and printed name. 1992/807 (NI 5). (Although public companies with an original filing deadline between 30 June and 29 September 2020 were initially granted an extension under the Act, this was superseded by the extension to nine months … If a company which qualified as small in one period no longer meets the criteria in the next period, it may continue to claim the exemptions available for the next period. If a company qualifies as a micro-entity, it also qualifies as a small company - and may also take advantage of these exemptions. for the year ending (dd/mm/yyyy) the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies. The demand for the audit of the accounts should be in the form of a notice to the company, deposited at the registered office at least one month before the end of the financial year in question. In general, they should include a profit and loss account and a balance sheet signed by a designated member of the LLP. Filing accounts for your dormant company . If you are delivering documents by post, courier, Document Exchange Service (DX) and would like a receipt, Companies House will provide an acknowledgement if you enclose a copy of your covering letter with a pre-paid addressed return envelope. A micro-entity may claim audit exemption as a small company. Unlimited companies only need to deliver accounts to Companies House if, at any time during the period covered by the accounts: A dormant subsidiary may be able to claim exemption from the preparation or filing of its accounts under certain circumstances. This means their accounts filing deadline is 31 December (9 months later). Whereas your annual accounts mostly comprise financial information, the confirmation statement– another annual filing requirement, but which is only filed at Companies House – relates to more general information about your company. Abbreviated Accounts Balance Sheet. Companies House filing requirements are compulsory and apply even if the company is dormant. It means that the parent company guarantees all the subsidiary’s outstanding liabilities at the end of the financial year. We’ll send you a link to a feedback form. When a company shortens its accounting period, the new filing deadline will be the longer of the following 2 options: You can apply to extend your filing deadline if an unplanned event stops you from filing your accounts. Generally, every paper document sent to Companies House must state in a prominent position the registered name and number of the company. Accounts must be filed with Companies House. The auditor’s report must be either unqualified or qualified and include a reference to any matters to which the auditors wish to draw attention by way of emphasis without qualifying the report. Private companies must keep accounting records for 3 years from the date they were made. Advice on filing requirements and tips on how to make sure you file on time. For all new companies, their first accounting reference date will be the last day of the month in which the anniversary of their incorporation falls. Charitable companies may also be subject to separate requirements for audit or other scrutiny of their accounts under charity law. You can pay by MasterCard, Visa, Electron, Maestro or Delta debit or credit card. There are lots of benefits to filing your full accounts online. You cannot extend a period so that it lasts more than 18 months from the start date of the accounting period (unless the company is in administration). This revised version of the guidance covers these changes and streamlines the guidance by removing information that is outdated or no longer relevant. Previously a company would prepare full accounts for its members and would then decide whether or not to abbreviate them for the public record. If filing your accounts on paper, you must get your accounts to us well before the filing deadline - you will not be given any extra time if they are rejected. No members have required the company to obtain an audit of its accounts for the year in question in accordance with Article 257B(2). The package consists of 3 documents: You must deliver all 3 documents to Companies House before the subsidiary’s accounts due date. This replaces the previous thresholds for Northern Ireland charitable companies for financial years beginning on or after 1 January 2016. A big change for many users during the peak filing period at the end of September was the end of abbreviated accounts. Not all members of a recognised supervisory body are eligible to act as an auditor. 9. If you think your company qualifies as small, you may wish to consult a professional accountant before you prepare accounts in accordance with the provisions applicable to companies subject to the small companies’ regime. CF14 3WE. How to update shareholder information at Companies House Company filing and reporting requirements for Companies House 1. For more information, contact [email protected] or telephone 029 2034 6228. The records must be open to inspection by the company’s officers at all times. the registered name and number of the subsidiary, the subsidiary’s financial year to which the guarantee relates, the name of the parent undertaking and its registered number, section 394c - exemption from preparing accounts for a dormant subsidiary, section 448c - exemption from filing accounts for a dormant subsidiary, section 479c - audit exemption for a subsidiary undertaking. When you file a document electronically, we automatically create an electronic image from the data you have provided. Every company must keep accounting records - whether they are trading, or not. Visit GOV.UK for information on: when to file your accounts; getting more time to file your accounts; corrections and amendments; Charities and tax. If you do not comply, there could be serious consequences. See the guidance on dormant subsidiary exemption. The Reports for the filing maintain a similar structure across all CIC sizes but it’s important to confirm the level of detail necessary at each level by checking the Companies House requirements. You’ve accepted all cookies. This publication is available at https://www.gov.uk/government/publications/life-of-a-company-annual-requirements/life-of-a-company-part-1-accounts. Once your new company has been successfully incorporated, you have a number of filing requirements for Companies House and HMRC to familiarise yourself with. These regulations have now granted companies whose filing deadlines fall on or between 27 June 2020 to 5 April 2021, an extension of 3 months to file their accounts. See our guidance on audit exemptions for further information. However, if a company which qualified as a micro-entity in one year no longer meets the criteria in the next year, it may continue to claim the exemptions available in the next year. The statutory accounts need to duplicated and shared with shareholders, HMRC, and the Companies House. The amount of the penalty depends on how late the accounts arrive and whether the company is private or public at the date of the balance sheet, as shown in the table below: See our guidance on late filing penalties. If you have any queries regarding financial services companies which are excluded from the small companies’ regime please contact the Financial Conduct Authority on their website. If a small company qualifies for audit exemption, it can submit unaudited accounts to Companies House. It’s the date that you deliver acceptable accounts which meet the relevant legal requirements to Companies House that is important - not the date that you sent the accounts. You’ll need a Companies House password and authentication code. Where the auditor is a firm, the senior statutory auditor must sign the original auditor’s report in their own name on behalf of the firm. The following guidance is provided to help you complete micro-entity accounts for filing with Companies House. The directors of every company must prepare accounts for each financial year. For eligible companies that can be classified as micro-entities, or small or medium-sized companies, it may be possible to prepare a less detailed set of year end accounts containing fewer elements, both for members and for filing on the public record. If you have prepared micro-entity or small company audit exempt accounts you may be able to file them using the Company accounts and tax online (CATO) service. This means now the companies will get a time period of 12 months after the end of their accounting year to file their annual accounts to the CoHo. You do not have to pay a fee for many of the documents that you have to send to Companies House, but some do require a fee and we will not accept them for registration without it. This should list the goods, the buyers and sellers, a profit and loss account (or income and expenditure account if the company is not trading for profit), a balance sheet signed by a director on behalf of the board and the printed name of that director, a directors’ report signed by a secretary or director and their printed name, including a business review (or strategic report) if the company does not qualify as small. Plan early If the registered office of the company is situated in Wales however you need only send the Welsh accounts if you so choose. For accounting periods beginning on or after 1 January 2016, a small company must meet at least 2 of the following conditions: For accounting periods beginning before 1 January 2016 the thresholds were: A company cannot prepare and submit small company accounts if it is, or was at any time during the financial year, one of the following: A group is ineligible if any of its members is: Companies which would otherwise qualify as small but which are members of ineligible groups can still take advantage of the exemption from including a business review (or strategic report) in the directors’ report prepared for members and from filing the directors’ report at Companies House. require that the company sends it to the company’s members, and to speak at the meeting where the resolution is to be considered. So, let me introduce to you, not the one and only Billy Shears, but filing full accounts on Companies House Service (CHS). The filing obligations of companies subject to the small companies’ regime are contained in section 444 of the Companies Act 2006. the guidance details the options for micro entities with respect to filing unaudited accounts with Companies House. Belfast If the auditor does not receive notification of an application to the court within 21 days of depositing the statement with the company, the auditor must send a copy of the statement to Companies House for the company’s public record within a further 7 days. The confirmation statement confirms that various information about the company on the public register is up to date and accurate, including: 1. You should send notice to: The Secretary of State If you require any further technical advice regarding the content of the accounts then you will need to seek independent advice. 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