Annual Accounts

Financial statements that provide an overview of a company's financial performance and position over a specific period.

Who needs to complete annual accounts?

All Limited companies, regardless of their size or industry, are required to complete annual accounts. Annual accounts are important for tax purposes and provide valuable information to shareholders, investors, and other stakeholders.

What’s included in annual accounts?

Annual accounts typically consist of several key components, including the income statement, balance sheet, cash flow statement, and notes to the financial statements.

The income statement shows the company's revenues, expenses, and net income or loss for the period.

The balance sheet provides a snapshot of the company's assets, liabilities, and shareholders' equity at a specific point in time.

The cash flow statement details the company's cash inflows and outflows during the period.

Lastly, the notes to the financial statements provide additional information and explanations about the numbers presented in the financial statements.

Do i need to submit annual accounts to Companies House?

Yes, all Limited companies in the UK are required to submit their annual accounts to Companies House. The deadline for submitting the annual accounts is usually nine months after the end of the company's financial year. Failure to submit the annual accounts on time can result in penalties and may also affect the company's reputation.