Annual Accounts

Annual accounts are often needed for statutory purposes or for the needs of financial institutions in order to approve finance or mortgages.  The accounts are produced each year in a form that will be accepted by companies house. They will need to be prepared in order to produce the profit figure for any company partnership (whether incorporated or not) or a sole trader.

Our annual accounts are prepared using the Vistopia software package which produces accounts that will be accepted by Companies House as statutory accounts. They can be prepared from the source paper documents such as bank accounts, expense receipts and sales invoices or from electronic information such as excel spreadsheets showing all the relevant transactions for the year as well as some information post the accounting year end. 

In a private limited company (i.e. a LTD company) the annual accounts need to be submitted to companies house within nine months of the end of the accounting period for the company, so for example if the year end is the 31st of January the accounts need to be sumitted to companies house by the end of October. In a public company (i.e. a PLC company) the annual accounts need to be submitted to companies house within six months of the end of the accounting period for the company, so for example if the year end is the 31st of January the accounts need to be sent to companies house by the end of July. Fines are imposed if these deadline are missed which can be seen below, and are significantly higher for public companies. 

Please contact us if you require any of our services.

 

Length of delay (measured from
the date the accounts are due)
Penalty :
Private company
Penalty :
Public company

Not more than 1 month

£150 £750
More than 1 month but not more than 3 months £375 £1,500
More than 3 months but not more than 6 months £750 £3,000
More than 6 months £1,500 £7,500

Further information can be found at the companies house website at the following address.

http://www.companieshouse.gov.uk