What are annual accounts?

Explained

First accounts are due 21 months after the company registered with Companies House; after that, accounts are due 9 months after the end of the financial year. The deadline is calculated to the exact day, and what counts is when Companies House receives the accounts, not when they were sent.

Accounts usually include a balance sheet, profit and loss account, notes and, except for micro companies, a directors’ report; a director signs the balance sheet. Small and micro companies can file simpler accounts, and small dormant companies can file dormant accounts.

Good to know

• Late accounts trigger an automatic late filing penalty, which doubles if accounts are late two years in a row.
• Directors living or travelling abroad may not be accepted as a reason for filing late.
• Dormant companies must still file annual accounts.