The Law On Company Accounts

Year End Accounts Filing Dateline

All limited companies are required by law to prepare and file their annual accounts to Companies House nine months for private limited company (Ltd) and 6 months after the accounting year end for public limited company (Plc) for accounting year end beginning or after 6 April 2008.

Preparing Company Accounts

The Companies Act 2006 requires companies to prepare financial statements which give a true and fair view. To achieve that, the financial statements must be prepared in accordance to applicable accounting standards. Furthermore, large companies are required to state in their financial .statements whether the financial statements have been prepared in accordance with accounting standards and to give particulars any of material departures from them and the reasons for the departures.

Departure From Accounting Standards

For companies which are not eligible to claim exemption from audit, the auditors will assess whether there are sound reasons for any of the departure from applicable accounting standards and assess whether adequate disclosure has been made re the departure in the accounts and also assess whether the departure is such that the financial statements do not give a true.

Auditors' Report

Normally, a departure from an accounting standard will result in the issue of a qualified audit report or audit report with adverse opinion.

Professional Help

Concise Accountancy provides statutory accounts preparations services for limited companies in a statutory format according to Companies Act 2006. Feel free to contact us or email us at info@conciseaccountancy.com should you require professional help, our accountants will provide you with the complete accounting solutions package to take care of your legal obligations trading as limited company.

Concise Accountancy – complete business solutions for limited companies