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Year End Accounts

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Statutory year-end accounts

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Full year-end accounts, as opposed to abbreviated year-end accounts include the following

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- Director report
The document written by the company director, summarising the business performance over the year with company’s current position and how it will perform in the future.

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- Balance sheet
Details of the company assets and liabilities at the end of the accounting period.

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- Profit and loss

The profit&loss account gives a summary of income and expenses and gives the the total amount of profit or loss over the accounting period.

 

- Explanatory notes
Commentary and explanation on the details of the profit and loss account and balance sheet.

 

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The small company needs legally keep a number of ongoing accounting records.

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- Income and expenditure records

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- Unsold stock and uncompleted work at year-end

 

- Staff payroll information

 

- A register of fixed assets

 

- A record of company liabilities

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Limited company is legally required to file the statutory year-end accounts with both HMRC and Companies House.

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VAT returns, if the company registered for VAT  and

company Confirmation Statement.

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