Limited Company Accounts

Harrison Hinchliffe & Co are experts in Limited company accounts preparation. It is essential that your accounts are prepared under the appropriate accounting standards, converted into iXbrl format so that HMRC can read it and they are correct so you are not overpaying corporation tax. If you would like your accounts to be prepared by a professional company then look no further.

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As accounts are standard legal documents, we make sure they are well kept and maintained in order with UK Accounting Standards.

We approach your accounts preparation with a step by step approach making sure that nothing is left out and ensuring that we get the best value available for your business during the trading year. We have many clients in the Glossop and Manchester area and we consistently provide the best accounts preparation solutions.

Action	Deadline
File annual accounts with Companies House	9 months after your company’s financial year ends
Pay Corporation Tax	9 months and 1 day after your company’s financial year ends
File a Company Tax Return	12 months after your company’s financial year ends

These deadlines are for private limited companies.

Prepare Annual Accounts

Your company’s annual accounts – called ‘statutory accounts’ – are prepared from the company’s financial records at the end of your company’s financial year.

You must always send copies of the statutory accounts to:

all shareholders
people who can go to the company’s general meetings
HM Revenue and Customs (HMRC) as part of your Company Tax Return
Companies House (unless you send ‘abbreviated’ accounts – see below)

How We Put Together Your Statutory Accounts

Statutory accounts must include:

a ‘balance sheet’, which shows the value of everything the company owns and is owed on the last day of the financial year
a ‘profit and loss account’, which shows the company’s sales, running costs and the profit or loss it has made over the financial year
notes about the accounts
a director’s report

Accounting standards

Your statutory accounts must meet either:

International Financial Reporting Standards
New UK Generally Accepted Accounting Practice (UK GAAP)

Small Companies, Micro Entities & Dormant Companies

Your company will be ‘small’ if it has any 2 of the following:

a turnover of £15 million or less
£7.5 million or less on its balance sheet
50 employees or less

If your company is small, you can:

use the exemption so your company’s accounts do not need to be audited
choose whether or not to send a copy of the director’s report and profit and loss account to Companies House
send abridged accounts to Companies House

Sending Abridged Accounts

You can currently send abridged accounts if all your company members agree to it.

Abridged accounts must contain a simpler balance sheet, along with any notes. You can also choose to include a simpler profit and loss account and a copy of the director’s report.

The balance sheet must have the name of a director printed on it and must be signed by a director.

Sending abridged accounts means less information about your company will be publicly available from Companies House.

Under the Economic Crime and Corporate Transparency Act 2023, subject to implementation via secondary legislation, small companies will no longer have the option to prepare and file abridged accounts. Small companies will also be required to file both their profit and loss account and directors’ report, thereby removing the option of filing ‘filleted’ accounts. The UK government has indicated these changes will take effect from 1 April 2027.

Micro Entities

Micro-entities are very small companies. Your company will be a micro-entity if it has any 2 of the following:

a turnover of £1 million or less
£500,000 or less on its balance sheet
10 employees or less

If your company is a micro-entity, you can:

prepare simpler accounts that meet statutory minimum requirements
send only your balance sheet with less information to Companies House
benefit from the same exemptions available to small companies

Our Solutions

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Whatsapp 01457 860 969 info@hhandco.org

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