Prepare annual accounts for a private limited company
Micro-entities, small and dormant companies
You might be able to send simpler (바카라 사이트˜abridged바카라 사이트™) accounts to Companies House and not need to be audited. This depends on whether your company is dormant or qualifies as a small company or 바카라 사이트˜micro-entity바카라 사이트™.
You must still send statutory accounts to your members and to HM Revenue and Customs (HMRC) as part of your Company Tax Return if you바카라 사이트™re a small company or micro-entity.
Dormant companies
Your company is called 바카라 사이트˜dormant바카라 사이트™ by Companies House if it바카라 사이트™s had no 바카라 사이트˜significant바카라 사이트™ transactions in the financial year that you바카라 사이트™d normally report. Significant transactions do not include:
- filing fees paid to Companies House
- penalties for late filing of accounts
- money paid for shares when the company was incorporated
Dormant companies that qualify as 바카라 사이트˜small바카라 사이트™ do not need to be audited.
Check if your company is also dormant for Corporation Tax.
Small companies
Your company will be 바카라 사이트˜small바카라 사이트™ 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 company바카라 사이트™s accounts do not need to be audited
- choose whether or not to send a copy of the director바카라 사이트™s report and profit and loss account to Companies House
- send abridged accounts to Companies House
Sending abridged accounts
You can only 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 director바카라 사이트™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.
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
Find out exactly what to include in your accounts depending on your company type, for example micro-entity, small, medium or dormant.