Limited Company Accounts

Clear, accurate financial statements — filed on time, explained in plain English.

Every UK limited company must file annual accounts with Companies House — no exceptions. This includes:

• Active trading companies of any size
• Dormant companies (simplified accounts, but still required)
• Community Interest Companies (CICs) — with additional reporting requirements

The level of detail required depends on your company’s size. Micro-entities can file a simplified balance sheet only, while small companies need more detailed accounts. Larger companies face full disclosure requirements.

You can file accounts yourself — but the jargon is dense, the rules around allowable expenses are complex, and mistakes can trigger penalties and delays. Most directors find it’s worth having an accountant handle this.

Limited company accounts (also called statutory accounts, annual accounts, or financial statements) are public documents registered with Companies House. They show your company’s financial standing at a point in time.

They typically include:

• Balance sheet — your assets, liabilities, and overall financial position
• Profit and loss statement — where your money comes from and goes to (for small companies and above)
• Directors’ report — strategic information useful for valuations, sales, or investor pitches

This information is publicly available. Investors, lenders, and credit agencies use it to assess your business before extending credit, investing, or working with you.

Note: “Annual accounts”, also called “Limited company accounts”, go to Companies House and are public. Your “corporation tax return” goes to HMRC and is private. They’re related but serve different purposes.

Your annual accounts must reach Companies House within 9 months of your financial year-end. Miss this deadline (even by a single day), and there are automatic fines:

• Up to 1 month late: £150
• 1 to 3 months late: £375
• 3 to 6 months late: £750
• More than 6 months late: £1,500

These penalties double if your accounts are late for two years running. Ongoing late filing can lead to prosecution and director disqualification.

When to contact your accountant for limited company accounts

At least two months before your deadline. Earlier, if your accountant also handles your bookkeeping. Last-minute requests often attract priority surcharges, and you’ll want time to resolve any queries.

• We gather your financial records — your bank statements, invoices, receipts, and bookkeeping information
• We prepare your accounts — balancing your books and producing the necessary statements
• We explain what your records show — in plain English, not financial jargon
• We file with Companies House — and confirm with you that everything’s been accepted
• We coordinate with your tax return — ensuring that your accounts and corporation tax filings match

If your records aren’t well organised, we’ll need to reconstruct them before preparing your accounts, which takes longer and costs more. Good bookkeeping throughout the year makes everything smoother (but we can help you with this, too).

Beyond the legal requirement, accurate accounts matter because:

• Corporate credit checks rely on this information — lenders and suppliers check Companies House before extending credit
• Investors can use them for due diligence — outdated or incomplete accounts can raise red flags
• They show where your business really stands — helping you make better decisions

Privacy consideration for sole directors

If you’re a sole director and shareholder, your accounts might make your personal income visible through the public company dividends and salary figures. For companies with multiple directors, individual income is less obvious. We can discuss how to protect your financial privacy based on your situation.