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Accounts


Accounts
  • Every limited company must submit accounts even if it has not traded.
The financial year
  • This is the period covered by the accounts.
  • For a new company, it starts on the date of incorporation, regardless of when the company actually starts doing business.
  • For a company which has previously delivered accounts, it starts from the day after the period covered by the earlier accounts.
Contents of the accounts
  • The accounts and reports prepared for the members of the company must include:
    - a directors’ report;
    - a profit and loss account;
    - a balance sheet.
Audit
  • The accounts must be audited.

 

 

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