If you are a private Limited Company, you need to prepare full statutory accounts; these are also known as annual accounts. In addition, you need to complete a company tax return.

Your accounts and tax return are submitted to Companies House and HMRC either together or separately. There are specific deadlines given for when you need to file your statutory accounts.

To view these, we suggest you look here – Accounts and tax returns for private limited companies. If you file late, you can incur penalties, so it's essential to be clear about the deadlines for your business.

What are statutory accounts?

Submitting your statutory accounts is a legal requirement, and therefore you must understand what is required by Companies House and HMRC.  In brief statutory accounts are annual financial records prepared as part of your tax return. They must include the following:

• A balance sheet
• A profit and loss account
• A cash flow statement
• A Directors and Auditors report

Small and micro-businesses are exempt from some of the requirements and can submit an abridged version; we can advise you on what is required for your business.

Why choose Watson Knipe?

We can save you time by preparing your statutory accounts, and more importantly, we ensure that they comply with all statutory obligations.

When preparing your statutory accounts, we use this as an opportunity to review the financial health of your business and work with you to help you achieve your business objectives. We help our clients understand their company financials and projections.

This is particularly important if you are planning changes in your business or planning growth. We can assess how profitable and stable your business is, and you can use the information to make informed decisions for the year ahead.

We work with businesses based in Derby, Nottingham, Leicester and across the UK. If you are interested in finding out more about our statutory accounts service, please contact us by calling 01623 490 120 or email This email address is being protected from spambots. You need JavaScript enabled to view it..