Annual Accounts
Every UK limited company must file Annual Accounts (also called statutory accounts) with Companies House. These show your company's financial performance and position.
What Are Annual Accounts?
Annual Accounts are the financial statements your company must prepare each year. They're filed with Companies House and become part of the public record, anyone can view them.
The accounts show how your company performed financially during the accounting period and its financial position at the end of that period.
Balance Sheet
A snapshot of your company's financial position on a specific date.
- Assets (what you own)
- Liabilities (what you owe)
- Shareholders' equity
Profit & Loss
Shows your company's income and expenses over the accounting period.
- Revenue/turnover
- Cost of sales
- Operating expenses
- Net profit/loss
Notes to Accounts
Additional explanations and disclosures required by accounting standards.
- Accounting policies
- Fixed assets breakdown
- Directors' information
Which Category Is Your Company?
Your company size determines what you need to file. Most small UK companies qualify for simplified micro-entity accounts.
Good news: Most UK Ltd companies (especially director-only companies) qualify as micro-entities, meaning you only need to file a simplified balance sheet. No P&L statement is required to be made public.
Filing Deadline
You must file your Annual Accounts with Companies House within 9 months of your accounting reference date (your year-end).
First year exception: For your first accounting period, you have 21 months from incorporation to file.
Late Filing Penalties
Penalties double if you file late two years in a row.
Micro-Entity Accounts (Most Common)
If your company qualifies as a micro-entity (turnover under £632,000, assets under £316,000, 10 or fewer employees), you can file simplified accounts.
What You DO File
- Simplified balance sheet
- Limited notes (accounting policies only)
- Director's statement
What You DON'T Need
- ×Profit & Loss statement (kept private)
- ×Directors' report
- ×Detailed notes to accounts
- ×Auditor's report
How AccountsOS Prepares Your Accounts
We generate your statutory accounts automatically from your transaction data.
Related Resources
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