What has to be filed and to who?

Limited companies have to prepare formal accounts which are submitted to Companies House and then the company also needs to prepare a tax return which is sent to HMRC.

There are different types of accounts that are filed to Companies House – each type is purely dependent on the size of your company.

Micro Accounts

The accounts for small businesses are called Micro105 accounts which essentially provide a snapshot of your business only (a balance sheet).

Small Accounts

If your business is a little bigger and meets at least two of the below conditions, the company must file some slightly bigger accounts called FRS102a accounts which have a few more disclosures. The conditions are as follows:

  • Sales of £632,000 or more.
  • £316,000 or more on the company’s balance sheet.
  • 10 or more employees.

Once your company gets to above £10.2m in sales, a balance sheet has £5.1m or more than 50 employees, there are further rules which we would need to explore with you.

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