Neat Info About Statutory Accounts Meaning
Statutory accounts are an important part of running your business so that your shareholders see how your company is performing and they keep your records updated with companies house.
Statutory accounts meaning. Statutory accounts are financial statements that companies are legally required to prepare and file with companies house and hm revenue & customs (hmrc) every year. There are more than four million. Statutory accounts, also known as annual accounts or financial statements, are formal documents that summarize a company’s financial transactions and present its financial performance over a specific accounting period.
They’re a legal requirement, and give you an overview of business performance. You must always send copies. In the uk, all private limited companies are required to prepare statutory accounts.
These accounts are prepared in accordance with the relevant accounting standards and legal requirements. What is included in statutory accounts. Statutory accounts are a key part of a company’s financial year.
Different types of statutory accounts criteria for small companies different types of statutory accounts when do i need to file? What are statutory accounts? In our expert guide, ‘how to file annual accounts’, we will provide essential information about statutory accounts, including: