Slough Office: Herschel House,
58 Herschel Street, Slough SL1 1PG
London Office: 10 John Street,
London WC1N 2EB
Slough Office: Herschel House,
58 Herschel Street, Slough SL1 1PG
London Office: 10 John Street,
London WC1N 2EB
By far the most common form of trading vehicle in the UK is the private limited company (LTD). In return for the limited liability protection that the LTD provides for its shareholders, there are a number of public filing responsibilities together with potential audit requirements.
An LTD can choose its own accounting reference date and it must file at Companies House, publicly available statutory accounts, within 9 months of the end of each accounting period.
There are financial penalties for late filing:
Penalties are doubled where a company files its accounts late for a second year. Continued non-filing of the accounts can lead to prosecution of the directors and striking-off of the company, with forfeiture of the company’s assets.
The time limits for the first filing may be different.
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For financial years beginning on or after 6 April 2025, companies that exceed two of the following three thresholds require an audit:
These thresholds include all companies in the same corporate group, wherever they are in the world.
An audit is also required where the company, or another member of the group in which it is owned, is a public limited company or regulated by certain regulated bodies e.g. FCA, Solicitors Regulation Authority. An audit can also be forced at the decision of the members.
Groups of companies that do not qualify as “small groups”, because they exceed two of the three audit limits, must prepare and file consolidated accounts. These limits have to be met in both the current and the preceding year.
A Limited Company must file a confirmation statement annually. This confirms that all information on Companies House is up to date. Any changes must be submitted using the correct form.
Companies must file a public PSC register.
Companies must notify changes in directors, directors’ personal details, registered address changes, new shares issued, reductions in share capital, and changes to Articles of Association. Most filings can be completed online at www.companieshouse.co.uk. This website also provides further information about filing requirements.
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