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The death of abbreviated accounts?


By: Philip Bartram Date: 7 January 2016
Category: Alert

Along with the vast majority of owner-managed companies, the chances are that you currently file abbreviated accounts with Companies House. It has been our normal practice for decades as it limits the amount of information that is placed on public record.

This is all about to change, and the years of disclosing just the balance sheet and a few simple notes will soon be over.

If your accounting period started on or after 1 January 2016 you will no longer be able to file abbreviated accounts. Instead you will have a choice of filing options. For example:

1) You could take your full statutory accounts, remove the Directors report, profit and loss account and then file.
2) If all shareholders agree you can file an abridged profit and loss and/or balance sheet.
3) Some very small companies (micro entities) will be able to file micro entity accounts with Companies House.

We will be raising the subject with you over the coming months, but if you have any questions please give us a call.
 
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