How To File Accounts With Companies House

Running a company is an exciting venture, but also one that comes with responsibility! As a registered company, you’ll have a number of obligations under the law. 

One of these is filing accounts with Companies House. 

Companies in the UK need to file accounts with Companies House every year. Here’s what you need to know. 

What Are Company Accounts?

Company accounts refer to the documents showing a company’s performance over a certain period of time. Usually, these documents are gathered towards the end of a financial year and submitted to Companies House. 

This obligation applies even where the company isn’t trading or it’s dormant (we’ll cover this in more detail later). 

Companies House Accounts Filing Requirements

Generally, you’ll need to file the following documents:

• A profit and loss statement
• A balance sheet
• A director’s report

These documents will show Companies House the costs of running your company, as well as the profits or losses you’ve made over the year. 

It also provides useful information around the health or state of your finances, as well as whether you have the capacity to expand in the near future. 

It also allows Companies House to assess whether your company is compliant with the relevant financial regulations. 

If you’re classified as a small company, you won’t need to complete a director’s report or a profit and loss account. In other words, you can choose to disclose limited information in accordance with the Companies Act 2006. 

How To File Accounts

You can file your company accounts online. But first, you need to register. 

From here, you can choose to file your accounts yourself or you can contact an accountant to do it for you. 

It’s worth noting that if you do rely on an accountant or another party to file your accounts for you, it is still your responsibility as director of the company to ensure they are filed on time. 

When Should I File Accounts With Companies House?

If you only just incorporated your company, your deadline for filing accounts with Companies House should fall on the anniversary of the last day in the month that your company was incorporated. 

For existing companies, however, it will be the anniversary of the day after the last financial year concluded. 

If you’re unsure, you can use this tool to find your company’s details, which includes the due date for your accounts. 

Can I Get An Extension To File Accounts?

You can apply to extend your deadline to file accounts. To do so, you need to submit an application. 

In the application, you’ll need to explain the circumstances and the reasons for which you cannot file accounts by the original deadline, as well as how much more time you’ll need to do so. 

What If My Company Is Dormant?

If your company is a dormant company, you still need to file accounts with Companies House. 

A company is usually considered ‘dormant’ where there were no significant transactions in the financial year. 

In addition, you still need to sort out your requirements under HMRC’s tax returns. 

Can A Company Be Struck Off For Not Filing Accounts?

The answer here is yes. If you do not file your accounts by the deadline, Companies House may send you two letters which warn you of your removal from the Companies House Register. 

These letters act as a warning to prompt you to file your accounts as soon as possible. 

Penalties For Not Filing Accounts

The penalties for not filing accounts or filing them after the deadline differ between private and public companies. 

For example, if the delay was under a month, the penalty sits at £150 for private companies, and £750 for public companies. 

You can read more about what penalties apply here. 

Need Help?

Filing accounts with Companies House is only one of the obligations you have as a registered company in the UK. For example, if you make any changes to your company’s details, you need to report these changes to Companies House as well. 

At Sprintlaw, our expert Employment Lawyers are happy to chat with you regarding your obligations. We can also help you draft certain legal documents to ensure compliance with the relevant laws, such as:

• Articles of Association
• Shareholders Agreements
• Terms and Conditions
• Internationally enforceable contracts

If you would like a consultation on your options moving forward, you can reach us at 08081347754 or [email protected] for a free, no-obligations chat.

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