Accounting Reference Dates - Company Formation - UK Registration Services

• Accounting reference dates - (ARD).

This refers to the end of the financial accounting year and is the date that Companies House require the accounts of the company.

• Preparing and filing accounts

. Companies House has strict dates, specific to your company, when the accounts have to be received by. If this date is missed an automatic fine will be sent to your company.

• The elements of accounts.

This article will only advise you on the exemptions available and whether you will have to have an audit carried out your accounts. Anything more specific will require your accountant's advice.

Accounting reference dates:

What is a accounting financial year?

The year reported in your accounts is the company's financial year. This commences from the date of incorporation until the end of that year.

The next financial year begins the day following the end of the prior financial year. The financial year is also known as the the 'accounting reference' period.

The accounting period will end on the accounting reference date or alternatively a date up to a week within the ARD.

How is an ARD determined?

If it is a newly incorporated company, the ARD is the date of incorporation.

Can the accounting reference date be altered?

If you complete a form 225 you can change the ARD.

What are the constraints on altering the accounting reference date?

There are only restrictions on lengthening the ARD (you are entitled to shorted the period as much as you wish). -The period can not be extended to more than eighteen months.

A company is restricted from extending the period more than one time in five years unless: -the company is in administration -it is necessary to adjust the accounting reference date so it is inline with a parent or subsidiary undertaking.

Further News and Articles

1. Forming A Company Just Became Easier

2. Statutory Requirements For New Companies

• Issue and Allotment of Shares
• Transfer of Shares
• Dividends
• Company Meetings
• Company Notices
• Directors Meetings
• Single Member Companies

3. Non Profit Organisations

• Options for incorporated not-for-profit organisations
• Companies House Coding System
• Non s30 companies
• Royal Charter
• Charitable Companies

4. Company Directors and Secretaries

• An introduction to limited companies
• Role and duties of a company director
• Role and duties of a company secretary
• What you have to send to Companies House
• Quality of company documents
• Further information

5. Annual Returns

• Completing an annual return
• Completing the shuttle annual return Form 363s

6. Accounts and Accounting Reference Dates

• Accounting reference dates
• Submitting accounts to Companies House
• What if the accounts are delivered late?
• Small and medium sized companies accounts submission
• Very small company audit exemptions
• Audit exemptions and accounts to shareholders
• Exemption from audits for dormant companies
• What happens if my company starts trading again?
• Partnership accounts

7. Company Auditors

• Appointment of auditors
• Dormant company audit exemption
• What and who are recognised supervisory bodies?
• Removal of auditors

8. Share Capital and Prospectuses

• Share capital
• What is issued capital?
• Non-cash payments?
• Are there different types of shares?
• Can class rights be amended?
• Redemption and purchase of own shares?
• Prospectuses and listing particulars

9. Late Filing Penalties

• Late filing penalties
• Late filing penalties need not be necessary
• Once a late filing penalty has been imposed
• Further information

10. The Costs and Benefits of Company Registration

• Company Formation Introduction
• Costs and benefits of limited liability
• Restrictions and costs of setting up a company I
• Restrictions and costs of setting up a company II
• Restrictions and costs of setting up a company III
• Restrictions and costs of setting up a company IV
• The registration of company names
• The company’s constitution and the ultra vires rule
• Summary and conclusions