Late Delivery Of Accounts - Company Formation - UK Registration Services

The fines can therefore be from £500 to £5000 for public limited companies and £100 to £1000 for private companies. It is important that the financial statements are signed by an authorised person i.e. a member of the board and the auditors on the appropriate pages.

Any questions concerning the accounts should be addresses to the company auditors as Companies House themselves will only provide limited guidance in the preparation and format of any submission.

Due to the recent increases in small and medium sized company exemptions, the number of companies falling out of the audit requirements have increased dramatically. These companies can not only dispense with the need to have an audit, they can in most cases deliver abbreviated financial statements to Companies House. This has the benefit of preparing a simplified set of accounts and being able to a varying extent not reveal information to the public or to competitors.

This however may be a disadvantage as potential creditors may find it difficult to ascertain the company's credit worthiness. It is important that you ensure that your company meets the required criteria for submitting reduced format accounts before the submission deadline. If the exemption is found not to apply, late filing penalties will be incurred automatically if the correct accounts are not received by the Registrar by the original due date.

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