What are year end accounts for a limited company?
Annual accounts, also called statutory accounts, are the formal financial statements a limited company must prepare for each accounting period and file with Companies House. At a minimum they include a balance sheet showing the company's assets, liabilities and equity at the year end, along with notes to the accounts explaining the figures.
Depending on your company's size, you may also need a profit and loss account and a directors' report. Larger small companies typically include a directors' report, while micro-entities are usually exempt from this requirement.
What goes into a balance sheet and notes to the accounts
The balance sheet sets out fixed assets, current assets, creditors due within and after one year, and shareholders' funds, giving a snapshot of the company's financial position at the year end date. It must be signed by a director and state that it was approved by the board.
The notes to the accounts explain the accounting policies used and give further detail behind the balance sheet figures, such as the basis of any fixed asset valuations, related party transactions where relevant, and details of the company's share capital.
Directors' report requirements
Small companies preparing accounts under FRS 102 Section 1A are generally required to include a directors' report, giving a brief overview of the company's activities during the year and confirming who the directors were. Micro-entities are exempt from preparing a directors' report at all.
We prepare the directors' report as part of your annual accounts where it's required, keeping it factual and proportionate to a small company's needs.
Filleted accounts — what can you leave out of the public record?
Filleted accounts are a version of your statutory accounts with certain sections, most commonly the profit and loss account and directors' report, removed before filing with Companies House, so they don't appear on the public register. Small and micro companies are generally entitled to file filleted accounts.
This lets you keep sensitive financial performance details private from competitors and the public, while still submitting full accounts internally and to HMRC. From April 2028, small and micro companies will be required to file a profit and loss account, though with an option to opt out of it being made public, and abridged accounts will be removed as an option, so it's worth keeping this under review each year.
How much do year end accounts cost for a small limited company?
Our annual accounts service starts from £549 + VAT for micro-entity accounts, including preparation and filing of your CT600. If your company doesn't qualify as a micro-entity and needs small company accounts under FRS 102 1A, pricing is confirmed once we understand your company's size and complexity.
For periods starting on or after 6 April 2025, micro-entity status requires meeting two of: turnover of £1 million or less, balance sheet total of £500,000 or less, and 10 or fewer employees.
When are my limited company accounts due at Companies House?
Private limited company accounts are due 9 months after your company's accounting period ends, or 21 months after incorporation for your first set of accounts. Filing even one day late triggers an automatic penalty starting at £150, rising to £1,500 for accounts more than 6 months late, and doubling if you're late for two years running.
Any Companies House fee shown is charged at today's rate; if Companies House changes it, we charge the new fee separately. We are an independent firm of Chartered Accountants, not Companies House or HMRC.
Can I file my company accounts myself?
Yes, company directors are legally entitled to prepare and file accounts themselves. The difficulty most directors run into is knowing exactly which notes, disclosures and reports their company's size requires, and getting the balance sheet and supporting figures right.
Since director identity verification became required at Companies House from 18 November 2025, there are more administrative steps involved in company filings generally, which is another reason many directors prefer to have an accountant handle the process.