What are small company accounts?
Small company accounts are statutory accounts prepared under FRS 102 Section 1A, the reduced disclosure framework for companies that exceed the micro-entity thresholds but are still classed as small. They include a balance sheet, profit and loss account and a fuller set of notes than a micro-entity would file.
The extra detail means small company accounts give a more complete picture of the business than micro-entity accounts, which can matter to lenders, landlords or investors even where it isn't strictly required by law.
Does my company qualify as small?
Your company is classed as small if it meets at least two of three conditions: turnover of no more than £15 million, a balance sheet total of no more than £7.5 million, and no more than 50 employees on average.
As with the micro-entity rules, you only need to satisfy two of the three thresholds, and we check this against your figures as part of preparing your accounts.
- Turnover of £15 million or less
- Balance sheet total of £7.5 million or less
- 50 employees or fewer, on average
What's included in small company accounts filing?
Our small company accounts service covers preparation of your accounts under FRS 102 Section 1A, a corporation tax computation, and preparation and submission of your CT600, for £749 + VAT. Any Companies House fee shown is charged at today's rate; if Companies House changes it, we charge the new fee separately.
We file both your accounts at Companies House and your Company Tax Return with HMRC as part of the same engagement, so your figures and disclosures are consistent across both filings.
Micro-entity, small and abridged accounts explained
Micro-entity accounts are the most simplified option, available only below the micro-entity thresholds. Small company accounts, prepared under FRS 102 Section 1A, apply where a company is small but not micro, and include more notes and a profit and loss account.
Abridged accounts, which allowed small companies to file a reduced balance sheet and omit the profit and loss account, are being phased out as Companies House moves toward greater transparency; from April 2028 that option will no longer be available, and small and micro companies will need to file a profit and loss account, though it can be kept out of the public record.
Small company accounts and Companies House transparency changes
From April 2028, filing moves to software-only submission, abridged accounts are removed, and small companies will need to file a profit and loss account, with the option to opt out of public disclosure of that P&L.
We keep our small company accounts service aligned with these changes as they take effect, so you always file in the format Companies House currently requires.
What if my accounts or tax return are already overdue?
We are an independent firm of Chartered Accountants, not Companies House or HMRC. If your small company accounts are overdue, Companies House penalties apply automatically and increase the longer the delay continues, and HMRC applies separate penalties for a late CT600.
We can prepare and file overdue small company accounts and tax returns; sending us your records promptly limits how much further penalties can build up.