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Abbreviated Accounts - Small Companies

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Abbreviated accounts for small companies and limited liability partnerships

The abbreviated accounts of a small company or limited liability partnership (LLP) don't have to include the full balance sheet, profit and loss account or director's report normally required by Companies House.

But you must include:

  • An abbreviated balance sheet and notes¬†explaining in more detail the make-up of the figures in the balance sheet.
  • A special¬†auditor's report¬†- unless you're also claiming an audit exemption. If you are claiming an audit exemption, you are not required to appoint an auditor.

The auditor's report must state that in the auditor's opinion you are entitled to submit abbreviated accounts in line with the relevant section of the Companies Act.

For financial periods starting on or after 6 April 2008 (or 1 October 2008 in the case of small LLPs) accounts must be prepared in accordance with the Companies Act 2006. Small companies and LLPs must include a statement on the balance sheet that the accounts are prepared in accordance with the special provisions applicable to companies (or LLPs) subject to the small companies' or LLPs' regime.

In the note to the annual accounts, you are also required to disclose the amount of remuneration paid to the auditor (including any benefits in kind) for auditing the company accounts.

The right to prepare abbreviated accounts for Companies House does not affect a company's or LLP's obligations to prepare full accounts for its members.

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