C17C16C10C11C12C15Part 15Accounts and reports
Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))
Pt. 15 applied (with modifications) (6.4.2008) by The Bank Accounts Directive (Miscellaneous Banks) Regulations 2008 (S.I. 2008/567), reg. 4, Sch. para. 1 (with Sch. para. 11)
Pt. 15 applied (with modifications) (6.4.2008) by The Partnerships (Accounts) Regulations 2008 (S.I. 2008/569), regs. 4, 7, Sch. Pt. 1
Pt. 15 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 16 (with transitional provisions and savings in regs. 7, 9, Sch. 2)
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
C17C16Chapter 10Filing of accounts and reports
Filing obligations of different descriptions of company
443AF27Filing obligations of micro-entities
1
The directors of a company that qualifies as a micro-entity in relation to a financial year, or that would do so but for being or having been a member of an ineligible group—
a
must deliver to the registrar a copy of the company’s annual accounts, and
b
may also deliver to the registrar a copy of the directors’ report.
2
The directors must also deliver to the registrar a copy of the auditor’s report on those accounts (and any directors’ report).
This does not apply if the company is exempt from audit and the directors have taken advantage of that exemption.
3
The copies of the balance sheet and any directors’ report delivered to the registrar under this section must state the name of the person who signed it on behalf of the board.
4
The copy of the auditor’s report delivered to the registrar under this section must—
a
state the name of the auditor and (where the auditor is a firm) the name of the person who signed it as senior statutory auditor, or
b
if the conditions in section 506 (circumstances in which names may be omitted) are met, state that a resolution has been passed and notified to the Secretary of State in accordance with that section.
5
If more than one person is appointed as auditor, the reference in subsection (4)(a) to the name of the auditor is to be read as a reference to the names of all the auditors.
C2C1C8I1C20C22444F60Filing obligations of companies subject to small companies regimeF60Filing obligations of small companies other than micro-entities
F601
The directors of a company subject to the small companies regime—
a
must deliver to the registrar for each financial year a copy of F44the balance sheet drawn up as at the last day of that year, and
b
may also deliver to the registrar—
i
a copy of the company's profit and loss account for that year, and
ii
a copy of the directors' report for that year.
2
F41Where the directors deliver to the registrar a copy of the company’s profit and loss account under subsection (1)(b)(i), the directors must also deliver to the registrar a copy of the auditor's report on F2the accounts (and any directors' report) that it delivers.
This does not apply if the company is exempt from audit and the directors have taken advantage of that exemption.
F512A
Where the balance sheet or profit and loss account is abridged pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (
S.I. 2008/409
)
, the directors must also deliver to the registrar a statement by the company that all the members of the company have consented to the abridgement.
F393
F53
... the copies of accounts and reports delivered to the registrar must be copies of the company’s annual accounts and reports.
F453A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F453B
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F324
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
Where the directors of a company subject to the small companies regime F28...—
a
do not deliver to the registrar a copy of the company's profit and loss account, or
b
do not deliver to the registrar a copy of the directors' report,
the copy of the balance sheet delivered to the registrar must contain in a prominent position a statement that the company's annual accounts and reports have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
F345A
Subject to subsection (5C), where the directors of a company subject to the small companies regime do not deliver to the registrar a copy of the company’s profit and loss account—
a
the copy of the balance sheet delivered to the registrar must disclose that fact, and
b
unless the company is exempt from audit and the directors have taken advantage of that exemption, the notes to the balance sheet delivered must satisfy the requirements in subsection (5B).
5B
Those requirements are that the notes to the balance sheet must—
a
state whether the auditor’s report was qualified or unqualified,
b
where that report was qualified, disclose the basis of the qualification (reproducing any statement under section 498(2)(a) or (b) or section 498(3), if applicable),
c
where that report was unqualified, include a reference to any matters to which the auditor drew attention by way of emphasis, and
d
state—
i
the name of the auditor and (where the auditor is a firm) the name of the person who signed the auditor’s report as senior statutory auditor, or
ii
if the conditions in section 506 (circumstances in which names may be omitted) are met, that a resolution has been passed and notified to the Secretary of State in accordance with that section.
5C
Subsection (5A) does not apply in relation to a company if—
a
the company qualifies as a micro-entity (see sections 384A and 384B) in relation to a financial year, and
b
the company’s accounts are prepared for that year in accordance with any of the micro-entity provisions.
6
The copies of the balance sheet and any directors' report delivered to the registrar under this section must state the name of the person who signed it on behalf of the board.
7
The copy of the auditor's report delivered to the registrar under this section must—
a
state the name of the auditor and (where the auditor is a firm) the name of the person who signed it as senior statutory auditor, or
b
if the conditions in section 506 (circumstances in which names may be omitted) are met, state that a resolution has been passed and notified to the Secretary of State in accordance with that section.
F308
If more than one person is appointed as auditor, the references in subsections (5B)(d)(i) and (7)(a) to the name of the auditor are to be read as references to the names of all the auditors.
F601
The directors of a company that is subject to the small companies regime in relation to a financial year, or that would be so subject but for being or having been a member of an ineligible group, must deliver to the registrar a copy of—
a
the company’s annual accounts, and
b
the directors’ report.
2
The directors must also deliver to the registrar a copy of the auditor’s report on those accounts (and on the directors’ report).
This does not apply if the company is exempt from audit and the directors have taken advantage of that exemption.
3
The copies of the balance sheet and directors’ report delivered to the registrar under this section must state the name of the person who signed it on behalf of the board.
4
The copy of the auditor’s report delivered to the registrar under this section must—
a
state the name of the auditor and (where the auditor is a firm) the name of the person who signed it as senior statutory auditor, or
b
if the conditions in section 506 (circumstances in which names may be omitted) are met, state that a resolution has been passed and notified to the Secretary of State in accordance with that section.
5
If more than one person is appointed as auditor, the reference in subsection (4)(a) to the name of the auditor is to be read as a reference to the names of all the auditors.
6
This section does not apply to companies within section 443A (filing obligations of companies that qualify as micro-entities).
C20C3C9
444A
F38F1Filing obligations of companies entitled to small companies exemption in relation to directors' report
1
The directors of a company that is entitled to small companies exemption in relation to the directors' report for a financial year—
a
must deliver to the registrar a copy of the company's annual accounts for that year, and
b
may also deliver to the registrar a copy of the directors' report.
2
The directors must also deliver to the registrar a copy of the auditor's report on the accounts (and any directors' report) that it delivers. This does not apply if the company is exempt from audit and the directors have taken advantage of that exception.
3
The copies of the balance sheet and directors' report delivered to the registrar under this section must state the name of the person who signed it on behalf of the board.
F84
The copy of the auditor's report delivered to the registrar under this section must—
a
state the name of the auditor and (where the auditor is a firm) the name of the person who signed it as senior statutory auditor, or
b
if the conditions in section 506 (circumstances in which names may be omitted) are met, state that a resolution has been passed and notified to the Secretary of State in accordance with that section.
F334A
If more than one person is appointed as auditor, the reference in subsection (4)(a) to the name of the auditor is to be read as a reference to the names of all the auditors.
5
This section does not apply to companies within section 444 (filing obligations of companies subject to the small companies regime).
C4I4C20C21445Filing obligations of medium-sized companies
1)
The directors of a company that qualifies as a medium-sized company in relation to a financial year (see sections 465 to 467) must deliver to the registrar a copy of—
a
the company's annual accounts, F59...
F55aa
the strategic report, and
b
the directors' report.
2
They must also deliver to the registrar a copy of the auditor's report on those accounts (and onF49 the strategic report and the directors' report).
This does not apply if the company is exempt from audit and the directors have taken advantage of that exemption.
F423
. . . . . . . . . . . . . . . . . . . . . .
F244
. . . . . . . . . . . . . . . . . . . . . .
5
The copies of the balance sheet F56, strategic report and directors' report delivered to the registrar under this section must state the name of the person who signed it on behalf of the board.
6
The copy of the auditor's report delivered to the registrar under this section must—
a
state the name of the auditor and (where the auditor is a firm) the name of the person who signed it as senior statutory auditor, or
b
if the conditions in section 506 (circumstances in which names may be omitted) are met, state that a resolution has been passed and notified to the Secretary of State in accordance with that section.
F366A
If more than one person is appointed as auditor, the reference in subsection (6)(a) to the name of the auditor is to be read as a reference to the names of all the auditors.
F62F37
This section does not apply to companies within—
a
section 444 (filing obligations of companies subject to the small companies regime), or
b
section 444A (filing obligations of companies entitled to small companies exemption in relation to directors' report).
F627
This section does not apply to companies within—
a
section 443A (filing obligations of micro-entities), or
b
section 444 (filing obligations of small companies other than micro-entities).
C5I2C19C20446Filing obligations of unquoted companies
1
The directors of an unquoted company must deliver to the registrar for each financial year of the company a copy of—
a
the company's annual accounts, F9. . .
F26aa
the strategic report,
F40ba
any directors’ remuneration report, and
c
any separate corporate governance statement.
2
The directors must also deliver to the registrar a copy of the auditor's report on those accounts (and F61the strategic report (where this is covered by the auditor’s report), the directors' report F58, any directors’ remuneration reportF12and any separate corporate governance statement).
This does not apply if the company is exempt from audit and the directors have taken advantage of that exemption.
3
4
The copy of the auditor's report delivered to the registrar under this section must—
a
state the name of the auditor and (where the auditor is a firm) the name of the person who signed it as senior statutory auditor, or
b
if the conditions in section 506 (circumstances in which names may be omitted) are met, state that a resolution has been passed and notified to the Secretary of State in accordance with that section.
F294A
If more than one person is appointed as auditor, the reference in subsection (4)(a) to the name of the auditor is to be read as a reference to the names of all the auditors.
F355
This section does not apply to companies within—
a
section 444 (filing obligations of companies subject to the small companies regime), F4. . .
F5aa
section 444A (filing obligations of companies entitled to small companies exemption in relation to directors' report), or
b
section 445 (filing obligations of medium-sized companies).
F355
This section does not apply to companies within—
a
section 443A (filing obligations of micro-entities),
b
section 444 (filing obligations of small companies other than micro-entities), or
c
section 445 (filing obligations of medium-sized companies).
C6I3C13C20447Filing obligations of quoted companies
1
The directors of a quoted company must deliver to the registrar for each financial year of the company a copy of—
a
the company's annual accounts,
b
the directors' remuneration report, F13. . .
F50ba
the strategic report,
c
the directors' report.F14, and
d
any separate corporate governance statement.
2
3
4
The copy of the auditor's report delivered to the registrar under this section must—
a
state the name of the auditor and (where the auditor is a firm) the name of the person who signed it as senior statutory auditor, or
b
if the conditions in section 506 (circumstances in which names may be omitted) are met, state that a resolution has been passed and notified to the Secretary of State in accordance with that section.
F475
If more than one person is appointed as auditor, the reference in subsection (4)(a) to the name of the auditor is to be read as a reference to the names of all the auditors.
C7C14C20448Unlimited companies exempt from obligation to file accounts
1
The directors of an unlimited company are not required to deliver accounts and reports to the registrar in respect of a financial year if the following conditions are met.
2
The conditions are that at no time during the relevant accounting reference period—
a
has the company been, to its knowledge, a subsidiary undertaking of an undertaking which was then limited, or
b
have there been, to its knowledge, exercisable by or on behalf of two or more undertakings which were then limited, rights which if exercisable by one of them would have made the company a subsidiary undertaking of it, or
c
has the company been a parent company of an undertaking which was then limited.
The references above to an undertaking being limited at a particular time are to an undertaking (under whatever law established) the liability of whose members is at that time limited.
3
The exemption conferred by this section does not apply if—
a
the company is a banking or insurance company or the parent company of a banking or insurance group, or
F6b
each of the members of the company is—
i
a limited company,
ii
another unlimited company each of whose members is a limited company, F18 . . .
iv
a Scottish partnership which is a limited partnership, each of whose general partners is a limited company.
F7The references in paragraph (b) to a limited company, another unlimited company F21, a Scottish partnership which is not a limited partnership or a Scottish partnership which is a limited partnership include a comparable undertaking incorporated in or formed under the law of a country or territory outside the United Kingdom.
4
Where a company is exempt by virtue of this section from the obligation to deliver accounts—
a
section 434(3) (requirements in connection with publication of statutory accounts: meaning of “statutory accounts”) has effect with the substitution for the words “as required to be delivered to the registrar under section 441” of the words “as prepared in accordance with this Part and approved by the board of directors”; and
b
section 435(1)(b) (requirements in connection with publication of non-statutory accounts: statement whether statutory accounts delivered) has effect with the substitution for the words from “whether statutory accounts” to “have been delivered to the registrar” of the words “that the company is exempt from the requirement to deliver statutory accounts”.
F225
In this section—
“ general partner ” means—
- a
in relation to a Scottish partnership which is a limited partnership, a person who is a general partner within the meaning of the Limited Partnerships Act 1907 F23 ; and
- b
in relation to an undertaking incorporated in or formed under the law of any country or territory outside the United Kingdom and which is comparable to a Scottish partnership which is a limited partnership, a person comparable to such a general partner;
- a
“ limited partnership ” means a partnership registered under the Limited Partnerships Act 1907; and the “ relevant accounting reference period ”, in relation to a financial year, means the accounting reference period by reference to which that financial year was determined.
C20C18448A F17Dormant subsidiaries exempt from obligation to file accounts
1
The directors of a company are not required to deliver a copy of the company's individual accounts to the registrar in respect of a financial year if—
a
the company is a subsidiary undertaking,
b
it has been dormant throughout the whole of that year, and
c
its parent undertaking is established under the law of F37any part of the United Kingdom.
2
Exemption is conditional upon compliance with all of the following conditions—
a
all members of the company must agree to the exemption in respect of the financial year in question,
b
the parent undertaking must give a guarantee under section 448C in respect of that year,
c
the company must be included in the consolidated accounts drawn up for that year or to an earlier date in that year by the parent undertaking in accordance with—
F46i
if the undertaking is a company, the requirements of this Part of this Act, or, if the undertaking is not a company, the legal requirements which apply to the drawing up of consolidated accounts for that undertaking, or
ii
F57UK-adopted international accounting standards,
d
the parent undertaking must disclose in the notes to the consolidated accounts that the directors of the company are exempt from the requirement to deliver a copy of the company's individual accounts to the registrar by virtue of this section, and
e
the directors of the company must deliver to the registrar within the period for filing the company's accounts and reports for that year—
i
a written notice of the agreement referred to in subsection (2)(a),
ii
the statement referred to in section 448C(1),
iii
a copy of the consolidated accounts referred to in subsection (2)(c),
iv
a copy of the auditor's report on those accounts, and
v
a copy of the consolidated annual report drawn up by the parent undertaking.
C20C18448B Companies excluded from the dormant subsidiaries exemption
b
a company that—
i
is an authorised insurance company, a banking company, an e-Money issuer, a MiFID investment firm or a UCITS management company, or
ii
carries on insurance market activity, or
c
a special register body as defined in section 117(1) of the Trade Union and Labour Relations (Consolidation) Act 1992 (c 52) or an employers' association as defined in section 122 of that Act or Article 4 of the Industrial Relations (Northern Ireland) Order 1992 ( S.I. 1992/807) ( NI 5).
C20C18448C Dormant subsidiaries filing exemption: parent undertaking declaration of guarantee
1
A guarantee is given by a parent undertaking under this section when the directors of the subsidiary company deliver to the registrar a statement by the parent undertaking that it guarantees the subsidiary company under this section.
2
The statement under subsection (1) must be authenticated by the parent undertaking and must specify—
a
the name of the parent undertaking,
F43b
the registered number (if any) of the parent undertaking,
F31c
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
d
the name and registered number of the subsidiary company in respect of which the guarantee is being given,
e
the date of the statement, and
f
the financial year to which the guarantee relates.
3
A guarantee given under this section has the effect that—
a
the parent undertaking guarantees all outstanding liabilities to which the subsidiary company is subject at the end of the financial year to which the guarantee relates, until they are satisfied in full, and
b
the guarantee is enforceable against the parent undertaking by any person to whom the subsidiary company is liable in respect of those liabilities.
Pt. 15 applied (with modifications) (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 162, 163 (with reg. 189)