UK accounting standards dictate how you prepare statutory accounts. Most small businesses use UK GAAP, specifically FRS 102 Section 1A (for small …
Statutory Accounts Services for UK Limited Companies
Every UK limited company must prepare and file statutory accounts each year. Miss the Companies House deadline and penalties apply automatically. File inaccurate figures and you open the door to an HMRC review. IBISS & CO Statutory Accounts Services removes both risks entirely.
500+
UK business served annually
100%
On time Companies House filing
£0
Late penalties for our clients
WHY BUSINESS CHOOSE US
- Fixed fee, agreed upfront
- ACCA & ICAEW qualified
- FRS 102 & FRS 105 specialists
- Deadlines met without exception
WHAT WE DELIVER
Our Statutory Accounts Services
IBISS & CO handles the full statutory accounts process from document collection to Companies House submission. Here is what every engagement includes:
Annual Accounts Prepared & Submitted
Annual accounts prepared, checked and submitted to Companies House and HMRC on time.
Deadline Management Included
Track your accounting reference date from day one. You never receive an emergency call about a missed Companies House deadline.
FRS 102 & FRS 105 Compliant
We file under the correct reporting standard for your company size micro-entity FRS 105 or small company FRS 102 Section 1A.
Corporation Tax Review
Your CT position is reviewed as part of every accounts engagement. We flag tax-saving opportunities identified from your year-end figures.
Dormant Company Accounts
Even non-trading companies must file. We prepare dormant accounts to the simplified Companies House standard on a fixed fee.
Statutory Audit Referral
We assess your audit obligation at the first consultation. Where required, we refer you to trusted statutory auditing partners.
Understanding the Basics
What Are Statutory Accounts?
Statutory accounts also called annual accounts or company accounts are the formal financial statements every UK limited company must prepare at the end of each financial year. The Companies Act 2006 makes this a legal requirement. More than 4.5 million sets of annual accounts reach Companies House each year.
Your statutory accounts give shareholders, HMRC, and creditors a verified snapshot of your company’s financial position. They form the basis of your corporation tax calculation and sit permanently on the public register.
They are not optional, they are not simplified, and they are not something you can defer. Miss the filing deadline and Companies House issues automatic financial penalties regardless of whether your company traded that year.
Balance Sheet
Shows your company's assets, liabilities, and shareholders' equity at the financial year-end. A point-in-time snapshot of what your business owns and owes.
Profit and Loss Account
Records revenue earned, costs incurred, and the resulting net profit or loss across the financial year. This figure feeds directly into your CT600 corporation tax return.
Cash Flow Statement
Required for medium and large companies. Tracks how money moved through operating, investing, and financing activities. Small companies and micro-entities may be exempt.
Notes to the Accounts
Contextualise the headline figures — accounting policies, related-party transactions, and the detail the primary statements alone cannot show.
Directors' Report
Required for small, medium, and large companies. A factual account of performance, activities, and outlook. Micro-entities are exempt under FRS 105.
Which Accounting Standard Applies to Your Business?
The standard your company files under depends entirely on its size. Filing under the wrong standard creates compliance risk. We determine the correct standard at the first consultation.
FRS 105
Micro-Entity Accounts
Minimum public disclosure. No profit and loss visible on the Companies House register.
Turnover
Below £632,000
Balance sheet total
Below £316,000
Employees
Fewer than 10
Meet 2 of 3 criteria
to qualify
Most Common — FRS 102 S.1A
Small Company Accounts
Reduced disclosure requirements vs full FRS 102. The standard most IBISS & CO clients file under.
Turnover
Below £10.2m
Balance sheet total
Below £5.1m
Employees
Fewer than 50
Meet 2 of 3 criteria
for two years
Full FRS 102
Medium & Large Companies
Full disclosures, cash flow statement, detailed directors' report. Statutory audit often required.
Turnover
Above £10.2m
Balance sheet total
Above £5.1m
Employees
50 or more
Audit exemption
May not apply
Making Tax Digital April 2026 and Beyond
From April 2026, MTD for Income Tax applies to sole traders and landlords above the threshold. MTD for Corporation Tax follows for limited companies. IBISS & CO keeps your statutory accounts aligned with both current Companies House requirements and incoming digital filing legislation. So your records stay compliant now and ready for what changes next.
Year End Services
Year End Accounts for London Businesses
Your company’s financial year end is the point at which everything gets totalled, verified, and made official. Private limited companies must submit their year end accounts to Companies House within 9 months of the accounting reference date.
First accounts, for newly incorporated companies, are due 21 months after the date of incorporation. Miss either deadline and Companies House applies automatic financial penalties — starting at £150 for accounts up to one month late and rising to £1,500 for accounts more than six months overdue.
IBISS & CO manages the full year end accounts process for businesses across London and the UK. We collect your documents, prepare the accounts, present a draft for your review, and submit the final version to both Companies House and HMRC — against your exact deadline. You approve accurate figures. We handle the rest.
We currently serve year end accounts clients across Tooting, Barking, and throughout Greater London, with remote services covering the full UK.
9 Months after year-end
Filing deadline for private limited company accounts with Companies House
21 Months from incorporation
First accounts deadline for newly incorporated companies
12 Months after year-end
Corporation tax return (CT600) deadline with HMRC — separate from Companies House
6 Months after year-end
Filing deadline for public limited company (PLC) statutory accounts
OUR CLIENTS
Who We Help
Small Businesses & Startups
Getting a new company through its first statutory filing is exactly the moment most founders lose hours they cannot afford. We simplify every step from setting up the correct accounting period to submitting on time. So you stay focused on building the business.
Limited Companies & E-Commerce
High volume e commerce operations and multi-entity limited company structures demand precision at every stage. Stock valuations, director loan accounts, multiple revenue streams, and cross-border VAT positions all affect your statutory accounts and your corporation tax liability.
Freelancers & Contractors
Operating through a limited company as a freelancer or contractor carries the same statutory accounts obligations as any other incorporated business — without always carrying a finance team. We prepare and file accounts for contractors and self-employed professionals across the UK on a fixed fee, every year.
Fixed-Fee, Transparent Pricing
Affordable Statutory Accounts No Hidden Costs
We agree your fee before work begins. You pay exactly what you were quoted regardless of how many questions you ask. No hourly rates. No surprises
Company Type
Filing Standard
Who It Applies To
Pricing
Micro-entity
FRS 105
Turnover below £632k, fewer than 10 staff
Contact us
Small company
Most Common
FRS 102 Section 1A
Turnover below £10.2m, fewer than 50 staff
Contact us
Dormant company
Simplified accounts
Non-trading companies — still a legal requirement
Contact us
Medium or large company
Full FRS 102
Above small company thresholds
Tailored quote
- Accounts prepared under correct FRS standard
- Corporation tax review included
- Companies House submission included
- Draft accounts for your review before filing
- HMRC CT600 coordination included
- Post-filing summary of key figures
Deadlines & Compliance
Statutory Accounts Deadlines and What Happens If You Miss Them
Do not wait until you are close to the deadline. Contact IBISS & CO as early as possible to secure your filing slot and give us sufficient time to prepare accurate accounts.
Company Type
Deadline
Private limited company — standard
9 months after year-end
Private limited company — first accounts
21 months from incorporation
Public limited company (PLC)
6 months after year-end
Corporation tax return (CT600)
12 months after year-end
How Late
Penalty
Up to 1 month late
£150
1 to 3 months late
£375
3 to 6 months late
£750
More than 6 months late
£1,500
Late for a second consecutive year
Penalty doubles
Frequently Asked Questions
Statutory Accounts Your Questions Answered
When must a UK limited company file its statutory accounts?
Private limited companies must file their accounts with Companies House within 9 months of the end of their financial year. For a company with a 31 December year-end, accounts are due by 30 September the following year.
First accounts covering the period from incorporation to the first year end are due 21 months after the company’s incorporation date.
What is the difference between statutory accounts and management accounts?
Statutory accounts are legally required annual filings prepared to Companies House and HMRC standards. They follow a prescribed format FRS 102 or FRS 105 and are publicly available on the Companies House register.
Management accounts are internal financial reports prepared as frequently as monthly or quarterly for directors to monitor business performance. They carry no legal requirement and follow no prescribed format. Read our full comparison. Sattutory Accounts Vs Management accounts.
Do I need statutory accounts if my company is dormant?
Yes. Even companies that trade no income during the financial year must file dormant company accounts with Companies House. The requirements are simplified — dormant accounts do not require a profit and loss account or directors’ report — but the filing obligation remains.
IBISS & CO prepares dormant accounts for a fixed fee.
Does my company need a statutory audit?
Most small companies and micro-entities qualify for audit exemption under the Companies Act 2006. To claim exemption, your company must have had turnover of no more than £10.2 million, a balance sheet total of no more than £5.1 million, and no more than 50 employees for two consecutive financial years.
Some companies — including subsidiaries of larger groups, regulated entities, and companies whose shareholders specifically request one — cannot claim this exemption. We assess your audit obligation at the first consultation.
What accounting standard does my company file under?
It depends on your company’s size. Micro-entities (turnover below £632,000, balance sheet below £316,000, fewer than 10 employees) file under FRS 105. Small companies file under FRS 102 Section 1A. Medium and large companies file full FRS 102 accounts.
We determine the correct standard for your company at the start of every engagement.
How long does it take to prepare statutory accounts?
For a typical small company with organised records, preparation takes 2 to 4 weeks from the point we receive all required documents. Complex company structures, high-volume e-commerce operations, or incomplete records may extend this timeline.
We discuss realistic timelines at the initial consultation and build in buffer time before your Companies House deadline.
What documents do I need to provide?
You will need: bank statements for the full financial year, sales invoices and receipts, purchase invoices, payroll records, director loan account balances, details of any assets purchased or disposed of, and prior-year accounts if this is not your first filing.
We provide a full checklist after your initial consultation.
We discuss realistic timelines at the initial consultation and build in buffer time before your Companies House deadline.
Can I file my own statutory accounts without an accountant?
You can file your own accounts if your company qualifies as a micro-entity, using the Companies House online filing service. However, errors in self-prepared accounts — particularly in areas such as capital allowances, director loan accounts, or deferred tax — frequently lead to incorrect corporation tax calculations.
Professional preparation typically pays for itself through tax savings alone. Speak to our team about your specific situation.
CONTACT US
Confused Where To Start?
Schedule a Free 15-minute discovery call by providing your contact details, mentioning your requirements, and selecting a convenient date for the call.
How our discovery call works:
- Complete Our Contact Form
- Discovery Calls Scheduled
- Receive a Tailored Proposal
RELATED SERVCIES
Management Accounts
Monthly & quarterly reporting
Corporation Tax
CT600 and tax planning
Bookkeeping Services
Year-round financial records
Company Secretarial
Confirmation statements & filings
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