Accounts and reports

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This Overview signposts key materials on company accounts and reports, with links to practical guidance and tools for common compliance tasks.

Accounts and reporting are central to corporate transparency and capital maintenance. Under the Companies Act 2006, directors must keep adequate accounting records and prepare annual accounts, a strategic report and a directors’ report, subject to size‑based content modifications and exemptions. Practitioners must navigate choices of accounting framework (UK GAAP or UK‑adopted international accounting standards), consolidation rules, and audit requirements and exemptions, including subsidiary audit guarantees. Oversight lies principally with Companies House (filing), the Financial Reporting Council (standards, supervision and audit) and the UK Endorsement Board (IFRS endorsement).

Key issues include filing deadlines and penalties, approval and signing formalities, and the interface with distributions law, where the lawfulness of dividends turns on realised profits in the relevant accounts. Larger companies face enhanced disclosures: the section 172 statement, non‑financial information statements and streamlined energy and carbon reporting. Quoted and listed companies must also comply with FCA rules on periodic financial reporting, including annual and half‑yearly obligations under the DTRs.

The materials cover group and dormant company regimes, micro‑entity...

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