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What are the Accounting & Audit requirements for a Private Company?



This Guidance Note Accounts, Audit & other statutory filings is a simple user friendly and practical ‘how to’ guide for finance directors and company secretaries in relation to the accounting and audit requirements for private companies under the Companies Act 2006 as well as looking at other statutory filings (such as the annual return) that need to be made. Also included is guidance on the recently introduced December 2013 regulations covering accounting exemptions for micro-entities.

The Companies Act 2006 requires that all companies must prepare and file annual accounts, therefore this Guidance Note covers the following:

• Time limits and filing generally
• Preparing and filing an annual return
• Preparation of the annual accounts
• Abbreviated accounts for micro entities and small and medium sized companies
• Distribution of the accounts
• Is an audit required?
• Appointment, removal and retirement of the auditor.

This Guidance Note will also helpfully link you through to all our relevant template documents, including board minutes, shareholder resolutions and Companies House forms for use when preparing the accounts and managing the audit process. These links can also be found below.

CS01 - Confirmation Statement
AP01 - Appointment Of A Director 
TM01 - Termination Of Appointment Of Director 
TM02 - Termination Of Appointment Of Secretary 
AA03 - Notice Of Resolution Removing Auditors From Office 
SH01 - Return Of Allotment Of Shares 
AD01 - Change Of Registered Office Address 
AA01 - Change Of Accounting Reference Date 
Board Minutes – Approval of Statutory Accounts 
Shareholders’ Special Resolution - Amendment to Articles of Association 
Board Minutes – First Meeting Of The Board Of Directors 
Shareholders’ Ordinary Resolution – Appointment of Auditors 
Shareholders’ Ordinary Resolution – Removal of Auditors and Replacement 
Board Minutes - Resignation and Appointment of Auditors 
Auditor’s Resignation Letter 
Letter to Companies House – Auditor’s Resignation

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