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Chapter 7

Accounts and reports

Confirmation Can be sent at any time but no more than 12 months can pass
Statement between each Statement.

The Statement contains that no changes to key information
have happened during the year. If changes have been made
it states what they are.

Changes need to be communicated on:

 address of registered office

 type of company

 principal business activities

 details of officers

 details of issued shares and their holders

 particulars of those who have ceased to be members
since the last return

Accounting The company must keep accounting records containing
Records sufficient information to show and explain the company’s
transactions. In particular the records must show:

 details of all money received and spent

 a record of assets and liabilities

 Statement of stocks at end of year.

Accounting records need to be kept for three years in the case
of a private company and six years for a public company.

Annual Accounts: Companies are required to produce annual accounts including:

 balance sheet and profit and loss account showing true
and fair view

 directors’ report stating the amount of any dividend and
likely future developments.

The annual financial statements must be approved and signed
on behalf of the board of directors and a copy filed with the
Registrar.

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