Annual Accounts for Limited Companies

Every limited company in the UK must prepare and file annual accounts and getting them right is more involved than most directors expect. At BAA Group, we prepare accurate, fully compliant annual accounts and file them with Companies House and HMRC on your behalf, so you stay on the right side of the law and never face a late-filing penalty.

Led by Ben Brophy ACA, we bring over a decade of experience and a refreshingly jargon-free approach. We turn a confusing legal obligation into a simple, sorted process — and use your accounts to spot ways to save you tax along the way.

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What Are Annual Accounts?

Annual accounts also called statutory accounts are the formal financial statements a limited company must produce at the end of each financial year. They’re prepared from your company’s records and must follow recognised accounting standards.

A full set of annual accounts typically includes:

A balance sheet showing what the company owns and owes on the last day of the financial year
A profit and loss account showing income, costs, and profit over the year
Notes to the accounts explaining the figures in more detail
A director’s report (unless you qualify for an exemption)

These accounts serve two purposes: they’re filed with Companies House to satisfy your legal obligations, and they form the basis of your Corporation Tax return to HMRC. Done properly, they’re also a genuinely useful snapshot of your company’s health.

Who Has to File Annual Accounts?

Every registered limited company in the UK must file annual accounts with Companies House every year — even if the company is dormant or hasn’t traded. This is one of the most common and costly misunderstandings we see. A company with no income still has to file (a simpler set, but file it must), and penalties apply just the same for late dormant accounts.

We handle annual accounts for:

Active trading companies of all sizes
Contractor and one-person limited companies
Dormant companies that need to stay compliant with minimal fuss
Companies switching accountants mid-year — we manage the handover

Types of Annual Accounts

Not every company files a full set of accounts. Depending on your company’s size, you may be able to file simpler versions — which can mean less detail on the public record and lower preparation costs. We’ll work out exactly which category you fall into:

Micro-entity accounts

The simplest option, available to the smallest companies that meet at least two of: turnover under £632,000, balance sheet total under £316,000, and 10 or fewer employees. These require minimal detail.

Small company / abridged accounts

For companies that qualify as “small,” allowing a reduced level of detail to be filed publicly while still meeting your obligations.

Full accounts

Required for larger companies or where shareholders request the full picture.

Choosing the right format keeps your filing efficient and limits how much financial detail ends up on the public Companies House record. We’ll advise on the best route for your situation.

Annual Accounts Filing Deadlines

Missing a Companies House deadline triggers an automatic penalty — so we build your dates into our schedule and file in good time.

Established companies: annual accounts are due 9 months after your accounting reference date (your financial year end).
Newly incorporated companies: your first accounts are due 21 months after the date of incorporation.
Your Corporation Tax return (CT600) is a separate filing, due 12 months after your accounting period ends — though we usually prepare and file both together to save duplicating work.

What happens if you file late?

Companies House issues an automatic penalty that grows the longer you delay:

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

Penalties double if you file late two years in a row, and persistent failure can lead to your company being struck off. We make sure none of that ever happens to you.

How Annual Accounts Link to Your Corporation Tax

Your annual accounts and your Corporation Tax aren’t separate worlds — the profit shown in your accounts is the starting point for working out what your company owes HMRC. That’s why we prepare them together: we make sure every allowable expense is captured, your figures are consistent across both filings, and your tax bill is as low as legitimately possible.

Why Choose BAA Group for Your Annual Accounts?

Always on time. We track every deadline so a penalty is never on the cards.
Right format, every time. Micro-entity, small, or full — we file what’s best for you.
Tax-efficient. We prepare accounts and Corporation Tax together to minimise your bill.
Jargon-free. We explain what your accounts actually mean in plain English.
Cloud-powered. Xero, QuickBooks, and FreeAgent mean real-time figures and less admin.
Proactive. We don’t just file and disappear — we advise you all year round.

How It Works

Free consultation. We learn about your company and what you need.
We gather your records. Connect your cloud software or send your paperwork.
We prepare your accounts. Accurate, in the right format, reviewed for tax efficiency.
You approve, we file. We submit to Companies House and HMRC on time.
We plan ahead. We flag deadlines and opportunities before they arrive.

Frequently Asked Questions

What’s the difference between annual accounts and a tax return?

Annual accounts are the financial statements you file with Companies House. Your Corporation Tax return (CT600) is a separate filing to HMRC that calculates the tax you owe. They’re related, your accounts feed the tax return, but they’re two different filings with two different deadlines. We handle both.

Do dormant companies need to file annual accounts?

Yes. Even a company that hasn’t traded must file accounts with Companies House every year. Dormant accounts are simpler, but the obligation and the late-filing penalties are identical.

When are my annual accounts due?

For an established company, 9 months after your financial year end. For a brand-new company, 21 months after the date of incorporation. We’ll confirm your exact dates and manage them for you.

Can you file simplified accounts for my small company?

Very likely, yes. Most small and micro companies qualify to file reduced accounts, which keeps less detail on the public record and lowers your costs. We’ll confirm which category you’re in.

Can you take over my annual accounts from another accountant?

Absolutely. The switch is straightforward, we handle the handover and keep everything running without a hitch.

Ready to Get Your Annual Accounts Sorted?

Let’s make your annual accounts accurate, compliant, and filed well before the deadline — while keeping your tax bill as low as legitimately possible.

Get in touch with BAA Group today → Contact Us