As a new business owner in the UK, I’m trying to understand the requirements for annual accounts. What exactly are annual accounts, and why do I need to submit them to Companies House?
Answer by: abdullah-al-naim
1 month ago
Annual accounts, also known as statutory accounts, are financial statements prepared at the end of your company\’s financial year. They provide a comprehensive overview of your company\’s financial performance and position, including details on income, expenses, assets, and liabilities. Submitting these accounts to Companies House is a legal obligation for all UK limited companies, ensuring transparency and accountability to stakeholders and regulatory bodies.
