Revised Companies House guidance aims to address filing confusion
For accounting periods commencing 1 January 2016, all company accounts have to be prepared and filed under the ‘new’ UK GAAP regime. This means that there is a number of options available, particularly for small companies and micro-entities. Inevitably, the number of options, and the new regime generally, has caused confusion, particularly in terms of which format of the accounts needs to be prepared and how these are modified before being filed at Companies House.
Companies House has now revised guidance relating to the filing of accounts, which covers the new regime. The guidance covers all sizes of company and includes specific issues relating to abridged accounts, ‘filleted accounts’ (where the directors’ report and profit & loss account are omitted) and micro-entity accounts.
The revised guidance is available here. ACCA has also produced model accounts covering FRS 102, FRS 102 for LLPs, FRS 102 for small companies (abridged) and FRS 105. These are available from ACCA by emailing email@example.com, quoting name and ACCA membership number.