Chapter 16: Accounts and reports

This chapter provides guidance on the preparation, filing, publishing, circulating and laying of accounts. It looks at the responsibility for accounts and accounting records, the accounting reference date and the financial year, the delivery of accounts and reports to the Registrar, the option to circulate the strategic report instead of full accounts and reports, and looks at website publication of accounts by quoted companies. It also looks at the revision of defective accounts, reports and statements. It provides guidance on the contents of accounts – the composition, consolidated or group accounts, accounts frameworks and formats, the ‘true and fair view’ rule, and the notes to the accounts. It looks at accounting exemptions, such as for ‘small’ or ‘medium-sized’ companies and micro entities, abbreviated accounts and dormant companies. It also provides guidance on narrative reporting, looking at the strategic report (including the business review) and the directors’ report. It examined the disclosure of director’ remuneration, and the auditors’ report, as well as the disclosure rules for transactions with directors, such as for loans to directors and statutory disclosure of related party transactions. It also looks at the accounts of overseas and unregistered companies, and the accounts of listed companies – the publication of annual reports, half-yearly reports and interim management statements, and the operating and financial review.

Precedents include:

  • Precedent 16.A Agreement to accept accounts less than 21 days before general meeting

  • Precedent 16.B Specimen tables for disclosure of directors’ remuneration and share interests by quoted companies


    Preparing, Filing, Publishing, Circulating And Laying Accounts
    Contents Of Accounts
    Accounting Exemptions
    Narrative Reporting
    Disclosure Of Directors' Remuneration
    Auditors' Report
    Disclosure Rules For Transactions With Directors
    Accounts Of Overseas And Unregistered Companies
    Accounts Of Listed Companies