Accounts in United Kingdom

Definition of Accounts

In accordance with the work A Dictionary of Law, this is a description of Accounts :

A statement of a company’s financial position. All registered companies must present accounts (in the form prescribed by the Companies Act 1985) annually at a *general meeting. These consist of a *balance sheet and a *profit-and-loss account with *group accounts (if appropriate) attached. They are accompanied by a directors’ report and an auditor’s report. All limited companies must deliver copies of their accounts to the *Companies Registry (where they are open to public inspection) but companies that are classified (on the basis of turnover, balance sheet total, and number of members) as “small” or “medium-sized” enjoy certain exemptions. Members are entitled to be sent copies of the accounts.

See also elective resolution; summary financial statement.

Disclosure obligations in Limited Liability Partnerships


Find under this subsection information about Accounts in relation to Disclosure obligations in Limited Liability Partnerships.



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