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Filing abridged company accounts


01/12/2022

Companies that are dormant or qualify as a small company or ‘micro-entity’ can choose to send a simpler set of accounts known as abridged accounts to Companies House and do not need to be audited. These abridged accounts contain a simpler balance sheet and mean that less information about the company will be available in the public domain.

A company is usually classed as dormant by Companies House if it’s had no ‘significant’ transactions in the financial year to be reported.

A small company is defined as a business with two of the following:

  • a turnover of £10.2 million or less;
  • £5.1 million or less on its balance sheet;
  • 50 employees or less.

A micro-entity is defined as a business with two of the following:

  • a turnover under £632,000;
  • £316,000 or less on its balance sheet;
  • 10 employees or fewer.

If your company is a micro-entity, you can:

  • prepare simpler accounts that meet statutory minimum requirements;
  • send only your balance sheet with less information to Companies House; and
  • benefit from the same exemptions available to small companies.

Abridged accounts can only be sent with the agreement of all the company members.


Colwyn Bay Office

17 Wynnstay Rd
Colwyn Bay 
Conwy 
LL29 8NB
 
01492 536440
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