Financial year - The financial year is usually a 12 month period for which you must prepare accounts and reports.

Such companies are still under a duty to prepare, sign and deliver accounts to Companies House.

This does not remove the company's obligation of preparing full accounts for its members.

A financial year is usually a 12 month period for which you prepare accounts.

Every company must prepare accounts that report on the performance and activities of the company during the financial year.

The directors of every company must prepare accounts for each financial year.

Are there any companies that cannot prepare and submit small accounts?

Community Interest Companies are no different from other companies when it comes to preparing and filing accounts.

Accountants have devised a number of broad assumptions which are widely accepted in preparing published accounts.

This provides information and data and is useful when preparing final accounts (Fig. 5.15).