Year-end statutory accounts in AccBooks AI

What are statutory accounts?

Statutory accounts (also called annual accounts or financial statements) are the formal set of accounts that every UK limited company must file with Companies House each year. They include:

• Directors’ report (for most companies)
• Profit and Loss account (may be abbreviated for small companies)
• Balance sheet
• Notes to the accounts

Sole traders and partnerships don’t file with Companies House — they file a Self Assessment tax return.

Filing deadlines

Company stage	Deadline
First accounts (from incorporation)	21 months from incorporation date
Subsequent accounts	9 months from the accounting reference date

The year-end close process in AccBooks

Before generating statutory accounts, complete the year-end close:

1. Reconcile all bank accounts — no outstanding unreconciled transactions.
2. Clear the VAT liability — last VAT return for the year is filed and the bank payment is reconciled.
3. Post depreciation journals — run Fixed assets → Post depreciation for the year.
4. Post accruals and prepayments — ensure these are up to date.
5. Review stock valuation — if you hold stock, update the closing stock figure.
6. Post the corporation tax provision — add a journal for the estimated tax charge.
7. Review the trial balance — everything balances.
8. Set the period lock — lock the year to prevent changes.

Then go to Reports → Statutory accounts → Prepare.

Choosing your accounts format

AccBooks supports:

Format	Eligible if
FRS 102 (full)	Large companies or those choosing full disclosure
FRS 102 Section 1A (small companies)	Turnover < £10.2m, balance sheet < £5.1m, employees ≤ 50 (two of three)
FRS 105 (micro-entity)	Turnover < £632k, balance sheet < £316k, employees ≤ 10 (two of three)

Select the format under Reports → Statutory accounts → Format.

Micro-entity accounts

If you qualify as a micro-entity (FRS 105), you only need to file:

• A simplified balance sheet (no P&L, no notes beyond one).
• No directors’ report.

This is the most common format for small limited companies. Turnover is not disclosed in Companies House filings.

iXBRL tagging

Companies House requires accounts in iXBRL format (machine-readable XHTML). AccBooks generates correctly-tagged iXBRL automatically — you don’t need to understand XBRL.

Filing to Companies House

1. Go to Reports → Statutory accounts → File to Companies House.
2. Review the accounts preview.
3. Click File now. AccBooks connects to Companies House WebFiling and submits the iXBRL accounts.
4. You receive a confirmation reference number. Filing status is shown as Filed in AccBooks.

Note: A company officer (director) must approve the accounts before filing. AccBooks sends them an approval request email. They click to approve within the AccBooks secure portal — no wet signature required for digital filing.

Abridged accounts

Small companies can file abridged accounts at Companies House (balance sheet only, no P&L). The full accounts (including P&L) are sent to shareholders. AccBooks generates both versions:

• Full accounts: sent to shareholders via the AccBooks document portal.
• Abridged accounts: filed at Companies House.

Storing accounts

AccBooks stores all statutory accounts permanently. Go to Reports → Statutory accounts → History to view and download accounts from any previous year.