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Accounts Exemption

Hi

What can be the possible cases in which Companies House can allow a company not to file accounts for the first year.

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By Old Greying Accountant
08th Aug 2011 16:49

Why are you asking?

Are you doing a search on a company that has not filed accounts, or do you want to not file any.

If the former they may be late, this may have more serious implications!

If the latter and the company hasn't traded dormant accounts will suffice.

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Maybe if you get year two in quickly?

The only example I've ever come across of COHS missing a year is where the directors, who didn't want the cost (or results) of an audit, held back, incurred some penalties and then submitted accounts for the next year very early.  These accounts did not require an audit.  

This brings the register up to date and excuses the missing year.

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08th Aug 2011 21:47

but watch out Paul...

If someone complains CH may still ask for the "missing" accounts

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I did & they didn't

Hi z - In the case I mentioned I was the auditor.  I had got 90% through the audit when I hit a problem that the directors refused to resolve and I withdrew from the assignment.  Eventually, as I say, the next year's unaudited accounts were submitted and I contacted Companies House to complain but they refused to accept the complaint as the record was now up to date.

As an aside I suggested to them that, in general, even with some penalties, it might be cheaper for companies to do this, ie only submit accounts every other year, they wouldn't comment.

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09th Aug 2011 10:10

Not so easy these days

In the good old days - up to a couple of years ago - it was, as Paul has said, quite possible for a company to miss a year's accounts, not necessarily just the first year.  Companies House sent out a couple of warning letters but did not start the old s.652 procedure to strike the company off for at least 6 months, which enabled you to get the next year's accounts filed and the record brought up to date.

Nowadays, they initiate the striking off procedure much sooner.  This is automatic, so I would be surprised if a company could get away with missing one year's accounts.

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09th Aug 2011 14:21

But

If you havent received any warnings and as per companies house website you have to submit next year accounts and still you havent submitted current year accounts.

 

What does this mean

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10th Aug 2011 12:02

You have lost me

ayaz786ahmd wrote:

If you havent received any warnings and as per companies house website you have to submit next year accounts and still you havent submitted current year accounts.

 

What does this mean

Warnings will be sent to the registered office of the company and quite possibly, also to the registered addresses of the directors.  If the first accounts have not been filed and are overdue, CH WebCheck would normally show:

Last Accounts Made Up To:  (NO ACCOUNTS FILED)

Next Accounts Due: dd/mm/20yy (OVERDUE)

There will be no mention of the due date for the next year's accounts.  If you file the next year's accounts, Last Accounts will change to that accounting date and Next Accounts will be the due date for the third year's accounts.

Perhaps, I have misunderstood what you are trying to say.

 

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09th Aug 2011 14:25

Audit Exempt

Please also note it is small company exempt from audit

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10th Aug 2011 14:11

In My Case

In my case, no accounts has been filed yet. 

Date of Incorporation: 23/11/2010

Last Accounts Made Up To:  (NO ACCOUNTS FILED), Yes no fillings 

 

Next Accounts Due: dd/mm/20yy (OVERDUE), 23/08/2012 is the date

 

Possibly the case may be i have to prepare long period accounts. What you say?

 

 

 

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10th Aug 2011 14:22

Not yet due

DoI 23/11/10. The default y/e is therefore 30 November, so the first accounts would be made up to 30/11/11 and due for filing by 23/8/12.

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By Old Greying Accountant
10th Aug 2011 14:23

FFS

Unless ARD (accounting reference date, i.e. "year end") changed, first accounts will be for the period 23rd November 2010 to 30th November 2011, due by 23rd August 2012. Even if ARD changed, first accounts still due by 23rd August 2012.

Subsequent accounts will be due 31st August annually, unless ARD changed, in which case subsequent accounts will be due 9 months from new ARD.

Capiche?

I don't mind answering any question, however basic it may seem to me, ignorance is no crime, but please give all the facts in the OP to avoid wasting everyones time.

 

 

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