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FRS105 Accounts Correcting

Are Amended Accounts required at Companies House?

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Whilst preparing the accounts for a new client, it was found that the previous accountant did not include any Trade Creditors at the previous year-end when there should have been circa £200k.


FRS105 states "... a micro-entity shall correct a material prior period error retrospectively in the first financial statements authorised for issue after its discovery by restating the comparative amount for the prior period(s) presented in which the error occurred."


Does this mean that amended accounts are not required to be filed at Companies House if the year we are preparing shows the comparative for last year as being "restated" to include the trade creditors omitted?

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10th Dec 2019 11:42


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