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Statutory Records

It is essential that you keep your company’s statutory records up-to-date. Do not underestimate the importance of these records – they are definitive proof of the company’s legal existence and its members, and include:

 

 

A company’s accounts and annual return must be filed annually with the Registrar of Companies.

 

Non-compliance will render the company liable to dissolution with liabilities subsequent to the dissolution being the responsibility of the directors.

 

Penalties

 

The Companies Act provides for the Registrar of Companies to charge penalties and fines:

  • ·  £150-£7,500 penalty for late filing of accounts (the amount depends on the status of the company and the degree of lateness)
  • ·  £7,500 maximum fine for failure to submit accounts
  • ·  £7,500 maximum fine for failure to file the annual return
  • ·  £5,000 maximum fine for failure to hold an AGM
  • ·  £5,000 maximum fine for failure to notify any changes of officer, etc.

How we can help

 

If you would like to discuss any of the above please contact KR Accountants so we can arrange a No obligation FREE initial meeting to carry out a business review were we will offer you a FIXED FEE accountancy service with no hourly charges or hidden costs.

contact us

 

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