All terms
Business Setup & Legalintermediate

Statutory Accounts

Definition

The annual financial statements that every limited company must file with Companies House, including a balance sheet, profit and loss account, and notes.

Why it matters

Filing statutory accounts late results in automatic fines starting from £150, rising to £7,500 for repeated lateness. They are also public, anyone can look up your company's financials.

Example

A limited company with a March year-end must file accounts at Companies House by 31 December the same year, 9 months after year-end.

Related terms

Learn the language of business - and build the systems behind it.

Rich Girl Systems turns 1168+ founder concepts into a step-by-step programme with daily challenges, XP and your own assistant.

Take the free founder quiz