The Register of Companies: https://www.gov.uk/annual-accounts

 The UK moves to new accounting standards from 01/01/2017. This innovation applies to the companies whose reporting period ends on December 31, 2016 or after this date.

Now the companies which are engaged in financial activities (loans, investments) will have to open the informaation on all loans taken and provided, counterparties, company officials and their counterparties (addresses, bank details, contact information). In relation to the loan agreements themselves, amounts, interest rates, and repayment terms will be indicated.

Companies will be required to submit supporting documents and detailed information on dividends received from subsidiaries.

The reporting period in the UK is determined from the date of registration of the company until the end of the month of registration of the company of the next year. For example, for a company registered on April 19, 2016, the reporting period ends on April 30, 2017. The accounting report and audit as two stages of the financial statements are divided in the UK.

The conditions for avoiding an audit of a financial statement in the UK are the definition of a company as a small company.

A small company is a company in which:

1. The turnover for the financial period does not exceed 10.2 million pounds
2. The total balance sheet is not more than 5.1 million pounds.
3. The number of company employees does not exceed 50 people.

To carry out a turnkey report, the UK law gives 9 months, 3 of which are given to the Company for the preparation of primary documentation and accounting, 6 - for the accountant to prepare the report and submit it to the registration authority and the tax department.

To prepare and submit accounting statements at the end of the reporting period, you need to provide the following documents on the company's activities:

1. A copy of the statement from the bank / banks for the reporting period;
2. Copies of all documents confirming movements on the company's account (as well as documents on the transactions that took place during the reporting period, but were not paid) and contracts, agreements, invoices, acts of work performed (services).
3. All documents must be in English or translated into English.
4. Accounting tables of all sales, purchases (for trading activities), loans and interest on them, a list of debtors and creditors and amounts owed at the end of the reporting period. Example:

Table 1.

Table 2.

Fines are provided for late submission of reports.

https://www.gov.uk/annual-accounts/penalties-for-late-filing

In case your companies or one of your companies did not carry on business in general, you are only required to confirm that you are ready for zero reporting. Only a bank statement is provided, as a confirmation of the absence of transactions, documents in this case are not required of you.

For the purpose of an audit the company is required to provide the information about the director, secretary, beneficial owner, and also to sign an audit contract. Also the prerequisite for the preparation of the audit is to receive from banks in which the company has accounts, the original confirmation of the balance at the end of the reporting period. This kind of request is submitted by an auditing company, and is signed by the account manager of the Company. Without receipt of such a document (bank response), the report is not transmitted to the audit stage.