How to use it
- 1Circulate the final draft accounts to every director before the meeting.
- 2Hold the meeting and fill in the minutes, replacing every [square bracket] placeholder.
- 3Keep paragraph 4 only if the company is claiming exemption from audit.
- 4Once approved, the authorised director signs the balance sheet with their name printed on it.
- 5Send copies to every shareholder, file with Companies House and HMRC, and keep the signed minutes for at least ten years.
What each field means
- Accounts considered
- The financial year and what the accounts contain: balance sheet, profit and loss account, notes and, unless the company is a micro-entity, a directors' report.
- Signing director
- The director the board authorises to sign the balance sheet on its behalf.
- Filing deadlines
- Companies House: 9 months after the financial year ends. Company Tax Return: 12 months after the accounting period ends.
What the law requires
Section 414 of the Companies Act 2006 says a company's annual accounts must be approved by the board of directors and signed on the board's behalf by a director, on the balance sheet. Companies House guidance adds that the balance sheet must have that director's name printed on it.
Statutory accounts include a balance sheet, a profit and loss account, notes and, unless the company is a micro-entity, a directors' report. Whether you also need an auditor's report depends on the size of the company.
After the meeting
Send copies of the statutory accounts to all shareholders. File them with Companies House within 9 months of the end of the financial year (first accounts: 21 months after the company was registered). The Company Tax Return is due 12 months after the end of the accounting period, and Corporation Tax is payable 9 months and 1 day after it.
Keep the signed minutes with the company's records. Section 248 requires directors' minutes to be kept for at least ten years from the meeting.
Licence and disclaimer
Free to use, copy and adapt for your own business or personal records. Please don't resell it or republish it as your own template.
A template is a starting point, not advice for your circumstances. Check the result against the GOV.UK guidance linked below, or ask an accountant.
Related
What else will you need?
- ChecklistLimited company year-end checklistAt a limited company's year end, reconcile every bank and loan account, list unpaid invoices and bills, count stock, record asset purchases, review the director's loan account and check dividends were minuted.
- TemplateBoard minutes: dividendBoard minutes for a dividend record the directors' meeting that decides to pay it: who attended, the profits available to cover it, the amount per share, the payment date and who is paid.PDFWord
- CT600CT600 Company Tax ReturnThe CT600 is HMRC's Company Tax Return.
- TemplateRecord retention scheduleHow long you keep records depends on the tax.PDF
Rather we did it?
Countify can handle this for you, for a fixed fee agreed upfront.
Questions
Frequently asked questions.
Who signs the company's accounts?
A director, on the balance sheet, on behalf of the board once the board has approved the accounts. The director's name must be printed on the balance sheet too.
Do the shareholders need copies?
When must the accounts be filed?
With Companies House, 9 months after the company's financial year ends, or 21 months after registration for the first accounts. The Company Tax Return goes to HMRC within 12 months of the end of the accounting period.
How long do we keep the minutes?
At least ten years from the date of the meeting, under section 248 of the Companies Act 2006.
Checked against GOV.UK on · Reviewed by Kamran Ishaq FCCA, Founder & CEO, on .
Sources: Companies Act 2006, section 414: approval and signing of accounts (opens in a new tab) (legislation.gov.uk); Annual accounts (opens in a new tab) (Companies House); Accounts and tax returns for private limited companies (opens in a new tab) (GOV.UK); Companies Act 2006, section 248: minutes of directors' meetings (opens in a new tab) (legislation.gov.uk).