Group accounts
The requirements of the Companies Act regarding the preparation of group accounts are based on the company's size.
Small companies: If at the end of a financial year a company subject to the small companies regime is a parent company the directors, as well as preparing individual accounts for the year, may prepare group accounts for the year.
Other companies: Where companies are not subject to the small company regime. If at the end of a financial year the company is a parent company the directors, as well as preparing individual accounts for the year, must prepare group accounts for the year unless the company is exempt from the requirement.
Companies Act group accounts must comprise a consolidated balance sheet and a consolidated profit and loss account which give a true and fair view. Where a parent company prepares Companies Act group accounts, generally, all the subsidiary undertakings must be included.
Info Zone
- Business
- Selling your business
- Starting a business
- Limited companies
- Forming a limited company
- Pros and cons of limited companies
- Buying a company 'off the shelf'
- Tax and the company car
- Company bonus or dividend?
- Tax saving strategies
- The tax system for companies
- Companies Act 2006
- Accounting records
- An historical record of the key changes
- Appointment of directors
- Changing the company name
- Choosing a name for your company
- Do you need an audit?
- Filing of accounts and late filing penalties
- Registered office
- Related director agreements
- Shares and share capital
- A company's members
- A more in depth look at the act
- An auditor's rights to information
- Appointment of auditors
- Directors transactions requiring members approval
- Directors' liabilities
- Directors' report
- Directors' service contracts
- Financial year
- General duties of directors
- Group accounts
- Loans to directors
- Records of directors meetings
- Signing of accounts: directors and auditors
- Forming a limited company
- Companies House - forms you need to know about
- Interest and tax payments
- The law and directors' responsibilities
- Statutory records
- The company secretary
- Getting the company struck off
- Running your business
- Partnerships
- Your employees
- Personal
- Tax
- Calculators
- Publications and Factsheets
- Business News