Format of the Accounts
The format of the accounts must follow the relevant Schedules to the Companies Act 1985. The provisions relating to small and medium-sized
companies are in Schedules 4, 5, 6, 8 and 8A.
For financial years beginning on or after 1 January 2005, the company may opt to prepare group accounts in accordance with international
accounting standards. The parent company's account and each of its subsidiary undertakings must be prepared using the same financial
reporting framework, except to the extent that there are good reasons for not doing so.
The accounts of your company are on public display at Companies House. As such, they represent more than the financial position of your business.
Those that read your accounts will form a view of your business. They will judge your results , to an extent, on the way they are presented.
Penn Accounts will always aim to present your accounts to Companies House and to HMR&C in the correct format, taking into account all the
relevant legislation and accounting guidelines.