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Chapter HMASAC2060

Document Cited in Related
Vincent
Published date11 April 2016
Record NumberHMASAC2060
CourtHM Revenue & Customs

The complexity of a business will be reflected in its accounts, therefore a large limited company will have a more complicated set of annual accounts than a small retail business or members club.

A complete set of accounts will generally have the following sections:

  • Company information, for example, Company House detail, details key officials, of fixed assets etc.;
  • Report of directors - this section is usually signed and contains details of the principal activities, directors, share details, statement of directors responsibility and auditors;
  • Report of the independent auditors - this section outlines the responsibilities of the directors and auditors. It explains the basis of the audit opinion and should be signed by the auditors.
  • Profit and Loss account - this is simplified version of the profit and loss...

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