What is the difference between annual accounts and an annual review?

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Good morrow, world wide web - I am in need of your assistance. Is there a difference between my company’s annual accounts and its annual review? It all sounds so woefully similar, me thinks. Thanks a million, all input more than welcome.

Answers

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The term ‘annual review’ has no official meaning in the context of limited company filing requirements. Where did you hear or see this term? In all likelihood, the term has been incorrectly used to refer to annual accounts or an annual return so I wouldn’t worry about it too much.

Annual accounts: You have to prepare annual accounts for Companies House and HMRC every year to report on your company’s financial activities and performance throughout the previous year. These accounts are often referred to as ‘financial accounts’, ‘statutory accounts’ and ‘company accounts’, but not an annual review.

Annual return: Another filing requirement is the annual return. This is a document that outlines key registered details about your company - name, registered office, officers’ details, members’ details, share capital, etc.

I hope this helps!

a year ago
 

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