Statutory accounts are a set of formal financial reports that UK limited companies must legally prepare at the end of every financial year. You have to send these annual documents to your shareholders, Companies House, and HMRC to show an accurate overview of your business performance.
This guide covers everything you need to know about the statutory accounts for 2026/27.
For example, what are statutory accounts used for, who needs to prepare statutory accounts, what is included in statutory accounts.
And if you’d rather skip the reading and hand it all over, our specialist accountants in London can help prepare your accounts and deal with the filings.
What Are Statutory Accounts?
Statutory accounts are the formal, annual financial statements that a limited company or limited liability partnership (LLP) must legally prepare at the end of its financial year.
They show how the business has performed financially and are usually filed with Companies House and used for Corporation Tax reporting. All limited companies, including many dormant companies, must prepare statutory accounts.
What Do Statutory Accounts Include?
Your full statutory accounts content depends on the type and size of the company. So depending on your company’s size, the exact requirements might change slightly.
But a standard set of statutory includes:
| Part of the accounts | What it shows |
| Balance sheet | What the company owns, owes and is owed at the end of the financial year |
| Profit and loss account | The company’s income, expenses and profit or loss |
| Notes to the accounts | Additional information explaining figures and accounting policies |
| Directors’ report | Information about the company and its activities, where required (Note: This is not required for micro-entities, and the government has announced plans to phase out directors’ reports entirely under corporate reporting reforms). |
| Auditor’s report | An independent auditor’s opinion, where an audit is required |
The balance sheet must be signed by a director on behalf of the board, with their name clearly printed.
Who Has to Prepare Statutory Accounts?
Every limited company incorporated in the UK must prepare statutory accounts. This includes private limited companies, public limited companies (PLCs), limited liability partnerships (LLPs), and dormant companies.
- Private Limited Companies (Ltd): All active private limited companies, including those that made a loss or have not started trading yet.
- Public Limited Companies (Plc): All public limited companies.
- Dormant Companies: Companies that have had no significant financial activity during the financial year must still file dormant accounts.
- Limited Liability Partnerships (LLPs): LLPs are required to prepare and submit annual financial statements.
- Charities and Overseas Branches: UK-registered charitable companies must prepare statutory accounts. UK establishments of overseas companies do not prepare separate UK statutory accounts. But they must still submit their parent company’s financial statements to Companies House.
Even if you made no sales all year, you still have to prepare statutory accounts. Dormant companies file a very short set, but they still have to file.
Who Does NOT Have to Prepare Statutory Accounts?
Sole traders and ordinary business partnerships do not have to prepare or file statutory accounts. This is because they are not separate legal entities from the people who run them.
But know that specific large partnerships may have distinct audit rules.
When Must Statutory Accounts Be Filed?
Statutory (annual) accounts in the UK must be filed with Companies House within the following deadlines:
| Situation | Companies House deadline |
| Private companies (subsequent accounts) | 9 months after the end of your company’s financial year (accounting reference date) |
| Private companies (first accounts): | 21 months from the date your company was registered with Companies House. |
| Public limited companies (PLCs): | 6 months after the end of the accounting reference period. |
What Happens If You File Statutory Accounts Late?
The late filing penalties are automatic. For private companies it looks like this:
| How late | Penalty |
| Up to 1 month | £150 |
| 1 to 3 months | £375 |
| 3 to 6 months | £750 |
| More than 6 months | £1,500 |
It doubles if you’re late two years running. Public companies pay more. Appeals only work for genuine reasons, like serious illness. “I forgot” won’t do.
Directors can also be fined personally, and the company can eventually be struck off. Late statutory accounts also make lenders doubt you. And this definitely hurts when you need finance.
Can You Prepare Statutory Accounts Yourself?
Yes, you can prepare and file statutory accounts yourself in the UK. There is no legal requirement to hire an accountant to prepare your limited company’s annual accounts. However, the company directors remain legally responsible for their accuracy.
Also, one minor mathematical mismatch or a misunderstood rule can cause your documents to be rejected, leaving you vulnerable to late fees.
Therefore, plenty of owners find that handing it to an accountant is easier than they expected.
How Accotax Can Help
At Accotax we prepare statutory accounts for limited companies of all sizes, from one-director start-ups to growing teams.
We file them with Companies House and line them up with your corporation tax return. We also watch your deadlines, because most late penalties come from simple forgetfulness.
If you want Accotax to handle the preparation and filing, get in touch before the deadline is close.
The Bottom Line
Filing your statutory accounts is a non-negotiable part of running a successful limited company in the UK. Preparing them helps you meet legal requirements and provide important financial information to regulators and stakeholders.
With organised records and the right professional support when needed, statutory accounts are not at all difficult to prepare and file.
Disclaimer: All the information provided in this article on “What Are Statutory Accounts? A UK Guide for 2026/27“, including all the texts and graphics, is general in nature. It does not intend to disregard any of the professional advice.
