Feb
15
2021
0
AFVBC Company Accounts
After a long struggle with Companies House the CIC Accounts are now showing on their website, they were first sent to them in November 2020 as per company legislation all companies which trade should submit yearly accounts.
A financial year is usually a 12 month period for which you prepare accounts. Every company must prepare accounts that report on the performance and activities of the company during the financial year.
Every company must keep accounting records - whether they are trading, or not.
Accounting records must include:
- entries showing all money received and expended by the company
- a record of the assets and liabilities of the company
Also, if your company’s business involves dealing in goods, the records must include:
- statements of stock held by the company at the end of each financial year
- all statements of stock takings from which you have taken or prepared any statements of stock
- statements of all goods sold and purchased, other than by ordinary retail trade. This should list the goods, the buyers and sellers
More information on the Government Website
